filings.toolsItem 6. SELECTED FINANCIAL DATA
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Item 6. SELECTED FINANCIAL DATA
The following selected financial data reflect the consolidated operations of PayPal. PayPal derived the selected consolidated income statement data for the years ended December 31, 2017, 2016 and 2015 and the selected consolidated balance sheet data as of December 31, 2017 and 2016 as set forth below, from its audited consolidated financial statements, which are included in “Item 15. Exhibits, Financial Statement Schedules” of this Annual Report on Form 10-K. PayPal derived the selected consolidated income statement data for the years ended December 31, 2014 and 2013 and selected consolidated balance sheet data as of December 31, 2015 and 2014 from audited consolidated financial statements not included in this Annual Report on Form 10-K. PayPal derived the selected consolidated balance sheet data as of December 31, 2013 from PayPal’s underlying financial records, which were derived from the financial records of eBay. The historical results do not necessarily indicate the results expected for any future period. To ensure a full understanding, you should read the selected consolidated financial data presented below in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial statements and accompanying notes included elsewhere in this report.
| Year Ended December 31, | |||||||||||||||||||
| 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||
| (In millions, except per share amounts) | |||||||||||||||||||
| Consolidated Statement of Income Data: | |||||||||||||||||||
| Net revenues | $ | 13,094 | $ | 10,842 | $ | 9,248 | $ | 8,025 | $ | 6,727 | |||||||||
| Operating income | 2,127 | 1,586 | 1,461 | 1,268 | 1,091 | ||||||||||||||
| Net income | 1,795 | 1,401 | 1,228 | 419 | 955 | ||||||||||||||
| Net income per share: | |||||||||||||||||||
| Basic | $ | 1.49 | $ | 1.16 | $ | 1.00 | $ | 0.34 | $ | 0.78 | |||||||||
| Diluted | $ | 1.47 | $ | 1.15 | $ | 1.00 | $ | 0.34 | $ | 0.78 | |||||||||
| Weighted average shares(1)(2): | |||||||||||||||||||
| Basic | 1,203 | 1,210 | 1,222 | 1,218 | 1,218 | ||||||||||||||
| Diluted | 1,221 | 1,218 | 1,229 | 1,224 | 1,224 | ||||||||||||||
| Consolidated Balance Sheet Data: | |||||||||||||||||||
| Total assets | $ | 40,774 | $ | 33,103 | $ | 28,881 | $ | 21,917 | $ | 19,160 | |||||||||
| Total long-term liabilities | 1,917 | 1,513 | 1,505 | 386 | 509 |
(1) On July 17, 2015, the distribution date, eBay stockholders of record as of the close of business on July 8, 2015 received one share of PayPal common stock for every share of eBay common stock held as of the record date. Basic and diluted net income per share for the years ended December 31, 2014, and 2013 were calculated using the number of common shares distributed on July 17, 2015.
(2) The weighted average number of common shares outstanding for basic and diluted earnings per share for the year ended December 31, 2015 was based on the number of common shares distributed on July 17, 2015 for the period prior to distribution and the weighted average number of common shares outstanding for the period beginning after the distribution date.
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