Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA

(dollars in thousands, except per share data)

Income and Share Data:2019(1)2018(2)2017(3)2016(4)2015(5)
Net sales$714,006$642,993$563,003$499,023$452,246
Operating income146,719136,178120,584150,593147,023
Earnings before income taxes (6)112,015125,952111,961147,481154,162
Net earnings96,072126,15076,086104,476107,735
Diluted earnings per share2.473.312.032.802.89
Average common and common equivalent shares - diluted (in thousands)38,89238,05537,50037,32637,231
Balance Sheet Data as of June 30:20192018201720162015
Cash, cash equivalents and short-term available-for-sale investments$166,033$181,754$157,714$95,835$110,921
Working capital310,622318,856212,503199,744208,515
Total assets1,884,4101,593,2021,558,2191,129,5811,063,360
Total shareholders' equity1,165,5891,079,061949,627879,280846,935
Cash Flow Data:20192018201720162015
Net cash provided by operating activities181,619$170,367$143,721$144,157$139,359
Capital expenditures25,41120,93415,17916,89819,905
Cash dividends declared per share1.281.281.281.281.27
Employee Data as of June 30:20192018201720162015
Employees2,2551,9431,7891,5601,356
(1) (2)The Company acquired Quad Technologies on July 2, 2018, Exosome Diagnostics on August 1, 2018 and B-Mogen on June 4, 2019. The Company acquired Trevigen on September 5, 2017, Atlanta Biologicals on January 2, 2018, and Eurocell Diagnostics on February 1, 2018.
(3)The Company acquired Space on July 1, 2016, and Advanced Cell Diagnostics on August 1, 2016.
(4)The Company acquired Cliniqa on July 8, 2015, and Zephyrus on March 21, 2016.
(5)The Company acquired Novus Biologicals on July 2, 2014, ProteinSimple on July 31, 2014, and CyVek on November 3, 2014.
(6)Earnings before income taxes included acquisition related expenses related to amortization of intangibles, costs recognized on sale of acquired inventories and professional fees associated with acquisition activity, as follows: 2019 - $64.9 million; 2018 - $74.2 million; 2017 - $73.2 million; 2016 - $37.6 million; 2015 - $37.6 million.

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