Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA

The following table presents selected consolidated financial data. The data presented should be read in conjunction with our Consolidated Financial Statements and accompanying notes and "Management's Discussion and Analysis of Financial Condition and Results of Operations" included elsewhere in this Annual Report. Our consolidated financial information may not be indicative of our future performance.


	As of or for Fiscal
	2018			2017(1)			2016(1)(2)			2015(1)			2014(1)
	(in millions, except per share data)
Statement of Operations Data
Net sales	$	13,988		$	12,185		$	11,352		$	11,524		$	11,690
Acquisition and integration costs		14			6			22			55			31
Restructuring and other charges (credits), net(3)		126			147			(2	)		152			15
Other income (expense), net(4)		1			(42	)		(677	)		(55	)		63
Income tax (expense) benefit(4)		344			(180	)		826			(306	)		(160	)
Income from continuing operations		2,584			1,540			1,847			1,180			1,634
Income (loss) from discontinued operations, net of income taxes(5)		(19	)		143			162			1,240			147
Net income	$	2,565		$	1,683		$	2,009		$	2,420		$	1,781
Per Share Data
Basic earnings per share:
Income from continuing operations	$	7.38		$	4.34		$	5.05		$	2.91		$	3.99
Net income		7.33			4.74			5.49			5.98			4.34
Diluted earnings per share:
Income from continuing operations	$	7.32		$	4.30		$	5.01		$	2.87		$	3.92
Net income		7.27			4.70			5.44			5.89			4.27
Dividends paid per common share	$	1.68		$	1.54		$	1.40		$	1.24		$	1.08
Balance Sheet Data
Total assets	$	20,386		$	19,403		$	17,608		$	20,589		$	20,132
Long-term liabilities		5,145			5,805			6,057			7,429			7,128
Total shareholders' equity	$	10,831		$	9,751		$	8,485		$	9,585		$	9,007

(1)

In fiscal 2018, our Subsea Communications business met the held for sale and discontinued operations criteria. As a result, we reclassified amounts previously reported to reflect this business as a discontinued operation in all periods presented. For additional information regarding discontinued operations, see Notes 4 and 23 to the Consolidated Financial Statements.

(2)

Fiscal 2016 was a 53-week year.

(3)

Fiscal 2016 included a pre-tax gain of $144 million on the sale of our Circuit Protection Devices business. See Note 3 to the Consolidated Financial Statements for additional information.

(4)

For fiscal 2018, 2017, and 2016, see Notes 15 and 16 to the Consolidated Financial Statements for additional information. Fiscal 2015 income tax (expense) benefit included a $216 million income tax charge associated with the tax impacts of certain intercompany legal entity restructurings made in connection with our integration of Measurement Specialties, Inc; a $201 million income tax benefit related to the effective settlement of all undisputed tax matters for the years 2001 through 2007 and the related impact of $84 million to other expense pursuant to the Tax Sharing Agreement with Tyco International plc and Covidien plc; and a $63 million income tax benefit associated with the effective settlement of all undisputed tax matters for the years 2008 through 2010. Fiscal 2014 income tax (expense) benefit included a $282 million income tax benefit recognized in connection with a reduction in the valuation allowance associated with certain tax loss carryforwards relating to ADC Telecommunications, Inc.

(5)

Fiscal 2015 included a pre-tax gain of $1.1 billion on the sale of our Broadband Network Solutions business.

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