filings.toolsItem 6. Selected Financial Data.
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Item 6. Selected Financial Data.
| 2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||||||||||||||
| (in millions, except per-share data) | |||||||||||||||||||||||||||||
| Net revenues(1) | $ | 6,207 | $ | 5,618 | $ | 5,373 | $ | 4,855 | $ | 4,285 | |||||||||||||||||||
| Net operating income | $ | 2,746 | $ | 2,387 | $ | 2,361 | $ | 2,109 | $ | 1,733 | |||||||||||||||||||
| Net income | $ | 2,523 | $ | 2,249 | $ | 1,769 | $ | 1,581 | $ | 1,254 | |||||||||||||||||||
| Net income (loss) attributable to redeemable non-controlling interests | $ | 151 | $ | 118 | $ | (69) | $ | 83 | $ | 39 | |||||||||||||||||||
| Net income attributable to T. Rowe Price Group | $ | 2,373 | $ | 2,131 | $ | 1,838 | $ | 1,498 | $ | 1,215 | |||||||||||||||||||
| Adjusted net income attributable to T. Rowe Price Group(2) | $ | 2,277 | $ | 1,976 | $ | 1,807 | $ | 1,361 | $ | 1,149 | |||||||||||||||||||
| Per common share information | |||||||||||||||||||||||||||||
| Basic earnings | $ | 10.08 | $ | 8.82 | $ | 7.41 | $ | 6.07 | $ | 4.85 | |||||||||||||||||||
| Diluted earnings | $ | 9.98 | $ | 8.70 | $ | 7.27 | $ | 5.97 | $ | 4.75 | |||||||||||||||||||
| Adjusted diluted earnings(2) | $ | 9.58 | $ | 8.07 | $ | 7.15 | $ | 5.43 | $ | 4.49 | |||||||||||||||||||
| Cash dividends declared | $ | 3.60 | $ | 3.04 | $ | 2.80 | $ | 2.28 | $ | 2.16 | |||||||||||||||||||
| Weighted-average common shares outstanding | 228.8 | 235.4 | 242.2 | 241.2 | 245.5 | ||||||||||||||||||||||||
| Weighted-average common shares outstanding assuming dilution | 231.2 | 238.6 | 246.9 | 245.1 | 250.3 | ||||||||||||||||||||||||
| December 31, | |||||||||||||||||||||||||||||
| 2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||||||||||||||
| Balance sheet data (in millions) | |||||||||||||||||||||||||||||
| Total assets | $ | 10,659 | $ | 9,330 | $ | 7,689 | $ | 7,535 | $ | 6,226 | |||||||||||||||||||
| Redeemable non-controlling interests | $ | 1,562 | $ | 1,121 | $ | 740 | $ | 993 | $ | 687 | |||||||||||||||||||
| Stockholders’ equity | $ | 7,707 | $ | 7,102 | $ | 6,124 | $ | 5,824 | $ | 5,009 | |||||||||||||||||||
| Assets under management (in billions) | $ | 1,470.5 | $ | 1,206.8 | $ | 962.3 | $ | 991.1 | $ | 810.8 |
(1) Net revenues for 2018 and 2017 have been adjusted to reflect the adoption of new revenue accounting guidance on January 1, 2018. We adopted the guidance using the retrospective method, which required adjustments to be reflected as of January 1, 2016. Accordingly, net revenues for 2016 have not been adjusted.
(2) These items represent non-GAAP financial measures that have been established in order to increase transparency for the purpose of evaluating our core business, for comparing current results with prior period results, and to enable more appropriate comparison with industry peers. See Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations for the definitions of these measures and the related reconciliation from U.S. GAAP.
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