Item 6. Selected Financial Data.

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	For Years Ended December 31,
(Millions of dollars, except share and per-share amounts)	2018			2017			2016			2015			2014
Cash flow data:
Cash flows from operating activities	$	7,189		$	5,363		$	4,614		$	4,397		$	4,054
Capital expenditures		1,131			695			531			551			385
Free cash flow (a)		6,058			4,668			4,083			3,846			3,669
Dividends paid		2,555			2,104			1,646			1,444			1,323
Stock repurchases		5,100			2,556			2,132			2,741			2,831

Income statement data:
Revenue by segment:
Analog		10,801			9,900			8,536			8,339			8,104
Embedded Processing		3,554			3,498			3,023			2,787			2,740
Other		1,429			1,563			1,811			1,874			2,201
Revenue		15,784			14,961			13,370			13,000			13,045

Gross profit		10,277			9,614			8,257			7,575			7,447
Operating expenses (R&D and SG&A)		3,243			3,202			3,098			2,995			3,164
Acquisition charges		318			318			319			329			330
Restructuring charges/other		3			11			(15	)		(71	)		(50	)
Operating profit		6,713			6,083			4,855			4,322			4,003

Net income	$	5,580		$	3,682		$	3,595		$	2,986		$	2,821

A portion of net income is allocated to unvested restricted stock units (RSUs) on which we pay dividend equivalents. Diluted earnings per share (EPS) is calculated using the following:

Net income	$	5,580		$	3,682		$	3,595		$	2,986		$	2,821
Income allocated to RSUs		(42	)		(33	)		(44	)		(42	)		(43	)
Income allocated to common shares for diluted EPS	$	5,538		$	3,649		$	3,551		$	2,944		$	2,778

Average diluted shares outstanding (millions)		990			1,012			1,021			1,043			1,080
Diluted EPS	$	5.59		$	3.61		$	3.48		$	2.82		$	2.57
Cash dividends declared per common share	$	2.63		$	2.12		$	1.64		$	1.40		$	1.24

(a)	Free cash flow is a non-GAAP measure derived by subtracting capital expenditures from cash flows from operating activities.

	December 31,
(Millions of dollars, except other data items)	2018		2017		2016		2015		2014
Balance sheet data:
Cash, cash equivalents and short-term investments	$	4,233	$	4,469	$	3,490	$	3,218	$	3,541
Total assets		17,137		17,642		16,431		16,230		17,372
Current portion of long-term debt		749		500		631		1,000		1,001
Long-term debt		4,319		3,577		2,978		3,120		3,630

Other data - Number of:
Employees		29,888		29,714		29,865		29,977		31,003
Stockholders of record		13,825		14,260		14,910		15,563		16,361

See Management’s Discussion and Analysis of Financial Condition and Results of Operations and Financial Statements and Supplementary Data.