Item 6. SELECTED FINANCIAL DATA.

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Item 6. SELECTED FINANCIAL DATA.



	FOR THE YEARS ENDED DECEMBER 31,
	2018			2017 (a),(b)			2016 (a),(c)			2015(d)			2014
				As Adjusted			As Adjusted
STATEMENT OF OPERATIONS DATA:
Revenues	$	935,282		$	840,899		$	759,880		$	591,022		$	493,101
Cost and expenses:
Cost of revenues	495,704			441,522			400,692			313,835			259,730
Selling, general and administrative expenses	207,605			175,914			165,176			133,317			108,260
Research and development expense	63,264			47,324			43,154			29,922			25,743
Amortization of customer and trade name intangibles	16,217			13,381			13,202			5,905			4,546
Operating income	152,492			162,758			137,656			108,043			94,822
Other income (expense), net	3,378			698			(1,998		)	381			(355		)
Income before income taxes	155,870			163,456			135,658			108,424			94,467
Income tax (benefit) provision (b)	8,408			(6,115		)	21,957			43,555			35,527
Net income	147,462			169,571			113,701			64,869			58,940
Net earnings per diluted share	$	3.68		$	4.32		$	2.92		$	1.77		$	1.66
Weighted average diluted shares (c)	40,123			39,246			38,961			36,552			35,401
STATEMENT OF CASH FLOWS DATA:
Cash flows provided by operating activities (c)	$	250,203		$	195,755		$	191,859		$	134,327		$	142,839
Cash flows used by investing activities	(238,255		)	(85,395		)	(50,720		)	(398,459		)	(11,555		)
Cash flows (used) provided by financing activities (c)	(63,595		)	39,415			138,075			91,052			(3,993		)
BALANCE SHEET DATA:
Total assets	$	1,790,963		$	1,611,351		$	1,378,502		$	1,356,570		$	569,812
Revolving line of credit	—			—			10,000			66,000			—
Shareholders' equity	1,324,846			1,191,736			934,540			858,857			336,973

(a) Reflects the impact of the adoption of Accounting Standards Update ("ASU") ASU No. 2014-09, Revenue from Contracts with Customers in fiscal year 2018. Refer to Note - 1 "Summary of Significant Accounting Policies" for further discussion.

(b) 2017 includes the significant impact of the enactment of the Tax Cuts and Jobs Act ("Tax Act"). The most significant impact of the Tax Act to us is the reduction in the U.S. federal corporate income tax rate from 35% to 21%. The impact of the rate reduction on our 2017 income tax provision is a $26.0 million (as adjusted) tax benefit due to the remeasurement of deferred tax assets and liabilities. Refer to Note - 7 "Income Tax" for further discussion on the impact of the Tax Act.

(c) During 2016, we early adopted ASU No. 2016-09 Improvements to Employee Share-Based Payment Accounting requiring the recognition of excess tax benefits or tax deficiencies as a component of income tax expense; these benefits or deficiencies were historically recognized in equity. As the standard requires a prospective method of adoption, our net income in 2016 includes a $29.6 million income tax benefit due to the adoption that did not occur in the comparable prior periods presented above. In 2016, ASU No. 2016-09 updated the method of calculating diluted shares resulting in the inclusion of 519,000 additional shares in our diluted earnings per share calculation, which is not comparable to the other prior periods presented. The adoption of ASU No. 2016-09 also required excess tax benefits, previously presented as financing activities, to be classified as operating activities. As retrospective adoption for this component of the standard is allowable, we have adjusted all periods presented above to reflect this change in classification.

(d) On November 16, 2015, we completed the acquisition of New World Systems Corporation ("NWS"). Operating results for the twelve months ended December 31, 2015, include $5.9 million for non-recurring financial advisory, legal, accounting, due diligence, valuation and other expenses necessary to complete the NWS acquisition.

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