filings.toolsItem 6. SELECTED FINANCIAL DATA
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Item 6. SELECTED FINANCIAL DATA
SELECTED FINANCIAL DATA
The selected earnings data, per share data and balance sheet data for each of the five most recent years ended December 31 set forth below have been derived from our audited consolidated financial statements. The following data should be read in conjunction with our consolidated financial statements and notes to consolidated financial statements in Item 8 “Financial Statements and Supplementary Data.”
| 2019 | 2018 | 2017 | 2016 | 2015 | |||||||||||||
| As of and for the years ended December 31 | |||||||||||||||||
| in millions, except per share data | |||||||||||||||||
| Total revenues | $ | 4,929.1 | $ | 4,382.9 | $ | 3,890.3 | $ | 3,592.7 | $ | 3,422.2 | |||||||
| Gross profit | $ | 1,255.9 | $ | 1,100.9 | $ | 993.5 | $ | 988.9 | $ | 857.5 | |||||||
| Gross profit margin | 25.5% | 25.1% | 25.5% | 27.5% | 25.1% | ||||||||||||
| Earnings from continuing operations 1 | $ | 622.5 | $ | 517.8 | $ | 593.4 | $ | 422.4 | $ | 232.9 | |||||||
| Earnings (loss) on discontinued operations, | |||||||||||||||||
| net of tax 2 | $ | (4.8) | $ | (2.0) | $ | 7.8 | $ | (2.9) | $ | (11.7) | |||||||
| Net earnings | $ | 617.7 | $ | 515.8 | $ | 601.2 | $ | 419.5 | $ | 221.2 | |||||||
| Basic earnings (loss) per share | |||||||||||||||||
| Continuing operations | $ | 4.71 | $ | 3.91 | $ | 4.48 | $ | 3.17 | $ | 1.75 | |||||||
| Discontinued operations | (0.04) | (0.01) | 0.06 | (0.02) | (0.09) | ||||||||||||
| Basic net earnings per share | $ | 4.67 | $ | 3.90 | $ | 4.54 | $ | 3.15 | $ | 1.66 | |||||||
| Diluted earnings (loss) per share | |||||||||||||||||
| Continuing operations | $ | 4.67 | $ | 3.87 | $ | 4.40 | $ | 3.11 | $ | 1.72 | |||||||
| Discontinued operations | (0.04) | (0.02) | 0.06 | (0.02) | (0.08) | ||||||||||||
| Diluted net earnings per share | $ | 4.63 | $ | 3.85 | $ | 4.46 | $ | 3.09 | $ | 1.64 | |||||||
| Cash and cash equivalents | $ | 271.6 | $ | 40.0 | $ | 141.6 | $ | 259.0 | $ | 284.1 | |||||||
| Total assets 3 | $ | 10,648.8 | $ | 9,832.1 | $ | 9,504.9 | $ | 8,471.5 | $ | 8,301.6 | |||||||
| Total liabilities 3 | $ | 5,026.9 | $ | 4,629.2 | $ | 4,536.0 | $ | 3,899.0 | $ | 3,847.4 | |||||||
| Working capital | $ | 843.8 | $ | 476.6 | $ | 737.2 | $ | 764.9 | $ | 731.1 | |||||||
| Current maturities and short-term debt | $ | 0.0 | $ | 133.0 | $ | 41.4 | $ | 0.1 | $ | 0.1 | |||||||
| Long-term debt 4 | $ | 2,784.3 | $ | 2,779.4 | $ | 2,813.5 | $ | 1,982.8 | $ | 1,980.3 | |||||||
| Equity | $ | 5,621.9 | $ | 5,202.9 | $ | 4,968.9 | $ | 4,572.5 | $ | 4,454.2 | |||||||
| Cash dividends declared per share | $ | 1.24 | $ | 1.12 | $ | 1.00 | $ | 0.80 | $ | 0.40 |
| 1 | E**arnings from continuing operations for 2017 include pretax interest charges of $148.0 million referable to debt purchases and $297.0 million of discrete net tax benefits. |
| 2 | Discontinued operations include the results attributable to our former Chemicals business. |
| 3 | As a result of our first quarter 2019 adoption of ASU 2016-02 (see Note 1 “Summary of Significant Accounting Policies” in Item 8 “Financial Statements and Supplementary Data” under the caption New Accounting Standards), total assets and total liabilities as of December 31, 2019 included $408.2 million and $418.0, respectively, of reported right-of-use assets and related liabilities. We elected not to restate comparative periods. |
| 4 | Long-term debt includes $250.0 million of floating-rate notes due June 2020 (see Note 6 “Debt” in Item 8 “Financial Statements and Supplementary Data”) as we intend to refinance these notes, and we have the ability to do so by borrowing on our line of credit. |
| Part II | 28 |
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