The following table sets forth selected consolidated financial data for the five years ended December 31, 2018. This selected consolidated financial data should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial statements and the notes thereto included in this Report.
Year EndedDecember 31,
(in millions, except per share data)
2018(a)
2017 (b) (c)
2016 (b) (c)
2015 (c)
2014 (c)
Results of Operations Data:
Revenue
$
5,207
$
4,707
$
3,771
$
3,653
$
3,916
Gross profit
2,026
1,847
1,462
1,407
1,517
Gross margin
38.9
%
39.2
%
38.8
%
38.5
%
38.7
%
Operating income
654
552
408
454
469
Operating margin
12.6
%
11.7
%
10.8
%
12.4
%
12.0
%
Net income attributable to Xylem
549
331
260
340
337
Per Share Data:
Earnings per share:
Basic
$
3.05
$
1.84
$
1.45
$
1.88
$
1.84
Diluted
3.03
1.83
1.45
1.87
1.83
Basic shares outstanding
179.8
179.6
179.1
180.9
183.1
Diluted shares outstanding
181.1
180.9
180.0
181.7
184.2
Cash dividends per share
$
0.8400
$
0.7200
$
0.6196
$
0.5632
$
0.5120
Balance Sheet Data (at period end):
Cash and cash equivalents
$
296
$
414
$
308
$
680
$
663
Working capital*
988
873
878
810
882
Total assets
7,222
6,860
6,474
4,657
4,833
Total debt
2,308
2,200
2,368
1,274
1,284
*
The Company calculates Working capital as follows: net accounts receivable + inventories - accounts payable - customer advances.
(a)
The amounts for the year ended December 31, 2018 reflects the acquisitions of both Pure and Sensus. Refer to Note 3 to the Consolidated Financial Statements for further information regarding acquisitions.
(b)
The amounts for the years ended December 31, 2017 and December 31, 2016 reflect the acquisition of Sensus. Refer to Note 3 to the Consolidated Financial Statements for further information regarding acquisitions.
(c)
The amounts for the years ended December 31, 2017, December 31, 2016, December 31, 2015 and December 31, 2014 reflect a re-classification related to prior year pension and post retirement accounting. Refer to Note 2 to the Consolidated Financial Statements for further information regarding this prior year re-classification.
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