Item 6. Selected Financial Data

FIVE YEAR SUMMARY OF SELECTED CONSOLIDATED FINANCIAL DATA

(In millions, except shares and per share amounts)



	Year Ended December 31,
(Loss)/Earnings (1)	2015					2014				2013		2012		2011
Net sales	$	3,652				$	1,671			$	1,038	$	996	$	983
Cost of sales	2,008					893				535		505		496
Gross profit	1,644					778				503		491		487
Acquisition and integration costs	144					127				5		3		—
Exit and restructuring costs	39					6				6		1		2
Other operating expenses	1,408					556				332		323		303
Total operating expenses	1,591					689				343		327		305
Operating income	53					89				160		164		182
(Loss) income from continuing operations before income taxes	(164		)	(2	)	17		(2	)	164		164		180
(Loss) income from continuing operations, net of tax	(137		)			32				134		122		131
Income (loss) from discontinued operations, net of tax (3)	—					—				—		1		44
Net (loss) income	$	(137	)			$	32			$	134	$	123	$	175
Basic earnings per share:
(Loss) income from continuing operations	$	(2.69	)			$	0.64			$	2.65	$	2.36	$	2.42
Income (loss) from discontinued operations (3)	—					—				—		0.02		0.82
Net (loss) income	$	(2.69	)			$	0.64			$	2.65	$	2.38	$	3.24
Diluted earnings per share:
(Loss) income from continuing operations	$	(2.69	)			$	0.63			$	2.63	$	2.35	$	2.40
Income (loss) from discontinued operations (3)	—					—				—		0.02		0.82
Net (loss) income	$	(2.69	)			$	0.63			$	2.63	$	2.37	$	3.22
Weighted average shares outstanding
Basic	50,996,297					50,789,173				50,692,942		51,566,468		53,853,579
Diluted	50,996,297					51,379,698				51,063,189		51,843,051		54,190,871



	December 31,
Balance Sheet (1)	2015		2014		2013		2012		2011
Cash and cash equivalents, investments and marketable securities	$	192	$	418	$	416	$	394	$	327
Working capital (4)	456		719		635		616		476
Total assets	5,024		5,539		1,120		968		899
Long-term obligations (5)	3,234		3,346		15		14		12
Stockholders’ equity	913		1,040		959		857		777


(1)	Includes the Enterprise business from its date of acquisition October 27, 2014.


(2)	2015 includes interest expense of $197 million and forward swaps gain of $4 million. 2014 includes interest expense of $57 million and forward swaps loss of $5 million.


(3)	In 2011, the Company sold two businesses, Navis, LLC and Proveo AG and reported the results as discontinued operations.


(4)	Calculated as current assets minus current liabilities.


(5)	Long-term obligations includes long-term debt, deferred revenue, and other long-term liabilities.