filings.toolsItem 6. Selected Financial Data
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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, | ||||||||||||||||||||||||||||||||
| Consolidated Statements of Operations (1) | 2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||||||||||||||||
| Net sales | $ | 4,448 | $ | 4,485 | $ | 4,218 | $ | 3,722 | $ | 3,574 | ||||||||||||||||||||||
| Gross profit | 2,003 | 2,100 | 1,981 | 1,710 | 1,642 | |||||||||||||||||||||||||||
| Net income (loss) | $ | 504 | $ | 544 | $ | 421 | $ | 17 | $ | (137) | ||||||||||||||||||||||
| Basic earnings (loss) per share | $ | 9.43 | $ | 10.08 | $ | 7.86 | $ | 0.33 | $ | (2.65) | ||||||||||||||||||||||
| Diluted earnings (loss) per share | $ | 9.35 | $ | 9.97 | $ | 7.76 | $ | 0.32 | $ | (2.65) | ||||||||||||||||||||||
| Weighted average shares outstanding: | ||||||||||||||||||||||||||||||||
| Basic | 53,441,375 | 53,991,249 | 53,591,655 | 53,021,761 | 51,579,112 | |||||||||||||||||||||||||||
| Diluted | 53,913,245 | 54,594,417 | 54,299,812 | 53,688,832 | 51,579,112 |
| December 31, | ||||||||||||||||||||||||||||||||
| Consolidated Balance Sheets (1) (2) | 2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||||||||||||||||
| Cash and cash equivalents | $ | 168 | $ | 30 | $ | 44 | $ | 62 | $ | 156 | ||||||||||||||||||||||
| Total Assets | 5,375 | 4,711 | 4,339 | 4,275 | 4,632 | |||||||||||||||||||||||||||
| Long-term liabilities | 1,380 | 1,468 | 1,703 | 2,441 | 2,891 | |||||||||||||||||||||||||||
| Total Stockholders’ Equity | 2,144 | 1,839 | 1,335 | 834 | 792 |
(1)Includes the Reflexis, Cortexica, Profitect, Temptime and Xplore businesses, effective upon their respective dates of acquisition, which were as follows: Reflexis on September 1, 2020, Cortexica on November 5, 2019, Profitect on May 31, 2019, Temptime on February 21, 2019 and Xplore on August 14, 2018. See Note 5, Business Acquisitions in the Notes to Consolidated Financial Statements for further details related to these acquisitions.
(2)Effective January 1, 2019, the Company adopted Accounting Standards Codification (“ASC”) Topic 842, Leases (“ASC 842”), which resulted in the recognition of right-of-use lease assets and lease liabilities for operating leases with terms greater than one year. The Company adopted ASC 842 under the modified retrospective approach, and therefore financial statements prior to 2019 were not affected by this standard. See Note 13, Leases in the Notes to Consolidated Financial Statements for additional information related to the Company’s leasing activities.
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