Selected Financial Data

(In thousands, except per share information) As of December 31,

SUMMARY BALANCE SHEET 2015 2014
Current assets
$ 2,277,519 $ 2,495,704
Property and equipment, net
1,101,959 1,099,574
Other assets, net
76,333 78,964
Other intangible assets, net
205,074 243,584
Goodwill
1,552,658 1,596,695
Non-current assets of discontinued operations
739,062
Total assets
$ 5,213,543 6,253,583
     
Current liabilities
$ 1,203,744 $ 1,106,311
Long-term debt and notes payable, net
475,364 72,489
Deferred income taxes
186,491 215,981
Insurance and other non-current liabilities
260,129 227,730
Non-current liabilities of discontinued operations
105,532
Total equity
3,087,815 4,525,540
Total liabilities and equity
$ 5,213,543 $ 6,253,583
SUMMARY INCOME STATEMENT 2015 2014
Revenues
$ 7,572,436 $ 7,747,229
Operating income
$ 237,503 $ 429,060
Net income from continuing operations
attributable to common stock
$ 120,286 $ 269,224
Diluted earnings per share from continuing
operations attributable to common stock
$ 0.62 $ 1.22
SUMMARY CASH FLOW DATA 2015 2014
Net cash provided by operating activities
of continuing operations
$ 618,183 $ 247,742
Capital expenditures, net of proceeds
from sales
$ 183,790 $ 232,768
Free cash flow (1)
$ 434,393 $ 14,974


(1)This is a non-GAAP measure provided to enable investors to evaluate performance excluding the effects of certain items management believes impact the comparability of operating results between reporting periods.

Reconciliation of Non-GAAP Financial Measures

(In thousands, except per share information) As of December 31,

  2012 2013 2014 2015
Adjusted diluted earnings per share from continuing operations:        
Net income from continuing operations attributable to common stock (GAAP as reported) $ 259,579 $ 372,057 $ 269,224 $ 120,286
Adjustments, net of income taxes:        
Asset impairment charges - - - 44,639
Impact of Alberta tax law change - - - 4,982
Impact of tax benefit from realization of previously unrecognized deferred tax asset - - - 4,982
Provision for long-term contract receivable - - 62,552 -
Arbitration expense - - 25,822 -
Impact of income tax contingency releases (7,139) (9,935) (8,099) -
Impact of sale of equity ownership in Howard Energy - (70,477) - -
Acquisition and integration costs 1,961 5,714 11,753 5,592
Adjusted net income from continuing operations attributable to common
stock before certain non-cash adjustments
254,401 297,359 361,252 171,271
Non-cash stock based compensation, net income taxes 15,025 20,973 22,844 22,533
Amortization of intangibles, net of income taxes 22,333 16,558 22,409 23,437
Adjusted net income from continuing operations attributable to common
stock for adjusted diluted earnings per share from continuing operations
291,759 334,890 406,505 217,241
Calculation of weighted average shares for adjusted diluted earnings per
share from continuing operations attributable to common stock:
Weighted average shares outstanding for basic earnings per share 212,777 214,929 219,668 195,113
Effect of dilutive stock options 58 49 22 7
Weighted average shares outstanding for adjusted diluted earnings per share 212,835 214,978 219,690 195,120
         
Adjusted diluted earnings per share from continuing operations attributable
to common stock
$ 1.37 $ 1.56 $ 1.85 $ 1.11



The non-GAAP measure of adjusted diluted earnings per share from continuing operations is provided to enable investors evaluate performance excluding the effects of items that management believes impact the comparability of operating results between periods.