CLB 2018 Annual Report

17 In connection with our initial public offering in September 1995, our shareholders authorized our Management Board to repurchase up to 10% of our issued share capital, the maximum allowed under Dutch law at the time, for a period of 18 months. This authorization was renewed at subsequent annual or special shareholder meetings. At our annual shareholders' meeting on May 24, 2018, our shareholders authorized an extension until November 24, 2019 to purchase up to 10% of our issued share capital. The repurchase of shares in the open market is at the discretion of management pursuant to this shareholder authorization. From the activation of the share repurchase program through December 31, 2018, we have repurchased 39,618,299 shares for an aggregate purchase price of approximately $1.6 billion, or an average price of $41.57 per share. At December 31, 2018, we held 479,407 shares in treasury and have the authority to repurchase 4,000,218 additional shares under our stock repurchase program as described in the preceding paragraph. ITEM 6. SELECTED FINANCIAL DATA The selected consolidated financial information contained below is derived from our Consolidated Financial Statements and should be read in conjunction with "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" and our audited Consolidated Financial Statements each of which is included in this Form 10-K. For the Years Ended December 31, 2018 2017 2016 2015 2014 (in thousands, except per share and other data) Financial Statement Data: Revenue $ 700,846 $ 647,819 $ 590,232 $ 782,069 $ 1,044,926 Income from continuing operations 79,847 80,985 65,024 111,924 246,587 Working capital 128,430 106,851 82,438 117,789 169,954 Total assets 648,827 584,812 573,052 625,258 673,325 Long-term debt and capital lease obligations, including current maturities, net 289,770 226,989 216,488 430,987 353,672 Total equity (deficit) 160,900 148,732 155,297 (23,699) 93,993 Earnings Per Share Information: Income from continuing operations Basic $ 1.81 $ 1.83 $ 1.50 $ 2.62 $ 5.56 Diluted $ 1.80 $ 1.83 $ 1.49 $ 2.61 $ 5.53 Weighted average common shares outstanding: Basic 44,206 44,153 43,479 42,747 44,362 Diluted 44,474 44,264 43,670 42,908 44,600 Cash dividends declared per common share $ 2.20 $ 2.20 $ 2.20 $ 2.20 $ 2.00 Other Data: Current ratio (1) 2.25:1 2.06:1 1.79:1 1.98:1 2.29:1 Debt to EBITDA ratio (2) 1.97:1 1.59:1 1.79:1 2.24:1 0.93:1 Debt to Adjusted EBITDA ratio (3) 1.59:1 1.36:1 1.50:1 1.80:1 0.88:1 (1) Current ratio is calculated as follows: current assets divided by current liabilities. (2) Debt to EBITDA ratio is calculated as follows: debt less cash divided by the sum of income from continuing operations plus interest, taxes, depreciation, and amortization. (3) Debt to Adjusted EBITDA ratio is calculated as follows: debt less cash divided by the sum of income from continuing operations plus interest, taxes, depreciation, amortization, severance, and certain non-cash adjustments.