DFS Annual Report

ITEM 6. SELECTED FINANCIAL DATA SELECTED FINANCIAL DATA (in millions, except per share data) Year Ended December 31, 2016 2015 2014 2013 2012 Consolidated and combined statements of operations data: Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $983.5 $1,049.5 $1,080.1 $1,085.4 $1,061.0 Net earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59.1 104.3 57.4 96.3 71.7 Net earnings per share (a) Basic net earnings per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.81 3.22 1.77 2.97 2.21 Diluted net earnings per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.80 3.22 1.77 2.97 2.21 Consolidated and combined balance sheet data: Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 978.9 817.6 994.2 880.5 926.7 Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 587.0 — — — — Note payable with an RRD affiliate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 29.2 44.0 58.7 73.1 (a) On October 1, 2016, RRD distributed approximately 26.2 million shares of Donnelley Financial common stock to RRD shareholders in connection with the spin-off of Donnelley Financial, with RRD retaining approximately 6.2 million shares of Donnelley Financial common stock. For periods prior to the Separation, basic and diluted earnings per share were calculated using the number of shares distributed and retained by RRD, totaling 32.4 million. The same number of shares was used to calculate basic and diluted earnings per share since there were no Donnelley Financial equity awards outstanding prior to the spin-off. Reflects results of acquired businesses from the relevant acquisition dates. Includes the following significant items: Pre-tax After-tax Year ended December 31, 2016 Restructuring, impairment and other charges—net . . . . . . . . . . . . . . . . . . . . . $5.4 $3.3 Spin-off related transaction expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.9 3.0 Share-based compensation expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.5 1.5 Pre-tax After-tax Year ended December 31, 2015 Restructuring, impairment and other charges—net . . . . . . . . . . . . . . . . . . . . . $4.4 $2.8 Share-based compensation expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.6 1.0 Pre-tax After-tax Year ended December 31, 2014 Pension settlement charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $95.7 $58.4 Restructuring, impairment and other charges—net . . . . . . . . . . . . . . . . . . . . . 4.8 3.1 Gain on the sale of a building . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (6.1) (3.7) Gain from the sale of an equity investment . . . . . . . . . . . . . . . . . . . . . . . . . . . (3.0) (1.8) Share-based compensation expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.1 1.3 Pre-tax After-tax Year ended December 31, 2013 Restructuring, impairment and other charges—net . . . . . . . . . . . . . . . . . . . . . $13.0 $8.0 Share-based compensation expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.1 1.3 Pre-tax After-tax Year ended December 31, 2012 Restructuring, impairment and other charges—net . . . . . . . . . . . . . . . . . . . . . $14.0 $8.5 Loss on an equity investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.0 2.4 Share-based compensation expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.5 1.5 23