DFIN 2017 Annual Report

ITEM 6. SELECTED FINANCIAL DATA SELECTED FINANCIAL DATA (in millions, except per share data) Year Ended December 31, 2017 2016 2015 2014 2013 Consolidated and combined statements of operations data: Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,004.9 $983.5 $1,049.5 $1,080.1 $1,085.4 Net earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.7 59.1 104.3 57.4 96.3 Net earnings per share (a) Basic net earnings per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.29 1.81 3.22 1.77 2.97 Diluted net earnings per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.29 1.80 3.22 1.77 2.97 Consolidated and combined balance sheet data: Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 893.5 978.9 817.6 994.2 880.5 Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 458.3 587.0 — — — Note payable with an RRD affiliate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 29.2 44.0 58.7 (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. On June 21, 2017, RRD completed the sale of approximately 6.1 million shares of the Company’s common stock in an underwritten public offering. Upon consummation of the offering, RRD retained approximately 0.1 million shares of the Company’s common stock which were subsequently sold by RRD on August 4, 2017. 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, 2017 Spin-off related transaction expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $16.5 $9.9 Restructuring, impairment and other charges—net . . . . . . . . . . . . . . . . . . . . . 7.1 4.2 Share-based compensation expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.8 4.1 Acquisition-related expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.2 0.1 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 23