Selected Financial Data

(In millions, except per share information) As of and for the full years ended December 31,

SUMMARY BALANCE SHEET 2016 2015
Total current assets
$ 2,289 $ 2,278
Property and equipment, net
1,174 1,102
Other assets, net
101 76
Other intangible assets, net
187 205
Goodwill
1,603 1,553
Total assets
$ 5,354 $ 5,214
     
Total current liabilities
$ 1,205 $ 1,204
Long-term debt and notes payable, net
353 475
Deferred income taxes
193 187
Insurance and other non-current liabilities
260 260
Total equity
3,343 3,088
Total liabilities and stockholders' equity
$ 5,354 $ 5,214
SUMMARY INCOME STATEMENT    
Revenues
$ 7,651 $ 7,572
Operating income
321 238
Net income from continuing operations
attributable to common stock
199 120
Diluted earnings per share from continuing
operations attributable to common stock
$ 1.26 $ 0.62
SUMMARY CASH FLOW    
Net cash provided by operating activities
of continuing operations
$ 381 $ 618
Capital expenditures, net of proceeds
from sales
$ 190 $ 184
Free cash flow (1)
$ 191 $ 434

(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 millions, except per share information) For the Years Ended December 31,

  2013 2014 2015 2016
Reconciliation of adjusted net income from continuing operations attributable to common stock:        
Net income from continuing operations attributable to common stock (GAAP as reported) $ 372 $ 269 $ 120 $ 199
Adjustments:        
Asset impairment charges 58 8
Severance and restructuring charges 6
Acquisition and integration charges 8 15 8 3
Impact of income tax contingency releases (10) (8) (20)
Impact of tax benefit from realization of previously unrecognized deferred tax asset (4)
Impact of Alberta tax law change 5
Provision for long-term contract receivable 102
Arbitration expense 39
Impact of sale of equity ownership in Howard Energy (113)
Income tax impact of adjustments 40 (56) (16) (4)
Adjusted net income from continuing operations attributable to common
stock before certain non-cash adjustments
297 361 171 192
Non-cash stock based compensation 35 38 37 41
Amortization of intangible assets 26 34 35 31
Income tax impact of non-tax adjustments (23) (26) (26) (26)
Adjusted net income from continuing operations attributable to common stock $ 335 $ 407 $ 217 $ 238
Weighted average shares:        
Weighted average shares outstanding for diluted earnings per share 215 220 195 157
Weighted average shares outstanding for adjusted diluted earnings per share 215 220 195 157
Diluted earnings per share from continuing operations attributable to
common stock and adjusted diluted earnings per share from continuing
operations attributable to common stock
Diluted earnings per share from continuing operations attributable
to common stock
$ 1.73 $ 1.22 $ 0.62 $ 1.26
Adjusted diluted earnings per share from continuing operations attributable
to common stock
$ 1.56 $ 1.85 $ 1.11 $ 1.51

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