Financial Highlights

Fiscal
2016 2015 2014
(Dollars in millions, except per share data)
Operating Highlights
Revenue $2,494.6 $2,691.6 $2,761.1
Net earnings
Reported $87.7 $122.8 $133.1
Adjusted (1) $133.7 $148.4 $165.2
Cash and cash equivalents $369.8 $194.1 $223.8
Accounts receivable $263.3 $298.9 $312.7
Inventory $348.7 $466.6 $414.0
Debt $820.7 $809.8 $887.6
Capital expenditures $55.3 $46.4 $30.0
Key Ratios
Gross margin 38.5% 39.1% 39.3%
Operating margin      
Reported 6.4% 7.5% 8.3%
Adjusted (1) 8.5% 8.9% 9.9%
Effective income tax rate 20.8% 25.2% 26.2%
Diluted Earnings Per Share
Reported $0.89 $1.20 $1.30
Adjusted (1) $1.36 $1.45 $1.62
Corporate Statistics
Shares used for computing diluted earnings per share (in millions) 96.2 100.0 100.1
Number of employees at year end 5,860 6,550 6,600

Notes to Financial Highlights:

  • 1Adjusted financial results exclude restructuring and impairment costs, organizational transformation costs, and debt extinguishment and other costs, where applicable.

Market Information

Wolverine Worldwide is traded on the New York Stock Exchange under the symbol "WWW." The following table shows the high and low stock prices on the New York Stock Exchange and dividends declared by fiscal quarter for 2016 and 2015. The number of stockholders of record on February 17, 2017, was 1,637.

Stock Price:
Fiscal
2016 2015
High Low High Low
1st quarter $20.23 $14.74 $32.57 $26.86
2nd quarter $20.70 $16.44 $35.20 $28.54
3rd quarter $25.54 $18.51 $29.94 $24.98
4th quarter $25.31 $20.58 $27.24 $16.70
Cash Dividends Declared Per Share:
Fiscal
2016 2015
1st quarter $0.06 $0.06
2nd quarter $0.06 $0.06
3rd quarter $0.06 $0.06
4th quarter $0.06 $0.06
$0.24 $0.24

A quarterly dividend of $0.06 per share was declared during the first quarter of fiscal 2017.

GAAP tables