ITEM 6.
SELECTED FINANCIAL DATA The following selected financial data is qualified by reference to, and should be read in conjunction with, the Consolidated Financial Statements, including the notes thereto, and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included elsewhere in this Form 10-K.
## Table 0 ##
Our net revenues for the full year 2016 were $4,825.3 million, which reflects a revision from the $4,828.2 million reported in our earnings release, filed January 31, 2017, on Form 8-K.
This revision reflects a $2.9 million adjustment related to a return credit for footwear that was identified in connection with the closing of our January 2017 books and records, following the earnings release.
As a result,
other items on our Consolidated Financial Statements have been appropriately adjusted from the amounts provided in the earnings release, including a reduction of our full year 2016 gross profit and income from operations by $2.9 million, and a reduction of net income by $1.7 million.
## Table 1 ##
(1) Working capital is defined as current assets minus current liabilities.
In March 2016, the FASB issued ASU 2016-09, which effects all entities that issue share-based payment awards to their employees.
The amendments in this ASU cover such areas as the recognition of excess tax benefits and deficiencies, the classification of those excess tax benefits on the statement of cash flows, an accounting policy election for forfeitures, the amount an employer can withhold to cover income taxes and still qualify for equity classification and the classification of those taxes paid on the statement of cash flows.
This ASU is effective for annual and interim periods beginning after December 15, 2016.
This guidance can be applied either prospectively, retrospectively or using a modified retrospective transition method.
Early adoption is permitted.
The Company will not early adopt this ASU.
The adoption of this guidance may have a material impact on the Company’s effective tax rate and income tax expense, depending in part on whether significant employee stock option exercises occur.
In August 2016, the FASB issued ASU 2016-15, which eliminates the diversity in practice related to the classification of certain cash receipts and payments in the statement of cash flows, by adding or clarifying guidance on eight specific cash flow issues.
This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years.
The Company does not believe this ASU will have a material impact on its consolidated financial statements.
In October 2016, the FASB issued ASU 2016-16, which will require an entity to recognize the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs.
This ASU is effective for annual and interim periods beginning after December 15, 2017, with early adoption permitted in the first interim period of 2017.
Upon adoption, any deferred charge established upon an intra-company transfer would be recorded as a cumulative-effect adjustment to retained earnings.
At December 31, 2016, the Company had a deferred charge of $26.0 million with $1.8 million and $24.2 million recorded within Prepaid expenses and Other long term assets, respectively.
The Company plans to adopt this ASU during the interim period ending March 31, 2017.
Recently Adopted Accounting Standards In April 2015, the FASB issued ASU 2015-03, which requires costs incurred to issue debt to be presented in the balance sheet as a direct deduction from the carrying value of the debt.
This ASU is effective for annual and interim reporting periods beginning after December 15, 2015, with early adoption permitted.
The Company adopted the provisions of this ASU in the first quarter of 2016, and reclassified approximately $2.9 million from “Other long term assets” to “Long term debt, net of current maturities” as of December 31, 2015.3.
Property and Equipment, Net Property and equipment consisted of the following:
## Table 2 ##

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Year Ended December 31,
(In thousands, except per share amounts)	2016	2015	2014	2013	2012
Net revenues	$4,825,335	$3,963,313	$3,084,370	$2,332,051	$1,834,921
Cost of goods sold	2,584,724	2,057,766	1,572,164	1,195,381	955,624
Gross profit	2,240,611	1,905,547	1,512,206	1,136,670	879,297
Selling, general and administrative expenses	1,823,140	1,497,000	1,158,251	871,572	670,602
Income from operations	417,471	408,547	353,955	265,098	208,695
Interest expense, net	-26,434	-14,628	-5,335	-2,933	-5,183
Other expense, net	-2,755	-7,234	-6,410	-1,172	-73
Income before income taxes	388,282	386,685	342,210	260,993	203,439
Provision for income taxes	131,303	154,112	134,168	98,663	74,661
Net income	256,979	232,573	208,042	162,330	128,778
Adjustment payment to Class C	59,000	—	—	—	—
Net income available to all stockholders	$197,979	$232,573	$208,042	$162,330	$128,778
Net income available per common share
Basic net income per share of Class A and B common stock	$0.45	$0.54	$0.49	$0.39	$0.31
Basic net income per share of Class C common stock	$0.72	$0.54	$0.49	$0.39	$0.31
Diluted net income per share of Class A and B common stock	$0.45	$0.53	$0.47	$0.38	$0.30
Diluted net income per share of Class C common stock	$0.71	$0.53	$0.47	$0.38	$0.30
Weighted average common shares outstanding Class A and B common stock
Basic	217,707	215,498	213,227	210,696	208,686
Diluted	221,944	220,868	219,380	215,958	212,760
Weighted average common shares outstanding Class C common stock
Basic	218,623	215,498	213,227	210,696	208,686
Diluted	222,904	220,868	219,380	215,958	212,760
Dividends declared	$59,000	$—	$—	$—	$—

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At December 31,
(In thousands)	2016	2015	2014	2013	2012
Cash and cash equivalents	$250,470	$129,852	$593,175	$347,489	$341,841
Working capital -1	1,279,337	1,019,953	1,127,772	702,181	651,370
Inventories	917,491	783,031	536,714	469,006	319,286
Total assets	3,644,331	2,865,970	2,092,428	1,576,369	1,155,052
Total debt, including current maturities	817,388	666,070	281,546	151,551	59,858
Total stockholders’ equity	$2,030,900	$1,668,222	$1,350,300	$1,053,354	$816,922

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December 31,
(In thousands)	2016	2015
Leasehold and tenant improvements	$326,617	$214,834
Furniture, fixtures and displays	168,720	132,736
Buildings	47,216	47,137
Software	151,059	99,309
Office equipment	75,196	50,399
Plant equipment	124,140	118,138
Land	83,574	17,628
Construction in progress	204,362	147,581
Other	20,383	4,002
Subtotal property and equipment	1,201,267	831,764
Accumulated depreciation	-397,056	-293,233
Property and equipment, net	$804,211	$538,531

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Question: What is the growing rate of Gross profit in the year with the most Net revenues ?
Answer: 0.14954