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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue:        
Total revenue $ 860,546 $ 826,142 $ 1,697,095 $ 1,603,849
Cost of Revenue:        
Cost of revenue 346,514 336,834 684,310 643,759
Gross profit 514,032 489,308 1,012,785 960,090
Expenses:        
Sales and marketing 130,257 119,032 262,549 233,843
General and administrative 81,488 73,326 159,437 144,096
Research and development 123,221 37,697 163,389 75,276
Income from operations 179,066 259,253 427,410 506,875
Interest expense (8,317) (7,613) (15,313) (15,197)
Interest income 334 91 477 143
Income before provision for income taxes 171,083 251,731 412,574 491,821
Provision for income taxes 39,104 49,125 86,630 84,926
Net income 131,979 202,606 325,944 406,895
Less: Net income attributable to noncontrolling interest 0 24 0 56
Net income attributable to IDEXX Laboratories, Inc. stockholders $ 131,979 $ 202,582 $ 325,944 $ 406,839
Earnings per Share:        
Basic (in USD per share) $ 1.57 $ 2.37 $ 3.87 $ 4.76
Diluted (in USD per share) $ 1.56 $ 2.34 $ 3.82 $ 4.69
Weighted Average Shares Outstanding:        
Basic (in shares) 83,922 85,325 84,164 85,427
Diluted (in shares) 84,858 86,654 85,222 86,794
Product revenue        
Revenue:        
Total revenue $ 492,518 $ 480,715 $ 970,895 $ 935,063
Cost of Revenue:        
Cost of revenue 167,323 169,832 329,394 317,102
Service revenue        
Revenue:        
Total revenue 368,028 345,427 726,200 668,786
Cost of Revenue:        
Cost of revenue $ 179,191 $ 167,002 $ 354,916 $ 326,657