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Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues $ 4,220,702 [1] $ 4,113,239 [1] $ 3,944,540
Cost of sales 3,186,118 3,105,882 2,988,138
Gross profit 1,034,584 1,007,357 956,402
Selling, general and administrative expenses 688,952 670,609 650,655
Operating income 345,632 336,748 305,747
Interest expense, net 3,713 5,547 5,206
Income before income taxes 341,919 331,201 300,541
Income taxes 105,936 104,677 91,839
Net income 235,983 226,524 208,702
Less: net income attributable to non-controlling interest 53,173 53,595 57,315
Net income attributable to Watsco, Inc. $ 182,810 $ 172,929 $ 151,387
Earnings per share for Common and Class B common stock:      
Basic $ 5.16 [2] $ 4.91 [2] $ 4.33
Diluted $ 5.15 [2] $ 4.90 [2] $ 4.32
[1] Sales of residential central air conditioners, heating equipment and parts and supplies are seasonal. Demand related to the residential central air conditioning replacement market is typically highest in the second and third quarters, and demand for heating equipment is usually highest in the fourth quarter. Demand related to the new construction sectors throughout most of the markets is fairly even during the year except for dependence on housing completions and related weather and economic conditions.
[2] Quarterly and year-to-date earnings per share are calculated on an individual basis; therefore, the sum of earnings per share amounts for the quarters may not equal earnings per share amounts for the year.