XML 14 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Unaudited Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues $ 1,296,007 $ 1,229,591 $ 3,555,327 $ 3,377,610
Cost of sales 976,998 933,696 2,684,719 2,552,881
Gross profit 319,009 295,895 870,608 824,729
Selling, general and administrative expenses 200,408 183,728 565,519 534,515
Other income 3,696 2,294 8,491 2,294
Operating income 122,297 114,461 313,580 292,508
Interest expense, net 1,047 2,117 2,375 5,019
Income before income taxes 121,250 112,344 311,205 287,489
Income taxes 24,364 32,325 63,678 82,855
Net income 96,886 80,019 247,527 204,634
Less: net income attributable to non-controlling interest 17,723 14,990 44,188 39,668
Net income attributable to Watsco, Inc. $ 79,163 $ 65,029 $ 203,339 $ 164,966
Earnings per share for Common and Class B common stock:        
Basic $ 2.12 $ 1.82 $ 5.44 $ 4.62
Diluted $ 2.11 $ 1.82 $ 5.43 $ 4.62