XML 50 R2.htm IDEA: XBRL DOCUMENT v3.19.3
Condensed Consolidated Unaudited Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues $ 1,394,915 $ 1,296,007 $ 3,698,047 $ 3,555,327
Cost of sales 1,060,224 976,998 2,801,612 2,684,719
Gross profit 334,691 319,009 896,435 870,608
Selling, general and administrative expenses 212,902 200,408 589,523 565,519
Other income 3,530 3,696 7,939 8,491
Operating income 125,319 122,297 314,851 313,580
Interest expense, net 1,434 1,047 3,422 2,375
Income before income taxes 123,885 121,250 311,429 311,205
Income taxes 24,230 24,364 60,060 63,678
Net income 99,655 96,886 251,369 247,527
Less: net income attributable to non-controlling interest 16,175 17,723 42,697 44,188
Net income attributable to Watsco, Inc. $ 83,480 $ 79,163 $ 208,672 $ 203,339
Earnings per share for Common and Class B common stock:        
Basic $ 2.20 $ 2.12 $ 5.54 $ 5.44
Diluted $ 2.20 $ 2.11 $ 5.54 $ 5.43