XML 14 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Unaudited Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues $ 1,355,385 $ 1,371,854 $ 2,363,541 $ 2,303,132
Cost of sales 1,036,186 1,043,870 1,796,727 1,741,388
Gross profit 319,199 327,984 566,814 561,744
Selling, general and administrative expenses 194,053 196,549 397,439 376,621
Other income 4,103 2,965 5,117 4,409
Operating income 129,249 134,400 174,492 189,532
Interest expense, net 283 1,212 1,073 1,988
Income before income taxes 128,966 133,188 173,419 187,544
Income taxes 24,724 25,278 32,930 35,830
Net income 104,242 107,910 140,489 151,714
Less: net income attributable to non-controlling interest 17,664 17,755 23,409 26,522
Net income attributable to Watsco, Inc. $ 86,578 $ 90,155 $ 117,080 $ 125,192
Earnings per share for Common and Class B common stock:        
Basic $ 2.26 $ 2.40 $ 3.03 $ 3.34
Diluted $ 2.26 $ 2.40 $ 3.02 $ 3.34