XML 13 R2.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Unaudited Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues $ 2,003,084 $ 2,133,755 $ 3,553,725 $ 3,657,325
Cost of sales 1,440,462 1,538,222 2,542,946 2,611,434
Gross profit 562,622 595,533 1,010,779 1,045,891
Selling, general and administrative expenses 304,155 314,753 591,212 598,107
Other income 7,238 6,317 10,878 10,362
Operating income 265,705 287,097 430,445 458,146
Interest expense, net 3,415 1,110 4,030 1,668
Income before income taxes 262,290 285,987 426,415 456,478
Income taxes 56,887 60,481 90,641 96,082
Net income 205,403 225,506 335,774 360,396
Less: net income attributable to non-controlling interest 32,639 32,949 52,937 54,541
Net income attributable to Watsco, Inc. $ 172,764 $ 192,557 $ 282,837 $ 305,855
Earnings per share for Common and Class B common stock:        
Basic $ 4.43 $ 4.94 $ 7.27 $ 7.86
Diluted $ 4.42 $ 4.93 $ 7.25 $ 7.83