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Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Net sales $ 367,376 $ 288,360 $ 653,911 $ 600,178
Costs of goods sold 243,229 192,463 431,704 401,678
Gross profit 124,147 95,897 222,207 198,500
Operating expenses:        
Selling and service 42,366 28,474 79,635 58,602
Research and development 9,889 8,412 18,086 16,575
General and administrative 19,593 13,564 37,426 27,770
Amortization of intangibles 8,217 5,980 16,014 11,175
Total operating expenses 80,065 56,430 151,161 114,122
Income from operations 44,082 39,467 71,046 84,378
Other (expense) income:        
Interest expense (11,380) (10,763) (22,415) (22,031)
Investment income 4 35 36 72
Loss on extinguishment of debt [1] (3,427) (4,795)
Costs related to acquisition (417)
Other, net 158 (1,840) 545 (3,449)
Total other expense, net (11,218) (15,995) (22,251) (30,203)
Income before provision for income taxes 32,864 23,472 48,795 54,175
Provision for income taxes 11,921 8,628 17,640 19,646
Net income 20,943 14,844 31,155 34,529
Income attributable to noncontrolling interests 55 59
Net income attributable to Generac Holdings Inc. $ 20,888 $ 14,844 $ 31,096 $ 34,529
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share) $ 0.32 $ 0.22 $ 0.47 $ 0.50
Weighted average common shares outstanding - basic: (in shares) 65,870,714 68,961,877 65,955,455 68,886,672
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share) $ 0.31 $ 0.21 $ 0.47 $ 0.49
Weighted average common shares outstanding - diluted: (in shares) 66,388,581 70,063,063 66,465,770 70,099,940
Comprehensive income $ 7,622 $ 15,173 $ 19,076 $ 28,040
[1] Represents the write-off of original issue discount and capitalized debt issuance costs due to voluntary debt prepayments.