XML 16 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Net sales $ 373,121 $ 359,291 $ 1,027,032 $ 959,469
Costs of goods sold 235,349 228,965 667,053 630,643
Gross profit 137,772 130,326 359,979 328,826
Operating expenses:        
Selling and service 44,429 34,715 124,064 93,317
Research and development 9,426 8,332 27,512 24,907
General and administrative 18,066 13,127 55,492 40,897
Amortization of intangibles 9,511 6,285 25,525 17,460
Total operating expenses 81,432 62,459 232,593 176,581
Income from operations 56,340 67,867 127,386 152,245
Other (expense) income:        
Interest expense (11,299) (10,210) (33,714) (32,241)
Investment income 39 36 111
Loss on extinguishment of debt [1] (4,795)
Loss on change in contractual interest rate [2] (2,957) (2,381) (2,957) (2,381)
Costs related to acquisition (577) (153) (994) (153)
Other, net 19 (1,908) 564 (5,357)
Total other expense, net (14,814) (14,613) (37,065) (44,816)
Income before provision for income taxes 41,526 53,254 90,321 107,429
Provision for income taxes 15,514 19,218 33,154 38,864
Net income 26,012 34,036 57,167 68,565
Net loss attributable to noncontrolling interests (171) (112)
Net income attributable to Generac Holdings Inc. $ 26,183 $ 34,036 $ 57,279 $ 68,565
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share) $ 0.41 $ 0.50 $ 0.87 $ 1
Weighted average common shares outstanding - basic: (in shares) 64,615,935 68,175,466 65,506,469 68,642,479
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share) $ 0.40 $ 0.49 $ 0.87 $ 0.98
Weighted average common shares outstanding - diluted: (in shares) 65,126,117 69,182,465 65,992,127 69,781,300
Comprehensive income $ 26,647 $ 31,899 $ 45,723 $ 59,939
[1] Represents the write-off of original issue discount and capitalized debt issuance costs due to voluntary debt prepayments.
[2] For the three and nine months ended September 30, 2016, represents a non-cash loss relating to the continued 25 basis point increase in borrowing costs as a result of the credit agreement leverage ratio remaining above 3.0 times based on current projections. For the three and nine months ended September 30, 2015, represents a non-cash loss relating to a 25 basis point increase in borrowing costs as a result of the credit agreement leverage ratio rising above 3.0 effective third quarter 2015 and remaining above 3.0 times based on projections at the time.