XML 52 R4.htm IDEA: XBRL DOCUMENT v3.19.3
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Net sales $ 601,135 $ 562,388 $ 1,613,404 $ 1,460,060
Costs of goods sold 383,618 362,054 1,037,874 939,326
Gross profit 217,517 200,334 575,530 520,734
Operating expenses:        
Selling and service 59,356 48,985 158,954 141,874
Research and development 17,603 13,653 48,906 38,122
General and administrative 27,596 25,499 80,016 75,613
Amortization of intangibles 7,406 5,678 19,999 16,792
Total operating expenses 111,961 93,815 307,875 272,401
Income from operations 105,556 106,519 267,655 248,333
Other (expense) income:        
Interest expense (10,704) (9,824) (31,428) (30,939)
Investment income 523 382 1,889 1,095
Loss on extinguishment of debt [1] 0 0 0 (1,332)
Other, net (414) (483) (1,868) (2,764)
Total other expense, net (10,595) (9,925) (31,407) (33,940)
Income before provision for income taxes 94,961 96,594 236,248 214,393
Provision for income taxes 20,064 20,072 53,876 49,870
Net income 74,897 76,522 182,372 164,523
Net (loss) income attributable to noncontrolling interests (677) 746 (21) 1,841
Net income attributable to Generac Holdings Inc. $ 75,574 $ 75,776 $ 182,393 $ 162,682
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share) $ 1.20 $ 1.12 $ 2.95 $ 2.36
Weighted average common shares outstanding - basic: (in shares) 61,973,447 61,579,564 61,878,500 61,659,817
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share) $ 1.18 $ 1.11 $ 2.92 $ 2.34
Weighted average common shares outstanding - diluted: (in shares) 62,770,592 62,220,298 62,519,205 62,266,140
Comprehensive income attributable to Generac Holdings Inc. $ 64,904 $ 80,768 $ 161,828 $ 173,355
[1] Represents the non-cash write-off of original issue discount and deferred financing costs due to a voluntary prepayment of Term Loan debt.