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Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Net sales $ 701,355 $ 601,135 $ 1,724,118 $ 1,613,404
Costs of goods sold 425,206 383,618 1,066,666 1,037,874
Gross profit 276,149 217,517 657,452 575,530
Operating expenses:        
Selling and service 60,901 59,356 178,566 158,954
Research and development 20,658 17,603 58,762 48,906
General and administrative 31,061 27,596 88,732 80,016
Amortization of intangibles 7,892 7,406 23,340 19,999
Total operating expenses 120,512 111,961 349,400 307,875
Income from operations 155,637 105,556 308,052 267,655
Other (expense) income:        
Interest expense (8,096) (10,704) (25,081) (31,428)
Investment income 301 523 1,921 1,889
Other, net (557) (414) (2,687) (1,868)
Total other expense, net (8,352) (10,595) (25,847) (31,407)
Income before provision for income taxes 147,285 94,961 282,205 236,248
Provision for income taxes 32,050 20,064 59,967 53,876
Net income 115,235 74,897 222,238 182,372
Net income (loss) attributable to noncontrolling interests 265 (677) (3,337) (21)
Net income attributable to Generac Holdings Inc. $ 114,970 $ 75,574 $ 225,575 $ 182,393
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share) $ 1.86 $ 1.20 $ 3.59 $ 2.95
Weighted average common shares outstanding - basic: (in shares) 62,353,473 61,973,447 62,244,872 61,878,500
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share) $ 1.82 $ 1.18 $ 3.51 $ 2.92
Weighted average common shares outstanding - diluted: (in shares) 63,761,380 62,770,592 63,546,132 62,519,205
Comprehensive income attributable to Generac Holdings Inc. $ 123,887 $ 64,904 $ 187,548 $ 161,828