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Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Net sales $ 919,981 $ 546,848 $ 1,727,415 $ 1,022,763
Costs of goods sold 580,246 337,865 1,065,866 641,460
Gross profit 339,735 208,983 661,549 381,303
Operating expenses:        
Selling and service 78,777 62,526 147,201 117,665
Research and development 25,344 19,455 47,732 38,104
General and administrative 41,610 29,782 74,509 57,671
Amortization of intangibles 11,052 7,667 20,031 15,448
Total operating expenses 156,783 119,430 289,473 228,888
Income from operations 182,952 89,553 372,076 152,415
Other (expense) income:        
Interest expense (7,721) (7,932) (15,444) (16,985)
Investment income 244 660 847 1,620
Loss on extinguishment of debt [1] (831) 0 (831) 0
Other, net (373) (216) 2,936 (2,130)
Total other expense, net (8,681) (7,488) (12,492) (17,495)
Income before provision for income taxes 174,271 82,065 359,584 134,920
Provision for income taxes 46,362 18,473 81,730 27,917
Net income 127,909 63,592 277,854 107,003
Net income (loss) attributable to noncontrolling interests 873 (2,553) 1,825 (3,602)
Net income attributable to Generac Holdings Inc. $ 127,036 $ 66,145 $ 276,029 $ 110,605
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share) $ 2.06 $ 1.04 $ 4.44 $ 1.73
Weighted average common shares outstanding - basic: (in shares) 62,605,166 62,267,083 62,533,725 62,190,438
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share) $ 2.01 $ 1.02 $ 4.34 $ 1.70
Weighted average common shares outstanding - diluted: (in shares) 64,088,709 63,364,253 64,097,378 63,363,721
Comprehensive income attributable to Generac Holdings Inc. $ 119,246 $ 66,758 $ 273,062 $ 63,660
[1] Represents the non-cash write-off of original issue discount and deferred financing costs due to voluntary prepayment of Term Loan debt.