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Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Net sales $ 1,088,258 $ 942,698 $ 3,515,505 $ 2,670,113
Costs of goods sold 727,154 606,704 2,336,668 1,672,570
Gross profit 361,104 335,994 1,178,837 997,543
Operating expenses:        
Selling and service 170,381 82,242 388,690 229,443
Research and development 39,985 27,165 121,328 74,897
General and administrative 37,464 40,802 132,036 115,311
Amortization of intangibles 25,751 12,206 77,681 32,237
Total operating expenses 273,581 162,415 719,735 451,888
Income from operations 87,523 173,579 459,102 545,655
Other (expense) income:        
Interest expense (15,514) (7,980) (35,303) (23,424)
Investment income 451 165 620 1,012
Loss on extinguishment of debt [1] 0 0 (3,743) (831)
Other, net (420) (400) 331 2,536
Total other expense, net (15,483) (8,215) (38,095) (20,707)
Income before provision for income taxes 72,040 165,364 421,007 524,948
Provision for income taxes 11,594 32,611 86,028 114,341
Net income 60,446 132,753 334,979 410,607
Net income attributable to noncontrolling interests 2,176 1,183 6,492 3,008
Net income attributable to Generac Holdings Inc. $ 58,270 $ 131,570 $ 328,487 $ 407,599
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share) $ 0.84 $ 1.98 $ 4.69 $ 6.42
Weighted average common shares outstanding - basic: (in shares) 63,249,881 62,690,437 63,480,161 62,583,957
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share) $ 0.83 $ 1.93 $ 4.61 $ 6.27
Weighted average common shares outstanding - diluted: (in shares) 64,267,638 64,208,116 64,630,346 64,146,281
Comprehensive income attributable to Generac Holdings Inc. $ 21,683 $ 113,727 $ 264,912 $ 386,789
[1] Represents the non-cash write-off of original issue discount and deferred financing costs due primarily to a voluntary prepayment of Term Loan debt.