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Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Net sales $ 1,000,420 $ 1,291,391 $ 1,888,330 $ 2,427,247
Costs of goods sold 671,999 834,406 1,287,410 1,609,514
Gross profit 328,421 456,985 600,920 817,733
Operating expenses:        
Selling and service 115,743 120,066 216,431 218,309
Research and development 43,942 41,599 85,762 81,343
General and administrative 56,371 52,600 116,056 94,572
Amortization of intangibles 26,393 25,876 52,216 51,930
Total operating expenses 242,449 240,141 470,465 446,154
Income from operations 85,972 216,844 130,455 371,579
Other (expense) income:        
Interest expense (25,160) (10,235) (48,155) (19,789)
Investment income 941 92 1,629 169
Loss on extinguishment of debt [1] 0 (3,743) 0 (3,743)
Other, net (331) 505 (497) 751
Total other expense, net (24,550) (13,381) (47,023) (22,612)
Income before provision for income taxes 61,422 203,463 83,432 348,967
Provision for income taxes 15,907 45,826 23,756 74,434
Net income 45,515 157,637 59,676 274,533
Net income attributable to noncontrolling interests 317 1,278 2,048 4,316
Net income attributable to Generac Holdings Inc. $ 45,198 $ 156,359 $ 57,628 $ 270,217
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share) $ 0.70 $ 2.24 $ 0.76 $ 3.85
Weighted average common shares outstanding - basic: (in shares) 61,721,614 63,662,510 61,645,341 63,607,711
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share) $ 0.70 $ 2.21 $ 0.75 $ 3.78
Weighted average common shares outstanding - diluted: (in shares) 62,348,184 64,713,748 62,429,911 64,799,002
Comprehensive income attributable to Generac Holdings Inc. $ 69,060 $ 120,864 $ 104,422 $ 243,229
[1] Represents the write-off of original issue discount and capitalized debt issuance costs due to voluntary debt prepayment.