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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income Statement [Abstract]      
Revenues(1) [1] $ 4,287,004 $ 4,314,804 $ 3,828,549
Payroll taxes, benefits and workers’ compensation costs 3,480,150 3,581,870 3,146,640
Gross profit 806,854 732,934 681,909
Salaries, wages and payroll taxes 353,273 317,124 301,027
Stock-based compensation 60,145 23,993 20,425
Commissions 32,835 31,420 28,957
Advertising 21,556 21,603 18,554
General and administrative expenses 113,167 123,438 111,068
Depreciation and amortization 31,189 28,723 22,842
Total operating expenses 612,165 546,301 502,873
Operating income 194,689 186,633 179,036
Other income (expense):      
Interest income 2,597 10,657 7,992
Interest expense (8,016) (7,647) (4,668)
Income before income tax expense 189,270 189,643 182,360
Income tax expense 51,033 38,544 46,947
Net income 138,237 151,099 135,413
Less distributed and undistributed earnings allocated to participating securities 782 1,759 1,875
Net income allocated to common shares $ 137,455 $ 149,340 $ 133,538
Basic net income per share of common stock (in dollars per share) $ 3.57 $ 3.72 $ 3.24
Diluted net income per share of common stock (in dollars per share) $ 3.54 $ 3.70 $ 3.22
Gross billings $ 28,168,611 $ 27,212,010 $ 23,830,731
Worksite employee payroll cost $ 23,881,607 $ 22,897,206 $ 20,002,182
[1] Revenues are comprised of gross billings less worksite employee (“WSEE”) payroll costs as follows:
Year ended December 31,
(in thousands)
202020192018
Gross billings
$28,168,611 $27,212,010 $23,830,731 
Less: WSEE payroll cost
23,881,607 22,897,206 20,002,182 
Revenues
$4,287,004 $4,314,804 $3,828,549