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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Total revenues $ 356,976 $ 344,141 $ 1,020,353 $ 966,466
Cost of revenues 55,822 61,716 171,755 172,995
Gross profit 301,154 282,425 848,598 793,471
Operating expenses:        
Sales and marketing 95,074 98,486 287,317 273,812
Research, development and engineering 14,261 13,770 43,273 38,692
General and administrative 114,381 110,810 312,283 314,132
Total operating expenses 223,716 223,066 642,873 626,636
Income from operations 77,438 59,359 205,725 166,835
Interest expense, net 22,712 17,271 65,879 50,625
Gain on sale of businesses (17,122) 0 (17,122) 0
Loss on investments, net 156 7 20,991 45
Other (income) expense, net (14,230) 857 (16,413) 2,657
Income before income taxes and net loss (income) in earnings of equity method investment 85,922 41,224 152,390 113,508
Income tax expense 24,330 6,998 49,011 17,851
Net loss (income) in earnings of equity method investment 709 3,481 10,799 (126)
Net income $ 60,883 $ 30,745 $ 92,580 $ 95,783
Net income per common share:        
Basic (in usd per share) $ 1.31 $ 0.63 $ 1.96 $ 1.98
Diluted (in usd per share) $ 1.31 $ 0.62 $ 1.93 $ 1.93
Weighted average shares outstanding:        
Basic (in shares) 46,279,515 47,673,211 46,914,750 47,654,327
Diluted (in shares) 46,309,072 49,064,272 47,620,308 48,892,523
Share-based compensation expense $ 5,800 $ 6,446 $ 18,643 $ 18,394
Cost of revenues        
Weighted average shares outstanding:        
Share-based compensation expense 136 127 413 390
Sales and marketing        
Weighted average shares outstanding:        
Share-based compensation expense 321 419 1,135 1,212
Research, development and engineering        
Weighted average shares outstanding:        
Share-based compensation expense 425 373 1,340 1,092
General and administrative        
Weighted average shares outstanding:        
Share-based compensation expense $ 4,918 $ 5,527 $ 15,755 $ 15,700