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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Net revenues:      
-Non-related parties $ 3,101,113 $ 3,624,687 $ 3,221,928
-Related parties 99,470 119,825 168,465
Total net revenues 3,200,583 3,744,512 3,390,393
Cost of revenues:      
-Non-related parties 2,424,476 2,894,611 2,641,583
-Related parties 57,610 74,819 111,212
Total cost of revenues 2,482,086 2,969,430 2,752,795
Gross profit 718,497 775,082 637,598
Operating expenses:      
Selling expenses 180,326 165,402 156,032
General and administrative expenses 242,783 245,376 230,998
Research and development expenses 47,045 44,193 28,777
Other operating income, net (10,536) (44,546) (47,554)
Total operating expenses, net 459,618 410,425 368,253
Income from operations 258,879 364,657 269,345
Other income (expenses):      
Interest expense (81,326) (106,032) (117,971)
Interest income 12,039 11,207 10,477
Loss on change in fair value of derivatives, net (22,218) (19,230) (272)
Foreign exchange gain (loss) 10,370 6,529 (23,449)
Investment income (loss) 1,929 41,361 (3,607)
Other expenses, net (79,206) (66,165) (134,822)
Income before income taxes and equity in earnings of unconsolidated investees 179,673 298,492 134,523
Income tax expense (42,066) (61,969) (40,951)
Equity in earnings (loss) of unconsolidated investees 28,948 5,908 9,411
Net income 166,555 242,431 102,983
Less: net income (loss) attributable to non-controlling interests (5,030) 5,361 3,411
Net income attributable to Canadian Solar Inc. $ 171,585 $ 237,070 $ 99,572
Earnings per share - basic $ 2.88 $ 4.02 $ 1.71
Shares used in computation - basic 59,633,855 58,914,540 58,167,004
Earnings per share - diluted $ 2.83 $ 3.88 $ 1.69
Shares used in computation - diluted 60,777,696 62,291,670 61,548,158