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Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Net sales $ 494,949 $ 394,875 $ 892,583 $ 725,360
Costs of goods sold 318,693 261,954 576,338 483,639
Gross profit 176,256 132,921 316,245 241,721
Operating expenses:        
Selling and service 46,052 42,010 88,734 81,477
Research and development 12,616 10,553 24,469 20,840
General and administrative 26,639 21,407 50,114 42,380
Amortization of intangibles 5,482 7,129 11,114 14,312
Total operating expenses 90,789 81,099 174,431 159,009
Income from operations 85,467 51,822 141,814 82,712
Other (expense) income:        
Interest expense (11,002) (10,893) (21,115) (21,681)
Investment income 367 38 713 43
Loss on extinguishment of debt [1] (1,332) (1,332)
Costs related to acquisition (26) (136) (37) (321)
Other, net (861) (1,577) (2,244) (1,494)
Total other expense, net (12,854) (12,568) (24,015) (23,453)
Income before provision for income taxes 72,613 39,254 117,799 59,259
Provision for income taxes 18,382 13,878 29,798 21,701
Net income 54,231 25,376 88,001 37,558
Net income attributable to noncontrolling interests 970 85 1,095 92
Net income attributable to Generac Holdings Inc. $ 53,261 $ 25,291 $ 86,906 $ 37,466
Net income attributable to common shareholders per common share - basic: (in dollars per share) $ 0.83 $ 0.41 $ 1.25 $ 0.62
Weighted average common shares outstanding - basic: (in shares) 61,534,423 62,146,393 61,696,014 62,260,170
Net income attributable to common shareholders per common share - diluted: (in dollars per share) $ 0.82 $ 0.41 $ 1.24 $ 0.61
Weighted average common shares outstanding - diluted: (in shares) 62,054,447 62,635,437 62,259,712 62,849,877
Comprehensive income attributable to Generac Holdings Inc. $ 47,884 $ 32,208 $ 92,587 $ 47,928
[1] Represents the non-cash write-off of original issue discount and deferred financing costs due to a voluntary prepayment of Term Loan debt.