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Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Net sales $ 559,515 $ 455,839 $ 1,452,098 $ 1,181,199
Costs of goods sold 361,630 299,608 937,968 783,247
Gross profit 197,885 156,231 514,130 397,952
Operating expenses:        
Selling and service 46,536 43,463 135,270 124,940
Research and development 13,653 10,850 38,122 31,690
General and administrative 25,499 22,128 75,613 64,508
Amortization of intangibles 5,678 7,242 16,792 21,554
Total operating expenses 91,366 83,683 265,797 242,692
Income from operations 106,519 72,548 248,333 155,260
Other (expense) income:        
Interest expense (9,824) (10,672) (30,939) (32,353)
Investment income 382 14 1,095 57
Loss on extinguishment of debt [1] (1,332)
Other, net (483) (1,710) (2,764) (3,525)
Total other expense, net (9,925) (12,368) (33,940) (35,821)
Income before provision for income taxes 96,594 60,180 214,393 119,439
Provision for income taxes 20,072 20,404 49,870 42,105
Net income 76,522 39,776 164,523 77,334
Net income attributable to noncontrolling interests 746 341 1,841 433
Net income attributable to Generac Holdings Inc. $ 75,776 $ 39,435 $ 162,682 $ 76,901
Net income attributable to common shareholders per common share - basic: (in dollars per share) $ 1.12 $ 0.64 $ 2.36 $ 1.25
Weighted average common shares outstanding - basic: (in shares) 61,579,564 61,758,190 61,659,817 62,094,807
Net income attributable to common shareholders per common share - diluted: (in dollars per share) $ 1.11 $ 0.63 $ 2.34 $ 1.24
Weighted average common shares outstanding - diluted: (in shares) 62,220,298 62,316,788 62,266,140 62,703,269
Comprehensive income attributable to Generac Holdings Inc. $ 80,768 $ 42,939 $ 173,355 $ 90,867
[1] Represents the non-cash write-off of original issue discount and deferred financing costs due to a voluntary prepayment of Term Loan debt.