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Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Net sales $ 1,291,391 $ 919,981 $ 2,427,247 $ 1,727,415
Costs of goods sold 834,406 580,246 1,609,514 1,065,866
Gross profit 456,985 339,735 817,733 661,549
Operating expenses:        
Selling and service 120,066 78,777 218,309 147,201
Research and development 41,599 25,344 81,343 47,732
General and administrative 52,600 41,610 94,572 74,509
Amortization of intangibles 25,876 11,052 51,930 20,031
Total operating expenses 240,141 156,783 446,154 289,473
Income from operations 216,844 182,952 371,579 372,076
Other (expense) income:        
Interest expense (10,235) (7,721) (19,789) (15,444)
Investment income 92 244 169 847
Loss on extinguishment of debt 3,743 831 [1] 3,743 [1] 831 [1]
Other, net 505 (373) 751 2,936
Total other expense, net (13,381) (8,681) (22,612) (12,492)
Income before provision for income taxes 203,463 174,271 348,967 359,584
Provision for income taxes 45,826 46,362 74,434 81,730
Net income 157,637 127,909 274,533 277,854
Net income attributable to noncontrolling interests 1,278 873 4,316 1,825
Net income attributable to Generac Holdings Inc. $ 156,359 $ 127,036 $ 270,217 $ 276,029
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share) $ 2.24 $ 2.06 $ 3.85 $ 4.44
Weighted average common shares outstanding - basic: (in shares) 63,662,510 62,605,166 63,607,711 62,533,725
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share) $ 2.21 $ 2.01 $ 3.78 $ 4.34
Weighted average common shares outstanding - diluted: (in shares) 64,713,748 64,088,709 64,799,002 64,097,378
Comprehensive income attributable to Generac Holdings Inc. $ 120,864 $ 119,246 $ 243,229 $ 273,062
[1] Represents the non-cash write-off of original issue discount and deferred financing costs due primarily to a voluntary prepayment of Term Loan debt.