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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Net sales $ 4,564,737 $ 3,737,184 $ 2,485,200
Costs of goods sold 3,042,733 2,377,102 1,527,546
Gross profit 1,522,004 1,360,082 957,654
Operating expenses:      
Selling and service 496,260 319,020 246,373
Research and development 159,774 104,303 80,251
General and administrative 194,861 144,272 118,233
Acquisition related costs 1,459 21,465 1,411
Amortization of intangibles 103,320 49,886 32,280
Total operating expenses 955,674 638,946 478,548
Income from operations 566,330 721,136 479,106
Other (expense) income:      
Interest expense (54,826) (32,953) (32,991)
Investment income 1,129 1,415 2,182
Loss on extinguishment of debt [1] (3,743) (831) 0
Other, net (424) 2,759 (2,106)
Total other expense, net (57,864) (29,610) (32,915)
Income before provision for income taxes 508,466 691,526 446,191
Provision for income taxes 99,596 134,957 98,973
Net income 408,870 556,569 347,218
Net income attributable to noncontrolling interests 9,368 6,075 (3,358)
Net income attributable to Generac Holdings Inc. 399,502 550,494 350,576
Other comprehensive income (loss):      
Foreign currency translation adjustment (48,841) (41,030) 4,948
Net unrealized gain (loss) on derivatives 38,494 20,529 (14,285)
Other comprehensive income (loss) (10,347) (20,501) (9,337)
Total comprehensive income 398,523 536,068 337,881
Comprehensive income (loss) attributable to noncontrolling interests 11,179 5,496 (364)
Comprehensive income attributable to Generac Holdings Inc. $ 387,344 $ 530,572 $ 338,245
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share) $ 5.55 $ 8.51 $ 5.61
Weighted average common shares outstanding - basic: (in shares) 63,117,007 62,686,001 62,280,889
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share) $ 5.42 $ 8.30 $ 5.48
Weighted average common shares outstanding - diluted: (in shares) 64,681,357 64,253,408 63,737,734
[1] Represents the non-cash write-off of original issue discount and deferred financing costs due primarily to a voluntary prepayment of debt.