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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenue:        
Total revenue $ 605,303 $ 545,448 $ 1,801,462 $ 1,663,856
Cost of Revenue:        
Cost of service revenue 260,353 239,805 767,062 722,675
Gross profit 344,950 305,643 1,034,400 941,181
Expenses:        
Sales and marketing 104,551 95,146 312,499 291,502
General and administrative 66,337 63,955 186,653 185,966
Research and development 34,260 29,192 98,033 87,725
Income from operations 139,802 117,350 437,215 375,988
Interest expense (7,090) (8,453) (23,662) (26,184)
Interest income 86 142 159 893
Income before provision for income taxes 132,798 109,039 413,712 350,697
Provision for income taxes 23,960 15,825 76,464 59,327
Net income 108,838 93,214 337,248 291,370
Less: Net income (loss) attributable to noncontrolling interest 1 (37) 24 (23)
Net income attributable to IDEXX Laboratories, Inc. stockholders $ 108,837 $ 93,251 $ 337,224 $ 291,393
Earnings per Share:        
Basic (in dollars per share) $ 1.26 $ 1.07 $ 3.91 $ 3.35
Diluted (in dollars per share) $ 1.24 $ 1.05 $ 3.85 $ 3.29
Weighted Average Shares Outstanding:        
Basic (in shares) 86,198 86,756 86,206 87,029
Diluted (in shares) 87,667 88,453 87,633 88,687
Product revenue        
Revenue:        
Total revenue $ 360,000 $ 324,303 $ 1,059,696 $ 990,364
Cost of Revenue:        
Cost of service revenue 125,112 120,294 370,388 365,810
Service revenue        
Revenue:        
Total revenue 245,303 221,145 741,766 673,492
Cost of Revenue:        
Cost of service revenue $ 135,241 $ 119,511 $ 396,674 $ 356,865