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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenue:        
Total revenue $ 637,592 $ 620,103 $ 1,263,928 $ 1,196,159
Cost of Revenue:        
Total cost of revenue 258,250 262,250 524,996 506,709
Gross profit 379,342 357,853 738,932 689,450
Expenses:        
Sales and marketing 94,181 101,364 210,324 207,948
General and administrative 60,268 59,955 126,080 120,316
Research and development 31,645 32,259 64,955 63,773
Income from operations 193,248 164,275 337,573 297,413
Interest expense (9,495) (8,186) (17,187) (16,572)
Interest income 69 33 209 73
Income before provision for income taxes 183,822 156,122 320,595 280,914
Provision for income taxes 34,826 30,421 59,743 52,504
Net income 148,996 125,701 260,852 228,410
Less: Net income (loss) attributable to noncontrolling interest 56 (5) 85 23
Net income attributable to IDEXX Laboratories, Inc. stockholders $ 148,940 $ 125,706 $ 260,767 $ 228,387
Earnings per Share:        
Basic (in dollars per share) $ 1.75 $ 1.46 $ 3.06 $ 2.65
Diluted (in dollars per share) $ 1.72 $ 1.43 $ 3.01 $ 2.61
Weighted Average Shares Outstanding:        
Basic (in shares) 85,134 86,215 85,282 86,210
Diluted (in shares) 86,402 87,615 86,568 87,594
Product revenue        
Revenue:        
Total revenue $ 366,058 $ 365,638 $ 730,831 $ 699,696
Cost of Revenue:        
Total cost of revenue 124,024 127,893 249,478 245,276
Service revenue        
Revenue:        
Total revenue 271,534 254,465 533,097 496,463
Cost of Revenue:        
Total cost of revenue $ 134,226 $ 134,357 $ 275,518 $ 261,433