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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenue:        
Total revenue $ 721,789 $ 605,303 $ 1,985,717 $ 1,801,462
Cost of Revenue:        
Total cost of revenue 299,183 260,353 824,179 767,062
Gross profit 422,606 344,950 1,161,538 1,034,400
Expenses:        
Sales and marketing 108,202 104,551 318,526 312,499
General and administrative 105,031 66,337 231,111 186,653
Research and development 37,517 34,260 102,472 98,033
Income from operations 171,856 139,802 509,429 437,215
Interest expense (8,110) (7,090) (25,297) (23,662)
Interest income 208 86 417 159
Income before provision for income taxes 163,954 132,798 484,549 413,712
Provision for income taxes 17,633 23,960 77,376 76,464
Net income 146,321 108,838 407,173 337,248
Less: Net income attributable to noncontrolling interest 102 1 187 24
Net income attributable to IDEXX Laboratories, Inc. stockholders $ 146,219 $ 108,837 $ 406,986 $ 337,224
Earnings per Share:        
Basic (in dollars per share) $ 1.71 $ 1.26 $ 4.77 $ 3.91
Diluted (in dollars per share) $ 1.69 $ 1.24 $ 4.70 $ 3.85
Weighted Average Shares Outstanding:        
Basic (in shares) 85,314 86,198 85,293 86,206
Diluted (in shares) 86,690 87,667 86,635 87,633
Product revenue        
Revenue:        
Total revenue $ 422,283 $ 360,000 $ 1,153,114 $ 1,059,696
Cost of Revenue:        
Total cost of revenue 146,804 125,112 396,282 370,388
Service revenue        
Revenue:        
Total revenue 299,506 245,303 832,603 741,766
Cost of Revenue:        
Total cost of revenue $ 152,379 $ 135,241 $ 427,897 $ 396,674