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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue:        
Total revenue $ 810,421 $ 721,789 $ 2,414,270 $ 1,985,717
Cost of Revenue:        
Total cost of revenue 337,500 299,183 981,259 824,179
Gross profit 472,921 422,606 1,433,011 1,161,538
Expenses:        
Sales and marketing 124,434 108,202 358,277 318,526
General and administrative 82,098 105,031 226,194 231,111
Research and development 40,427 37,517 115,703 102,472
Income from operations 225,962 171,856 732,837 509,429
Interest expense (7,134) (8,110) (22,331) (25,297)
Interest income 122 208 265 417
Income before provision for income taxes 218,950 163,954 710,771 484,549
Provision for income taxes 43,772 17,633 128,698 77,376
Net income 175,178 146,321 582,073 407,173
Less: Net (loss) income attributable to noncontrolling interest (57) 102 (1) 187
Net income attributable to IDEXX Laboratories, Inc. stockholders $ 175,235 $ 146,219 $ 582,074 $ 406,986
Earnings per Share:        
Basic (in USD per share) $ 2.06 $ 1.71 $ 6.82 $ 4.77
Diluted (in USD per share) $ 2.03 $ 1.69 $ 6.71 $ 4.70
Weighted Average Shares Outstanding:        
Basic (in shares) 85,123 85,314 85,325 85,293
Diluted (in shares) 86,511 86,690 86,712 86,635
Product revenue        
Revenue:        
Total revenue $ 471,787 $ 422,283 $ 1,406,850 $ 1,153,114
Cost of Revenue:        
Total cost of revenue 166,748 146,804 483,850 396,282
Service revenue        
Revenue:        
Total revenue 338,634 299,506 1,007,420 832,603
Cost of Revenue:        
Total cost of revenue $ 170,752 $ 152,379 $ 497,409 $ 427,897