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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Income Statement [Abstract]      
Revenues(1) [1] $ 3,828,549 $ 3,300,223 $ 2,941,347
Payroll taxes, benefits and workers’ compensation costs 3,146,640 2,727,492 2,449,737
Gross profit 681,909 572,731 491,610
Salaries, wages and payroll taxes 301,027 259,531 229,589
Stock-based compensation 20,425 24,345 16,643
Commissions 28,957 22,773 19,288
Advertising 18,554 16,686 16,447
General and administrative expenses 111,068 101,273 86,693
Depreciation and amortization 22,842 18,182 16,644
Total operating expenses 502,873 442,790 385,304
Operating income 179,036 129,941 106,306
Other income (expense):      
Interest Income 7,992 3,413 1,267
Interest Expense (4,668) (3,213) (2,396)
Income before income tax expense 182,360 130,141 105,177
Income tax expense 46,947 45,739 39,186
Net income 135,413 84,402 65,991
Less distributed and undistributed earnings allocated to participating securities 1,875 1,517 1,496
Net income allocated to common shares $ 133,538 $ 82,885 $ 64,495
Basic net income per share of common stock (in dollars per share) $ 3.24 $ 2.02 $ 1.55
Diluted net income per share of common stock (in dollars per share) $ 3.22 $ 2.01 $ 1.54
[1] (1) Revenues are comprised of gross billings less worksite employee (“WSEE”) payroll costs as follows: Year ended December 31,(in thousands)201820172016 Gross billings$23,830,731$20,173,812$17,932,857Less: WSEE payroll cost20,002,18216,873,58914,991,510Revenues$3,828,549$3,300,223$2,941,347