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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenue:        
Total revenue $ 841,661 $ 810,421 $ 2,538,756 $ 2,414,270
Cost of Revenue:        
Cost of revenue 335,035 337,500 1,019,345 981,259
Gross profit 506,626 472,921 1,519,411 1,433,011
Expenses:        
Sales and marketing 130,021 124,434 392,570 358,277
General and administrative 83,764 82,098 243,201 226,194
Research and development 48,013 40,427 211,402 115,703
Income from operations 244,828 225,962 672,238 732,837
Interest expense (10,998) (7,134) (26,311) (22,331)
Interest income 353 122 830 265
Income before provision for income taxes 234,183 218,950 646,757 710,771
Provision for income taxes 53,245 43,772 139,875 128,698
Net income 180,938 175,178 506,882 582,073
Less: Net loss attributable to noncontrolling interest 0 (57) 0 (1)
Net income attributable to IDEXX Laboratories, Inc. stockholders $ 180,938 $ 175,235 $ 506,882 $ 582,074
Earnings per Share:        
Basic (in USD per share) $ 2.17 $ 2.06 $ 6.04 $ 6.82
Diluted (in USD per share) $ 2.15 $ 2.03 $ 5.97 $ 6.71
Weighted Average Shares Outstanding:        
Basic (in shares) 83,247 85,123 83,855 85,325
Diluted (in shares) 84,113 86,511 84,858 86,712
Product revenue        
Revenue:        
Total revenue $ 481,004 $ 471,787 $ 1,451,899 $ 1,406,850
Cost of Revenue:        
Cost of revenue 158,554 166,748 487,948 483,850
Service revenue        
Revenue:        
Total revenue 360,657 338,634 1,086,857 1,007,420
Cost of Revenue:        
Cost of revenue $ 176,481 $ 170,752 $ 531,397 $ 497,409