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Stock-Based Compensation and Equity (Tables)
 9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Schedule of Restricted and Conditional Award Activity
Nonvested restricted share awards (“RSAs”), restricted share units (“RSUs”), and performance share units (“PSUs”) at September 30, 2023 and changes during the nine months ended September 30, 2023 were as follows:
RSA and RSU AwardsPSU Awards
SharesWeighted-Average
Grant Date
Fair Value		SharesWeighted-Average
Grant Date
Fair Value
Nonvested at January 1, 2023
376,298 $74.78 531,781 $89.14 
Granted (a)
256,993 82.78 150,989 144.54 
Vested (b)
(171,330)76.62 (218,147)104.65 
Forfeited(101)74.81 — — 
Adjustment (c)
— — 71,443 107.02 
Nonvested at September 30, 2023 (d)
461,860 $78.53 536,066 $103.15 
__________
(a)The grant date fair value of RSAs and RSUs reflect our stock price on the date of grant on a one-for-one basis. The grant date fair value of PSUs was determined utilizing a Monte Carlo simulation model to generate an estimate of our future stock price over the three-year performance period. To estimate the fair value of PSUs granted during the nine months ended September 30, 2023, we used a risk-free interest rate of 3.8%, an expected volatility rate of 38.2%, and assumed a dividend yield of zero.
(b)The grant date fair value of shares vested during the nine months ended September 30, 2023 was $36.0 million. Employees have the option to take immediate delivery of the shares upon vesting or defer receipt to a future date pursuant to previously made deferral elections. At September 30, 2023 and December 31, 2022, we had an obligation to issue 1,196,955 and 1,181,947 shares, respectively, of our common stock underlying such deferred awards, which is recorded within Total stockholders’ equity as a Deferred compensation obligation of $62.0 million and $57.0 million, respectively.
(c)Vesting and payment of the PSUs is conditioned upon certain company and/or market performance goals being met during the relevant three-year performance period. The ultimate number of PSUs to be vested will depend on the extent to which the performance goals are met and can range from zero to three times the original awards. As a result, we recorded adjustments at September 30, 2023 to reflect the number of shares expected to be issued when the PSUs vest.
(d)At September 30, 2023, total unrecognized compensation expense related to these awards was approximately $50.2 million, with an aggregate weighted-average remaining term of 2.0 years.
Schedule of Earnings Per Share Reconciliation
The following table summarizes basic and diluted earnings (dollars in thousands):
 Three Months Ended September 30,Nine Months Ended September 30,
 2023202220232022
Net income — basic and diluted$125,040 $104,928 $564,040 $389,601 
Weighted-average shares outstanding — basic215,097,114 203,093,553 214,052,907 196,382,433 
Effect of dilutive securities155,855 1,004,563 374,518 882,076 
Weighted-average shares outstanding — diluted215,252,969 204,098,116 214,427,425 197,264,509 
Schedule of Issuance of Shares The following table sets forth certain information regarding the issuance of shares of our common stock under our prior ATM Program during the periods presented (net proceeds in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Shares of common stock issued— — — 2,740,295 
Weighted-average price per share$— $— $— $80.79 
Net proceeds$— $— $— $218,081 
Schedule of Stockholders Equity
In addition, we refer to our forward equity offering presented below as the August 2021 Equity Forwards (the “Equity Forwards”), which are discussed in the 2022 Annual Report. Our ATM Forwards are also presented below (gross offering proceeds at closing in thousands):
Agreement Date
Shares Offered (a)
Average Gross Offering PriceAverage Gross Offering Proceeds at Closing
Outstanding Shares as of September 30, 2023
August 2021 Equity Forwards (b)
8/9/20215,175,000$78.00 $403,650 —
ATM Forwards (c)
5/2/20227,826,84083.57 654,086 4,744,973
4,744,973
__________
(a)Includes 675,000 shares of common stock purchased by certain underwriters in connection with the August 2021 Equity Forwards, upon the exercise of 30-day options to purchase additional shares.
(b)All remaining outstanding shares were settled during the three months ended December 31, 2022.
(c)All remaining outstanding shares were settled in October 2023 (Note 17).

The following table sets forth certain information regarding the settlement of our forward equity during the periods presented (dollars in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Shares of common stock delivered— 1,337,500 3,081,867 1,337,500 
Net proceeds$— $97,456 $249,806 $97,456 
Schedule of Reclassification Out of Accumulated Other Comprehensive Loss
The following tables present a reconciliation of changes in Accumulated other comprehensive loss by component for the periods presented (in thousands):
Three Months Ended September 30, 2023
Gains and (Losses) on Derivative InstrumentsForeign Currency Translation AdjustmentsGains and (Losses) on InvestmentsTotal
Beginning balance$23,879 $(303,810)$— $(279,931)
Other comprehensive income before reclassifications10,262 (8,844)— 1,418 
Amounts reclassified from accumulated other comprehensive loss to:
Non-operating income(2,787)— — (2,787)
Interest expense(659)— — (659)
Total(3,446)— — (3,446)
Net current period other comprehensive loss6,816 (8,844)— (2,028)
Net current period other comprehensive loss attributable to noncontrolling interests— 139 — 139 
Ending balance$30,695 $(312,515)$— $(281,820)
Three Months Ended September 30, 2022
Gains and (Losses) on Derivative InstrumentsForeign Currency Translation AdjustmentsGains and (Losses) on InvestmentsTotal
Beginning balance$43,693 $(309,850)$— $(266,157)
Other comprehensive loss before reclassifications28,531 (56,053)— (27,522)
Amounts reclassified from accumulated other comprehensive loss to:
Non-operating income(4,987)— — (4,987)
Interest expense66 — — 66 
Total(4,921)— — (4,921)
Net current period other comprehensive loss23,610 (56,053)— (32,443)
Net current period other comprehensive loss attributable to noncontrolling interests— 543 — 543 
Ending balance$67,303 $(365,360)$— $(298,057)
Nine Months Ended September 30, 2023
Gains and (Losses) on Derivative InstrumentsForeign Currency Translation AdjustmentsGains and (Losses) on InvestmentsTotal
Beginning balance$36,079 $(319,859)$— $(283,780)
Other comprehensive income before reclassifications6,404 7,092 — 13,496 
Amounts reclassified from accumulated other comprehensive loss to:
Non-operating income(10,656)— — (10,656)
Interest expense(1,132)— — (1,132)
Total(11,788)— — (11,788)
Net current period other comprehensive income(5,384)7,092 — 1,708 
Net current period other comprehensive loss attributable to noncontrolling interests— 252 — 252 
Ending balance$30,695 $(312,515)$— $(281,820)
Nine Months Ended September 30, 2022
Gains and (Losses) on Derivative InstrumentsForeign Currency Translation AdjustmentsGains and (Losses) on InvestmentsTotal
Beginning balance$16,347 $(256,705)$18,688 $(221,670)
Other comprehensive loss before reclassifications61,054 (109,198)— (48,144)
Amounts reclassified from accumulated other comprehensive loss to:
Non-operating income(10,450)— — (10,450)
Interest expense352 — — 352 
Other gains and (losses) (Note 9)
— — (18,688)(18,688)
Total(10,098)— (18,688)(28,786)
Net current period other comprehensive loss50,956 (109,198)(18,688)(76,930)
Net current period other comprehensive loss attributable to noncontrolling interests— 543 — 543 
Ending balance$67,303 $(365,360)$— $(298,057)