Equity (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Changes in Total Common Stockholders' Equity

The Company’s changes in total equity for the six months ended June 30, 2024 and 2023 were as follows:


	Six Months Ended June 30, 2024
	Common Stock			Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Noncontrolling Interests		Total Equity

	Shares	Amount
	(In thousands)
Balance at January 1, 2024	57,724	$	577	$	876,583	$	549,573	$	—	$	3,579	$	1,430,312
Net income	—	—		—		69,917		—		(227)		69,690
Issuance of common stock	55	1		1,506		—		—		—		1,507
Repurchase of common stock	(25)	—		(1,142)		—		—		—		(1,142)
Dividends paid on common stock ($0.2800 per share)	—	—		—		(16,164)		—		—		(16,164)
Adjustment for unrecoverable pension benefit plan costs	—	—		—		—		(13,663)		—		(13,663)
Amounts reclassified to earnings (a)	—	—		—		—		297		—		297
Investment in business with noncontrolling interest	—	—		(53)		—		—		53		—
Balance at March 31, 2024	57,754	578		876,894		603,326		(13,366)		3,405		1,470,837
Net income	—	—		—		40,551		—		(174)		40,377
Issuance of common stock	1,073	10		52,923		—		—		—		52,933
Repurchase of common stock	(2)	—		(93)		—		—		—		(93)
Dividends paid on common stock ($0.2800 per share)	—	—		—		(16,172)		—		—		(16,172)
Amounts reclassified to earnings (a)	—	—		—		—		298		—		298
Investment in business with noncontrolling interest	—	—		(348)		—		—		348		—
Distribution to noncontrolling interest	—	—		—		—		—		(489)		(489)
Balance at June 30, 2024	58,825	$	588	$	929,376	$	627,705	$	(13,068)	$	3,090	$	1,547,691

(a) This accumulated other comprehensive loss component is included in the computation of net periodic costs for the Company’s supplemental executive retirement plan (SERP), specifically the following components: amortization of unrecognized (gain) loss and amortization of prior service credit.


	Six Months Ended June 30, 2023
	Common Stock			Additional Paid-in Capital		Retained Earnings		Noncontrolling Interests		Total Equity

	Shares	Amount
	(In thousands)
Balance at January 1, 2023	55,598	$	556	$	760,336	$	556,698	$	4,804	$	1,322,394
Net loss	—	—		—		(22,211)		(123)		(22,334)
Issuance of common stock	420	4		17,380		—		—		17,384
Repurchase of common stock	(27)	—		—		—		—		—
Dividends paid on common stock ($0.2600 per share)	—	—		—		(14,456)		—		(14,456)
Investment in business with noncontrolling interest	—	—		(111)		—		111		—
Balance at March 31, 2023	55,991	560		777,605		520,031		4,792		1,302,988
Net income (loss)	—	—		—		9,556		(109)		9,447
Issuance of common stock	1,713	17		96,482		—		—		96,499
Repurchase of common stock	(2)	—		(108)		—		—		(108)
Dividends paid on common stock ($0.2600 per share)	—	—		—		(14,571)		—		(14,571)
Investment in business with noncontrolling interest	—	—		(56)		—		56		—
Distribution to noncontrolling interest	—	—		—		—		(288)		(288)
Balance at June 30, 2023	57,702	$	577	$	873,923	$	515,016	$	4,451	$	1,393,967