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Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Statements of Income        
Net revenues $ 517,852 $ 445,052 $ 969,240 $ 815,933
Operating expenses (income)        
Direct advertising expenses (exclusive of depreciation and amortization) 166,723 140,448 324,495 271,663
General and administrative expenses (exclusive of depreciation and amortization) 90,658 75,834 173,742 148,483
Corporate expenses (exclusive of depreciation and amortization) 27,591 20,643 49,603 38,403
Depreciation and amortization 67,750 60,622 136,377 121,371
Gain on disposition of assets (1,374) (1,481) (1,937) (1,896)
Total operating expenses 351,348 296,066 682,280 578,024
Operating income 166,504 148,986 286,960 237,909
Other expense (income)        
Loss on extinguishment of debt 0 0 0 21,604
Interest income (279) (182) (494) (356)
Interest expense 29,493 26,359 56,279 54,513
Equity in earnings of investee (355) 0 (1,101) 0
Total other expense (income) 28,859 26,177 54,684 75,761
Income before income tax expense 137,645 122,809 232,276 162,148
Income tax expense 3,440 3,200 5,920 4,210
Net income 134,205 119,609 226,356 157,938
Cash dividends declared and paid on preferred stock 91 91 182 182
Net income applicable to common stock $ 134,114 $ 119,518 $ 226,174 $ 157,756
Earnings per share:        
Basic earnings per share (in dollars per share) $ 1.32 $ 1.18 $ 2.23 $ 1.56
Diluted earnings per share (in dollars per share) 1.32 1.18 2.23 1.56
Cash dividends declared per share of common stock (in dollars per share) $ 1.20 $ 0.75 $ 2.30 $ 1.50
Weighted average common shares used in computing earnings per share:        
Weighted average common shares outstanding basic (in shares) 101,486,547 101,125,855 101,413,458 101,047,295
Weighted average common shares outstanding diluted (in shares) 101,660,120 101,328,939 101,602,743 101,239,848
Statements of Comprehensive Income        
Net income $ 134,205 $ 119,609 $ 226,356 $ 157,938
Other comprehensive (loss) income        
Foreign currency translation adjustments (683) 300 (369) 504
Comprehensive income $ 133,522 $ 119,909 $ 225,987 $ 158,442