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Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Statements of Income        
Net revenues $ 565,251 $ 541,137 $ 1,063,401 $ 1,012,469
Operating expenses (income)        
Direct advertising expenses (exclusive of depreciation and amortization) 183,265 171,783 358,910 340,215
General and administrative expenses (exclusive of depreciation and amortization) 88,341 90,525 177,502 175,660
Corporate expenses (exclusive of depreciation and amortization) 33,051 28,556 68,755 57,083
Depreciation and amortization 77,191 75,158 152,419 148,283
Gain on disposition of assets (824) (1,676) (3,012) (4,364)
Total operating expenses 381,024 364,346 754,574 716,877
Operating income 184,227 176,791 308,827 295,592
Other (income) expense        
Interest income (572) (477) (1,039) (938)
Interest expense 44,337 43,649 88,824 85,093
Equity in (earnings) loss of investee (4) (449) 555 (627)
Total other (income) expense 43,761 42,723 88,340 83,528
Income before income tax expense 140,466 134,068 220,487 212,064
Income tax expense 2,872 3,180 4,394 4,978
Net income 137,594 130,888 216,093 207,086
Net income attributable to non-controlling interest 228 268 503 425
Net income attributable to controlling interest 137,366 130,620 215,590 206,661
Cash dividends declared and paid on preferred stock 91 91 182 182
Net income applicable to common stock $ 137,275 $ 130,529 $ 215,408 $ 206,479
Earnings per share:        
Basic earnings per share (in dollars per share) $ 1.34 $ 1.28 $ 2.11 $ 2.03
Diluted earnings per share (in dollars per share) 1.34 1.28 2.10 2.02
Cash dividends declared per share of common stock (in dollars per share) $ 1.30 $ 1.25 $ 2.60 $ 2.50
Weighted average common shares used in computing earnings per share:        
Weighted average common shares outstanding basic (in shares) 102,248,621 101,917,200 102,181,890 101,855,104
Weighted average common shares outstanding diluted (in shares) 102,594,217 102,104,429 102,522,569 102,047,875
Statements of Comprehensive Income        
Net income $ 137,594 $ 130,888 $ 216,093 $ 207,086
Other comprehensive loss        
Foreign currency translation adjustments (431) 403 (823) 401
Comprehensive income 137,163 131,291 215,270 207,487
Net income attributable to non-controlling interest 228 268 503 425
Comprehensive income attributable to controlling interest $ 136,935 $ 131,023 $ 214,767 $ 207,062