XML 24 R5.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statements of Income      
Net revenues (note 2) $ 2,207,103 $ 2,110,987 $ 2,032,140
Operating expenses (income):      
Direct advertising expenses (exclusive of depreciation and amortization) 727,875 696,799 667,288
General and administrative expenses (exclusive of depreciation and amortization) 361,133 344,780 350,623
Corporate expenses (exclusive of depreciation and amortization) 129,145 106,025 102,500
Depreciation and amortization (note 11) 462,967 293,423 349,449
Gain on disposition of assets (6,057) (5,474) (15,721)
Total operating expenses 1,675,063 1,435,553 1,454,139
Operating income 532,040 675,434 578,001
Other expense (income):      
Loss on extinguishment of debt 270 115 0
Interest income (2,315) (2,115) (1,293)
Interest expense 171,709 174,512 127,510
Equity in earnings of investee (5,094) (3,696) (4,315)
Total other expense (income) 164,570 168,816 121,902
Income before income tax expense 367,470 506,618 456,099
Income tax expense (note 12) 4,531 9,782 17,452
Net income 362,939 496,836 438,647
Earnings attributable to non-controlling interest 1,072 1,073 0
Net income attributable to controlling interest 361,867 495,763 438,647
Preferred stock dividends 365 365 365
Net income applicable to common stock $ 361,502 $ 495,398 $ 438,282
Earnings per share:      
Basic earnings per share (in usd per share) $ 3.54 $ 4.86 $ 4.32
Diluted earnings per share (in usd per share) 3.52 4.85 4.31
Cash dividends declared per share of common stock (in usd per share) $ 5.65 $ 5.00 $ 5.00
Weighted average common shares used in computing earnings per share:      
Weighted average number of shares outstanding basic (in shares) 102,258,760 101,920,268 101,527,778
Weighted average common shares outstanding diluted (in shares) 102,561,151 102,106,647 101,634,543
Statements of Comprehensive Income      
Net income $ 362,939 $ 496,836 $ 438,647
Other comprehensive (loss) income, net of tax      
Foreign currency translation adjustments (2,526) 231 (1,514)
Comprehensive income 360,413 497,067 437,133
Earnings attributable to non-controlling interest 1,072 1,073 0
Comprehensive income attributable to controlling interest $ 359,341 $ 495,994 $ 437,133