Earnings per Share

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Earnings per Share

20. Earnings per Share

The following table sets forth a reconciliation of the information used in computing basic and diluted earnings per share:

	Years Ended December 31,
	2025		2024		2023
Earnings from continuing operations	$	1,097,429	$	1,399,968	$	943,864
(Loss) earnings from discontinued operations, net	(3,473)		1,297,158		112,964
Net earnings	$	1,093,956	$	2,697,126	$	1,056,828
Basic earnings per common share:
Earnings from continuing operations	$	8.01	$	10.16	$	6.75
(Loss) earnings from discontinued operations, net	$	(0.03)	$	9.42	$	0.81
Net earnings	$	7.99	$	19.58	$	7.56
Weighted average basic shares outstanding	136,935,000		137,735,000		139,848,000
Diluted earnings per common share:
Earnings from continuing operations	$	7.97	$	10.09	$	6.71
(Loss) earnings from discontinued operations, net	$	(0.03)	$	9.35	$	0.80
Net earnings	$	7.94	$	19.45	$	7.52
Weighted average shares outstanding	137,777,000		138,696,000		140,599,000

The following table is a reconciliation of the share amounts used in computing earnings per share:

	Years Ended December 31,
	2025	2024	2023
Weighted average shares outstanding - Basic	136,935,000	137,735,000	139,848,000
Dilutive effect of assumed exercise of SARs and vesting of PSAs and RSUs	842,000	961,000	751,000
Weighted average shares outstanding - Diluted	137,777,000	138,696,000	140,599,000

Diluted earnings per share amounts are computed using the weighted average number of common shares outstanding and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of SARs and vesting of PSAs and RSUs, as determined using the treasury stock method. For the years ended December 31, 2025, 2024 and 2023, the weighted average number of anti-dilutive potential common shares excluded from the calculation above totaled 41,000, 48,000 and 48,000, respectively.