EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

We compute basic and diluted earnings per share based on the weighted-average number of shares of Common Stock and Class B common stock outstanding as follows:

For the years ended December 31,	2020				2019				2018
	Common Stock		Class B Common Stock		Common Stock		Class B Common Stock		Common Stock		Class B Common Stock
Basic earnings per share:
Numerator:
Allocation of distributed earnings (cash dividends paid)	$	467,013	$	173,719	$	445,685	$	164,627	$	410,732	$	151,789
Allocation of undistributed earnings	464,802		173,174		393,731		145,649		449,372		165,669
Total earnings—basic	$	931,815	$	346,893	$	839,416	$	310,276	$	860,104	$	317,458
Denominator (shares in thousands):
Total weighted-average shares—basic	147,832		60,614		148,841		60,614		149,379		60,614
Earnings Per Share—basic	$	6.30	$	5.72	$	5.64	$	5.12	$	5.76	$	5.24
Diluted earnings per share:
Numerator:
Allocation of total earnings used in basic computation	$	931,815	$	346,893	$	839,416	$	310,276	$	860,104	$	317,458
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	346,893		—		310,276		—		317,458		—
Reallocation of undistributed earnings	—		(822)		—		(886)		—		(803)
Total earnings—diluted	$	1,278,708	$	346,071	$	1,149,692	$	309,390	$	1,177,562	$	316,655
Denominator (shares in thousands):
Number of shares used in basic computation	147,832		60,614		148,841		60,614		149,379		60,614
Weighted-average effect of dilutive securities:
Conversion of Class B common stock to Common shares outstanding	60,614		—		60,614		—		60,614		—
Employee stock options	600		—		785		—		651		—
Performance and restricted stock units	368		—		462		—		345		—
Total weighted-average shares—diluted	209,414		60,614		210,702		60,614		210,989		60,614
Earnings Per Share—diluted	$	6.11	$	5.71	$	5.46	$	5.10	$	5.58	$	5.22