Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

Basic earnings per share of common stock are computed by dividing net income by the weighted-average basic common shares outstanding during the period. Diluted earnings per share assumes the issuance of common shares applicable to stock options in the denominator.

	Three Months Ended June 30,
	2013			2012
	Class A		Class B	Class A	Class B
	(In thousands except per share amounts)
Numerator for Basic and Diluted Earnings Per Share:
Net income	$	26,991		23,246
Dividends - Class A shares	—			—
Dividends - Class B shares	—			—
Undistributed income	$	26,991		23,246
Allocation of net income:
Dividends	$	—	—	—	—
Allocation of undistributed income	26,227		764	22,589	658
Net income	$	26,227	764	22,589	658
Denominator:
Basic earnings per share - weighted-average shares	3,435		200	3,435	200
Effect of dilutive stock options	7		—	—	—
Diluted earnings per share - adjusted weighted-average shares for assumed conversions	3,442		200	3,435	200
Basic Earnings Per Share	$	7.64	3.82	6.58	3.29
Diluted Earnings Per Share	$	7.62	3.82	6.58	3.29

	Six Months Ended June 30,
	2013			2012
	Class A		Class B	Class A	Class B
	(In thousands except per share amounts)
Numerator for Basic and Diluted Earnings Per Share:
Net income	$	43,623		42,987
Dividends - Class A shares	—			—
Dividends - Class B shares	—			—
Undistributed income	$	43,623		42,987
Allocation of net income:
Dividends	$	—	—	—	—
Allocation of undistributed income	42,389		1,234	41,771	1,216
Net income	$	42,389	1,234	41,771	1,216
Denominator:
Basic earnings per share - weighted-average shares	3,435		200	3,435	200
Effect of dilutive stock options	6		—	—	—
Diluted earnings per share - adjusted weighted-average shares for assumed conversions	3,441		200	3,435	200
Basic Earnings Per Share	$	12.34	6.17	12.16	6.08
Diluted Earnings Per Share	$	12.32	6.17	12.16	6.08