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CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Paid-in Capital
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2022 0          
Beginning balance at Dec. 31, 2022 $ 0          
Ending balance (in shares) at Dec. 31, 2023 0          
Ending balance at Dec. 31, 2023 $ 0          
Beginning balance, common stock (in shares) at Dec. 31, 2022   71,618,000        
Beginning balance at Dec. 31, 2022 1,607,775 $ 7,162 $ 1,377,802 $ 423,863 $ (13,019) $ (188,033)
Shareholders' Equity            
Comprehensive income 132,188     104,033   28,155
Stock based compensation expense (in shares)   30,000        
Stock-based compensation expense 13,440   13,440      
Common stock issued for stock-based employee benefit plans (in shares)   970,000        
Common stock issued for stock-based employee benefit plans 5,100 $ 100 8,691   (3,691)  
Issuance of stock, pursuant to acquisition (in shares)   12,792,000        
Issuance of stock, pursuant to acquisition 410,738 $ 1,279 409,459      
Conversion of options, pursuant to acquisition 10,304   10,304      
Repurchase of common stock (in shares)   (549,000)        
Repurchase of common stock (10,868) $ (55) (10,813)      
Dividends on common stock (60,591)     (60,591)    
Ending balance, common stock (in shares) at Dec. 31, 2023   84,861,000        
Ending balance at Dec. 31, 2023 $ 2,108,086 $ 8,486 1,808,883 467,305 (16,710) (159,878)
Ending balance (in shares) at Dec. 31, 2024 0          
Ending balance at Dec. 31, 2024 $ 0          
Shareholders' Equity            
Comprehensive income 122,997     120,986   2,011
Stock-based compensation expense 13,744   13,744      
Common stock issued for stock-based employee benefit plans (in shares)   747,000        
Common stock issued for stock-based employee benefit plans 945 $ 142 2,308   (1,505)  
Repurchase of common stock (in shares)   (40,000)        
Repurchase of common stock (880)       (880)  
Dividends on common stock $ (61,649)     (61,649)    
Ending balance, common stock (in shares) at Dec. 31, 2024 85,567,712 85,568,000        
Ending balance at Dec. 31, 2024 $ 2,183,243 $ 8,628 1,824,935 526,642 (19,095) (157,867)
Convertible Preferred Stock            
Issuance of preferred stock, pursuant to acquisition (in shares) 11,000          
Issuance of preferred stock, pursuant to acquisition $ 343,125          
Ending balance (in shares) at Dec. 31, 2025 11,250          
Ending balance at Dec. 31, 2025 $ 343,125          
Shareholders' Equity            
Comprehensive income 225,550     144,878   80,672
Stock-based compensation expense 15,742   15,742      
Common stock issued for stock-based employee benefit plans (in shares)   575,000        
Common stock issued for stock-based employee benefit plans (1,353) $ 67 843   (2,263)  
Issuance of stock, pursuant to acquisition (in shares)   11,785,000        
Issuance of stock, pursuant to acquisition 357,207 $ 1,178 356,029      
Dividends on common stock (65,589)     (65,589)    
Dividends on preferred stock [1] $ (2,138)     (2,138)    
Ending balance, common stock (in shares) at Dec. 31, 2025 97,927,843 97,928,000        
Ending balance at Dec. 31, 2025 $ 2,712,662 $ 9,873 $ 2,197,549 $ 603,793 $ (21,358) $ (77,195)
[1]
1In the fourth quarter of 2025, non-voting convertible preferred shares were issued in connection with the VBI acquisition. Those shares earn dividends pro-rata with common shares, or $0.19 per 1/1,000th preferred share.