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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Treasury Stock
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2022   113,247,189        
Beginning balance at Dec. 31, 2022 $ 6,159,876 $ 2,724,740 $ (5,005) $ 3,360,347 $ (31,435) $ 111,229
Beginning balance (in shares) at Dec. 31, 2022     (73,613)      
Increase (Decrease) in Shareholders' Equity            
Net income 518,781     501,557   17,224
Other comprehensive (loss) income (1,709)       (1,709)  
Dividends on common stock (395,585)     (395,585)    
Issuance of common stock (in shares)   290,500        
Issuance of common stock 27,936 $ 27,936        
Purchase of treasury stock (in shares) [1]     (72,180)      
Purchase of treasury stock [1] (5,466)   $ (5,466)      
Reissuance of treasury stock for stock-based compensation and other (in shares)     32,521      
Reissuance of treasury stock for stock-based compensation and other 2,287   $ 2,287      
Capital activities by noncontrolling interests (21,255)         (21,255)
Other (3)   (1) (2)    
Ending balance (in shares) at Dec. 31, 2023   113,537,689        
Ending balance at Dec. 31, 2023 6,284,862 $ 2,752,676 $ (8,185) 3,466,317 (33,144) 107,198
Ending balance (in shares) at Dec. 31, 2023     (113,272)      
Increase (Decrease) in Shareholders' Equity            
Net income 626,030     608,806   17,224
Other comprehensive (loss) income 2,202       2,202  
Dividends on common stock (408,162)     (408,162)    
Issuance of common stock (in shares) [2]   5,606,093        
Issuance of common stock [2] 368,941 $ 368,941        
Purchase of treasury stock (in shares) [1]     (71,008)      
Purchase of treasury stock [1] (4,907)   $ (4,907)      
Reissuance of treasury stock for stock-based compensation and other (in shares)     137,312      
Reissuance of treasury stock for stock-based compensation and other 9,768   $ 9,768      
Capital activities by noncontrolling interests (21,255)         (21,255)
Other $ (1)   1 (2)    
Ending balance (in shares) at Dec. 31, 2024 119,143,782 119,143,782        
Ending balance at Dec. 31, 2024 $ 6,857,478 $ 3,121,617 $ (3,323) 3,666,959 (30,942) 103,167
Ending balance (in shares) at Dec. 31, 2024 (46,968)   (46,968)      
Increase (Decrease) in Shareholders' Equity            
Net income $ 631,643     616,531   15,112
Other comprehensive (loss) income (1,466)       (1,466)  
Dividends on common stock (432,671)     (432,671)    
Issuance of common stock (in shares) [2]   1,807,057        
Issuance of common stock [2] 109,755 $ 109,755        
Capital activities by noncontrolling interests (18,041)         (18,041)
Deconsolidation of noncontrolling interests [3] (59,621)         (59,621)
Other $ (2)     (2)    
Ending balance (in shares) at Dec. 31, 2025 120,950,839 120,950,839        
Ending balance at Dec. 31, 2025 $ 7,087,075 $ 3,231,372 $ (3,323) $ 3,850,817 $ (32,408) $ 40,617
Ending balance (in shares) at Dec. 31, 2025 (46,968)   (46,968)      
[1] Primarily represents shares of common stock withheld from certain stock awards for tax purposes.
[2] See Note 16 for information related to our equity forward sale agreements.
[3] See Note 12 for information related to the Palo Verde sale leaseback purchases.