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STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Total
Additional paid-in-capital
Accumulated other comprehensive loss
Retained earnings
Treasury stock
Deferred compensation
Class A common stock
Class A common stock
Common stock
Class A common stock
Retained earnings
Class B common stock
Class B common stock
Common stock
Class B common stock
Retained earnings
Beginning balance at Dec. 31, 2022 $ 1,448,408 $ 16,481 $ (7,414) $ 2,583,261 $ (1,168,949) $ 22,859   $ 1,992     $ 178  
Increase (decrease) in shareholders' equity                        
Net income 86,241     86,241                
Other comprehensive income (loss) 7,752   7,752                  
Dividends declared             $ (54,965)   $ (54,965) $ (454)   $ (454)
Net purchase of treasury stock [1] (15) (15)     0              
Deferred compensation 0       (822) 822            
Rabbi trust distribution [2] 0       416 (416)            
Ending balance at Mar. 31, 2023 1,486,967 16,466 338 2,614,083 (1,169,355) 23,265   1,992     178  
Beginning balance at Dec. 31, 2023 1,662,835 16,466 (13,400) 2,803,689 (1,169,165) 23,075   1,992     178  
Increase (decrease) in shareholders' equity                        
Net income 124,552     124,552                
Other comprehensive income (loss) (1,830)   (1,830)                  
Dividends declared             $ (58,891)   $ (58,891) $ (486)   $ (486)
Deferred compensation 0       (861) 861            
Rabbi trust distribution [2] 0       709 (709)            
Ending balance at Mar. 31, 2024 $ 1,726,180 $ 16,466 $ (15,230) $ 2,868,864 $ (1,169,317) $ 23,227   $ 1,992     $ 178  
[1] Net purchase of treasury stock in 2023 includes the repurchase of our Class A common stock in the open market that were subsequently distributed to satisfy stock-based compensation awards.
[2] Distributions of our Class A shares were made from the rabbi trust to three incentive compensation deferral plan participants in 2024 and two in 2023.