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STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Total
Additional paid-in-capital
Accumulated other comprehensive (loss) income
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, 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 335,133                      
Other comprehensive income (loss) (5,380)   (5,380)                  
Ending balance at Sep. 30, 2023 1,611,889 16,466 (12,794) 2,752,137 (1,168,761) 22,671   1,992     178  
Beginning balance at Mar. 31, 2023 1,486,967 16,466 338 2,614,083 (1,169,355) 23,265   1,992     178  
Increase (decrease) in shareholders' equity                        
Net income 117,852     117,852                
Other comprehensive income (loss) (4,488)   (4,488)                  
Dividends declared             (54,965)   (54,965) (454)   (454)
Net purchase of treasury stock [1] 0 0     0              
Deferred compensation 0       (621) 621            
Rabbi trust distribution [2] 0       1,596 (1,596)            
Ending balance at Jun. 30, 2023 1,544,912 16,466 (4,150) 2,676,516 (1,168,380) 22,290   1,992     178  
Increase (decrease) in shareholders' equity                        
Net income 131,040     131,040                
Other comprehensive income (loss) (8,644)   (8,644)                  
Dividends declared             (54,965)   (54,965) (454)   (454)
Net purchase of treasury stock [1] 0 0     0              
Deferred compensation 0       (381) 381            
Ending balance at Sep. 30, 2023 1,611,889 16,466 (12,794) 2,752,137 (1,168,761) 22,671   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)
Net purchase of treasury stock [3] 0 0     0              
Deferred compensation 0       (861) 861            
Rabbi trust distribution [4] 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  
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 448,285                      
Other comprehensive income (loss) 14,966   14,966                  
Ending balance at Sep. 30, 2024 1,947,955 16,466 1,566 3,073,843 (1,168,719) 22,629   1,992     178  
Beginning balance at Mar. 31, 2024 1,726,180 16,466 (15,230) 2,868,864 (1,169,317) 23,227   1,992     178  
Increase (decrease) in shareholders' equity                        
Net income 163,903     163,903                
Other comprehensive income (loss) (1,893)   (1,893)                  
Dividends declared             (58,891)   (58,891) (486)   (486)
Net purchase of treasury stock [3] 0 0     0              
Deferred compensation 0       (518) 518            
Rabbi trust distribution [4] 0       1,538 (1,538)            
Ending balance at Jun. 30, 2024 1,828,813 16,466 (17,123) 2,973,390 (1,168,297) 22,207   1,992     178  
Increase (decrease) in shareholders' equity                        
Net income 159,830     159,830                
Other comprehensive income (loss) 18,689   18,689                  
Dividends declared             $ (58,891)   $ (58,891) $ (486)   $ (486)
Net purchase of treasury stock [3] 0 0     0              
Deferred compensation 0       (422) 422            
Ending balance at Sep. 30, 2024 $ 1,947,955 $ 16,466 $ 1,566 $ 3,073,843 $ (1,168,719) $ 22,629   $ 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 five incentive compensation deferral plan participants in 2023.
[3] Net purchase of treasury stock in 2024 includes the repurchase of our Class A common stock in the open market that were subsequently distributed to satisfy stock-based compensation awards.
[4] Distributions of our Class A shares were made from the rabbi trust to five incentive compensation deferral plan participants in 2024.