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CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Class A common stock
Class B common stock
Common stock
Class A common stock
Common stock
Class B common stock
Additional paid-in-capital
Accumulated other comprehensive (loss) income
Retained earnings
Retained earnings
Class A common stock
Retained earnings
Class B common stock
Treasury stock
Deferred compensation
Balance, beginning of year at Dec. 31, 2021 $ 1,342,478     $ 1,992 $ 178 $ 16,496 $ (25,288) $ 2,495,190     $ (1,167,828) $ 21,738
Increase (Decrease) in Shareholders' Equity                        
Net income 298,569             298,569        
Other comprehensive income (loss) 17,874           17,874          
Dividends declared   $ (208,775) $ (1,723)           $ (208,775) $ (1,723)    
Net purchase of treasury stock [1] (15)         (15)         0  
Deferred compensation 0                   (2,975) 2,975
Rabbi trust distribution [2] 0                   1,854 (1,854)
Balance, end of year at Dec. 31, 2022 1,448,408     1,992 178 16,481 (7,414) 2,583,261     (1,168,949) 22,859
Increase (Decrease) in Shareholders' Equity                        
Net income 446,061             446,061        
Other comprehensive income (loss) (5,986)           (5,986)          
Dividends declared   (223,786) (1,847)           (223,786) (1,847)    
Net purchase of treasury stock [1] (15)         (15)         0  
Deferred compensation 0                   (2,228) 2,228
Rabbi trust distribution [2] 0                   2,012 (2,012)
Balance, end of year at Dec. 31, 2023 1,662,835     1,992 178 16,466 (13,400) 2,803,689     (1,169,165) 23,075
Increase (Decrease) in Shareholders' Equity                        
Net income 600,314             600,314        
Other comprehensive income (loss) (34,191)           (34,191)          
Dividends declared   $ (239,721) $ (1,979)           $ (239,721) $ (1,979)    
Net purchase of treasury stock [1] 0         0         0  
Deferred compensation 0                   (2,156) 2,156
Rabbi trust distribution [2] 0                   2,247 (2,247)
Balance, end of year at Dec. 31, 2024 $ 1,987,258     $ 1,992 $ 178 $ 16,466 $ (47,591) $ 3,162,303     $ (1,169,074) $ 22,984
[1] Net purchases of treasury stock in 2022, 2023 and 2024 include the repurchase of our Class A common stock in the open market that were subsequently distributed to satisfy stock-based compensation awards. See Note 11, "Incentive and Deferred Compensation Plans".
[2] Distributions of our Class A shares were made from the rabbi trust to four incentive compensation deferral plan participants in 2022 and five incentive compensation plan deferral plan participants in both 2023 and 2024. See Note 11, "Incentive and Deferred Compensation Plans".