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CONSOLIDATED 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
Net of tax, 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 [1] 0 0     0              
Deferred compensation 0       (861) 861            
Rabbi trust distribution [2] 0       709 (709)            
Net of tax, ending balance at Mar. 31, 2024 1,726,180 16,466 (15,230) 2,868,864 (1,169,317) 23,227   1,992     178  
Net of tax, 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                      
Net of tax, ending balance at Sep. 30, 2024 1,947,955 16,466 1,566 3,073,843 (1,168,719) 22,629   1,992     178  
Net of tax, 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 [1] 0 0     0              
Deferred compensation 0       (518) 518            
Rabbi trust distribution [2] 0       1,538 (1,538)            
Net of tax, 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 [1] 0 0     0              
Deferred compensation 0       (422) 422            
Net of tax, ending balance at Sep. 30, 2024 1,947,955 16,466 1,566 3,073,843 (1,168,719) 22,629   1,992     178  
Net of tax, beginning balance at Dec. 31, 2024 1,987,258 16,466 (47,591) 3,162,303 (1,169,074) 22,984   1,992     178  
Increase (decrease) in shareholders' equity                        
Net income 138,417     138,417                
Other comprehensive income (loss) 5,217   5,217                  
Dividends declared             (63,048)   (63,048) (521)   (521)
Net purchase of treasury stock [3] 28 28     0              
Deferred compensation 0       (869) 869            
Rabbi trust distribution [4] 0       407 (407)            
Net of tax, ending balance at Mar. 31, 2025 2,067,351 16,494 (42,374) 3,237,151 (1,169,536) 23,446   1,992     178  
Net of tax, beginning balance at Dec. 31, 2024 1,987,258 16,466 (47,591) 3,162,303 (1,169,074) 22,984   1,992     178  
Increase (decrease) in shareholders' equity                        
Net income 495,955                      
Other comprehensive income (loss) 16,344                      
Net of tax, ending balance at Sep. 30, 2025 2,308,878 16,494 (31,247) 3,467,551 (1,170,699) 24,609   1,992     178  
Net of tax, beginning balance at Mar. 31, 2025 2,067,351 16,494 (42,374) 3,237,151 (1,169,536) 23,446   1,992     178  
Increase (decrease) in shareholders' equity                        
Net income 174,685     174,685                
Other comprehensive income (loss) 6,078   6,078                  
Dividends declared             (63,048)   (63,048) (521)   (521)
Net purchase of treasury stock [3] 0 0     0              
Deferred compensation 0       (963) 963            
Rabbi trust distribution [4] 0       167 (167)            
Net of tax, ending balance at Jun. 30, 2025 2,184,545 16,494 (36,296) 3,348,267 (1,170,332) 24,242   1,992     178  
Increase (decrease) in shareholders' equity                        
Net income 182,853     182,853                
Other comprehensive income (loss) 5,049   5,049                  
Dividends declared             $ (63,048)   $ (63,048) $ (521)   $ (521)
Deferred compensation 0       (367) 367            
Net of tax, ending balance at Sep. 30, 2025 $ 2,308,878 $ 16,494 $ (31,247) $ 3,467,551 $ (1,170,699) $ 24,609   $ 1,992     $ 178  
[1] Net purchases of treasury stock in 2024 include 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 2024.
[3] Net purchases of treasury stock in 2025 include 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 three incentive compensation deferral plan participants in 2025.