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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
Retained earnings
Retained earnings
Class A common stock
Retained earnings
Class B common stock
Treasury stock
Deferred compensation
Net of tax, beginning 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 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)
Net of tax, 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 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] 2,156 [2]
Rabbi trust distribution 0 [2]                   2,247 (2,247)
Net of tax, 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
Increase (Decrease) in Shareholders' Equity                        
Net income 559,335             559,335        
Other comprehensive loss (4,430)           (4,430)          
Dividends declared   $ (256,696) $ (2,119)           $ (256,696) $ (2,119)    
Net purchase of treasury stock [1] 26         26            
Deferred compensation 0                   (2,514) 2,514
Rabbi trust distribution [2] 0                   574 (574)
Net of tax, end of year at Dec. 31, 2025 $ 2,283,374     $ 1,992 $ 178 $ 16,492 $ (52,021) $ 3,462,823     $ (1,171,014) $ 24,924
[1] Net purchases of treasury stock in 2023, 2024 and 2025 include the purchase 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 five incentive compensation deferral plan participants in both 2023 and 2024 and three incentive compensation plan deferral participants in 2025. See Note 11, "Incentive and Deferred Compensation Plans".