Quarterly report [Sections 13 or 15(d)]

STOCKHOLDERS' EQUITY

v3.25.2
STOCKHOLDERS' EQUITY
 6 Months Ended
Jun. 30, 2025
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
A summary of changes in stockholders’ equity is presented below (in thousands):
  Six Months Ended June 30, 2025
  (In thousands)
  Number of
Shares		 Common
Stock		 Additional
Paid-In
Capital		 Retained
Earnings		 Total
Balance at December 31, 2024 71,922  $ 360  $ 143,036  $ 4,998,177  $ 5,141,573 
Stock Split effective January 2, 2025 (See Note 8) —  360  (360) —  — 
Net earnings —  —  —  122,806  122,806 
Stock-based compensation expense —  —  6,325  —  6,325 
Issuance of stock 514  5  (5) —  — 
Dividends declared —  —  —  (30,887) (30,887)
Share repurchases (605) (7) (45,066) —  (45,073)
Balance at March 31, 2025 71,831  $ 718  $ 103,930  $ 5,090,096  $ 5,194,744 
Net earnings —  —  —  146,879  146,879 
Stock-based compensation expense —  —  3,597  —  3,597 
Dividends declared —  —  —  (30,597) (30,597)
Share repurchases (674) (6) (45,443) —  (45,449)
Balance at June 30, 2025 71,157  $ 712  $ 62,084  $ 5,206,378  $ 5,269,174 
  Six Months Ended June 30, 2024
  (In thousands)
 
Number of
Shares (1)
Common
Stock		 Additional
Paid-In
Capital		 Retained
Earnings		 Total
Balance at December 31, 2023 72,850  $ 364  $ 290,955  $ 4,320,581  $ 4,611,900 
Net earnings —  —  —  186,016  186,016 
Stock-based compensation expense —  —  6,114  —  6,114 
Issuance of stock 512  3  (3) —  — 
Dividends declared —  —  —  (27,239) (27,239)
Share repurchases (724) (4) (56,214) —  (56,218)
Balance at March 31, 2024 72,638  $ 363  $ 240,852  $ 4,479,358  $ 4,720,573 
Net earnings —  —  —  231,555  231,555 
Stock-based compensation expense —  —  4,718  —  4,718 
Issuance of stock 16  —  —  —  — 
Dividends declared —  —  —  (27,245) (27,245)
Share repurchases —  —  —  —  — 
Capped call transactions, net of tax —  —  (47,067) —  (47,067)
Balance at June 30, 2024 72,654  363  198,503  4,683,668  4,882,534 
(1) Share amounts have been retroactively adjusted to reflect the Stock Split that was effective on January 2, 2025. See Note 1.
During the three months ended June 30, 2025 and 2024, our Board of Directors approved, and we paid, a quarterly cash dividend on common stock of $0.43 and $0.375 per share, respectively. Quarterly dividends declared and paid during the six months ended June 30, 2025 and 2024, totaled $0.86 and $0.75 per share, respectively. During the three and six months ended June 30, 2025 and 2024, we reflected the applicable excise tax on share repurchases in Additional paid-in capital as part of the cost basis of the stock repurchased and recorded a corresponding liability in Accrued liabilities on the accompanying unaudited consolidated balance sheets.