| Summary of Changes in Shareholders' Equity |
A summary of changes in stockholders’ equity is presented below (in thousands):
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Six Months Ended June 30, 2025 |
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(In thousands) |
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Number of
Shares |
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Common
Stock |
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Additional
Paid-In
Capital |
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Retained
Earnings |
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Total |
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| Balance at December 31, 2024 |
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71,922 |
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$ |
360 |
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$ |
143,036 |
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$ |
4,998,177 |
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$ |
5,141,573 |
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| Stock Split effective January 2, 2025 (See Note 8) |
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— |
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360 |
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(360) |
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— |
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— |
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| Net earnings |
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— |
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— |
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— |
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122,806 |
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122,806 |
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| Stock-based compensation expense |
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— |
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— |
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6,325 |
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— |
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6,325 |
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| Issuance of stock |
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514 |
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5 |
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(5) |
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— |
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— |
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| Dividends declared |
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— |
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— |
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— |
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(30,887) |
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(30,887) |
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| Share repurchases |
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(605) |
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(7) |
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(45,066) |
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— |
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(45,073) |
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| Balance at March 31, 2025 |
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71,831 |
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$ |
718 |
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$ |
103,930 |
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$ |
5,090,096 |
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$ |
5,194,744 |
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| Net earnings |
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— |
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— |
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— |
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146,879 |
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146,879 |
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| Stock-based compensation expense |
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— |
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— |
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3,597 |
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— |
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3,597 |
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| Dividends declared |
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— |
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— |
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— |
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(30,597) |
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(30,597) |
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| Share repurchases |
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(674) |
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(6) |
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(45,443) |
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— |
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(45,449) |
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| Balance at June 30, 2025 |
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71,157 |
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$ |
712 |
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$ |
62,084 |
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$ |
5,206,378 |
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$ |
5,269,174 |
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Six Months Ended June 30, 2024 |
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(In thousands) |
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Number of
Shares (1)
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|
Common
Stock |
|
Additional
Paid-In
Capital |
|
Retained
Earnings |
|
Total |
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| Balance at December 31, 2023 |
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72,850 |
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$ |
364 |
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$ |
290,955 |
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$ |
4,320,581 |
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$ |
4,611,900 |
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| Net earnings |
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— |
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— |
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— |
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186,016 |
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186,016 |
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| Stock-based compensation expense |
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— |
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— |
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6,114 |
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— |
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6,114 |
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| Issuance of stock |
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512 |
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3 |
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(3) |
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— |
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— |
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| Dividends declared |
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— |
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— |
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— |
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(27,239) |
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(27,239) |
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| Share repurchases |
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(724) |
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(4) |
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(56,214) |
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— |
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(56,218) |
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| Balance at March 31, 2024 |
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72,638 |
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$ |
363 |
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$ |
240,852 |
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$ |
4,479,358 |
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$ |
4,720,573 |
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| Net earnings |
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— |
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— |
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— |
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231,555 |
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231,555 |
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| Stock-based compensation expense |
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— |
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— |
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4,718 |
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— |
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4,718 |
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| Issuance of stock |
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16 |
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— |
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— |
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— |
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— |
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| Dividends declared |
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— |
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— |
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— |
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(27,245) |
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(27,245) |
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| Share repurchases |
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— |
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— |
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— |
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— |
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— |
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| Capped call transactions, net of tax |
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— |
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— |
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(47,067) |
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— |
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(47,067) |
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| Balance at June 30, 2024 |
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72,654 |
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|
363 |
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198,503 |
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4,683,668 |
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4,882,534 |
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(1) Share amounts have been retroactively adjusted to reflect the Stock Split that was effective on January 2, 2025. See Note 1.
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