STOCKHOLDERS' EQUITY |
STOCKHOLDERS’ EQUITY
A summary of changes in stockholders’ equity is presented below (in thousands):
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Six Months Ended June 30, 2023 |
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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, 2022 |
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36,571 |
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$ |
366 |
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$ |
327,878 |
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$ |
3,621,367 |
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$ |
3,949,611 |
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Net earnings |
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— |
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— |
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— |
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131,301 |
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131,301 |
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Stock-based compensation expense |
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— |
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— |
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6,225 |
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— |
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6,225 |
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Issuance of stock |
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287 |
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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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(9,927) |
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(9,927) |
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Share repurchases |
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(93) |
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(1) |
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(9,999) |
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— |
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(10,000) |
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Balance at March 31, 2023 |
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36,765 |
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$ |
368 |
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$ |
324,101 |
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$ |
3,742,741 |
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$ |
4,067,210 |
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Net earnings |
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— |
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— |
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— |
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186,836 |
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186,836 |
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Stock-based compensation expense |
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— |
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— |
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4,176 |
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— |
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4,176 |
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Dividends declared |
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— |
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— |
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— |
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(9,927) |
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(9,927) |
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Balance at June 30, 2023 |
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36,765 |
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$ |
368 |
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$ |
328,277 |
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$ |
3,919,650 |
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$ |
4,248,295 |
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Six Months Ended June 30, 2022 |
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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 |
Balance at December 31, 2021 |
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37,341 |
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$ |
373 |
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$ |
414,841 |
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$ |
2,629,175 |
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$ |
3,044,389 |
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Net earnings |
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— |
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— |
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— |
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217,254 |
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217,254 |
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Stock-based compensation expense |
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— |
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— |
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5,975 |
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— |
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5,975 |
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Issuance of stock |
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392 |
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4 |
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(4) |
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— |
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— |
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Share repurchases |
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(1,038) |
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(10) |
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(99,293) |
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— |
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(99,303) |
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Balance at March 31, 2022 |
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36,695 |
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$ |
367 |
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$ |
321,519 |
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$ |
2,846,429 |
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$ |
3,168,315 |
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Net earnings |
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— |
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— |
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— |
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250,084 |
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250,084 |
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Stock-based compensation expense |
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— |
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— |
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4,070 |
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— |
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4,070 |
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Share repurchases |
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(128) |
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(1) |
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(9,999) |
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— |
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(10,000) |
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Balance at June 30, 2022 |
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36,567 |
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366 |
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315,590 |
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3,096,513 |
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3,412,469 |
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During the three months ended June 30, 2023, our Board of Directors approved, and we paid, a quarterly cash dividend on common stock of $0.27 per share. Quarterly dividends declared and paid during the six months ended June 30, 2023 totaled $0.54 per share. There were no such transactions in the three and six months ended June 30, 2022.
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