| Summary of Changes in Shareholders' Equity |
A summary of changes in stockholders’ equity is presented below (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended June 30, 2023 |
|
| |
|
(In thousands) |
|
| |
|
Number of
Shares |
|
Common
Stock |
|
Additional
Paid-In
Capital |
|
Retained
Earnings |
|
Total |
|
| Balance at December 31, 2022 |
|
36,571 |
|
|
$ |
366 |
|
|
$ |
327,878 |
|
|
$ |
3,621,367 |
|
|
$ |
3,949,611 |
|
|
| Net earnings |
|
— |
|
|
— |
|
|
— |
|
|
131,301 |
|
|
131,301 |
|
|
| Stock-based compensation expense |
|
— |
|
|
— |
|
|
6,225 |
|
|
— |
|
|
6,225 |
|
|
| Issuance of stock |
|
287 |
|
|
3 |
|
|
(3) |
|
|
— |
|
|
— |
|
|
| Dividends declared |
|
— |
|
|
— |
|
|
— |
|
|
(9,927) |
|
|
(9,927) |
|
|
| Share repurchases |
|
(93) |
|
|
(1) |
|
|
(9,999) |
|
|
— |
|
|
(10,000) |
|
|
| Balance at March 31, 2023 |
|
36,765 |
|
|
$ |
368 |
|
|
$ |
324,101 |
|
|
$ |
3,742,741 |
|
|
$ |
4,067,210 |
|
|
| Net earnings |
|
— |
|
|
— |
|
|
— |
|
|
186,836 |
|
|
186,836 |
|
|
| Stock-based compensation expense |
|
— |
|
|
— |
|
|
4,176 |
|
|
— |
|
|
4,176 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividends declared |
|
— |
|
|
— |
|
|
— |
|
|
(9,927) |
|
|
(9,927) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance at June 30, 2023 |
|
36,765 |
|
|
$ |
368 |
|
|
$ |
328,277 |
|
|
$ |
3,919,650 |
|
|
$ |
4,248,295 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended June 30, 2022 |
| |
|
(In thousands) |
| |
|
Number of
Shares |
|
Common
Stock |
|
Additional
Paid-In
Capital |
|
Retained
Earnings |
|
Total |
| Balance at December 31, 2021 |
|
37,341 |
|
|
$ |
373 |
|
|
$ |
414,841 |
|
|
$ |
2,629,175 |
|
|
$ |
3,044,389 |
|
| Net earnings |
|
— |
|
|
— |
|
|
— |
|
|
217,254 |
|
|
217,254 |
|
| Stock-based compensation expense |
|
— |
|
|
— |
|
|
5,975 |
|
|
— |
|
|
5,975 |
|
| Issuance of stock |
|
392 |
|
|
4 |
|
|
(4) |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
| Share repurchases |
|
(1,038) |
|
|
(10) |
|
|
(99,293) |
|
|
— |
|
|
(99,303) |
|
| Balance at March 31, 2022 |
|
36,695 |
|
|
$ |
367 |
|
|
$ |
321,519 |
|
|
$ |
2,846,429 |
|
|
$ |
3,168,315 |
|
| Net earnings |
|
— |
|
|
— |
|
|
— |
|
|
250,084 |
|
|
250,084 |
|
| Stock-based compensation expense |
|
— |
|
|
— |
|
|
4,070 |
|
|
— |
|
|
4,070 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Share repurchases |
|
(128) |
|
|
(1) |
|
|
(9,999) |
|
|
— |
|
|
(10,000) |
|
| Balance at June 30, 2022 |
|
36,567 |
|
|
366 |
|
|
315,590 |
|
|
3,096,513 |
|
|
3,412,469 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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.
|