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v3.26.1

Consolidated Statements of Changes in Shareholders' Equity $ in Thousands | USD ($) | Share capital USD ($) shares | Additional paid-in capital USD ($) | Treasury shares USD ($) shares | Retained earnings USD ($)
--- | --- | --- | --- | --- | ---
Beginning balance (in shares) at Dec. 31, 2022 | shares |  |  | 61,262,838 |  |  |
Beginning balance at Dec. 31, 2022 |  | $ 2,506,808 | $ 727 | $ 3,049,732 | $ (641,545) | $ 97,894
Net income for the period |  | 546,898 |  |  |  | 546,898
Issuance of restricted stock, net of forfeitures (in shares) | shares |  |  | 1,805,250 |  |  |
Issuance of restricted stock, net of forfeitures |  | 0 | $ 18 | (18) |  |
Equity settled share based compensation expense |  | 47,340 |  | 47,340 |  |
Purchase of treasury shares (in shares) | shares |  |  | (9,960,323) |  |  |
Purchase of treasury shares |  | (489,680) |  |  | (489,680) |
Dividends paid | [1] | (57,660) |  |  |  | (57,660)
Ending balance (in shares) at Dec. 31, 2023 | shares |  |  | 53,107,765 |  |  |
Ending balance at Dec. 31, 2023 |  | 2,553,706 | $ 745 | 3,097,054 | (1,131,225) | 587,132
Net income for the period |  | 668,774 |  |  |  | 668,774
Issuance of restricted stock, net of forfeitures (in shares) | shares |  |  | 1,468,466 |  |  |
Issuance of restricted stock, net of forfeitures |  | 0 | $ 15 | (15) |  |
Equity settled share based compensation expense |  | 62,509 |  | 62,509 |  |
Purchase of treasury shares (in shares) | shares |  |  | (4,653,189) |  |  |
Purchase of treasury shares |  | (335,593) |  |  | $ (335,593) |
Dividends paid | [1] | (83,515) |  |  |  | (83,515)
Ending balance (in shares) at Dec. 31, 2024 | shares |  |  | 49,923,042 |  | 26,042,709 |
Ending balance at Dec. 31, 2024 |  | 2,865,881 | $ 760 | 3,159,548 | $ (1,466,818) | 1,172,391
Net income for the period |  | 344,292 |  |  |  | 344,292
Issuance of restricted stock, net of forfeitures (in shares) | shares |  |  | 1,846,248 |  |  |
Issuance of restricted stock, net of forfeitures |  | 0 | $ 18 | (18) |  |
Equity settled share based compensation expense |  | 71,654 |  | 71,654 |  |
Purchase of treasury shares (in shares) | shares |  |  | (6,500) |  |  |
Purchase of treasury shares |  | (309) |  |  | $ (309) |
Dividends paid | [1] | (82,520) |  |  |  | (82,520)
Ending balance (in shares) at Dec. 31, 2025 | shares |  |  | 51,762,790 |  | 26,049,209 |
Ending balance at Dec. 31, 2025 |  | $ 3,198,998 | $ 778 | $ 3,231,184 | $ (1,467,127) | $ 1,434,163
[1] | The Company's policy is to distribute dividends from available retained earnings first and then from additional paid in capital.

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