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Shareholders' Equity | 9 Months Ended
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Sep. 30, 2025
Stockholders' Equity Note [Abstract] |
Shareholders' Equity | Shareholders' Equity a) The Company has 50,000,000 shares of no par value common stock authorized. The following table presents a rollforward of changes in common shares issued and outstanding.
| Quarter Ended September 30, |  | Nine Months Ended September 30,
(shares in ones) | 2025 |  | 2024 |  | 2025 |  | 2024
Issued and outstanding common shares, beginning of period | 12,654,180 |  |  | 12,962,032 |  |  | 12,790,117 |  |  | 13,131,672 |
Issuance of common shares | 2,844 |  |  | 5,324 |  |  | 6,508 |  |  | 9,311 |
Repurchase of common shares | (36,512) |  |  | (80,379) |  |  | (176,113) |  |  | (254,006) |
Issued and outstanding common shares, end of period | 12,620,512 |  |  | 12,886,977 |  |  | 12,620,512 |  |  | 12,886,977 |
b) The Company also has 10,000,000 shares of no par value preferred stock authorized, of which 600,000 shares were issued and outstanding at December 31, 2024. In June 2025, the Company redeemed in full its outstanding 600,000 6.00% Fixed-Rate Reset Non-Cumulative Series A preferred shares for $1,000 per share, for an aggregate value of $600.0 million. At September 30, 2025, none of the Company's preferred shares were issued and outstanding. The Company declared and paid dividends on outstanding preferred shares of $18.0 million, or $30 per share, in the second quarters of both 2025 and 2024. c) Net income per common share was determined by dividing adjusted net income to common shareholders by the applicable weighted average common shares outstanding. Weighted average basic common shares outstanding include restricted stock units that are no longer subject to any contingencies for issuance, but for which corresponding shares have not been issued. Diluted net income per common share is computed by dividing adjusted net income to common shareholders by the weighted average number of common shares and dilutive potential common shares outstanding during the period. The following table presents basic net income per common share and diluted net income per common share.
| Quarter Ended September 30, |  | Nine Months Ended September 30,
(in thousands, except per share amounts) | 2025 |  | 2024 |  | 2025 |  | 2024
Net income to common shareholders | $ | 751,336 |  |  | $ | 904,959 |  |  | $ | 1,504,089 |  |  | $ | 2,179,844 |
Adjustment and purchase of redeemable noncontrolling interests | (4,653) |  |  | (42,565) |  |  | 29,989 |  |  | (81,267) |
Adjusted net income to common shareholders | $ | 746,683 |  |  | $ | 862,394 |  |  | $ | 1,534,078 |  |  | $ | 2,098,577 |
Weighted average basic common shares outstanding | 12,562 |  |  | 12,987 |  |  | 12,687 |  |  | 13,058 |
Weighted average dilutive potential common shares from restricted stock units and restricted stock | 40 |  |  | 30 |  |  | 33 |  |  | 24 |
Weighted average diluted common shares outstanding | 12,602 |  |  | 13,017 |  |  | 12,720 |  |  | 13,082 |
Basic net income per common share | $ | 59.44 |  |  | $ | 66.40 |  |  | $ | 120.92 |  |  | $ | 160.71 |
Diluted net income per common share | $ | 59.25 |  |  | $ | 66.25 |  |  | $ | 120.60 |  |  | $ | 160.42 |

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