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Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Statements of Income        
Net revenues $ 564,135 $ 542,609 $ 1,627,536 $ 1,555,078
Operating expenses (income)        
Direct advertising expenses (exclusive of depreciation and amortization) 182,585 175,188 541,495 515,403
General and administrative expenses (exclusive of depreciation and amortization) 91,006 81,283 268,508 256,943
Corporate expenses (exclusive of depreciation and amortization) 31,350 24,248 100,105 81,331
Depreciation and amortization 75,112 74,636 227,531 222,919
Gain on disposition of assets (2,474) (879) (5,486) (5,243)
Operating expenses (income) 377,579 354,476 1,132,153 1,071,353
Operating income 186,556 188,133 495,383 483,725
Other (income) expense        
Loss on extinguishment of debt 270 115 270 115
Interest income (662) (621) (1,701) (1,559)
Interest expense 42,937 45,070 131,761 130,163
Equity in earnings of investee (2,642) (699) (2,087) (1,326)
Total other (income) expense 39,903 43,865 128,243 127,393
Income before income tax (benefit) expense 146,653 144,268 367,140 356,332
Income tax (benefit) expense (1,169) 3,843 3,225 8,821
Net income 147,822 140,425 363,915 347,511
Net income attributable to non-controlling interest 346 408 849 833
Net income attributable to controlling interest 147,476 140,017 363,066 346,678
Cash dividends declared and paid on preferred stock 91 91 273 273
Net income applicable to common stock $ 147,385 $ 139,926 $ 362,793 $ 346,405
Earnings per share:        
Basic earnings per share (in dollars per share) $ 1.44 $ 1.37 $ 3.55 $ 3.40
Diluted earnings per share (in dollars per share) 1.44 1.37 3.54 3.39
Cash dividends declared per share of common stock (in dollars per share) $ 1.40 $ 1.25 $ 4.00 $ 3.75
Weighted average common shares used in computing earnings per share:        
Weighted average common shares outstanding basic (in shares) 102,307,059 101,960,356 102,223,918 101,890,573
Weighted average common shares outstanding diluted (in shares) 102,617,515 102,130,614 102,547,490 102,085,016
Statements of Comprehensive Income        
Net income $ 147,822 $ 140,425 $ 363,915 $ 347,511
Other comprehensive income (loss)        
Foreign currency translation adjustments 37 (643) (786) (242)
Comprehensive income 147,859 139,782 363,129 347,269
Net income attributable to non-controlling interest 346 408 849 833
Comprehensive income attributable to controlling interest $ 147,513 $ 139,374 $ 362,280 $ 346,436