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STOCKHOLDERS' EQUITY | 6 Months Ended
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Jun. 30, 2023
Stockholders' Equity Note [Abstract] |
STOCKHOLDERS' EQUITY | STOCKHOLDERS’ 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.

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