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STOCKHOLDERS' EQUITY | 6 Months Ended
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Jun. 30, 2025
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, 2025 |
|  | (In thousands) |
|  | Number of Shares |  | Common Stock |  | Additional Paid-In Capital |  | Retained Earnings |  | Total |
Balance at December 31, 2024 |  | 71,922 |  |  | $ | 360 |  |  | $ | 143,036 |  |  | $ | 4,998,177 |  |  | $ | 5,141,573 |  |
Stock Split effective January 2, 2025 (See Note 8) |  | — |  |  | 360 |  |  | (360) |  |  | — |  |  | — |  |
Net earnings |  | — |  |  | — |  |  | — |  |  | 122,806 |  |  | 122,806 |  |
Stock-based compensation expense |  | — |  |  | — |  |  | 6,325 |  |  | — |  |  | 6,325 |  |
Issuance of stock |  | 514 |  |  | 5 |  |  | (5) |  |  | — |  |  | — |  |
Dividends declared |  | — |  |  | — |  |  | — |  |  | (30,887) |  |  | (30,887) |  |
Share repurchases |  | (605) |  |  | (7) |  |  | (45,066) |  |  | — |  |  | (45,073) |  |
Balance at March 31, 2025 |  | 71,831 |  |  | $ | 718 |  |  | $ | 103,930 |  |  | $ | 5,090,096 |  |  | $ | 5,194,744 |  |
Net earnings |  | — |  |  | — |  |  | — |  |  | 146,879 |  |  | 146,879 |  |
Stock-based compensation expense |  | — |  |  | — |  |  | 3,597 |  |  | — |  |  | 3,597 |  |
Dividends declared |  | — |  |  | — |  |  | — |  |  | (30,597) |  |  | (30,597) |  |
Share repurchases |  | (674) |  |  | (6) |  |  | (45,443) |  |  | — |  |  | (45,449) |  |
Balance at June 30, 2025 |  | 71,157 |  |  | $ | 712 |  |  | $ | 62,084 |  |  | $ | 5,206,378 |  |  | $ | 5,269,174 |  |
|  | Six Months Ended June 30, 2024 |
|  | (In thousands) |
|  | Number of Shares (1) |  | Common Stock |  | Additional Paid-In Capital |  | Retained Earnings |  | Total |
Balance at December 31, 2023 |  | 72,850 |  |  | $ | 364 |  |  | $ | 290,955 |  |  | $ | 4,320,581 |  |  | $ | 4,611,900 |  |
Net earnings |  | — |  |  | — |  |  | — |  |  | 186,016 |  |  | 186,016 |  |
Stock-based compensation expense |  | — |  |  | — |  |  | 6,114 |  |  | — |  |  | 6,114 |  |
Issuance of stock |  | 512 |  |  | 3 |  |  | (3) |  |  | — |  |  | — |  |
Dividends declared |  | — |  |  | — |  |  | — |  |  | (27,239) |  |  | (27,239) |  |
Share repurchases |  | (724) |  |  | (4) |  |  | (56,214) |  |  | — |  |  | (56,218) |  |
Balance at March 31, 2024 |  | 72,638 |  |  | $ | 363 |  |  | $ | 240,852 |  |  | $ | 4,479,358 |  |  | $ | 4,720,573 |  |
Net earnings |  | — |  |  | — |  |  | — |  |  | 231,555 |  |  | 231,555 |  |
Stock-based compensation expense |  | — |  |  | — |  |  | 4,718 |  |  | — |  |  | 4,718 |  |
Issuance of stock |  | 16 |  |  | — |  |  | — |  |  | — |  |  | — |  |
Dividends declared |  | — |  |  | — |  |  | — |  |  | (27,245) |  |  | (27,245) |  |
Share repurchases |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |
Capped call transactions, net of tax |  | — |  |  | — |  |  | (47,067) |  |  | — |  |  | (47,067) |  |
Balance at June 30, 2024 |  | 72,654 |  |  | 363 |  |  | 198,503 |  |  | 4,683,668 |  |  | 4,882,534 |  |
(1) Share amounts have been retroactively adjusted to reflect the Stock Split that was effective on January 2, 2025. See Note 1. During the three months ended June 30, 2025 and 2024, our Board of Directors approved, and we paid, a quarterly cash dividend on common stock of $0.43 and $0.375 per share, respectively. Quarterly dividends declared and paid during the six months ended June 30, 2025 and 2024, totaled $0.86 and $0.75 per share, respectively. During the three and six months ended June 30, 2025 and 2024, we reflected the applicable excise tax on share repurchases in Additional paid-in capital as part of the cost basis of the stock repurchased and recorded a corresponding liability in Accrued liabilities on the accompanying unaudited consolidated balance sheets.

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