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Earnings Per Share

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

The following tables present the computations of basic and diluted net earnings per share by class of common stock for the periods indicated:

			Three Months Ended September 30, 2025
															Non-Voting
									Class B						Common
			Voting						Non-Voting						Stock						Total
			Common						Common						Equivalents						Common
			(In thousands, except per share amounts)
Basic Earnings Per Share:
Net earnings available to common and equivalent stockholders			$	56,374					$	181					$	3,127					$	59,682
Less: Earnings allocated to unvested restricted stock (1)			(31)						—						—						(31)
Net earnings allocated to common and equivalent shares			$	56,343					$	181					$	3,127					$	59,651
Weighted average basic shares and unvested restricted
stock outstanding			148,477						477						8,231						157,185
Less: weighted average unvested restricted stock
outstanding			(82)						—						—						(82)
Weighted average basic shares outstanding			148,395						477						8,231						157,103
Basic earnings per share			$	0.38					$	0.38					$	0.38					$	0.38
Diluted Earnings Per Share:
Net earnings available to common and equivalent stockholders			$	56,374					$	181					$	3,127					$	59,682
Reallocation of net earnings as a result of conversion of
NVCE to Voting Common			3,127						—						—						—
Reallocation of net earnings			2						(2)						395						—
Net earnings for diluted earnings per share			$	59,503					$	179					$	3,522					$	59,682
Weighted average diluted shares outstanding			149,188						477						9,386						159,051
Conversion of NVCE to Voting Common			9,386						—						—						—
Shares used in computation of diluted earnings per share			158,574						477						9,386						159,051
Diluted earnings per share			$	0.38					$	0.38					$	0.38					$	0.38

________________________

(1)    Represents cash dividends paid to holders of unvested restricted stock, net of forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any.

			Nine Months Ended September 30, 2025
															Non-Voting
									Class B						Common
			Voting						Non-Voting						Stock						Total
			Common						Common						Equivalents						Common
			(In thousands, except per share amounts)
Basic Earnings Per Share:
Net earnings available to common and equivalent stockholders			$	114,387					$	360					$	6,994					$	121,741
Less: Earnings allocated to unvested restricted stock (1)			(89)						—						—						(89)
Net earnings allocated to common and equivalent shares			$	114,298					$	360					$	6,994					$	121,652
Weighted average basic shares and unvested restricted
stock outstanding			151,677						477						9,266						161,420
Less: weighted average unvested restricted stock
outstanding			(144)						—						—						(144)
Weighted average basic shares outstanding			151,533						477						9,266						161,276
Basic earnings per share			$	0.75					$	0.75					$	0.75					$	0.75
Diluted Earnings Per Share:
Net earnings available to common and equivalent stockholders			$	114,387					$	360					$	6,994					$	121,741
Reallocation of net earnings as a result of conversion of
NVCE to Voting Common			6,994						—						—						—
Reallocation of net earnings			2						(2)						188						—
Net earnings for diluted earnings per share			$	121,383					$	358					$	7,182					$	121,741
Weighted average diluted shares outstanding			151,959						477						9,557						161,993
Conversion of NVCE to Voting Common			9,557						—						—						—
Shares used in computation of diluted earnings per share			161,516						477						9,557						161,993
Diluted earnings per share			$	0.75					$	0.75					$	0.75					$	0.75

________________________

(1)    Represents cash dividends paid to holders of unvested restricted stock, net of forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any.

			Three Months Ended September 30, 2024
															Non-Voting
									Class B						Common
			Voting						Non-Voting						Stock						Total
			Common						Common						Equivalents						Common
			(In thousands, except per share amounts)
Basic Loss Per Share:
Net loss available to common and equivalent stockholders			$	(1,092)					$	(3)					$	(68)					$	(1,163)
Less: Earnings allocated to unvested restricted stock (1)			59						—						—						59
Net loss allocated to common and equivalent shares			$	(1,033)					$	(3)					$	(68)					$	(1,104)
Weighted average basic shares and unvested restricted
stock outstanding			158,503						477						9,903						168,883
Less: weighted average unvested restricted stock
outstanding			(300)						—						—						(300)
Weighted average basic shares outstanding			158,203						477						9,903						168,583
Basic loss per share			$	(0.01)					$	(0.01)					$	(0.01)					$	(0.01)
Diluted Loss Per Share:
Net loss allocated to common and equivalent shares			$	(1,033)					$	(3)					$	(68)					$	(1,104)
Weighted average diluted shares outstanding			158,203						477						9,903						168,583
Diluted loss per share			$	(0.01)					$	(0.01)					$	(0.01)					$	(0.01)

________________________

(1)    Represents cash dividends paid to holders of unvested restricted stock, net of forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any.

			Nine Months Ended September 30, 2024
															Non-Voting
									Class B						Common
			Voting						Non-Voting						Stock						Total
			Common						Common						Equivalents						Common
			(In thousands, except per share amounts)
Basic Earnings Per Share:
Net earnings available to common and equivalent stockholders			$	37,575					$	114					$	2,439					$	40,128
Less: Earnings allocated to unvested restricted stock (1)			27						—						—						27
Net earnings allocated to common and equivalent shares			$	37,602					$	114					$	2,439					$	40,155
Weighted average basic shares and unvested restricted
stock outstanding			158,242						477						10,234						168,953
Less: weighted average unvested restricted stock
outstanding			(567)						—						—						(567)
Weighted average basic shares outstanding			157,675						477						10,234						168,386
Basic earnings per share			$	0.24					$	0.24					$	0.24					$	0.24
Diluted Earnings Per Share:
Net earnings allocated to common and equivalent shares			$	37,602					$	114					$	2,439					$	40,155
Weighted average diluted shares outstanding			157,675						477						10,234						168,386
Diluted earnings per share			$	0.24					$	0.24					$	0.24					$	0.24

________________________

(1)    Represents cash dividends paid to holders of unvested restricted stock, net of forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any.

The terms of each class of the Company’s capital stock are described in Note 15. Stockholders’ Equity to the accompanying condensed consolidated financial statements.

The following table presents the weighted average outstanding restricted shares and warrants that were not included in the computation of diluted earnings per share because their effect would be anti-dilutive for the periods indicated:

			Three Months Ended												Nine Months Ended
			September 30,												September 30,
			2025						2024						2025						2024
			(In thousands)
Restricted stock awards and units			81						300						144						567
Warrants			—						18,902						—						18,902

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/260/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-3

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