XML 43 R30.htm IDEA: XBRL DOCUMENT v3.24.3
Capital Structure - Schedule of Sale of Stock by Subsidiary or Equity Method Investee Disclosure (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
 [1]
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Class of Stock [Line Items]                
Cash and cash equivalents $ 639,767     $ 316,767        
Debt: Short-term borrowings 10,000     5,000        
Preferred Stock, no par value; 100,000 shares authorized, none issued and outstanding, unadjusted; no par value, 10,000,000 shares authorized, none issued and outstanding, as adjusted for Reclassification and as further adjusted for IPO [2] 0     0        
Additional paid-in capital 38,276     38,264        
Retained earnings 73,901     56,692        
Accumulated other comprehensive loss (7,380)     (11,565)        
Total stockholders’ equity 104,843 $ 93,993 $ 87,601 83,437 $ 75,153 $ 73,044 $ 72,569 $ 68,783
Class A Common Stock                
Class of Stock [Line Items]                
Old Common Stock [2] 0     0        
Class B Common Stock                
Class of Stock [Line Items]                
Old Common Stock [2] 46     $ 46        
Unadjusted                
Class of Stock [Line Items]                
Cash and cash equivalents 639,767              
Debt: Short-term borrowings 10,000              
Preferred Stock, no par value; 100,000 shares authorized, none issued and outstanding, unadjusted; no par value, 10,000,000 shares authorized, none issued and outstanding, as adjusted for Reclassification and as further adjusted for IPO 0              
Additional paid-in capital 38,295              
Retained earnings 73,901              
Accumulated other comprehensive loss (7,380)              
Total stockholders’ equity 104,843              
Unadjusted | Old Common Stock                
Class of Stock [Line Items]                
Old Common Stock 27              
Unadjusted | Class A Common Stock                
Class of Stock [Line Items]                
Old Common Stock 0              
Unadjusted | Class B Common Stock                
Class of Stock [Line Items]                
Old Common Stock 0              
As adjusted for Reclassification                
Class of Stock [Line Items]                
Cash and cash equivalents 639,767              
Debt: Short-term borrowings 10,000              
Preferred Stock, no par value; 100,000 shares authorized, none issued and outstanding, unadjusted; no par value, 10,000,000 shares authorized, none issued and outstanding, as adjusted for Reclassification and as further adjusted for IPO 0              
Additional paid-in capital 38,276              
Retained earnings 73,901              
Accumulated other comprehensive loss (7,380)              
Total stockholders’ equity 104,843              
As adjusted for Reclassification | Old Common Stock                
Class of Stock [Line Items]                
Old Common Stock 0              
As adjusted for Reclassification | Class A Common Stock                
Class of Stock [Line Items]                
Old Common Stock 0              
As adjusted for Reclassification | Class B Common Stock                
Class of Stock [Line Items]                
Old Common Stock 46              
As Further Adjusted for IPO                
Class of Stock [Line Items]                
Cash and cash equivalents 666,293              
Debt: Short-term borrowings 0              
Preferred Stock, no par value; 100,000 shares authorized, none issued and outstanding, unadjusted; no par value, 10,000,000 shares authorized, none issued and outstanding, as adjusted for Reclassification and as further adjusted for IPO 0              
Additional paid-in capital 74,782              
Retained earnings 73,901              
Accumulated other comprehensive loss (7,380)              
Total stockholders’ equity 141,369              
As Further Adjusted for IPO | Old Common Stock                
Class of Stock [Line Items]                
Old Common Stock 0              
As Further Adjusted for IPO | Class A Common Stock                
Class of Stock [Line Items]                
Old Common Stock 20              
As Further Adjusted for IPO | Class B Common Stock                
Class of Stock [Line Items]                
Old Common Stock $ 46              
[1] Derived from audited financial statements.
[2] On October 3, 2024, the Company filed an Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware, which reclassified and converted each outstanding share of the Company’s existing common stock, par value $1.00 per share (“Old Common Stock”), into 170 shares of Class B Common Stock, par value $0.01 per share (the “Reclassification”). The Reclassification also authorized 20,000,000 shares of Class A Common Stock, and 10,000,000 shares of Preferred Stock. Share information is presented on an as adjusted basis giving effect to the Reclassification. Accordingly, all shares and balances relating to Old Common Stock are reflected in Class B Common Stock. See Note 2—Capital Structure in the Notes to Unaudited Consolidated Financial Statements contained within this Form 10-Q.