EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

We compute basic and diluted earnings per share based on the weighted-average number of shares of Common Stock and Class B common stock outstanding as follows:

For the years ended December 31,	2023				2022				2021
	Common Stock		Class B Common Stock		Common Stock		Class B Common Stock		Common Stock		Class B Common Stock
Basic earnings per share:
Numerator:
Allocation of distributed earnings (cash dividends paid)	$	663,176	$	225,895	$	567,897	$	207,133	$	498,084	$	187,903
Allocation of undistributed earnings	728,175		244,541		637,438		232,349		574,772		216,753
Total earnings—basic	$	1,391,351	$	470,436	$	1,205,335	$	439,482	$	1,072,856	$	404,656
Denominator (shares in thousands):
Total weighted-average shares—basic	149,499		55,239		146,713		58,822		146,120		60,614
Earnings Per Share—basic	$	9.31	$	8.52	$	8.22	$	7.47	$	7.34	$	6.68
Diluted earnings per share:
Numerator:
Allocation of total earnings used in basic computation	$	1,391,351	$	470,436	$	1,205,335	$	439,482	$	1,072,856	$	404,656
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	470,436		—		439,482		—		404,656		—
Reallocation of undistributed earnings	—		(987)		—		(1,201)		—		(1,098)
Total earnings—diluted	$	1,861,787	$	469,449	$	1,644,817	$	438,281	$	1,477,512	$	403,558
Denominator (shares in thousands):
Number of shares used in basic computation	149,499		55,239		146,713		58,822		146,120		60,614
Weighted-average effect of dilutive securities:
Conversion of Class B common stock to Common shares outstanding	55,239		—		58,822		—		60,614		—
Employee stock options	424		—		571		—		609		—
Performance and restricted stock units	385		—		469		—		415		—
Total weighted-average shares—diluted	205,547		55,239		206,575		58,822		207,758		60,614
Earnings Per Share—diluted	$	9.06	$	8.50	$	7.96	$	7.45	$	7.11	$	6.66