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Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share
 
Three Months Ended June 30,
 
2014
 
2013
 
Class A
 
Class B
 
Class A
 
Class B
 
(In thousands except per share amounts)
 
 
 
 
 
 
 
 
Numerator for Basic and Diluted Earnings Per Share:
 
 
 
 
 
 
 
Net income
$
29,183

 
 
 
26,991

 
 
Dividends - Class A shares

 
 
 

 
 
Dividends - Class B shares

 
 
 

 
 
 
 
 
 
 
 
 
 
Undistributed income
$
29,183

 
 
 
26,991

 
 
 
 
 
 
 
 
 
 
Allocation of net income:
 

 
 
 
 

 
 
Dividends
$

 

 

 

Allocation of undistributed income
28,358

 
825

 
26,227

 
764

 
 
 
 
 
 
 
 
Net income
$
28,358

 
825

 
26,227

 
764

 
 
 
 
 
 
 
 
Denominator:
 

 
 

 
 

 
 

Basic earnings per share - weighted-average shares
3,435

 
200

 
3,435

 
200

Effect of dilutive stock options
2

 

 
7

 

 
 
 
 
 
 
 
 
Diluted earnings per share - adjusted weighted-average shares for assumed conversions
3,437

 
200

 
3,442

 
200

 
 
 
 
 
 
 
 
Basic Earnings Per Share
$
8.26

 
4.13

 
7.64

 
3.82

 
 
 
 
 
 
 
 
Diluted Earnings Per Share
$
8.25

 
4.13

 
7.62

 
3.82



Stock options that were outstanding during the three months ended June 30, 2014 and 2013, but were not included in the computation of diluted earnings per share because the effect was anti-dilutive were approximately 22,300 and 32,000, respectively.
 
 
 
 
 
 
 
 
 
Six Months Ended June 30,
 
2014
 
2013
 
Class A
 
Class B
 
Class A
 
Class B
 
(In thousands except per share amounts)
 
 
 
 
 
 
 
 
Numerator for Basic and Diluted Earnings Per Share:
 
 
 
 
 
 
 
Net income
$
49,009

 
 
 
43,623

 
 
Dividends - Class A shares

 
 
 

 
 
Dividends - Class B shares

 
 
 

 
 
 
 
 
 
 
 
 
 
Undistributed income
$
49,009

 
 
 
43,623

 
 
 
 
 
 
 
 
 
 
Allocation of net income:
 

 
 
 
 

 
 
Dividends
$

 

 

 

Allocation of undistributed income
47,623

 
1,386

 
42,389

 
1,234

 
 
 
 
 
 
 
 
Net income
$
47,623

 
1,386

 
42,389

 
1,234

 
 
 
 
 
 
 
 
Denominator:
 

 
 

 
 

 
 

Basic earnings per share - weighted-average shares
3,435

 
200

 
3,435

 
200

Effect of dilutive stock options
2

 

 
6

 

 
 
 
 
 
 
 
 
Diluted earnings per share - adjusted weighted-average shares for assumed conversions
3,437

 
200

 
3,441

 
200

 
 
 
 
 
 
 
 
Basic Earnings Per Share
$
13.86

 
6.93

 
12.34

 
6.17

 
 
 
 
 
 
 
 
Diluted Earnings Per Share
$
13.86

 
6.93

 
12.32

 
6.17