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Consolidated Statements Of Changes In Shareholders' Equity - USD ($)
$ in Thousands
Total
Preferred Stock [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
AOCI Attributable to Parent [Member]
Treasury Stock [Member]
Balance, beginning of year at Dec. 31, 2020   $ 535,000 $ 16,749 $ 1,888,982 $ 2,078,135 $ 27,639 $ (307,739)
Net Income (Loss) $ 824,858       824,858    
Unit amortization, net of forfeitures       127,458      
Distributions under employee plans       (120,158) (35,233)   74,568
Dividends declared, Common         (74,437)    
Dividends declared, Preferred         (35,587)    
Issuance of preferred stock   300,000   (9,112)      
Common stock issued for acquisitions       35,186     54,814
Redemption of preferred stock   (150,000)          
Unrealized gains/(losses) on securities, net of tax (19,385) [1],[2]         (19,385)  
Foreign currency translation adjustment, net of tax (3,536) [1],[3]         (3,536)  
Other       26 (528)    
Common stock repurchased             (172,741)
Balance, end of year at Dec. 31, 2021 5,034,959 685,000 16,749 1,922,382 2,757,208 4,718 (351,098)
Net Income (Loss) 662,155       662,155    
Unit amortization, net of forfeitures       150,408      
Distributions under employee plans       (144,658) (65,415)   104,447
Dividends declared, Common         (148,694)    
Dividends declared, Preferred         (37,281)    
Issuance of preferred stock   0   0      
Common stock issued for acquisitions       0     0
Redemption of preferred stock   0          
Unrealized gains/(losses) on securities, net of tax (177,731) [1],[2]         (177,731)  
Foreign currency translation adjustment, net of tax 55,053 [1],[3]         55,053  
Other       (63) 1,122    
Common stock repurchased (105,800)           (105,831)
Balance, end of year at Dec. 31, 2022 5,328,471 685,000 16,749 1,928,069 3,169,095 (117,960) (352,482)
Net Income (Loss) 522,536       522,536    
Unit amortization, net of forfeitures       149,088      
Distributions under employee plans       (172,154) (83,135)   159,659
Dividends declared, Common         (172,985)    
Dividends declared, Preferred         (37,281)    
Issuance of preferred stock   0          
Unrealized gains/(losses) on securities, net of tax 38,180 [1],[2]         38,180  
Foreign currency translation adjustment, net of tax 5,454 [1],[3]         5,454  
Other       94 380    
Common stock repurchased (441,300)           (443,876)
Balance, end of year at Dec. 31, 2023 $ 5,294,431 $ 685,000 $ 16,749 $ 1,905,097 $ 3,398,610 $ (74,326) $ (636,699)
[1] Net of a tax expense of $15.4 million, tax benefit of $41.3 million, and tax benefit of $6.7 million for the years ended December 31, 2023, 2022, and 2021, respectively.
[2] Net of reclassifications to earnings of realized losses of $5.6 million for the year ended December 31, 2023. There were no reclassifications to earnings for the years ended December 31, 2022 and 2021.
[3] During the year ended December 31, 2022, we closed our derivative instruments used to hedge the foreign exchange risk related to our equity investment in non-U.S. Dollar functional currency foreign subsidiaries, primarily the British Pound and Euro. The net gain recorded on these hedges was $75.0 million, which included $23.3 million in tax expense.