STOCKHOLDERS' EQUITY (Tables)

3 Months Ended

Sep. 30, 2023

Stockholders' Equity Note [Abstract]

Summary of Changes in Shareholders' Equity

A summary of changes in stockholders’ equity is presented below (in thousands): 

	Nine Months Ended September 30, 2023
	(In thousands)
	Number of Shares	Common Stock		Additional Paid-In Capital		Retained Earnings		Total
Balance at December 31, 2022	36,571	$	366	$	327,878	$	3,621,367	$	3,949,611
Net earnings	—	—		—		131,301		131,301
Stock-based compensation expense	—	—		6,225		—		6,225
Issuance of stock	287	3		(3)		—		—
Dividends declared	—	—		—		(9,927)		(9,927)
Share repurchases	(93)	(1)		(9,999)		—		(10,000)
Balance at March 31, 2023	36,765	$	368	$	324,101	$	3,742,741	$	4,067,210
Net earnings	—	—		—		186,836		186,836
Stock-based compensation expense	—	—		4,176		—		4,176
Dividends declared	—	—		—		(9,927)		(9,927)
Balance at June 30, 2023	36,765	$	368	$	328,277	$	3,919,650	$	4,248,295
Net earnings	—	—		—		221,760		221,760
Stock-based compensation expense	—	—		6,156		—		6,156
Dividends declared	—	—		—		(9,841)		(9,841)
Issuance of stock	4	—		—		—		—
Share repurchases	(319)	(4)		(45,324)		—		(45,328)
Balance at September 30, 2023	36,450	$	364	$	289,109	$	4,131,569	$	4,421,042

	Nine Months Ended September 30, 2022
	(In thousands)
	Number of Shares	Common Stock		Additional Paid-In Capital		Retained Earnings		Total
Balance at December 31, 2021	37,341	$	373	$	414,841	$	2,629,175	$	3,044,389
Net earnings	—	—		—		217,254		217,254
Stock-based compensation expense	—	—		5,975		—		5,975
Issuance of stock	392	4		(4)		—		—
Share repurchases	(1,038)	(10)		(99,293)		—		(99,303)
Balance at March 31, 2022	36,695	$	367	$	321,519	$	2,846,429	$	3,168,315
Net earnings	—	—		—		250,084		250,084
Stock-based compensation expense	—	—		4,070		—		4,070
Share repurchases	(128)	(1)		(9,999)		—		(10,000)
Balance at June 30, 2022	36,567	$	366	$	315,590	$	3,096,513	$	3,412,469
Net earnings	—	—		—		262,489		262,489
Stock-based compensation expense	—	—		6,852		—		6,852
Issuance of stock	4	—		—		—		—
Balance at September 30, 2022	36,571	$	366	$	322,442	$	3,359,002	$	3,681,810

During the three months ended September 30, 2023, our Board of Directors approved, and we paid, a quarterly cash dividend on common stock of $0.27 per share. Quarterly dividends declared and paid during the nine months ended September 30, 2023 totaled $0.81 per share. There were no such transactions in the three and nine months ended September 30, 2022. The Inflation Reduction Act of 2022 ("IRA"), which was enacted into law on August 16, 2022, imposed a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022. During the three and nine months ended September 30, 2023, we reflected the applicable excise tax in Additional paid-in capital as part of the cost basis of the stock repurchased and recorded a corresponding liability for the excise taxes payable in Accrued liabilities on the accompanying unaudited consolidated balance sheets.