STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

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

	Three Months Ended March 31, 2024
	Number of Shares	Common Stock		Additional Paid-In Capital		Retained Earnings		Total
Balance at December 31, 2023	36,425	$	364	$	290,955	$	4,320,581	$	4,611,900
Net earnings	—	—		—		186,016		186,016
Stock-based compensation expense	—	—		6,114		—		6,114
Issuance of stock	256	3		(3)		—		—
Dividends declared	—	—		—		(27,239)		(27,239)
Repurchase of shares	(362)	(4)		(56,214)		—		(56,218)
Balance at March 31, 2024	36,319	$	363	$	240,852	$	4,479,358	$	4,720,573

	Three Months Ended March 31, 2023
	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)
Repurchase of shares	(93)	(1)		(9,999)		—		(10,000)
Balance at March 31, 2023	36,765	$	368	$	324,101	$	3,742,741	$	4,067,210

During the three months ended March 31, 2024 and 2023, our Board of Directors approved, and we paid, a quarterly cash dividend on common stock of $0.75 and $0.27 per share, respectively. During the three months ended March 31, 2024 and 2023, we reflected the applicable excise tax on share repurchases in Additional paid-in capital as part of the cost basis of the stock repurchased and recorded a corresponding liability in Accrued liabilities on the accompanying unaudited consolidated balance sheets.