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STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Total
Cumulative effect adjustment
[1]
Class A common stock
Class B common stock
Common stock
Class A common stock
Common stock
Class B common stock
Additional paid-in-capital
Accumulated other comprehensive (loss) income
Retained earnings
Retained earnings
Cumulative effect adjustment
[1]
Retained earnings
Class A common stock
Retained earnings
Class B common stock
Treasury stock
Deferred compensation
Beginning balance at Dec. 31, 2019 $ 1,133,253 $ (1,075)     $ 1,992 $ 178 $ 16,483 $ (116,868) $ 2,377,558 $ (1,075)     $ (1,158,910) $ 12,820
Increase (decrease) in shareholders' equity                            
Accounting standards update us-gaap:AccountingStandardsUpdate201613Member                          
Net income $ 59,326               59,326          
Other comprehensive (loss) income (29,576)             (29,576)            
Dividends declared:     $ (44,572) $ (368)             $ (44,572) $ (368)    
Net purchase of treasury stock [2] 4           4           0  
Deferred compensation 0                       (772) 772
Ending balance at Mar. 31, 2020 1,116,992       1,992 178 16,487 (146,444) 2,390,869       (1,159,682) 13,592
Beginning balance at Dec. 31, 2019 1,133,253 $ (1,075)     1,992 178 16,483 (116,868) 2,377,558 $ (1,075)     (1,158,910) 12,820
Increase (decrease) in shareholders' equity                            
Net income 141,303                          
Other comprehensive (loss) income 10,535             10,535            
Ending balance at Jun. 30, 2020 1,194,139       1,992 178 16,487 (106,333) 2,427,905       (1,162,546) 16,456
Beginning balance at Mar. 31, 2020 1,116,992       1,992 178 16,487 (146,444) 2,390,869       (1,159,682) 13,592
Increase (decrease) in shareholders' equity                            
Net income 81,977               81,977          
Other comprehensive (loss) income 40,111             40,111            
Dividends declared:     (44,573) (368)             (44,573) (368)    
Net purchase of treasury stock [2] 0           0           0  
Deferred compensation 0                       (3,568) 3,568
Rabbi trust distribution [3] 0                       704 (704)
Ending balance at Jun. 30, 2020 1,194,139       1,992 178 16,487 (106,333) 2,427,905       (1,162,546) 16,456
Beginning balance at Dec. 31, 2020 1,188,048       1,992 178 16,487 (78,143) 2,393,624       (1,163,670) 17,580
Increase (decrease) in shareholders' equity                            
Net income 73,566               73,566          
Other comprehensive (loss) income (5,289)             (5,289)            
Dividends declared:     (47,806) (395)             (47,806) (395)    
Net purchase of treasury stock [2] 9           9           0  
Deferred compensation 0                       (846) 846
Rabbi trust distribution [3] 0                       876 (876)
Ending balance at Mar. 31, 2021 1,208,133       1,992 178 16,496 (83,432) 2,418,989       (1,163,640) 17,550
Beginning balance at Dec. 31, 2020 1,188,048       1,992 178 16,487 (78,143) 2,393,624       (1,163,670) 17,580
Increase (decrease) in shareholders' equity                            
Net income 152,595                          
Other comprehensive (loss) income 850             850            
Ending balance at Jun. 30, 2021 1,245,102       1,992 178 16,496 (77,293) 2,449,819       (1,167,211) 21,121
Beginning balance at Mar. 31, 2021 1,208,133       1,992 178 16,496 (83,432) 2,418,989       (1,163,640) 17,550
Increase (decrease) in shareholders' equity                            
Net income 79,029               79,029          
Other comprehensive (loss) income 6,139             6,139            
Dividends declared:     $ (47,805) $ (394)             $ (47,805) $ (394)    
Net purchase of treasury stock [2] 0           0           0  
Deferred compensation 0                       (3,668) 3,668
Rabbi trust distribution [3] 0                       97 (97)
Ending balance at Jun. 30, 2021 $ 1,245,102       $ 1,992 $ 178 $ 16,496 $ (77,293) $ 2,449,819       $ (1,167,211) $ 21,121
[1] The cumulative effect adjustment is related to the implementation of credit loss allowance accounting guidance effective January 1, 2020.
[2] Net purchases of treasury stock in 2021 and 2020 include the repurchase of our Class A common stock in the open market that were subsequently distributed to satisfy stock based compensation awards.
[3] Distributions of our Class A shares were made from the rabbi trust to a retired director and an incentive compensation deferral plan participant in 2021 and to a retired director in 2020.