v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) - USD ($)
$ in Thousands
Total
Additional paid-in capital
Accumulated other comprehensive income/(loss)
Retained earnings
Class A ‎Common Stock
Class A ‎Common Stock
Common stock
Class B ‎Common Stock
Class B ‎Common Stock
Common stock
Beginning balance (in shares) at Dec. 31, 2024           114,990,000   22,430,000
Beginning balance at Dec. 31, 2024 $ 4,177,333 $ 3,031,244 $ (6,861) $ 1,152,813   $ 115   $ 22
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Stock-based compensation 13,324 13,324            
Grant of contingent restricted stock units 429 429            
Exercise of stock options (in shares)           309,000    
Exercise of stock options 11,223 11,223            
Issuance of Class A common stock under employee and director equity option plans, net (in shares)           72,000    
Issuance of Class A common stock under employee and director equity option plans, net (2,293) (2,293)            
Comprehensive income/(loss) 80,156   4,694 75,462        
Repurchase and retirement of common stock (in shares)           (2,445,000)    
Repurchase and retirement of common stock (192,104)     (192,102)   $ (2)    
Ending balance (in shares) at Mar. 31, 2025           112,926,000   22,430,000
Ending balance at Mar. 31, 2025 4,088,068 3,053,927 (2,167) 1,036,173   $ 113   $ 22
Beginning balance (in shares) at Dec. 31, 2024           114,990,000   22,430,000
Beginning balance at Dec. 31, 2024 4,177,333 3,031,244 (6,861) 1,152,813   $ 115   $ 22
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Comprehensive income/(loss) 295,408              
Ending balance (in shares) at Jun. 30, 2025           112,620,000   22,430,000
Ending balance at Jun. 30, 2025 4,295,683 3,071,652 10,239 1,213,657   $ 113   $ 22
Beginning balance (in shares) at Mar. 31, 2025           112,926,000   22,430,000
Beginning balance at Mar. 31, 2025 4,088,068 3,053,927 (2,167) 1,036,173   $ 113   $ 22
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Stock-based compensation 13,154 13,154            
Grant of contingent restricted stock units 249 249            
Exercise of stock options (in shares)           77,000    
Exercise of stock options 4,697 4,697            
Issuance of Class A common stock under employee and director equity option plans, net (in shares)           28,000    
Issuance of Class A common stock under employee and director equity option plans, net (375) (375)            
Comprehensive income/(loss) 215,252   12,406 202,846        
Repurchase and retirement of common stock (in shares)           (411,000)    
Repurchase and retirement of common stock (25,362)     (25,362)        
Ending balance (in shares) at Jun. 30, 2025           112,620,000   22,430,000
Ending balance at Jun. 30, 2025 4,295,683 3,071,652 10,239 1,213,657   $ 113   $ 22
Beginning balance (in shares) at Dec. 31, 2025         112,625,126 112,625,000 22,430,097 22,430,000
Beginning balance at Dec. 31, 2025 4,573,250 3,169,812 15,346 1,387,957   $ 113   $ 22
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Stock-based compensation 12,788 12,788            
Grant of contingent restricted stock units 393 393            
Exercise of stock options (in shares)           515,000    
Exercise of stock options 25,961 25,961            
Issuance of Class A common stock under employee and director equity option plans, net (in shares)           96,000    
Issuance of Class A common stock under employee and director equity option plans, net (3,440) (3,440)            
Comprehensive income/(loss) 123,360   (942) 124,302        
Ending balance (in shares) at Mar. 31, 2026           113,236,000   22,430,000
Ending balance at Mar. 31, 2026 4,732,312 3,205,514 14,404 1,512,259   $ 113   $ 22
Beginning balance (in shares) at Dec. 31, 2025         112,625,126 112,625,000 22,430,097 22,430,000
Beginning balance at Dec. 31, 2025 $ 4,573,250 3,169,812 15,346 1,387,957   $ 113   $ 22
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Exercise of stock options (in shares) 741,000              
Comprehensive income/(loss) $ 271,721              
Ending balance (in shares) at Jun. 30, 2026         111,822,190 111,822,000 22,430,097 22,430,000
Ending balance at Jun. 30, 2026 4,768,603 3,230,186 11,196 1,527,087   $ 112   $ 22
Beginning balance (in shares) at Mar. 31, 2026           113,236,000   22,430,000
Beginning balance at Mar. 31, 2026 4,732,312 3,205,514 14,404 1,512,259   $ 113   $ 22
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Stock-based compensation 13,423 13,423            
Grant of contingent restricted stock units 291 291            
Exercise of stock options (in shares)           226,000    
Exercise of stock options 10,971 10,971            
Issuance of Class A common stock under employee and director equity option plans, net (13) (13)            
Comprehensive income/(loss) 148,361   (3,208) 151,569        
Repurchase and retirement of common stock (in shares)           (1,640,000)    
Repurchase and retirement of common stock (136,742)     (136,741)   $ (1)    
Ending balance (in shares) at Jun. 30, 2026         111,822,190 111,822,000 22,430,097 22,430,000
Ending balance at Jun. 30, 2026 $ 4,768,603 $ 3,230,186 $ 11,196 $ 1,527,087   $ 112   $ 22