| Earnings Per Share |
Earnings Per Share Class A and Class B basic earnings per share and Class B diluted earnings per share are calculated under the two-class method. The two-class method allocates earnings to each class of stock based upon its dividend rights. Class B shares are convertible into Class A shares at a conversion ratio of 2,400 to 1. See Note 11, "Capital Stock".
Class A diluted earnings per share is calculated under the if-converted method, which reflects the conversion of Class B shares to Class A shares. Diluted earnings per share calculations include the dilutive effect of assumed issuance of stock-based awards under compensation plans that have the option to be paid in stock using the treasury stock method.
A reconciliation of the numerators and denominators used in the basic and diluted per-share computations is presented as follows for each class of common stock: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, | | | 2026 | | 2025 | | (dollars in thousands, except per share data) | | Allocated net income (numerator) | | Weighted shares (denominator) | | Per-share amount | | Allocated net income (numerator) | | Weighted shares (denominator) | | Per-share amount | | Class A – Basic EPS: | | | | | | | | | | | | | | Income available to Class A stockholders | | $ | 180,499 | | | 46,189,049 | | | $ | 3.91 | | | $ | 181,356 | | | 46,189,068 | | | $ | 3.93 | | | Dilutive effect of stock-based awards | | 0 | | | 11,082 | | | — | | | 0 | | | 15,731 | | | — | | | Assumed conversion of Class B shares | | 1,490 | | | 6,100,800 | | | — | | | 1,497 | | | 6,100,800 | | | — | | | Class A – Diluted EPS: | | | | | | | | | | | | | Income available to Class A stockholders on Class A equivalent shares | | $ | 181,989 | | | 52,300,931 | | | $ | 3.48 | | | $ | 182,853 | | | 52,305,599 | | | $ | 3.50 | | Class B – Basic EPS: | | | | | | | | | | | | | | Income available to Class B stockholders | | $ | 1,490 | | | 2,542 | | | $ | 586 | | | $ | 1,497 | | | 2,542 | | | $ | 589 | | | Class B – Diluted EPS: | | | | | | | | | | | | | | Income available to Class B stockholders | | $ | 1,490 | | | 2,542 | | | $ | 586 | | | $ | 1,497 | | | 2,542 | | | $ | 589 | | | | | | | | | | | | | | | | | Nine months ended September 30, | | | 2026 | | 2025 | | (dollars in thousands, except per share data) | | Allocated net income (numerator) | | Weighted shares (denominator) | | Per-share amount | | Allocated net income (numerator) | | Weighted shares (denominator) | | Per-share amount | | Class A – Basic EPS: | | | | | | | | | | | | | | Income available to Class A stockholders | | $ | 508,559 | | | 46,188,978 | | | $ | 11.01 | | | $ | 491,894 | | | 46,189,012 | | | $ | 10.65 | | | Dilutive effect of stock-based awards | | 0 | | | 10,158 | | | | | 0 | | | 14,985 | | | — | | | Assumed conversion of Class B shares | | 4,198 | | | 6,100,800 | | | — | | | 4,061 | | | 6,100,800 | | | — | | | Class A – Diluted EPS: | | | | | | | | | | | | | Income available to Class A stockholders on Class A equivalent shares | | $ | 512,757 | | | 52,299,936 | | | $ | 9.80 | | | $ | 495,955 | | | 52,304,797 | | | $ | 9.48 | | | Class B – Basic EPS: | | | | | | | | | | | | | | Income available to Class B stockholders | | $ | 4,198 | | | 2,542 | | | $ | 1,652 | | | $ | 4,061 | | | 2,542 | | | $ | 1,597 | | | Class B – Diluted EPS: | | | | | | | | | | | | | | Income available to Class B stockholders | | $ | 4,198 | | | 2,542 | | | $ | 1,651 | | | $ | 4,060 | | | 2,542 | | | $ | 1,597 | |
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