v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Balance at Dec. 31, 2023 $ 4,732,351 $ 1,219 $ 4,270,948 $ 460,184
Balance, shares at Dec. 31, 2023   121,857    
Vesting of restricted stock units   $ 4 (4)  
Vesting of restricted stock units, shares   438    
Stock-based compensation expense 16,900   16,900  
Repurchase of common stock [1] $ (19,600) $ (1)   (19,599)
Repurchase of common stock, shares (100) (97) [1]    
Exercise of stock options $ 151   151  
Exercise of stock options, shares   21    
Shares withheld for restricted stock units vested (31,876) $ (3) (31,873)  
Shares withheld for restricted stock units vested, shares   (169)    
Net income 258,781     258,781
Balance at Mar. 31, 2024 4,956,708 $ 1,220 4,256,122 699,366
Balance, shares at Mar. 31, 2024   122,049    
Balance at Dec. 31, 2023 4,732,351 $ 1,219 4,270,948 460,184
Balance, shares at Dec. 31, 2023   121,857    
Net income 887,654      
Balance at Sep. 30, 2024 4,446,673 $ 1,156 4,266,561 178,956
Balance, shares at Sep. 30, 2024   115,557    
Balance at Mar. 31, 2024 4,956,708 $ 1,220 4,256,122 699,366
Balance, shares at Mar. 31, 2024   122,049    
Vesting of restricted stock units   $ 3 (3)  
Vesting of restricted stock units, shares   351    
Stock-based compensation expense 16,726   16,726  
Repurchase of common stock [1] $ (989,608) $ (58)   (989,550)
Repurchase of common stock, shares (5,800) (5,821) [1]    
Exercise of stock options $ 28   28  
Exercise of stock options, shares   2    
Shares withheld for restricted stock units vested (23,302) $ (1) (23,301)  
Shares withheld for restricted stock units vested, shares   (130)    
Net income 344,090     344,090
Balance at Jun. 30, 2024 4,304,642 $ 1,164 4,249,572 53,906
Balance, shares at Jun. 30, 2024   116,451    
Vesting of restricted stock units, shares   7    
Stock-based compensation expense 17,259   17,259  
Repurchase of common stock [1] $ (159,741) $ (8)   (159,733)
Repurchase of common stock, shares (900) (904) [1]    
Exercise of stock options $ 66   66  
Exercise of stock options, shares   5    
Shares withheld for restricted stock units vested (336)   (336)  
Shares withheld for restricted stock units vested, shares   (2)    
Net income 284,783     284,783
Balance at Sep. 30, 2024 4,446,673 $ 1,156 4,266,561 178,956
Balance, shares at Sep. 30, 2024   115,557    
Balance at Dec. 31, 2024 $ 4,296,470 $ 1,136 4,271,269 24,065
Balance, shares at Dec. 31, 2024 113,578 113,578    
Vesting of restricted stock units   $ 4 (4)  
Vesting of restricted stock units, shares   376    
Stock-based compensation expense $ 14,238   14,238  
Repurchase of common stock [2] $ (12,750) $ (1)   (12,749)
Repurchase of common stock, shares (100) (97) [2]    
Exercise of stock options $ 77   77  
Exercise of stock options, shares   9    
Shares withheld for restricted stock units vested (20,179) $ (2) (20,177)  
Shares withheld for restricted stock units vested, shares   (140)    
Net income 96,304     96,304
Balance at Mar. 31, 2025 4,374,160 $ 1,137 4,265,403 107,620
Balance, shares at Mar. 31, 2025   113,726    
Balance at Dec. 31, 2024 $ 4,296,470 $ 1,136 4,271,269 24,065
Balance, shares at Dec. 31, 2024 113,578 113,578    
Net income $ 403,719      
Balance at Sep. 30, 2025 $ 4,316,189 $ 1,106 4,192,699 122,384
Balance, shares at Sep. 30, 2025 110,552 110,552    
Balance at Mar. 31, 2025 $ 4,374,160 $ 1,137 4,265,403 107,620
Balance, shares at Mar. 31, 2025   113,726    
Vesting of restricted stock units   $ 2 (2)  
Vesting of restricted stock units, shares   166    
Stock-based compensation expense 16,160   16,160  
Repurchase of common stock [2],[3] $ (390,856) $ (33) (98,172) (292,651)
Repurchase of common stock, shares (3,300) (3,305) [2],[3]    
Exercise of stock options $ 69   69  
Exercise of stock options, shares   5    
Shares withheld for restricted stock units vested (6,472) $ (1) (6,471)  
Shares withheld for restricted stock units vested, shares   (55)    
Net income 185,031     185,031
Balance at Jun. 30, 2025 4,178,092 $ 1,105 4,176,987  
Balance, shares at Jun. 30, 2025   110,537    
Vesting of restricted stock units   $ 1 (1)  
Vesting of restricted stock units, shares   19    
Stock-based compensation expense 16,402   16,402  
Exercise of stock options 29   29  
Exercise of stock options, shares   2    
Shares withheld for restricted stock units vested (718)   (718)  
Shares withheld for restricted stock units vested, shares   (6)    
Net income 122,384     122,384
Balance at Sep. 30, 2025 $ 4,316,189 $ 1,106 $ 4,192,699 $ 122,384
Balance, shares at Sep. 30, 2025 110,552 110,552    
[1] During the three months ended March 31, 2024, June 30, 2024, and September 30, 2024, we repurchased and retired 0.1 million shares, 5.8 million shares and 0.9 million shares of our common stock for $19.6 million, $989.6 million and $159.7 million, inclusive of applicable fees and taxes, at an average price of $202.67, $170.01 and $176.73 per share, respectively.
[2] During the three months ended March 31, 2025 and June 30, 2025, we repurchased and retired 0.1 million shares and 3.3 million shares of our common stock for $12.8 million and $390.9 million, inclusive of applicable fees and taxes, at an average price of $131.51 and $118.27 per share, respectively.
[3] The amounts paid in excess of par have been allocated to additional paid-in capital upon depleting retained earnings.