Will Ferrell is a dad for the third time. The star and his wife, Viveca Paulin, welcomed their third son, Axel, on Saturday — just hours after Will appeared as the final guest on The Tonight Show with Conan O’Brien.

Axel joins older brothers Magnus, 5, and Mattias, who is 3.

Ferrell, 42, and Paulin, 40, met in an acting class in 1995. They married five years later.

“All the Ferrells are doing well,” a rep for the couple told PEOPLE.