v3.25.2
Earnings per Share (Tables)
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Schedule of Reconciliation of Net Income Before Noncontrolling Interest to Net Income Available for Common Stockholders
The below table contains a reconciliation of Net income before income taxes and noncontrolling interest to Net income available for common stockholders:
 Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2025202420252024
Income before income taxes and noncontrolling interest$347,020 $155,385 $570,756 $295,205 
Provision for income taxes54,044 27,268 88,145 55,780 
Net income292,976 128,117 482,611 239,425 
Noncontrolling interest(141,789)(61,531)(231,743)(117,022)
Net income available for common stockholders$151,187 $66,586 $250,868 $122,403 
Schedule of Basic Earnings Per Share
The calculation of basic and diluted earnings per share is presented below:
 Three Months Ended June 30,Six Months Ended June 30,
(in thousands, except for share or per share data)2025202420252024
Basic earnings per share:  
Net income available for common stockholders$151,187 $66,586 $250,868 $122,403 
Less: Dividends and undistributed earnings allocated to participating securities(10,122)(3,760)(16,491)(6,833)
Net income available for common stockholders, net of dividends and undistributed earnings allocated to participating securities141,065 62,826 234,377 115,570 
Weighted average shares of common stock outstanding:
Class A85,490,121 88,137,799 85,585,040 88,568,461 
Basic earnings per share$1.65 $0.71 $2.74 $1.30 
Schedule of Diluted Earnings Per Share
 Three Months Ended June 30,Six Months Ended June 30,
(in thousands, except for share or per share data)2025202420252024
Diluted earnings per share:  
Net income available for common stockholders, net of dividends and undistributed earnings allocated to participating securities$141,065 $62,826 $234,377 $115,570 
Weighted average shares of common stock outstanding:
Class A
Issued and outstanding85,490,121 88,137,799 85,585,040 88,568,461 
Issuable pursuant to Second Amended and Restated 2015 Management Incentive Plan40,305 220,424 209,579 102,868 
85,530,426 88,358,223 85,794,619 88,671,329 
Diluted earnings per share$1.65 $0.71 $2.73 $1.30