v3.25.2
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)
$ in Thousands
Total
Common Stock
Class A Common Stock
Common Stock
Class B Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Non- controlling Interests
Beginning balance (in shares) at Dec. 31, 2023   118,593,062 141,621,188        
Beginning balance at Dec. 31, 2023 $ 979,644 $ 119 $ 142 $ 441,997 $ 114,420 $ 3,076 $ 419,890
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 40,677       16,535   24,142
Issuance of common stock (shares)   9,449          
Exchange of LLC equity for common stock (in shares)   134,959 (134,959)        
Exchange of LLC equity for common stock 0     240     (240)
Class A common stock dividends and Dividend Equivalents (42,418)       (42,418)    
Distributions and Declared Distributions to non-controlling LLC Unitholders (5,766)           (5,766)
Tax Receivable Agreement liability and deferred taxes arising from LLC interest ownership changes (78)     (78)      
Distributions declared for non-controlling interest holders’ tax (22,177)           (22,177)
Change in share of equity method investments’ other comprehensive income 3,780         1,510 2,270
Gain (loss) on interest rate cap, net 4,805         1,918 2,887
Foreign currency translation adjustments (1,024)         (408) (616)
Equity-based compensation 17,310     17,297     13
Ending balance (in shares) at Mar. 31, 2024   118,737,470 141,486,229        
Ending balance at Mar. 31, 2024 974,753 $ 119 $ 142 459,456 88,537 6,096 420,403
Beginning balance (in shares) at Dec. 31, 2023   118,593,062 141,621,188        
Beginning balance at Dec. 31, 2023 979,644 $ 119 $ 142 441,997 114,420 3,076 419,890
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 158,715            
Ending balance (in shares) at Jun. 30, 2024   119,339,130 141,164,071        
Ending balance at Jun. 30, 2024 1,073,236 $ 119 $ 142 478,130 121,560 5,903 467,382
Beginning balance (in shares) at Mar. 31, 2024   118,737,470 141,486,229        
Beginning balance at Mar. 31, 2024 974,753 $ 119 $ 142 459,456 88,537 6,096 420,403
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 118,038       46,787   71,251
Issuance of common stock (shares)   270,510 8,992        
Issuance of common stock 2,168     989     1,179
Exchange of LLC equity for common stock (in shares)   331,150 (331,150)        
Exchange of LLC equity for common stock 0     598     (598)
Equity awards withheld for settlement of employee tax obligations (284)           (284)
Class A common stock dividends and Dividend Equivalents (13,764)       (13,764)    
Distributions and Declared Distributions to non-controlling LLC Unitholders (5,758)           (5,758)
Tax Receivable Agreement liability and deferred taxes arising from LLC interest ownership changes 508     709     (201)
Distributions declared for non-controlling interest holders’ tax (22,829)           (22,829)
Change in share of equity method investments’ other comprehensive income (940)         (376) (564)
Gain (loss) on interest rate cap, net (1,860)         (744) (1,116)
Foreign currency translation adjustments 2,309         927 1,382
Equity-based compensation 20,895     16,378     4,517
Ending balance (in shares) at Jun. 30, 2024   119,339,130 141,164,071        
Ending balance at Jun. 30, 2024 1,073,236 $ 119 $ 142 478,130 121,560 5,903 467,382
Beginning balance (in shares) at Dec. 31, 2024   125,411,089 136,456,313        
Beginning balance at Dec. 31, 2024 1,098,285 $ 125 $ 136 506,258 122,939 (1,796) 470,623
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (4,389)       (27,642)   23,253
Issuance of common stock (shares)   81,137          
Exchange of LLC equity for common stock (in shares)   540,663 (498,664)        
Exchange of LLC equity for common stock 0 $ 1   803     (804)
Class A common stock dividends and Dividend Equivalents (15,959)       (15,959)    
Distributions and Declared Distributions to non-controlling LLC Unitholders (6,925)           (6,925)
Tax Receivable Agreement liability and deferred taxes arising from LLC interest ownership changes (38,847)     (68,593)     29,746
Distributions declared for non-controlling interest holders’ tax (8,443)           (8,443)
Change in share of equity method investments’ other comprehensive income (2,909)         (1,315) (1,594)
Gain (loss) on interest rate cap, net (2,005)         (898) (1,107)
Foreign currency translation adjustments 18,632         8,481 10,151
Equity-based compensation 19,873     19,978     (105)
Ending balance (in shares) at Mar. 31, 2025   126,032,889 135,957,649        
Ending balance at Mar. 31, 2025 1,057,313 $ 126 $ 136 458,446 79,338 4,472 514,795
Beginning balance (in shares) at Dec. 31, 2024   125,411,089 136,456,313        
Beginning balance at Dec. 31, 2024 1,098,285 $ 125 $ 136 506,258 122,939 (1,796) 470,623
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 120,316            
Ending balance (in shares) at Jun. 30, 2025   127,108,155 135,408,269        
Ending balance at Jun. 30, 2025 1,182,149 $ 127 $ 135 479,117 115,352 15,355 572,063
Beginning balance (in shares) at Mar. 31, 2025   126,032,889 135,957,649        
Beginning balance at Mar. 31, 2025 1,057,313 $ 126 $ 136 458,446 79,338 4,472 514,795
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 124,705       51,976   72,729
Issuance of common stock (shares)   432,507 1,437        
Exchange of LLC equity for common stock (in shares)   643,992 (550,817)        
Exchange of LLC equity for common stock 0 $ 1 $ (1) 1,112     (1,112)
Forfeiture of common stock (in shares)   (1,233)          
Equity awards withheld for settlement of employee tax obligations (664)     (214)     (450)
Class A common stock dividends and Dividend Equivalents (15,962)       (15,962)    
Distributions and Declared Distributions to non-controlling LLC Unitholders (6,907)           (6,907)
Tax Receivable Agreement liability and deferred taxes arising from LLC interest ownership changes 1,297     1,297      
Distributions declared for non-controlling interest holders’ tax (25,905)           (25,905)
Change in share of equity method investments’ other comprehensive income 1,575         776 799
Gain (loss) on interest rate cap, net (1,011)         (329) (682)
Foreign currency translation adjustments 27,783         10,436 17,347
Equity-based compensation 19,925     18,476     1,449
Ending balance (in shares) at Jun. 30, 2025   127,108,155 135,408,269        
Ending balance at Jun. 30, 2025 $ 1,182,149 $ 127 $ 135 $ 479,117 $ 115,352 $ 15,355 $ 572,063