| Schedule of Earnings Per Share, Basic and Diluted |
The Company calculates basic earnings per share by dividing net income attributable to the Class A common stock holders by the weighted-average number of Class A common stock outstanding during the period. Earnings per share presented for periods prior to the completion of the Reorganization Transactions assume that the post reorganization equity structure of the Company was in place at that time. | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | Six months ended | | | | | |
June 30, 2025 |
June 30, 2024 |
June 30, 2025 | June 30, 2024 | Basic income (loss) per share | | | | | $ | 0.10 | | $ | (0.37) | | $ | (0.70) | | $ | 0.73 | | | Net income (loss) used in the calculation of basic income (loss) per share | | | | | $ | 14,500 | | $ | (45,370) | | $ | (95,441) | | $ | 84,969 | | Weighted average number of Class A common stock shares for the purposes of basic income (loss) per share | | | | | 143,103,474 | | 122,305,203 | | 135,525,464 | | 115,768,027 | |
The following table sets forth the computation of diluted earnings per share: | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | Six months ended | | | | | |
June 30, 2025 |
June 30, 2024 |
June 30, 2025 | June 30, 2024 | Diluted income (loss) per share | | | | | $ | 0.08 | | $ | (0.37) | | $ | (0.76) | | $ | 0.65 | | Net income (loss) used in the calculation of diluted income (loss) per share | | | | | $ | 30,691 | | $ | (125,596) | | $ | (264,740) | | $ | 84,969 | | Weighted average number of Class A common stock for the purposes of diluted income (loss) per share | | | | | 371,717,071 | | 338,212,221 | | 349,390,820 | | 129,910,597 | |
|
| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
In addition, the following potentially dilutive shares were excluded from the diluted earnings per share calculation as they were anti-dilutive for the periods presented. | | | | | | | | | | | | | | | | | | Three months ended | Six months ended | | | June 30, 2025 | June 30, 2024 | June 30, 2025 | June 30, 2024 | Compensatory LP units | | — | | 14,833 | | — | | — | | Exchangeable LP units | | — | | — | | — | | 215,917,746 | | | Compensatory awards | | — | | 10,543,368 | | 18,293,860 | | — | | | | | | | | | Exchangeable Notes | | 30,247,946 | | 13,346,833 | | 30,247,946 | | 13,346,833 | | Total | | 30,247,946 | | 23,905,034 | | 48,541,806 | | 229,264,579 | |
|