v3.26.1
CONSOLIDATED STATEMENTS EQUITY - USD ($)
$ in Thousands
Total
Tall Oak
Moonrise Acquisition
Additional Paid in Capital
Additional Paid in Capital
Tall Oak
Additional Paid in Capital
Moonrise Acquisition
Retained Earnings (Deficit)
Non-controlling interest
Non-controlling interest
Tall Oak
Series A Preferred Units and Stock
Series A Preferred Units and Stock
Series A Preferred Stock
Common Class A
Common Stock
Common Class A
Common Stock
Moonrise Acquisition
Common Class B
Common Stock
Common Class B
Common Stock
Tall Oak
Partners’ Capital (Before Corporate Reorganization)
Partners’ Capital (Before Corporate Reorganization)
Series A Preferred Units and Stock
Beginning balance at Dec. 31, 2022 $ 764,818     $ 0     $ 0 $ 0     $ 0 $ 0   $ 0   $ 679,491 $ 85,327
Partners' Capital                                  
Net income (loss) (51,528)                             (63,094) 11,566
Equity compensation 6,566                             6,566  
Tax withholdings and associated payments on vested Summit LTIP awards (1,293)                             (1,293)  
Ending balance at Dec. 31, 2023 718,563     0     0 0     0 0   0   621,670 96,893
Equity                                  
Net income (loss) (51,528)                             (63,094) 11,566
Tax withholdings and associated payments on vested Summit LTIP awards (1,293)                             (1,293)  
Moonrise Acquisition   $ 0 $ 0                            
Net income (loss) (127,981)           (183,333) (5,822)     5,669         47,837 7,668
Tax withholdings and associated payments on vested Summit LTIP awards (2,026)     (144)                       (1,882)  
Ending balance at Dec. 31, 2024 965,125     540,714     (183,333) 497,333     110,230 106   75   0 0
Equity                                  
Net income (loss) (127,981)           (183,333) (5,822)     5,669         47,837 7,668
Equity compensation 8,561     3,146                       5,415  
Tax withholdings and associated payments on vested Summit LTIP awards (2,026)     (144)                       (1,882)  
Corporate Reorganization 0     672,934             104,561 106       (673,040) (104,561)
Tax impact of Corporate Reorganization 32,349     32,349                          
Moonrise Acquisition   283,077 0                            
Tax impact of Up-C Structure 52,582     52,582                          
Issuance of noncontrolling interest (Tall Oak Acquisition)   283,077     $ (220,153)       $ 503,155           $ 75    
Net income (loss) (16,769)           (19,569) (10,831)     13,631            
Tax withholdings and associated payments on vested Summit LTIP awards (3,117)     (3,118)               1          
Ending balance at Dec. 31, 2025 946,556     638,427     (202,902) 400,376     110,468 122   65   $ 0 $ 0
Equity                                  
Net income (loss) (16,769)           $ (19,569) (10,831)     $ 13,631            
Dividend paid on Series A Preferred Stock (13,393)                 $ (13,393)              
Equity compensation 7,798     7,798                          
Tax withholdings and associated payments on vested Summit LTIP awards (3,117)     (3,118)               1          
Moonrise Acquisition   $ 0 $ 17,895     $ 17,890             $ 5        
Conversion of Class B Common Stock and Partnership Common Units 0                     $ 10   $ (10)      
Tax impact of Up-C Structure (10,983)     (10,983)                          
Issuance of noncontrolling interest (Tall Oak Acquisition) $ 0     $ 86,126       $ (86,126)