v3.26.1
Shareholders' Equity
 3 Months Ended
Mar. 31, 2026
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders' Equity
a) The Company has 50,000,000 shares of no par value common stock authorized. The following table presents a rollforward of changes in common shares issued and outstanding.

Three Months Ended March 31,
(in ones)
20262025
Issued and outstanding common shares, beginning of period12,589,631 12,790,117 
Issuance of common shares5,371 2,258 
Repurchase of common shares(64,045)(89,735)
Issued and outstanding common shares, end of period12,530,957 12,702,640 

b) The Company has 10,000,000 shares of no par value preferred stock authorized, none of which were issued or outstanding at March 31, 2026 and December 31, 2025.

c) Net income (loss) per common share was determined by dividing adjusted net income (loss) to shareholders by the applicable weighted average common shares outstanding. Weighted average basic common shares outstanding include restricted stock units that are no longer subject to any contingencies for issuance, but for which corresponding shares have not been issued. Diluted net income (loss) per common share is computed by dividing adjusted net income (loss) to shareholders by the weighted average number of common shares and dilutive potential common shares outstanding during the period. The following table presents basic net income (loss) per common share and diluted net income (loss) per common share.

Three Months Ended March 31,
(in thousands, except per share amounts)20262025
Net income (loss) to shareholders$(212,289)$121,714 
Adjustment and purchase of redeemable noncontrolling interests
(26,437)33,341 
Adjusted net income (loss) to shareholders$(238,726)$155,055 
Weighted average basic common shares outstanding
12,630 12,804 
Weighted average dilutive potential common shares from restricted stock units and restricted stock (1)
— 33 
Weighted average diluted common shares outstanding
12,630 12,837 
Basic net income (loss) per common share$(18.90)$12.11 
Diluted net income (loss) per common share (1)
$(18.90)$12.08 
(1)    The impact of 39 thousand shares from restricted stock units and restricted stock awards was excluded from the computation of diluted earnings per common share for the three months ended March 31, 2026 because the effect would have been anti-dilutive.