v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($)
$ in Thousands
Total
Ridgemar Acquisition
Class A Common Stock
Common Stock
Class A Common Stock
Common Stock
Class A Common Stock
Ridgemar Acquisition
Common Stock
Class B Common Stock
Series I Preferred Stock
Treasury Stock
Additional Paid-in Capital
Additional Paid-in Capital
Ridgemar Acquisition
Retained Earnings (Accumulated Deficit)
Noncontrolling Interest
Common Stock, Beginning balance (in shares) at Dec. 31, 2024       187,071,000   65,948,000            
Preferred Stock, Beginning balance (in shares) at Dec. 31, 2024             1,000          
Treasury Stock, Beginning balance (in shares) at Dec. 31, 2024               2,434,000        
Balance at beginning of period at Dec. 31, 2024 $ 3,139,631     $ 19   $ 7 $ 0 $ (32,430) $ 3,227,450   $ (64,751) $ 9,336
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) (161)                   (2,150) 1,989
Distributions (1,756)                     (1,756)
Dividends 23,457               23,457      
Equity-based compensation 19,591               19,398     193
Change in deferred taxes related to basis in OpCo 5,474               5,474      
Change in equity associated with the 2025 Class A Redemption (in shares)       2,949,000   (2,949,000)            
Change in equity associated with the 2025 Class A Redemption 34,096               34,096      
Changes in equity associated with the Ridgemar Acquisition (in shares)         5,455,000              
Changes in equity associated with the Ridgemar Acquisition   $ 108,049     $ 1         $ 108,048    
Repurchases of Class A common stock (in shares)       (503,000)       (503,000)        
Repurchases of Class A common stock (5,312)             $ (5,312)        
Common Stock, Ending balance (in shares) at Mar. 31, 2025       194,972,000   62,999,000            
Preferred Stock, Ending balance (in shares) at Mar. 31, 2025             1,000          
Treasury Stock, Ending balance (in shares) at Mar. 31, 2025               2,937,000        
Balance at end of period at Mar. 31, 2025 $ 3,265,207     $ 20   $ 7 $ 0 $ (37,742) 3,360,061   (66,901) 9,762
Common Stock, Beginning balance (in shares) at Dec. 31, 2025     327,900,272 327,900,000   0            
Preferred Stock, Beginning balance (in shares) at Dec. 31, 2025 1,000           1,000          
Treasury Stock, Beginning balance (in shares) at Dec. 31, 2025     7,079,021         7,079,000        
Balance at beginning of period at Dec. 31, 2025 $ 5,165,435     $ 33   $ 0 $ 0 $ (71,054) 5,228,928   0 7,528
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) (419,176)                   (419,847) 671
Distributions (757)                     (757)
Dividends 39,348               39,348      
Equity-based compensation (in shares)       2,094,000       1,000        
Equity-based compensation 23,421             $ (8) 23,429      
Changes in equity associated with 2031 Convertible Notes capped call, net of tax impact (44,257)               (44,257)      
Other $ 1,129               1,129      
Common Stock, Ending balance (in shares) at Mar. 31, 2026     329,994,544 329,994,000   0            
Preferred Stock, Ending balance (in shares) at Mar. 31, 2026 1,000           1,000          
Treasury Stock, Ending balance (in shares) at Mar. 31, 2026     7,079,687         7,080,000        
Balance at end of period at Mar. 31, 2026 $ 4,686,447     $ 33   $ 0 $ 0 $ (71,062) $ 5,169,881   $ (419,847) $ 7,442