v3.26.1
Stock-based compensation (Tables)
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Share-Based Payment Arrangement, Restricted Stock Unit, Activity
The following represents a summary of RSUs activity for the three months ended March 31, 2026:
Time-Based RSUsWeighted Average Grant Date Fair Value per UnitPerformance-Based RSUsWeighted Average Grant Date Fair Value per Unit
Unvested as of December 31, 20252,132,006 $63.25 520,740 $64.17 
Awards granted— — 245,072 39.20 
Awards vested(18,359)52.07 (79,707)60.70 
Awards forfeited(43,355)57.62 (71,073)60.56 
Unvested as of March 31, 20262,070,292$63.46 615,032$55.87 
The following represents a summary of LTIP Units activity for the three months ended March 31, 2026:
Time-Based LTIP UnitsWeighted Average Grant Date Fair Value per UnitPerformance-Based LTIP UnitsWeighted Average Grant Date Fair Value per Unit
Unvested as of December 31, 20251,018,783 $80.20 2,242,978 $83.54 
Awards vested(8,537)58.57 — — 
Unvested as of March 31, 20261,010,246$80.39 2,242,978$83.54 
Schedule of Stock-Based Compensation Expense
The following table summarizes the Company’s stock-based compensation expense by line item in the condensed consolidated statements of operations and comprehensive income (loss):
Three Months Ended March 31,
(in millions)20262025
Cost of operations$3 $1 
General and administrative expense27 36 
Acquisition, transaction, and other expense— 3 
Total stock-based compensation expense$30 $40 
Schedule of Stock-Based Compensation Expense by Award Type
The following table summarizes the Company’s stock-based compensation expense by award type:
Three Months Ended March 31,
(in millions)20262025
Restricted Stock Units:
Time-based$15 $16 
Performance-based2 2 
LTIP Units:
Time-based9 14 
Performance-based4 8 
Total stock-based compensation expense$30 $40