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Tax Receivable Agreements
3 Months Ended
Mar. 31, 2026
Tax Receivable Agreements [Abstract]  
Tax Receivable Agreements
Note 14 - Tax Receivable Agreements
For information related to our TRAs, refer to Note 15 - Tax Receivable Agreements in our 2025 Form 10-K.
As of March 31, 2026 and December 31, 2025, the Company had a liability of $2,730.4 million and $2,731.9 million, respectively, related to its projected obligations under the TRAs.
During the three months ended March 31, 2026 and 2025, we recognized a TRA measurement gain of $1.4 million and a TRA measurement loss of $1.2 million, respectively, within Other loss, net on our Consolidated Statements of Operations. TRA remeasurement gain or loss is principally due to revaluation for the blended state tax rate.
No payments were made to TRA holders pursuant to the TRA during the three months ended March 31, 2026 and 2025.