v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CAPITAL - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning balance $ 2,307,591 $ 2,214,828 $ 2,318,441 $ 2,155,097
Net income 28,961 [1]   23,385 [2]  
Net income 29,934 8,576 24,964 69,162
Share-based compensation 2,048 1,719 3,872 2,934
Reacquisition of share-based compensation awards for tax-withholding purposes (448)   (6,541) (1,776)
Other comprehensive income—net of tax 5 9 13 21
Adjustment to liability recognized under tax receivable agreement - net of tax 319   (694) (306)
Adjustment of noncontrolling interest in the Operating Company 0 0 0 0
Ending balance 2,335,385 2,225,132 2,335,385 2,225,132
Total Members’ Capital        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning balance 842,049 774,334 843,245 749,436
Net income 10,861 [1]   8,634 [2]  
Net income   3,320   26,604
Share-based compensation 2,048 1,719 3,872 2,934
Reacquisition of share-based compensation awards for tax-withholding purposes (448)   (6,541) (1,776)
Other comprehensive income—net of tax 2 5 8 12
Adjustment to liability recognized under tax receivable agreement - net of tax 319   (694) (306)
Adjustment of noncontrolling interest in the Operating Company (2,745) 14 3,562 2,488
Ending balance 848,995 779,392 848,995 779,392
Contributed Capital        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning balance 617,784 595,437 616,751 593,827
Share-based compensation 2,048 1,719 3,872 2,934
Reacquisition of share-based compensation awards for tax-withholding purposes (448)   (6,541) (1,776)
Adjustment to liability recognized under tax receivable agreement - net of tax 319   (694) (306)
Adjustment of noncontrolling interest in the Operating Company (2,749) 14 3,566 2,491
Ending balance 613,863 597,170 613,863 597,170
Retained Earnings        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning balance 225,816 180,361 228,043 157,077
Net income 10,861 [1]   8,634 [2]  
Net income   3,320   26,604
Ending balance 236,677 183,681 236,677 183,681
Accumulated Other Comprehensive Loss        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning balance (1,551) (1,464) (1,549) (1,468)
Other comprehensive income—net of tax 2 5 8 12
Adjustment of noncontrolling interest in the Operating Company 4   (4) (3)
Ending balance (1,545) (1,459) (1,545) (1,459)
Noncontrolling Interests        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning balance 1,465,542 1,440,494 1,475,196 1,405,661
Net income 18,100 [1]   14,751 [2]  
Net income   5,256   42,558
Other comprehensive income—net of tax 3 4 5 9
Adjustment of noncontrolling interest in the Operating Company 2,745 (14) (3,562) (2,488)
Ending balance 1,486,390 $ 1,445,740 1,486,390 $ 1,445,740
Class A Common Shares        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Repurchases of Class A common shares (3,091)   (3,091)  
Class A Common Shares | Total Members’ Capital        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Repurchases of Class A common shares $ (3,091)   $ (3,091)  
Class A Common Shares | Common Stock        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning balance (in shares) 72,320,181 69,858,638 71,100,768 69,369,234
Reacquisition of share-based compensation awards for tax-withholding purposes (in shares) (89,608)   (1,238,730) (329,840)
Issuance of share-based compensation awards (in shares)   2,697   129,085
Settlement of restricted share units for Class A common shares (in shares) 176,113   2,544,648 692,856
Repurchases of Class A common shares (in shares) (623,432)   (623,432)  
Ending balance (in shares) 71,783,254 69,861,335 71,783,254 69,861,335
Class A Common Shares | Contributed Capital        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Repurchases of Class A common shares $ (3,091)   $ (3,091)  
Class B Common Shares | Common Stock        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning balance (in shares) 76,096,410 79,233,544 76,096,410 79,233,544
Ending balance (in shares) 76,096,410 79,233,544 76,096,410 79,233,544
[1] Total net income excludes net income of $1.0 million attributable to redeemable noncontrolling interests (see Note 6).
[2] Total net income excludes net income of $1.6 million attributable to redeemable noncontrolling interests (see Note 6).