v3.26.1
Earnings per Share
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Earnings per Share Earnings per Share
The below table contains a reconciliation of Net income before income taxes and noncontrolling interest to Net income available for common stockholders:
 Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2026202520262025
Income before income taxes and noncontrolling interest$342,557 $347,020 $752,129 $570,756 
Provision for income taxes57,628 54,044 120,604 88,145 
Net income284,929 292,976 631,525 482,611 
Noncontrolling interest(134,030)(141,789)(298,317)(231,743)
Net income available for common stockholders$150,899 $151,187 $333,208 $250,868 
The calculation of basic and diluted earnings per share is presented below:
 Three Months Ended June 30,Six Months Ended June 30,
(in thousands, except for share or per share data)2026202520262025
Basic earnings per share:  
Net income available for common stockholders$150,899 $151,187 $333,208 $250,868 
Less: Dividends and undistributed earnings allocated to participating securities(7,768)(10,122)(18,367)(16,491)
Net income available for common stockholders, net of dividends and undistributed earnings allocated to participating securities143,131 141,065 314,841 234,377 
Weighted average shares of common stock outstanding:
Class A87,603,606 85,490,121 86,852,837 85,585,040 
Basic earnings per share$1.63 $1.65 $3.62 $2.74 
 Three Months Ended June 30,Six Months Ended June 30,
(in thousands, except for share or per share data)2026202520262025
Diluted earnings per share:  
Net income available for common stockholders, net of dividends and undistributed earnings allocated to participating securities$143,131 $141,065 $314,841 $234,377 
Weighted average shares of common stock outstanding:
Class A
Issued and outstanding87,603,606 85,490,121 86,852,837 85,585,040 
Issuable pursuant to Second Amended and Restated 2015 Management Incentive Plan— 40,305 — 209,579 
87,603,606 85,530,426 86,852,837 85,794,619 
Diluted earnings per share$1.63 $1.65 $3.62 $2.73