v3.26.1
Consolidated Statements of Stockholders' Equity (Deficit) (unaudited) - USD ($)
shares in Thousands, $ in Millions
Total
Class A Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2024   141,208      
Beginning balance at Dec. 31, 2024 $ 692.1 $ 0.1 $ 2,611.8 $ (2,052.3) $ 132.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 219.5     219.5  
Equity-based compensation, including amounts capitalized 80.9   80.9    
Repurchases of Class A common stock [1],[2] (765.1)     (765.1)  
Impact of derivatives, net (30.7)       (30.7)
Change in foreign currency translation adjustment 0.8       0.8
Vesting of restricted stock units and other (in shares)   1,223      
Vesting of restricted stock units and other 2.2   2.3 (0.1)  
Ending balance (in shares) at Mar. 31, 2025   142,431      
Ending balance at Mar. 31, 2025 199.7 $ 0.1 2,695.0 (2,598.0) 102.6
Beginning balance (in shares) at Dec. 31, 2024   141,208      
Beginning balance at Dec. 31, 2024 692.1 $ 0.1 2,611.8 (2,052.3) 132.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 419.4        
Ending balance (in shares) at Jun. 30, 2025   138,863      
Ending balance at Jun. 30, 2025 404.4 $ 0.1 2,799.8 (2,431.2) 35.7
Beginning balance (in shares) at Mar. 31, 2025   142,431      
Beginning balance at Mar. 31, 2025 199.7 $ 0.1 2,695.0 (2,598.0) 102.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 199.9     199.9  
Equity-based compensation, including amounts capitalized 81.6   81.6    
Repurchases of Class A common stock (in shares) [2]   (4,510)      
Repurchases of Class A common stock [2] (33.2)     (33.2)  
Issuance of Class A common stock under employee stock purchase plan (in shares)   124      
Issuance of Class A common stock under employee stock purchase plan 19.2   19.2    
Impact of derivatives, net (55.1)       (55.1)
Change in foreign currency translation adjustment (11.8)       (11.8)
Vesting of restricted stock units and other (in shares)   818      
Vesting of restricted stock units and other 4.1   4.0 0.1  
Ending balance (in shares) at Jun. 30, 2025   138,863      
Ending balance at Jun. 30, 2025 $ 404.4 $ 0.1 2,799.8 (2,431.2) 35.7
Beginning balance (in shares) at Dec. 31, 2025 134,737 134,737      
Beginning balance at Dec. 31, 2025 $ 215.1 $ 0.1 2,975.2 (2,789.4) 29.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 214.6     214.6  
Equity-based compensation, including amounts capitalized 75.9   75.9    
Repurchases of Class A common stock (in shares) [3]   (2,952)      
Repurchases of Class A common stock [3] (281.7)     (281.7)  
Impact of derivatives, net 10.2       10.2
Change in foreign currency translation adjustment 0.9       0.9
Vesting of restricted stock units and other (in shares)   873      
Vesting of restricted stock units and other 2.3   2.3    
Ending balance (in shares) at Mar. 31, 2026   132,658      
Ending balance at Mar. 31, 2026 $ 237.3 $ 0.1 3,053.4 (2,856.5) 40.3
Beginning balance (in shares) at Dec. 31, 2025 134,737 134,737      
Beginning balance at Dec. 31, 2025 $ 215.1 $ 0.1 2,975.2 (2,789.4) 29.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income $ 454.7        
Ending balance (in shares) at Jun. 30, 2026 126,834 126,834      
Ending balance at Jun. 30, 2026 $ 6.7 $ 0.1 3,141.3 (3,175.0) 40.3
Beginning balance (in shares) at Mar. 31, 2026   132,658      
Beginning balance at Mar. 31, 2026 237.3 $ 0.1 3,053.4 (2,856.5) 40.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 240.1     240.1  
Equity-based compensation, including amounts capitalized 70.8   70.8    
Repurchases of Class A common stock (in shares) [3]   (6,607)      
Repurchases of Class A common stock [3] (558.6)     (558.6)  
Issuance of Class A common stock under employee stock purchase plan (in shares)   227      
Issuance of Class A common stock under employee stock purchase plan 16.8   16.8    
Impact of derivatives, net (2.9)       (2.9)
Change in foreign currency translation adjustment 2.9       2.9
Vesting of restricted stock units and other (in shares)   556      
Vesting of restricted stock units and other $ 0.3   0.3    
Ending balance (in shares) at Jun. 30, 2026 126,834 126,834      
Ending balance at Jun. 30, 2026 $ 6.7 $ 0.1 $ 3,141.3 $ (3,175.0) $ 40.3
[1] Includes $767.4 million of upfront payments to repurchase shares of our Class A common stock in conjunction with two accelerated share repurchase agreements (ASRs).
[2] Includes a 1% excise tax expense (benefit) on shares repurchased, net of the fair market value of new share issuances, of $(2.3) million and $6.3 million for the three months ended March 31, 2025 and June 30, 2025, respectively.
[3] Includes a 1% excise tax expense (benefit) on shares repurchased, net of the fair market value of new share issuances, of $2.0 million and $4.8 million for the three months ended March 31, 2026 and June 30, 2026, respectively.