Earnings Per Share |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share | 10. Earnings Per Share The Company’s unvested RSUs are deemed to be participating securities; therefore, the Company applies the two-class method for the calculation of basic earnings per share (“EPS”) for the Class A shares. Diluted EPS attributable to Class A shares is calculated under both the two-class method and the treasury stock method, and the more dilutive of the two calculations is presented. Class B shares are considered potentially dilutive of Class A shares because Class B shares are convertible into Class A shares on a one-for-one basis; therefore, the Company applies the if-converted method for the calculation of diluted EPS for the Class A shares. We determined that the presentation of EPS for the period prior to the IPO would not be meaningful due to the significant nature of the change to the Company’s capital structure as part of the IPO. Therefore, EPS information has not been presented for periods prior to the IPO. The following table sets forth the computation of basic and diluted EPS attributable to our Class A shares for the three and six months ended June 30, 2026, which represents the period subsequent to the IPO.
Weighted-average Class B shares of 74,698,422 and 77,118,342 were evaluated under the two-class method for potentially dilutive effects and were determined to be anti-dilutive for the three and six months ended June 30, 2026, respectively, and have been excluded from the computation of diluted net income per share. In addition, weighted-average RSUs of 882,690 and 885,163 were evaluated under the treasury stock method for potentially dilutive effects and were determined to be anti-dilutive for the three and six months ended June 30, 2026, respectively, and have been excluded from the computation of diluted net income per share. |
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