v3.26.1
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Class A
Class C
Total Shareholders’ Equity
Common Stock
Class A
Common Stock
Class C
Additional Paid-In Capital
Retained Earnings (Accumulated Deficit)
Noncontrolling Interest
Balance at beginning of period at Dec. 31, 2024 $ 10,518,519     $ 9,138,528 $ 71 $ 10 $ 8,056,552 $ 1,081,895 $ 1,379,991
Shares issued, beginning (in shares) at Dec. 31, 2024         707,388,000 99,600,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Restricted stock issued (in shares)         2,203,000        
Restricted stock forfeited (in shares)         (66,000)        
Stock-based compensation 16,929     16,929     16,929    
Stock option exercises (in shares)         4,000        
Stock option exercises 21     21     21    
Dividends (107,519)     (107,519)       (107,519)  
Distributions to noncontrolling interest owners (14,940)               (14,940)
Stock Issued During Period, Value, Conversion of Convertible Securities (26)     7,799     7,799   (7,825)
Conversion of common shares from Class C to Class A, net of tax (in shares)         549,000 (549,000)      
Equity impact from transactions effecting Common Units, net of tax expense 253     (880)     (880)   1,133
Net income 390,563     329,298       329,298 61,265
Shares issued, ending (in shares) at Mar. 31, 2025         710,078,000 99,051,000      
Balance at end of period at Mar. 31, 2025 10,803,800     9,384,176 $ 71 $ 10 8,080,421 1,303,674 1,419,624
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Equity impact, tax expense (benefit) 300                
Balance at beginning of period at Dec. 31, 2024 10,518,519     9,138,528 $ 71 $ 10 8,056,552 1,081,895 1,379,991
Shares issued, beginning (in shares) at Dec. 31, 2024         707,388,000 99,600,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Stock Repurchased and Retired During Period, Shares         (4,100,000)        
Stock Repurchased and Retired During Period, Value         $ (43,300)        
Net income 635,584                
Shares issued, ending (in shares) at Jun. 30, 2025         706,247,000 99,051,000      
Balance at end of period at Jun. 30, 2025 10,904,518     9,458,429 $ 71 $ 10 8,054,604 1,403,744 1,446,089
Balance at beginning of period at Mar. 31, 2025 10,803,800     9,384,176 $ 71 $ 10 8,080,421 1,303,674 1,419,624
Shares issued, beginning (in shares) at Mar. 31, 2025         710,078,000 99,051,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Restricted stock issued (in shares)         301,000        
Restricted stock forfeited (in shares)         (135,000)        
Stock Repurchased and Retired During Period, Shares         (4,120,000)        
Stock Repurchased and Retired During Period, Value (43,347)     (43,347)     (43,347)    
Performance stock vested and issued (in shares)         118,000        
Stock-based compensation 20,164     20,164     20,164    
Stock option exercises (in shares)         5,000        
Stock option exercises 38     38     38    
Dividends (107,067)     (107,067)       (107,067)  
Distributions to noncontrolling interest owners (14,857)               (14,857)
Equity impact from transactions effecting Common Units, net of tax expense 766     (2,672)     (2,672)   3,438
Net income 245,021     207,137       207,137 37,884
Shares issued, ending (in shares) at Jun. 30, 2025         706,247,000 99,051,000      
Balance at end of period at Jun. 30, 2025 10,904,518     9,458,429 $ 71 $ 10 8,054,604 1,403,744 1,446,089
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Equity impact, tax expense (benefit) 800                
Balance at beginning of period at Dec. 31, 2025 11,533,883     10,278,282 $ 76 $ 8 8,710,698 1,567,500 1,255,601
Shares issued, beginning (in shares) at Dec. 31, 2025   757,854,120 84,378,125   757,854,000 84,378,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Restricted stock issued (in shares)         61,000        
Stock-based compensation 16,202     16,202     16,202    
Stock option exercises (in shares)         80,000        
Stock option exercises 1,227     1,227     1,227    
Dividends (135,972)     (135,972)       (135,972)  
Stock Issued During Period, Value, Conversion of Convertible Securities (136,955)     1,125,589 $ 8 $ (8) 1,125,589   (1,262,544)
Conversion of common shares from Class C to Class A, net of tax (in shares)         84,378,000 (84,378,000)      
Equity impact from transactions effecting Common Units, net of tax expense 38     (131)     (131)   169
Net income 50,394     43,620       43,620 6,774
Shares issued, ending (in shares) at Mar. 31, 2026         842,373,000 0      
Balance at end of period at Mar. 31, 2026 11,328,817     11,328,817 $ 84 $ 0 9,853,585 1,475,148 0
Balance at beginning of period at Dec. 31, 2025 $ 11,533,883     10,278,282 $ 76 $ 8 8,710,698 1,567,500 1,255,601
Shares issued, beginning (in shares) at Dec. 31, 2025   757,854,120 84,378,125   757,854,000 84,378,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Stock option exercises (in shares) 118,533                
Net income $ 842,858                
Shares issued, ending (in shares) at Jun. 30, 2026   842,373,635 0   842,374,000 0      
Balance at end of period at Jun. 30, 2026 12,005,077     12,005,077 $ 84 $ 0 9,873,290 2,131,703 0
Balance at beginning of period at Mar. 31, 2026 11,328,817     11,328,817 $ 84 $ 0 9,853,585 1,475,148 0
Shares issued, beginning (in shares) at Mar. 31, 2026         842,373,000 0      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Restricted stock issued (in shares)         96,000        
Restricted stock forfeited (in shares)         116,000        
Stock-based compensation 19,321     19,321     19,321    
Stock option exercises (in shares)         21,000        
Stock option exercises 384     384     384    
Dividends (135,909)     (135,909)       (135,909)  
Net income 792,464     792,464       792,464  
Shares issued, ending (in shares) at Jun. 30, 2026   842,373,635 0   842,374,000 0      
Balance at end of period at Jun. 30, 2026 $ 12,005,077     $ 12,005,077 $ 84 $ 0 $ 9,873,290 $ 2,131,703 $ 0