v3.26.1
CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT) (UNAUDITED) - USD ($)
$ in Millions
Total
Class A Shares
Limited Partner
Class A Shares
Noncontrolling Interest
Balance, beginning of period at Dec. 31, 2024 $ 465.3   $ 530.7 $ (65.4)
Net income 161.4   71.6 89.8
Equity-based compensation 0.3   0.3  
Distributions to unitholders (151.1)   (73.0) (78.1)
Deferred tax asset 137.8   137.8  
Sale of shares held by Sponsors     (16.9) 16.9
Share and unit repurchases (100.0)   (48.8) (51.2)
Transaction costs (0.8)   (0.4) (0.4)
Balance, end of period at Mar. 31, 2025 512.9   601.3 (88.4)
Balance, beginning of period at Dec. 31, 2024 465.3   530.7 (65.4)
Net income 341.1      
Deferred tax asset   $ 306.7    
Balance, end of period at Jun. 30, 2025 507.6   635.0 (127.4)
Balance, beginning of period at Mar. 31, 2025 512.9   601.3 (88.4)
Net income 179.7   90.3 89.4
Equity-based compensation 0.3   0.3  
Distributions to unitholders (153.0)   (82.9) (70.1)
Deferred tax asset 168.9   168.9  
Sale of shares held by Sponsors     (28.0) 28.0
Share and unit repurchases (200.0)   (114.2) (85.8)
Transaction costs (1.2)   (0.7) (0.5)
Balance, end of period at Jun. 30, 2025 507.6   635.0 (127.4)
Balance, beginning of period at Dec. 31, 2025 437.9   568.3 (130.4)
Net income 157.7   87.6 70.1
Equity-based compensation 0.2   0.2  
Distributions to unitholders (158.7)   (98.9) (59.8)
Deferred tax asset (1.1)   (1.1)  
Share and unit repurchases (60.0)   (37.2) (22.8)
Transaction costs [1] (1.2)   (0.9) (0.3)
Balance, end of period at Mar. 31, 2026 374.8   518.0 (143.2)
Balance, beginning of period at Dec. 31, 2025 437.9   568.3 (130.4)
Net income 331.4      
Deferred tax asset   $ 1.1    
Balance, end of period at Jun. 30, 2026 388.0   514.6 (126.6)
Balance, beginning of period at Mar. 31, 2026 374.8   518.0 (143.2)
Net income 173.7   96.4 77.3
Equity-based compensation 0.1   0.1  
Distributions to unitholders (160.6)   (99.9) (60.7)
Balance, end of period at Jun. 30, 2026 $ 388.0   $ 514.6 $ (126.6)
[1] Includes excise tax on Class A Share repurchases.