| Summary of Basic and Diluted Earnings Per Share |
Basic and diluted earnings per share for the three and six months ended June 30, 2026 and 2025 attributable to the common shares of Holdings is calculated as follows (in thousands, except per share data): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended
June 30, | | Six months ended
June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Net income (loss) from continuing operations attributable to common shares of Holdings | | $ | 64,746 | | | $ | (68,884) | | | $ | 24,116 | | | $ | (107,355) | | | Less: Effect of contribution based profit - Holding Event | | 1,701 | | | 406 | | | 2,448 | | | 587 | | | Net income (loss) from continuing operations attributable to common shares of Holdings | | $ | 63,045 | | | $ | (69,290) | | | $ | 21,668 | | | $ | (107,942) | | | | | | | | | | | | Income from discontinued operations attributable to Holdings | | $ | 1,480 | | | $ | 2,805 | | | $ | 1,637 | | | $ | 2,849 | | | Less: Effect of contribution based profit - Holding Event | | — | | | — | | | — | | | — | | | Income from discontinued operations attributable to common shares of Holdings | | $ | 1,480 | | | $ | 2,805 | | | $ | 1,637 | | | $ | 2,849 | | | | | | | | | | | | Basic and diluted weighted average common shares outstanding | | 75,236 | | | 75,236 | | | 75,236 | | | 75,236 | | | | | | | | | | | | Basic and diluted income (loss) per common share attributable to Holdings | | | | | | | | | | Continuing operations | | $ | 0.84 | | | $ | (0.92) | | | $ | 0.29 | | | $ | (1.43) | | | Discontinued operations | | 0.02 | | | 0.04 | | | 0.02 | | | 0.04 | | | | $ | 0.86 | | | $ | (0.88) | | | $ | 0.31 | | | $ | (1.39) | |
Distributions On May 27, 2025, the Company announced that it suspended the quarterly cash distribution historically paid to common shareholders. No common distributions were paid subsequent to April 24, 2025. The following table summarizes information related to our quarterly cash distributions on our Trust common and preferred shares (in thousands, except per share data): | | | | | | | | | | | | | | | | | | | | | | | | | | | | Period | | Cash Distribution per Share | | Total Cash Distributions | | Record Date | | Payment Date | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Trust Common Shares: | | | | | | | | | | January 1, 2025 - March 31, 2025 | | $ | 0.25 | | | $ | 18,809 | | | April 17, 2025 | | April 24, 2025 | | | | | | | | | | | Series A Preferred Shares: | | | | | | | | | April 30, 2026 - July 29, 2026 (1) | | $ | 0.453125 | | | $ | 2,120 | | | July 15, 2026 | | July 30, 2026 | | January 30, 2026 - April 29, 2026 | | $ | 0.453125 | | | $ | 2,120 | | | April 15, 2026 | | April 30, 2026 | | October 30, 2025 - January 29, 2026 | | $ | 0.453125 | | | $ | 2,120 | | | January 15, 2026 | | January 30, 2026 | | July 30, 2025 - October 29, 2025 | | $ | 0.453125 | | | $ | 2,120 | | | October 15, 2025 | | October 30, 2025 | | April 30, 2025 - July 29, 2025 | | $ | 0.453125 | | | $ | 2,120 | | | July 15, 2025 | | July 30, 2025 | | January 30, 2025 - April 29, 2025 | | $ | 0.453125 | | | $ | 2,120 | | | April 15, 2025 | | April 30, 2025 | | October 30, 2024 - January 29, 2025 | | $ | 0.453125 | | | $ | 2,062 | | | January 15, 2025 | | January 30, 2025 | | | | | | | | | | | Series B Preferred Shares: | | | | | | | | | April 30, 2026 - July 29, 2026 (1) | | $ | 0.4921875 | | | $ | 3,703 | | | July 15, 2026 | | July 30, 2026 | | January 30, 2026 - April 29, 2026 | | $ | 0.4921875 | | | $ | 3,703 | | | April 15, 2026 | | April 30, 2026 | | October 30, 2025 - January 29, 2026 | | $ | 0.4921875 | | | $ | 3,703 | | | January 15, 2026 | | January 30, 2026 | | July 30, 2025 - October 29, 2025 | | $ | 0.4921875 | | | $ | 3,703 | | | October 15, 2025 | | October 30, 2025 | | April 30, 2025 - July 29, 2025 | | $ | 0.4921875 | | | $ | 3,703 | | | July 15, 2025 | | July 30, 2025 | | January 30, 2025 - April 29, 2025 | | $ | 0.4921875 | | | $ | 3,703 | | | April 15, 2025 | | April 30, 2025 | | October 30, 2024 - January 29, 2025 | | $ | 0.4921875 | | | $ | 3,048 | | | January 15, 2025 | | January 30, 2025 | | | | | | | | | | | Series C Preferred Shares: | | | | | | | | | April 30, 2026 - July 29, 2026 (1) | | $ | 0.4921875 | | | $ | 3,892 | | | July 15, 2026 | | July 30, 2026 | | January 30, 2026 - April 29, 2026 | | $ | 0.4921875 | | | $ | 3,892 | | | April 15, 2026 | | April 30, 2026 | | October 30, 2025 - January 29, 2026 | | $ | 0.4921875 | | | $ | 3,892 | | | January 15, 2026 | | January 30, 2026 | | July 30, 2025 - October 29, 2025 | | $ | 0.4921875 | | | $ | 3,892 | | | October 15, 2025 | | October 30, 2025 | | April 30, 2025 - July 29, 2025 | | $ | 0.4921875 | | | $ | 3,892 | | | July 15, 2025 | | July 30, 2025 | | January 30, 2025 - April 29, 2025 | | $ | 0.4921875 | | | $ | 3,892 | | | April 15, 2025 | | April 30, 2025 | | October 30, 2024 - January 29, 2025 | | $ | 0.4921875 | | | $ | 3,324 | | | January 15, 2025 | | January 30, 2025 |
(1) This distribution was declared on July 1, 2026.
|