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Earnings Per Share and Earnings Per Unit (Tables) | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Schedule of Weighted Average Earnings Per Share | The following tables reconcile the weighted-average shares of common stock outstanding used in the calculation of basic earnings per share to the weighted-average shares of common stock outstanding used in the calculation of diluted earnings per share:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Determination of shares: |  |  |  |  |  |  |
Weighted-average shares of common stock outstanding | 1,067,254 |  |  | 1,046,627 |  |  | 1,059,871 |  |  | 1,043,922 |
Assumed conversion of restricted stock | 779 |  |  | 681 |  |  | 613 |  |  | 467 |
Assumed settlement of forward sale agreements | 337 |  |  | 1,031 |  |  | 248 |  |  | 508 |
Diluted weighted-average shares of common stock outstanding | 1,068,369 |  |  | 1,048,338 |  |  | 1,060,732 |  |  | 1,044,897 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands, except per share data) | 2025 |  | 2024 |  | 2025 |  | 2024
Basic: |  |  |  |  |  |  |
Net income attributable to common stockholders | $ | 762,040 |  |  | $ | 732,898 |  |  | $ | 2,170,726 |  |  | $ | 2,064,216 |
Weighted-average shares of common stock outstanding | 1,067,254 |  |  | 1,046,627 |  |  | 1,059,871 |  |  | 1,043,922 |
Basic EPS | $ | 0.71 |  |  | $ | 0.70 |  |  | $ | 2.05 |  |  | $ | 1.98 |
Diluted: |  |  |  |  |  |  |
Net income attributable to common stockholders | $ | 762,040 |  |  | $ | 732,898 |  |  | $ | 2,170,726 |  |  | $ | 2,064,216 |
Diluted weighted-average shares of common stock outstanding | 1,068,369 |  |  | 1,048,338 |  |  | 1,060,732 |  |  | 1,044,897 |
Diluted EPS | $ | 0.71 |  |  | $ | 0.70 |  |  | $ | 2.05 |  |  | $ | 1.98 |
The following tables reconcile the weighted-average units outstanding used in the calculation of basic EPU to the weighted-average units outstanding used in the calculation of diluted EPU:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Determination of units: |  |  |  |  |  |  |
Weighted-average units outstanding | 1,079,485 |  |  | 1,058,858 |  |  | 1,072,102 |  |  | 1,056,153 |
Assumed conversion of VICI restricted stock | 779 |  |  | 681 |  |  | 613 |  |  | 467 |
Assumed settlement of VICI forward sale agreements | 337 |  |  | 1,031 |  |  | 248 |  |  | 508 |
Diluted weighted-average units outstanding | 1,080,601 |  |  | 1,060,570 |  |  | 1,072,963 |  |  | 1,057,129 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands, except per unit data) | 2025 |  | 2024 |  | 2025 |  | 2024
Basic: |  |  |  |  |  |  |
Net income attributable to partners | $ | 770,281 |  |  | $ | 741,519 |  |  | $ | 2,190,024 |  |  | $ | 2,081,840 |
Weighted-average units outstanding | 1,079,485 |  |  | 1,058,858 |  |  | 1,072,102 |  |  | 1,056,153 |
Basic EPU | $ | 0.71 |  |  | $ | 0.70 |  |  | $ | 2.04 |  |  | $ | 1.97 |
Diluted: |  |  |  |  |  |  |
Net income attributable to partners | $ | 770,281 |  |  | $ | 741,519 |  |  | $ | 2,190,024 |  |  | $ | 2,081,840 |
Weighted-average units outstanding | 1,080,601 |  |  | 1,060,570 |  |  | 1,072,963 |  |  | 1,057,129 |
Diluted EPU | $ | 0.71 |  |  | $ | 0.70 |  |  | $ | 2.04 |  |  | $ | 1.97 |

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- Definition Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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