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Earnings Per Share and Earnings Per Unit (Tables)
9 Months Ended
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)2025202420252024
Determination of shares: 
Weighted-average shares of common stock outstanding1,067,254 1,046,627 1,059,871 1,043,922 
Assumed conversion of restricted stock779 681 613 467 
Assumed settlement of forward sale agreements337 1,031 248 508 
Diluted weighted-average shares of common stock outstanding1,068,369 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)2025202420252024
Basic:
Net income attributable to common stockholders$762,040 $732,898 $2,170,726 $2,064,216 
Weighted-average shares of common stock outstanding1,067,254 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 outstanding1,068,369 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)2025202420252024
Determination of units:
Weighted-average units outstanding1,079,485 1,058,858 1,072,102 1,056,153 
Assumed conversion of VICI restricted stock779 681 613 467 
Assumed settlement of VICI forward sale agreements337 1,031 248 508 
Diluted weighted-average units outstanding1,080,601 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)2025202420252024
Basic:
Net income attributable to partners$770,281 $741,519 $2,190,024 $2,081,840 
Weighted-average units outstanding1,079,485 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 outstanding1,080,601 1,060,570 1,072,963 1,057,129 
Diluted EPU$0.71 $0.70 $2.04 $1.97