XML 37 R27.htm IDEA: XBRL DOCUMENT v3.25.3
Dividends/Distributions
9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Dividends/Distributions Dividends/Distributions
During the three months ended September 30, 2025 and 2024, the Company declared and paid cash distributions to Class A and Class B common stock shareholders in an aggregate amount of $157,335 or $1.55 per share and $143,491 or $1.40 per share, respectively. During the nine months ended September 30, 2025 and 2024, the Company declared and paid cash distributions to Class A and Class B common stock shareholders in an aggregate amount of $473,467 or $4.65 per share and $409,635 or $4.00 per share, respectively. The amount, timing and frequency of future distributions will be at the sole discretion of the Board of Directors and will be declared based upon various factors, a number of which may be beyond the Company’s control, including financial condition and operating cash flows, the amount required to maintain REIT status and reduce any income and excise taxes that the Company otherwise would be required to pay, limitations on distributions in our existing and future debt instruments, the Company’s ability to utilize net operating losses to offset, in whole or in part, the Company’s distribution requirements, limitations on its ability to fund distributions using cash generated through its taxable REIT subsidiaries (TRSs), the impact of general economic conditions on the Company’s operations and other factors that the Board of Directors may deem relevant. During the three and nine months ended September 30, 2025 and 2024, the Company paid cash dividend distributions to holders of its Series AA Preferred Stock in an aggregate amount of $91 or $15.95 per share and $273 or $47.85 per share, respectively, for each period.