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Earnings Per Share (Tables) | 9 Months Ended
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Sep. 30, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] |
Schedule of Earnings Per Share, Basic and Diluted | The following table reflects the EPS computations for the periods indicated based on a weighted average number of Class A Common Stock outstanding each period:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands, except per share data) | 2024 |  | 2023 |  | 2024 |  | 2023
Net income attributable to Class A Common Stock | $ | 386,376 |  |  | $ | 45,433 |  |  | $ | 768,051 |  |  | $ | 220,952 |
Add: Interest on Convertible Senior Notes, net of tax | 1,305 |  |  | 1,374 |  |  | 3,887 |  |  | 4,116 |
Adjusted net income (attributable to Class A Common Stock) | $ | 387,681 |  |  | $ | 46,807 |  |  | $ | 771,938 |  |  | $ | 225,068 |
Basic weighted average shares of Class A Common Stock outstanding | 693,692 |  |  | 324,650 |  |  | 619,741 |  |  | 312,015 |
Add: Dilutive effects of Convertible Senior Notes | 29,117 |  |  | 27,829 |  |  | 29,117 |  |  | 27,583 |
Add: Dilutive effects of equity awards | 13,430 |  |  | 13,695 |  |  | 14,457 |  |  | 11,819 |
Diluted weighted average shares of Class A Common Stock outstanding | 736,239 |  |  | 366,174 |  |  | 663,315 |  |  | 351,417 |
Basic net earnings per share of Class A Common Stock | $ | 0.56 |  |  | $ | 0.14 |  |  | $ | 1.24 |  |  | $ | 0.71 |
Diluted net earnings per share of Class A Common Stock | $ | 0.53 |  |  | $ | 0.13 |  |  | $ | 1.16 |  |  | $ | 0.64 |
Schedule of Shares Excluded from Diluted Earnings Per Share Calculation | The following table presents shares excluded from the diluted earnings per share calculation for the periods presented as their impact was anti-dilutive:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Out-of-the-money stock options | 436 |  |  | 1,022 |  |  | 482 |  |  | 1,451 |
Weighted average shares of Class C Common Stock | 100,670 |  |  | 241,340 |  |  | 159,396 |  |  | 250,018 |
Restricted stock | 325 |  |  | — |  |  | 182 |  |  | 69 |
Performance stock units | 831 |  |  | — |  |  | 277 |  |  | 39 |

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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