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EQUITY | 6 Months Ended
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Jun. 30, 2025
Equity [Abstract] |
EQUITY | EQUITY Common Stock and Class B Common Stock The Company has two classes of common stock, which comprises Common Stock and Class B Common Stock. Share Issuances During the three and six months ended June 30, 2025, shares issued resulted from the vesting of restricted stock units (“RSUs”) and stock option exercises related to fully vested share-based compensation awards as presented on the Condensed Consolidated Statements of Stockholders’ Equity. Share Repurchases 2024 Share Repurchase Plan In January 2024, the Company's Board of Directors announced a share repurchase plan (the “2024 Share Repurchase Plan”), pursuant to which the Company was authorized to repurchase, through January 29, 2025, up to a maximum aggregate amount of $350 million of shares of the Company's Common Stock. In March 2024, the Company repurchased, and subsequently retired, 15 million shares of its Common Stock under the 2024 Share Repurchase Plan for $93 million (or $6.22 per share) in connection with a secondary offering of the Company’s Common Stock by Apollo. Refer to Note 14 “Related Party Transactions” for further information. In addition, the Company entered into an agreement in December 2024 to repurchase 15 million shares of Common Stock from a non-affiliate individual at a price per share of $6.95 for a total of $104 million under the 2024 Share Repurchase Plan. The transaction settled in January 2025, and the Company retired the shares. The 2024 Share Repurchase Plan expired in January 2025 with $5 million in authorized repurchases remaining. 2025 Share Repurchase Plan In February 2025, the Company's Board of Directors announced a new share repurchase plan (the “2025 Share Repurchase Plan”), pursuant to which the Company is authorized to repurchase, through April 30, 2026, up to a maximum aggregate amount of $500 million of shares of the Company's Common Stock. The 2025 Share Repurchase Plan allows the Company to purchase Common Stock, from time to time, in one or more open market or privately negotiated transactions, including pursuant to Rule 10b5-1 or Rule 10b-18 of the Exchange Act, or pursuant to one or more accelerated share repurchase agreements, subject to certain requirements and other factors. The Company is not obligated to repurchase any of its shares of Common Stock, and the timing and amount of any repurchases will depend on legal requirements, market conditions, stock price, the availability of the safe harbor provided by Rule 10b-18 under the Exchange Act, alternative uses of capital, and other factors. In March 2025, the Company repurchased, and subsequently retired, 20 million shares of its Common Stock under the 2025 Share Repurchase Plan for $152 million (or $7.62 per share) in connection with a secondary offering of the Company’s Common Stock by Apollo. Refer to Note 14 “Related Party Transactions” for further information. Additionally, in March 2025, the Company repurchased, and subsequently retired, an additional 18 million shares in the open market pursuant to Rule 10b5-1 and Rule 10b-18 of the Exchange Act in multiple transactions for $140 million (or $7.79 per share). During the three months ended June 30, 2025, the Company repurchased, and subsequently retired, 12 million shares in the open market pursuant to Rule 10b5-1 and Rule 10b-18 of the Exchange Act under the 2025 Share Repurchase Plan in multiple transactions for a total of $96 million (or $8.14 per share). As of June 30, 2025, the Company had $112 million remaining under the 2025 Share Repurchase Plan. Subsequent event - During July 2025, the Company repurchased, and subsequently retired, 2 million shares in the open market pursuant to Rule 10b5-1 and Rule 10b-18 of the Exchange Act under the 2025 Share Repurchase Plan in multiple transactions for a total of $16 million (or $8.45 per share). As of July 22, 2025, the Company had approximately $96 million remaining under the 2025 Share Repurchase Plan. Dividends
(in thousands, except per share data) |  | Common Stock |  | Class B Common Stock
Declaration Date |  | Record Date |  | Payment Date |  | Per Share |  | Aggregate |  | Per Share |  | Aggregate
Six Months Ended June 30, 2025 |  |  |  |  |  |  |  |  |  |
2/27/2025 |  | 3/13/2025 |  | 4/3/2025 |  | $ | 0.055 |  |  | $ | 44,175 |  |  | $ | 0.055 |  |  | $ | 3,011 |
4/24/2025 |  | 6/12/2025 |  | 7/8/2025 |  | 0.055 |  |  | 42,884 |  |  | 0.055 |  |  | 3,011 |
|  |  |  | Total |  | $ | 0.110 |  |  | $ | 87,059 |  |  | $ | 0.110 |  |  | $ | 6,022 |
Six Months Ended June 30, 2024 |  |  |  |  |  |  |  |  |  |
1/24/2024 |  | 3/14/2024 |  | 4/4/2024 |  | $ | 0.055 |  |  | $ | 47,059 |  |  | $ | 0.055 |  |  | $ | 3,011 |
4/25/2024 |  | 6/13/2024 |  | 7/9/2024 |  | 0.055 |  |  | 47,137 |  |  | 0.055 |  |  | 3,011 |
|  |  |  | Total |  | $ | 0.110 |  |  | $ | 94,196 |  |  | $ | 0.110 |  |  | $ | 6,022 |
Subsequent Event - On July 24, 2025, the Company announced a dividend of $0.055 per share to holders of Common Stock and Class B Common Stock of record on September 11, 2025, which will be paid on October 2, 2025. Accumulated Other Comprehensive Income (Loss) During the three and six months ended June 30, 2025, there were no material reclassifications out of AOCI. Refer to Note 7 “Derivative Financial Instruments.”

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