Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Earnings Per Share, Basic and Diluted

Common Stock

Potential shares of Common Stock include (i) incremental shares related to the vesting or exercise of share-based compensation awards, warrants, and other options to purchase additional shares of the Company’s Common Stock calculated using the treasury stock method and (ii) incremental shares of Common Stock issuable upon the conversion of Class B Common Stock.


	Years Ended December 31,
(in thousands, except per share amounts)	2025		2024		2023
Allocation of income (loss) from continuing operations - basic	$	560,977	$	581,980	$	423,503
Dilutive effect(1)	13,988		13,671		8,885
Allocation of income (loss) from continuing operations - diluted	$	574,965	$	595,651	$	432,388

Allocation of income (loss) from discontinued operations, net of tax - basic	$	(4,267)	$	(111,197)	$	11,885
Dilutive effect(1)	—		—		—
Allocation of income (loss) from discontinued operations, net of tax - diluted	$	(4,267)	$	(111,197)	$	11,885

Weighted-average shares outstanding - basic	777,822		846,521		856,843
Dilutive effect(1)	63,354		62,179		62,306
Weighted-average shares outstanding - diluted	841,176		908,700		919,149

Income (loss) from continuing operations per share - basic	$	0.72	$	0.69	$	0.49
Income (loss) from continuing operations per share - diluted	$	0.68	$	0.66	$	0.47

Income (loss) from discontinued operations, net of tax, per share - basic	$	(0.01)	$	(0.13)	$	0.01
Income (loss) from discontinued operations, net of tax, per share - diluted	$	(0.01)	$	(0.12)	$	0.01

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(1) Includes conversion of Class B Common Stock. 21 million, 20 million, and 17 million potential shares of Common Stock were excluded during 2025, 2024, and 2023, respectively, from the diluted earnings per share calculations because their effects would have been anti-dilutive.

Class B Common Stock


	Years Ended December 31,
(in thousands, except per share amounts)	2025		2024		2023
Allocation of income (loss) from continuing operations - basic	$	39,541	$	37,410	$	26,867
Dilutive effect(1)	(1,944)		(1,627)		(1,221)
Allocation of income (loss) from continuing operations - diluted	$	37,597	$	35,783	$	25,646

Allocation of income (loss) from discontinued operations, net of tax - basic	$	(300)	$	(7,140)	$	754
Dilutive effect(1)	—		—		—
Allocation of income (loss) from discontinued operations, net of tax - diluted	$	(300)	$	(7,140)	$	754

Weighted-average shares outstanding - basic	54,745		54,745		54,745
Dilutive effect(1)	—		—		—
Weighted-average shares outstanding - diluted	54,745		54,745		54,745

Income (loss) from continuing operations per share - basic	$	0.72	$	0.69	$	0.49
Income (loss) from continuing operations per share - diluted	$	0.68	$	0.66	$	0.47

Income (loss) from discontinued operations, net of tax, per share - basic	$	(0.01)	$	(0.13)	$	0.01
Income (loss) from discontinued operations, net of tax, per share - diluted	$	(0.01)	$	(0.12)	$	0.01

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(1) There were no potential shares of Class B Common Stock during the periods presented.