XML 52 R36.htm IDEA: XBRL DOCUMENT v3.25.4
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
The components of income tax expense are as follows (amounts in thousands):
Year Ended December 31,
202520242023
Current income taxes:
Federal
$21,480 $34,607 $7,095 
State and local— — 
Total current income taxes21,489 34,607 7,095 
Deferred income taxes:
Federal
25,157 2,307 35,888 
State and local
— 
Total deferred income taxes
25,161 2,307 35,889 
Total income tax expense $46,650 $36,914 $42,984 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
Year Ended December 31,
20242023
Expected U.S. federal income taxes at statutory rate
$68,923 $79,960 
Income attributable to noncontrolling interests
(28,821)(33,972)
Change in valuation allowance— (322)
Other(3,188)(2,682)
Income tax expense $36,914 $42,984 
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
The components of deferred tax assets are as follows (amounts in thousands):
December 31,
20252024
Deferred tax assets:
Interest expense carryforwards and other attributes$15,090 $21,807 
Investment in partnership
12,123 26,052 
Equity-based compensation3,376 4,284 
Tax receivable agreement4,328 4,290 
Total deferred tax assets$34,917 $56,433 
Schedule of Unrecognized Tax Benefits Roll Forward
The Company had the following activity for unrecognized tax benefits (amounts in thousands):
Year Ended December 31,
202520242023
Balance at beginning of year$1,798 $1,798 $1,798 
Adjustments for tax positions of prior years— — — 
Balance at end of year$1,798 $1,798 $1,798