XML 51 R38.htm IDEA: XBRL DOCUMENT
v3.25.3

EARNINGS PER SHARE (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Earnings Per Share [Abstract] |
Schedule of Earnings Per Share, Basic and Diluted | The following tables summarize the calculation of earnings per share under the two-class method:
| Quarter Ended September 30, |  | Quarter Ended September 30,
| 2025 |  |  |  | 2024 |  |
(in thousands, except share and per share data) | Class A common stock |  | Class B common stock |  | Consolidated |  | Class A common stock |  | Class B common stock |  | Consolidated
Net income |  |  |  |  | $55,161 |  |  |  |  |  | $39,944
Basic: |  |  |  |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |  |  |  |
Allocation of distributed earnings (cash dividends declared) | $— |  | $— |  | $— |  | $28,419 |  | $1,577 |  | $29,996
Allocation of undistributed earnings | 52,345 |  | 2,816 |  | 55,161 |  | 9,425 |  | 523 |  | 9,948
Allocation of distributed and undistributed earnings | $52,345 |  | $2,816 |  | $55,161 |  | $37,844 |  | $2,100 |  | $39,944
Denominator |  |  |  |  |  |  |  |  |  |  |
Basic weighted average common shares outstanding | 207,189,764 |  | 1,114,448 |  | 208,304,212 |  | 200,884,880 |  | 1,114,448 |  | 201,999,328
Basic earnings per share (1) | $0.25 |  | $2.53 |  | $0.26 |  | $0.19 |  | $1.88 |  | $0.20
Diluted: |  |  |  |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |  |  |  |
Allocation of distributed and undistributed earnings | $52,345 |  | $2,816 |  | $55,161 |  | $37,844 |  | $2,100 |  | $39,944
Denominator |  |  |  |  |  |  |  |  |  |  |
Basic weighted average common shares outstanding | 207,189,764 |  | 1,114,448 |  | 208,304,212 |  | 200,884,880 |  | 1,114,448 |  | 201,999,328
Dilutive effect of unvested restricted stock units | 68,914 |  | — |  | 68,914 |  | 92,431 |  | — |  | 92,431
Diluted weighted average common shares outstanding | 207,258,678 |  | 1,114,448 |  | 208,373,126 |  | 200,977,311 |  | 1,114,448 |  | 202,091,759
Diluted earnings per share (1) | $0.25 |  | $2.53 |  | $0.26 |  | $0.19 |  | $1.88 |  | $0.20
(1) Periods prior to September 2, 2025 have been restated as a result of the adjustment to common shares outstanding based on the exchange ratio from the Merger of 3,301.0920 for Class A common stock and 330.1092 for Class B common stock.
| Nine Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024
(in thousands, except share and per share data) | Class A common stock |  | Class B common stock |  | Consolidated |  | Class A common stock |  | Class B common stock |  | Consolidated
Net income (loss) |  |  |  |  | $141,437 |  |  |  |  |  | $(22,664)
Basic: |  |  |  |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |  |  |  |
Allocation of distributed earnings (cash dividends declared) | $— |  | $— |  | $— |  | $89,999 |  | $4,993 |  | $94,992
Allocation of undistributed earnings (losses) | 134,077 |  | 7,360 |  | 141,437 |  | (111,472) |  | (6,184) |  | (117,656)
Allocation of distributed and undistributed earnings (losses) | $134,077 |  | $7,360 |  | $141,437 |  | $(21,473) |  | $(1,191) |  | $(22,664)
Denominator |  |  |  |  |  |  |  |  |  |  |
Basic weighted average common shares outstanding | 203,012,384 |  | 1,114,448 |  | 204,126,832 |  | 200,876,688 |  | 1,114,448 |  | 201,991,136
Basic earnings (loss) per share (1) | $0.66 |  | $6.60 |  | $0.69 |  | $(0.11) |  | $(1.07) |  | $(0.11)
Diluted: |  |  |  |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |  |  |  |
Allocation of distributed and undistributed earnings (losses) | $134,077 |  | $7,360 |  | $141,437 |  | $(21,473) |  | $(1,191) |  | $(22,664)
Denominator |  |  |  |  |  |  |  |  |  |  |
Basic weighted average common shares outstanding | 203,012,384 |  | 1,114,448 |  | 204,126,832 |  | 200,876,688 |  | 1,114,448 |  | 201,991,136
Dilutive effect of unvested restricted stock units (2) | 62,619 |  | — |  | 62,619 |  | — |  | — |  | —
Diluted weighted average common shares outstanding | 203,075,003 |  | 1,114,448 |  | 204,189,451 |  | 200,876,688 |  | 1,114,448 |  | 201,991,136
Diluted earnings per share (1) | $0.66 |  | $6.60 |  | $0.69 |  | $(0.11) |  | $(1.07) |  | $(0.11)
(1) Periods prior to September 2, 2025 have been restated as a result of the adjustment to common shares outstanding based on the exchange ratio from the Merger of 3,301.0920 for Class A common stock and 330.1092 for Class B common stock. (2) Excluded from the computation of diluted earnings per share (due to their antidilutive effect) for the nine months ended September 30, 2024 were certain unvested RSUs. On a weighted average basis, 112,237 unvested RSUs were excluded because their effect would have been anti-dilutive.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration