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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
INVENTORIES $ 2,298,080 $ 2,213,479
INVESTMENT IN UNCONSOLIDATED ENTITIES 185,324 252,816
PROPERTIES AND EQUIPMENT, NET 29,487 29,145
INTANGIBLE ASSET, NET—RELATED PARTY 9,037 25,270
CASH AND CASH EQUIVALENTS 430,875 353,801
RESTRICTED CASH AND CERTIFICATES OF DEPOSIT 992 992
TOTAL 3,076,417 2,969,288
LIABILITIES:    
Notes payable, net 525,737 622,186
Accounts payable and other liabilities 100,292 81,649
Related party liabilities 63,297 78,074
Deferred income tax liability, net 33,570 7,067
Payable pursuant to tax receivable agreement 173,424 173,208
Total liabilities 896,320 962,184
COMMITMENTS AND CONTINGENT LIABILITIES (Note 13)
REDEEMABLE NONCONTROLLING INTEREST 25,000 25,000
CAPITAL:    
Contributed capital 593,827 591,606
Retained earnings 157,077 88,780
Accumulated other comprehensive loss (1,468) (2,332)
Total members’ capital 749,436 678,054
Noncontrolling interests 1,405,661 1,304,050
Total capital 2,155,097 1,982,104
TOTAL 3,076,417 2,969,288
Related Party    
ASSETS    
OTHER ASSETS 101,670 83,970
LIABILITIES:    
Related party liabilities 63,297 78,074
Nonrelated Party    
ASSETS    
OTHER ASSETS $ 20,952 $ 9,815