XML 14 R2.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
ASSETS    
INVENTORIES $ 2,448,353 $ 2,298,080
INVESTMENT IN UNCONSOLIDATED ENTITIES 168,867 185,324
PROPERTIES AND EQUIPMENT, NET 29,253 29,487
INTANGIBLE ASSETS, NET—RELATED PARTY 19,863 9,037
GOODWILL 69,812 0
CASH AND CASH EQUIVALENTS 351,127 430,875
RESTRICTED CASH AND CERTIFICATES OF DEPOSIT 992 992
TOTAL 3,185,282 3,076,417
LIABILITIES:    
Notes payable, net 444,533 525,737
Accounts payable and other liabilities 102,423 100,292
Related party liabilities 65,344 63,297
Deferred income tax liability, net 49,624 33,570
Payable pursuant to tax receivable agreement 173,849 173,424
Total liabilities 835,773 896,320
COMMITMENTS AND CONTINGENT LIABILITIES (Note 12)
REDEEMABLE NONCONTROLLING INTERESTS 69,527 25,000
CAPITAL:    
Contributed capital 599,741 593,827
Retained earnings 204,752 157,077
Accumulated other comprehensive loss (1,450) (1,468)
Total members’ capital 803,043 749,436
Noncontrolling interests 1,476,939 1,405,661
Total capital 2,279,982 2,155,097
TOTAL 3,185,282 3,076,417
Related Party    
ASSETS    
OTHER ASSETS 78,194 101,670
LIABILITIES:    
Related party liabilities 65,344 63,297
Nonrelated Party    
ASSETS    
OTHER ASSETS $ 18,821 $ 20,952