Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Stockholders' Equity (Unaudited)

v3.24.3
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)
$ in Thousands
Total
Common Stock
Class A Common Stock
Common Stock
Class B Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Non- controlling Interests
Beginning balance (in shares) at Dec. 31, 2022   112,437,825 147,214,275        
Beginning balance at Dec. 31, 2022 $ 817,812 $ 112 $ 147 $ 418,123 $ 53,988 $ 6,035 $ 339,407
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 36,457       13,160   23,297
Issuance of common stock (shares)   3,468          
Exchange of LLC equity for common stock (in shares)   792,358 792,358        
Exchange of LLC equity for common stock 0 $ 1 $ (1) 1,430     (1,430)
Tax Receivable Agreement liability and deferred taxes arising from LLC interest ownership changes (395)     (395)      
Distributions declared for non-controlling interest holders’ tax (15,382)           (15,382)
Change in share of equity method investment in related party other comprehensive income 584         214 370
Gain (loss) on interest rate cap, net (6,140)         (2,251) (3,889)
Foreign currency translation adjustments 783         285 498
Equity-based compensation 17,879     17,740     139
Ending balance (in shares) at Mar. 31, 2023   113,233,651 146,421,917        
Ending balance at Mar. 31, 2023 851,598 $ 113 $ 146 436,898 67,148 4,283 343,010
Beginning balance (in shares) at Dec. 31, 2022   112,437,825 147,214,275        
Beginning balance at Dec. 31, 2022 817,812 $ 112 $ 147 418,123 53,988 6,035 339,407
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 135,977            
Ending balance (in shares) at Sep. 30, 2023   118,222,528 142,026,335        
Ending balance at Sep. 30, 2023 941,241 $ 118 $ 141 442,304 92,179 8,236 398,263
Beginning balance (in shares) at Mar. 31, 2023   113,233,651 146,421,917        
Beginning balance at Mar. 31, 2023 851,598 $ 113 $ 146 436,898 67,148 4,283 343,010
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 83,817       30,078   53,739
Issuance of common stock (shares)   104,196 21,006        
Exchange of LLC equity for common stock (in shares)   1,871,084 1,871,084        
Exchange of LLC equity for common stock 0 $ 2 $ (2) 3,474     (3,474)
Tax Receivable Agreement liability and deferred taxes arising from LLC interest ownership changes 449     449      
Distributions declared for non-controlling interest holders’ tax (21,992)           (21,992)
Change in share of equity method investment in related party other comprehensive income 868         323 545
Gain (loss) on interest rate cap, net 10,250         3,816 6,434
Foreign currency translation adjustments 279         103 176
Equity-based compensation 18,649     12,104     6,545
Ending balance (in shares) at Jun. 30, 2023   115,208,931 144,571,839        
Ending balance at Jun. 30, 2023 943,918 $ 115 $ 144 452,925 97,226 8,525 384,983
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 15,703       (5,047)   20,750
Issuance of common stock (shares)   426,647 41,446        
Issuance of common stock 2,694     2,694      
Exchange of LLC equity for common stock (in shares)   2,586,950 2,586,950        
Exchange of LLC equity for common stock 0 $ 3 $ (3) 4,804     (4,804)
Tax Receivable Agreement liability and deferred taxes arising from LLC interest ownership changes (19,834)     (32,970)     13,136
Distributions declared for non-controlling interest holders’ tax (18,104)           (18,104)
Change in share of equity method investment in related party other comprehensive income (672)         (267) (405)
Gain (loss) on interest rate cap, net 1,374         545 829
Foreign currency translation adjustments (1,446)     (17)   (567) (862)
Equity-based compensation 17,608     14,868     2,740
Ending balance (in shares) at Sep. 30, 2023   118,222,528 142,026,335        
Ending balance at Sep. 30, 2023 941,241 $ 118 $ 141 442,304 92,179 8,236 398,263
Beginning balance (in shares) at Dec. 31, 2023   118,593,062 141,621,188        
Beginning balance at Dec. 31, 2023 979,644 $ 119 $ 142 441,997 114,420 3,076 419,890
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 40,677       16,535   24,142
Issuance of common stock (shares)   9,449          
Exchange of LLC equity for common stock (in shares)   134,959 134,959        
Exchange of LLC equity for common stock 0     240     (240)
Class A common stock dividends and Dividend Equivalents (42,418)       (42,418)    
Distributions and Declared Distributions to non-controlling LLC Unitholders (5,766)           (5,766)
Tax Receivable Agreement liability and deferred taxes arising from LLC interest ownership changes (78)     (78)      
Distributions declared for non-controlling interest holders’ tax (22,177)           (22,177)
Change in share of equity method investment in related party other comprehensive income 3,780         1,510 2,270
Gain (loss) on interest rate cap, net 4,805         1,918 2,887
Foreign currency translation adjustments (1,024)         (408) (616)
Equity-based compensation 17,310     17,297     13
Ending balance (in shares) at Mar. 31, 2024   118,737,470 141,486,229        
Ending balance at Mar. 31, 2024 974,753 $ 119 $ 142 459,456 88,537 6,096 420,403
Beginning balance (in shares) at Dec. 31, 2023   118,593,062 141,621,188        
Beginning balance at Dec. 31, 2023 979,644 $ 119 $ 142 441,997 114,420 3,076 419,890
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 187,358            
Ending balance (in shares) at Sep. 30, 2024   125,096,524 136,724,772        
Ending balance at Sep. 30, 2024 1,101,532 $ 125 $ 137 500,518 124,973 7,080 468,699
Beginning balance (in shares) at Mar. 31, 2024   118,737,470 141,486,229        
Beginning balance at Mar. 31, 2024 974,753 $ 119 $ 142 459,456 88,537 6,096 420,403
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 118,038       46,787   71,251
Issuance of common stock (shares)   270,510 8,992        
Issuance of common stock 2,168     989     1,179
Exchange of LLC equity for common stock (in shares)   331,150 331,150        
Exchange of LLC equity for common stock 0     598     (598)
Equity awards withheld for settlement of employee tax obligations (284)           (284)
Class A common stock dividends and Dividend Equivalents (13,764)       (13,764)    
Distributions and Declared Distributions to non-controlling LLC Unitholders (5,758)           (5,758)
Tax Receivable Agreement liability and deferred taxes arising from LLC interest ownership changes 508     709     (201)
Distributions declared for non-controlling interest holders’ tax (22,829)           (22,829)
Change in share of equity method investment in related party other comprehensive income (940)         (376) (564)
Gain (loss) on interest rate cap, net (1,860)         (744) (1,116)
Foreign currency translation adjustments 2,309         927 1,382
Equity-based compensation 20,895     16,378     4,517
Ending balance (in shares) at Jun. 30, 2024   119,339,130 141,164,071        
Ending balance at Jun. 30, 2024 1,073,236 $ 119 $ 142 478,130 121,560 5,903 467,382
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 28,643       17,589   11,054
Issuance of common stock (shares)   1,123,824 32,262        
Issuance of common stock 6,978 $ 1   3,307     3,670
Forfeiture of common stock (in shares)   (1,883)          
Exchange of LLC equity for common stock (in shares)   4,635,453 4,471,561        
Exchange of LLC equity for common stock 0 $ 5 $ (5) 8,005     (8,005)
Class A common stock dividends and Dividend Equivalents (14,176)       (14,176)    
Distributions and Declared Distributions to non-controlling LLC Unitholders (5,622)           (5,622)
Tax Receivable Agreement liability and deferred taxes arising from LLC interest ownership changes 8,131     8,131      
Distributions declared for non-controlling interest holders’ tax (21,952)           (21,952)
Change in share of equity method investment in related party other comprehensive income (353)         (149) (204)
Gain (loss) on interest rate cap, net (12,729)         (5,332) (7,397)
Foreign currency translation adjustments 15,917         6,658 9,259
Equity-based compensation 23,459     2,945     20,514
Ending balance (in shares) at Sep. 30, 2024   125,096,524 136,724,772        
Ending balance at Sep. 30, 2024 $ 1,101,532 $ 125 $ 137 $ 500,518 $ 124,973 $ 7,080 $ 468,699