Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Stockholders' Equity

v3.25.4
Consolidated Statements of Stockholders' Equity - 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
Balance beginning (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 194,480       61,037   133,443
Issuance of common stock (in shares)   546,045 62,452        
Issuance of common stock 2,696 $ 1 $ 1 1,227     1,467
Forfeiture and retirement of common stock and clawback of vested equity awards (in shares)   (53,404)          
Forfeiture and retirement of common stock and clawback of vested equity awards (141)     464 (605)    
Exchange of LLC equity for common stock (in shares)   5,662,596 (5,655,539)        
Exchange of LLC equity for common stock 0 $ 6 $ (6) 10,452     (10,452)
Equity awards withheld for settlement of employee tax obligations (975)           (975)
Tax Receivable Agreement liability and deferred taxes arising from LLC interest ownership changes (22,436)     (41,342)     18,906
Distributions declared for non-controlling interest holders’ tax (74,554)           (74,554)
Change in share of equity method investment’s other comprehensive loss (973)         (416) (557)
Loss on interest rate cap, net (8,133)         (3,368) (4,765)
Foreign currency translation adjustments 2,125         825 1,300
Equity-based compensation 69,743     53,073     16,670
Ending balance at Dec. 31, 2023 979,644 $ 119 $ 142 441,997 114,420 3,076 419,890
Balance ending (in shares) at Dec. 31, 2023   118,593,062 141,621,188        
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 229,913       94,665   135,248
Issuance of common stock (in shares)   1,466,728 41,254        
Issuance of common stock 9,143 $ 1   4,293     4,849
Forfeiture and retirement of common stock and clawback of vested equity awards (in shares)   (32,107)          
Forfeiture and retirement of common stock and clawback of vested equity awards (292)     1,126 (1,418)    
Exchange of LLC equity for common stock (in shares)   5,383,406 (5,206,129)        
Exchange of LLC equity for common stock 0 $ 5 $ (6) 9,326     (9,325)
Equity awards withheld for settlement of employee tax obligations (284)           (284)
Class A common stock dividends and Dividend Equivalents (84,728)       (84,728)    
Distributions and Declared Distributions to non-controlling LLC Unitholders (22,711)           (22,711)
Tax Receivable Agreement liability and deferred taxes arising from LLC interest ownership changes 4,229     (3,323)     7,552
Distributions declared for non-controlling interest holders’ tax (84,798)           (84,798)
Change in share of equity method investment’s other comprehensive loss 5,708         2,382 3,326
Loss on interest rate cap, net (7,620)         (3,262) (4,358)
Foreign currency translation adjustments (8,914)         (3,992) (4,922)
Equity-based compensation 78,995     52,839     26,156
Ending balance at Dec. 31, 2024 1,098,285 $ 125 $ 136 506,258 122,939 (1,796) 470,623
Balance ending (in shares) at Dec. 31, 2024   125,411,089 136,456,313        
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 214,157       63,399   150,758
Issuance of common stock (in shares)   1,635,301 319,911        
Issuance of common stock 28,502 $ 2 $ 1 13,537     14,962
Cash and common stock clawbacks related to vested equity awards (in shares)   (44,176)          
Cash and common stock clawbacks related to vested equity awards 170     1,966 (2,103)   307
Exchange of LLC equity for common stock (in shares)   2,601,212 (2,267,339)        
Exchange of LLC equity for common stock 0 $ 3 $ (2) 3,499     (3,500)
Equity awards withheld for settlement of employee tax obligations (815)     (214)     (601)
Class A common stock dividends and Dividend Equivalents (63,882)       (63,882)    
Distributions and Declared Distributions to non-controlling LLC Unitholders (27,402)           (27,402)
Tax Receivable Agreement liability and deferred taxes arising from LLC interest ownership changes (37,252)     (68,169)     30,917
Distributions declared for non-controlling interest holders’ tax (62,495)           (62,495)
Change in share of equity method investment’s other comprehensive loss 664         288 376
Loss on interest rate cap, net (6,461)         (1,435) (5,026)
Foreign currency translation adjustments 41,129         16,788 24,341
Equity-based compensation 69,451     56,733     12,718
Ending balance at Dec. 31, 2025 $ 1,254,051 $ 130 $ 135 $ 513,610 $ 120,353 $ 13,845 $ 605,978
Balance ending (in shares) at Dec. 31, 2025   129,603,426 134,508,885