v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($)
$ in Millions
Total
Additional Paid-In Capital
Treasury Stock
Retained Deficit
Accumulated Other Comprehensive Income
Noncontrolling Interests
Class A common stock
Class A common stock
Common Stock
Class B Common Stock
Class B Common Stock
Common Stock
Class C common stock
Class C common stock
Common Stock
Balance at beginning of period (in shares) at Dec. 31, 2022               54,153,218   25,829,016   2,889,811
Balance at beginning of period at Dec. 31, 2022 $ 480.6 $ 702.6 $ 0.0 $ (363.6) $ 8.3 $ 133.3   $ 0.0   $ 0.0   $ 0.0
Balance at beginning of period, Treasury stock (in shares) at Dec. 31, 2022     0                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income 20.4     14.8   5.6            
Issuance of Class A common stock and contingent share earnout in connection with an acquisition (in shares)               27,780        
Issuance of Class A common stock and contingent share earnout in connection with an acquisition 7.6 5.5       2.1            
Exchange of shares held by Rook (in shares)               2,465,770   (1,666,665)   (799,105)
Exchange of shares held by Rook 0.0 4.9       (4.9)            
Distributions to noncontrolling interests (1.8)         (1.8)            
Equity-based compensation 21.9 21.9                    
Vesting of restricted stock units, net of tax withholding (in shares)               123,846        
Vesting of restricted stock units, net of tax withholding (5.3) (4.7)       (0.6)            
Other comprehensive (loss) income 3.0       2.1 0.9            
Balance at end of period (in shares) at Mar. 31, 2023               56,770,614   24,162,351   2,090,706
Balance at end of period at Mar. 31, 2023 526.4 730.2 $ 0.0 (348.8) 10.4 134.6   $ 0.0   $ 0.0   $ 0.0
Balance at end of period, Treasury stock (in shares) at Mar. 31, 2023     0                  
Balance at beginning of period (in shares) at Dec. 31, 2022               54,153,218   25,829,016   2,889,811
Balance at beginning of period at Dec. 31, 2022 480.6 702.6 $ 0.0 (363.6) 8.3 133.3   $ 0.0   $ 0.0   $ 0.0
Balance at beginning of period, Treasury stock (in shares) at Dec. 31, 2022     0                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income 103.7                      
Balance at end of period (in shares) at Sep. 30, 2023               56,544,839   23,831,883   1,759,273
Balance at end of period at Sep. 30, 2023 541.0 748.9 $ 0.0 (355.0) 6.3 140.8   $ 0.0   $ 0.0   $ 0.0
Balance at end of period, Treasury stock (in shares) at Sep. 30, 2023     0                  
Balance at beginning of period (in shares) at Mar. 31, 2023               56,770,614   24,162,351   2,090,706
Balance at beginning of period at Mar. 31, 2023 526.4 730.2 $ 0.0 (348.8) 10.4 134.6   $ 0.0   $ 0.0   $ 0.0
Balance at beginning of period, Treasury stock (in shares) at Mar. 31, 2023     0                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income 36.8     25.1   11.7            
Repurchases of Class A common stock to treasury stock (in shares)     (1,515,000)                  
Repurchases of Class A common stock to treasury stock (97.3) 22.7 $ (97.3)     (22.7)            
Issuance of Class A common stock, net of tax withholding (in shares)               295,699        
Issuance of Class A common stock, net of tax withholding 11.0 6.4       4.6            
Retirement of treasury stock (in shares)     1,515,000         1,515,000        
Retirement of treasury stock 0.0 (33.4) $ 97.3 (63.9)                
Exchange of shares held by Rook (in shares)               661,901   (330,468)   (331,433)
Exchange of shares held by Rook 0.0 1.9       (1.9)            
Distributions to noncontrolling interests (0.4)         (0.4)            
Equity-based compensation 13.1 13.1                    
Vesting of restricted stock units, net of tax withholding (in shares)               253,919        
Vesting of restricted stock units, net of tax withholding (10.3) (7.1)       (3.2)            
Other comprehensive (loss) income (0.1)       (0.1)              
Balance at end of period (in shares) at Jun. 30, 2023               56,467,133   23,831,883   1,759,273
Balance at end of period at Jun. 30, 2023 479.2 733.8 $ 0.0 (387.6) 10.3 122.7   $ 0.0   $ 0.0   $ 0.0
Balance at end of period, Treasury stock (in shares) at Jun. 30, 2023     0                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income 46.5     32.6   13.9            
Issuance of Class A common stock and contingent share earnout in connection with an acquisition 13.8 8.1       5.7            
Excise tax 0.1 0.1                    
Distributions to noncontrolling interests (0.5)         (0.5)            
Equity-based compensation 12.4 12.4                    
Vesting of restricted stock units, net of tax withholding (in shares)               77,706        
Vesting of restricted stock units, net of tax withholding (4.9) (5.5)       0.6            
Other comprehensive (loss) income (5.6)       (4.0) (1.6)            
Balance at end of period (in shares) at Sep. 30, 2023               56,544,839   23,831,883   1,759,273
Balance at end of period at Sep. 30, 2023 541.0 748.9 $ 0.0 (355.0) 6.3 140.8   $ 0.0   $ 0.0   $ 0.0
Balance at end of period, Treasury stock (in shares) at Sep. 30, 2023     0                  
Balance at beginning of period (in shares) at Dec. 31, 2023             60,664,171 60,664,171 23,831,883 23,831,883 1,694,915 1,694,915
Balance at beginning of period at Dec. 31, 2023 868.4 985.9 $ 0.0 (346.7) 14.1 215.1   $ 0.0   $ 0.0   $ 0.0
Balance at beginning of period, Treasury stock (in shares) at Dec. 31, 2023     0                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income 28.5     20.6   7.9            
Distributions to noncontrolling interests (0.3)         (0.3)            
Equity-based compensation 22.8 22.8                    
Vesting of restricted stock units, net of tax withholding (in shares)               151,053        
Vesting of restricted stock units, net of tax withholding (9.1) (11.6)       2.5            
Other comprehensive (loss) income (14.5)       (10.6) (3.9)            
Balance at end of period (in shares) at Mar. 31, 2024               60,815,224   23,831,883   1,694,915
Balance at end of period at Mar. 31, 2024 895.8 997.1 $ 0.0 (326.1) 3.5 221.3   $ 0.0   $ 0.0   $ 0.0
Balance at end of period, Treasury stock (in shares) at Mar. 31, 2024     0                  
Balance at beginning of period (in shares) at Dec. 31, 2023             60,664,171 60,664,171 23,831,883 23,831,883 1,694,915 1,694,915
Balance at beginning of period at Dec. 31, 2023 868.4 985.9 $ 0.0 (346.7) 14.1 215.1   $ 0.0   $ 0.0   $ 0.0
Balance at beginning of period, Treasury stock (in shares) at Dec. 31, 2023     0                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income 155.2                      
Repurchases of Class A common stock to treasury stock (in shares)             (528,888)          
Repurchases of Class A common stock to treasury stock             $ (35.9)          
Balance at end of period (in shares) at Sep. 30, 2024             66,942,326 66,942,326 19,801,028 19,801,028 1,635,770 1,635,770
Balance at end of period at Sep. 30, 2024 1,047.8 1,048.7 $ 0.0 (257.5) 20.6 236.0   $ 0.0   $ 0.0   $ 0.0
Balance at end of period, Treasury stock (in shares) at Sep. 30, 2024     0                  
Balance at beginning of period (in shares) at Mar. 31, 2024               60,815,224   23,831,883   1,694,915
Balance at beginning of period at Mar. 31, 2024 895.8 997.1 $ 0.0 (326.1) 3.5 221.3   $ 0.0   $ 0.0   $ 0.0
Balance at beginning of period, Treasury stock (in shares) at Mar. 31, 2024     0                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income 54.5     39.2   15.3            
Recognition of Vectron noncontrolling interest 25.9         25.9            
Repurchases of Class A common stock to treasury stock (in shares)     (230,400)                  
Repurchases of Class A common stock to treasury stock (15.9) (1.0) $ (15.9)     1.0            
Issuance of Class A common stock, net of tax withholding (in shares)               1,230,309        
Issuance of Class A common stock, net of tax withholding 2.0 1.6       0.4            
Retirement of treasury stock (in shares)     230,400         230,400        
Retirement of treasury stock 0.0 (5.0) $ 15.9 (10.9)                
Exchange of shares held by Rook (in shares)               109,976   (80,915)   (29,061)
Exchange of shares held by Rook 0.0 0.1       (0.1)            
Distributions to noncontrolling interests (1.7)         (1.7)            
Equity-based compensation 14.3 14.3                    
Vesting of restricted stock units, net of tax withholding (in shares)               42,139        
Vesting of restricted stock units, net of tax withholding (2.1) (1.4)       (0.7)            
Other comprehensive (loss) income (14.0)       (10.6) (3.4)            
Balance at end of period (in shares) at Jun. 30, 2024               61,967,248   23,750,968   1,665,854
Balance at end of period at Jun. 30, 2024 958.8 1,005.7 $ 0.0 (297.8) (7.1) 258.0   $ 0.0   $ 0.0   $ 0.0
Balance at end of period, Treasury stock (in shares) at Jun. 30, 2024     0                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income 72.2     53.8   18.4            
Purchases of shares of Vectron common stock, net of foreign currency translation (0.1)         (0.1)            
Repurchases of Class A common stock to treasury stock (in shares)     (298,488)                  
Repurchases of Class A common stock to treasury stock (20.0) 3.5 $ (20.0)     (3.5)            
Issuance of Class A common stock, net of tax withholding (in shares)               1,203,807        
Retirement of treasury stock (in shares)     298,488         298,488        
Retirement of treasury stock 0.0 (6.5) $ 20.0 (13.5)                
Exchange of shares held by Rook (in shares)               3,980,024   (3,949,940)   (30,084)
Exchange of shares held by Rook 0.0 38.9       (38.9)            
Equity impact of tax receivable agreement for exchanges, net of deferred taxes arising from changes in ownership (2.2) (2.2)                    
Distributions to noncontrolling interests (4.6)         (4.6)            
Equity-based compensation 14.3 14.3                    
Vesting of restricted stock units, net of tax withholding (in shares)               89,735        
Vesting of restricted stock units, net of tax withholding (6.4) (5.0)       (1.4)            
Other comprehensive (loss) income 35.8       27.7 8.1            
Balance at end of period (in shares) at Sep. 30, 2024             66,942,326 66,942,326 19,801,028 19,801,028 1,635,770 1,635,770
Balance at end of period at Sep. 30, 2024 $ 1,047.8 $ 1,048.7 $ 0.0 $ (257.5) $ 20.6 $ 236.0   $ 0.0   $ 0.0   $ 0.0
Balance at end of period, Treasury stock (in shares) at Sep. 30, 2024     0