v3.25.2
Earnings Per Share Attributable to Common Stockholders
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share Attributable to Common Stockholders Earnings Per Share Attributable to Common Stockholders
The following table presents the calculation of basic and diluted earnings per share attributable to common stockholders (in thousands, except per share amounts):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Numerator
Net income attributable to common stockholders for diluted earnings per share$326,727 $134,126 $540,758 $239,656 
Denominator
Weighted-average shares used in computing earnings per share:
Basic2,365,196 2,231,592 2,356,983 2,222,569 
Effect of dilutive shares197,716 183,104 200,928 184,833 
Diluted2,562,912 2,414,696 2,557,911 2,407,402 
Earnings per share
Earnings per share attributable to common stockholders:
Basic$0.14 $0.06 $0.23 $0.11 
Diluted$0.13 $0.06 $0.21 $0.10 
Diluted earnings per share is calculated using our weighted-average shares of outstanding common stock including the dilutive effect of stock awards as determined under the treasury stock method. For the three and six months ended June 30, 2025 and 2024, outstanding potentially dilutive common stock equivalents of RSUs were 1.1 million and 0.8 million, respectively, and were excluded from the computation of diluted earnings per share attributable to common stockholders due to their anti-dilutive effect.
As of June 30, 2025, the Company had 7.2 million Time-Vesting SARs outstanding, of which the maximum number of potentially dilutive shares of Class A common stock upon vesting would be the fraction that equals the maximum appreciation divided by the Company’s Class A common stock price at that time.