v3.25.3
Earnings Per Share Attributable to Common Stockholders
 9 Months Ended
Sep. 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
September 30,		Nine Months Ended
September 30,
2025202420252024
Numerator
Net income attributable to common stockholders for diluted earnings per share$475,599 $143,525 $1,016,357 $383,181 
Denominator
Weighted-average shares used in computing earnings per share:
Basic2,377,167 2,250,032 2,363,785 2,231,790 
Effect of dilutive shares193,890 209,557 198,582 193,074 
Diluted2,571,057 2,459,589 2,562,367 2,424,864 
Earnings per share
Earnings per share attributable to common stockholders:
Basic$0.20 $0.06 $0.43 $0.17 
Diluted$0.18 $0.06 $0.40 $0.16 
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 nine months ended September 30, 2025 and 2024, outstanding potentially dilutive common stock equivalents of RSUs were 1.3 million and 6.7 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 September 30, 2025, the Company had 11.3 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.