v3.25.3
STOCKHOLDERS’ EQUITY (Tables)
9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Schedule of Cash Distributions
The following table presents information regarding cash dividends paid during the periods presented (in millions except per share amounts):

Distributions
PeriodAmount per OpCo Unit
Operating Company Distributions to Non-Controlling Interests
Amount per Class A Common Share
Class A Common Stockholders(1)
Declaration DateClass A Common Stockholder Record DatePayment Date
2025
Q4 2024$0.69 $68 $0.65 $85 January 30, 2025March 6, 2025March 13, 2025
Q1 2025$0.70 $117 $0.57 $75 May 1, 2025May 15, 2025May 22, 2025
Q2 2025$0.59 $98 $0.53 $69 July 31, 2025August 14, 2025August 21, 2025
2024
Q4 2023$0.69 $63 $0.56 $48 February 15, 2024March 5, 2024March 12, 2024
Q1 2024$0.70 $60 $0.59 $54 April 25, 2024May 15, 2024May 22, 2024
Q2 2024$0.76 $65 $0.64 $59 August 1, 2024August 15, 2024August 22, 2024
(1)    Dividends paid in the first quarter of 2024 include amounts paid to Diamondback for the 7,946,507 shares of Class A Common Stock then beneficially owned by Diamondback and distribution equivalent rights payments. As of March 31, 2024, Diamondback did not beneficially own any shares of Class A Common Stock.
Schedule of Change in Ownership Interest
The following table summarizes the changes in stockholders’ equity due to changes in ownership interest during the period:

Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
(In millions)
Net income (loss) attributable to the Company$(77)$49 $35 $149 
Change in ownership of consolidated subsidiaries (75)(156)481 (79)
Change from net income (loss) attributable to the Company’s stockholders and transfers with non-controlling interest$(152)$(107)$516 $70