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| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity-Based and Other Deferred Compensation | 9. EQUITY-BASED AND OTHER DEFERRED COMPENSATION Overview Further information regarding the Company’s equity-based compensation awards is described in Note 10. “Equity-Based and Other Deferred Compensation” in the “Notes to Consolidated Financial Statements” in “Part II. Item 8. Financial Statements and Supplementary Data” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. The following table represents equity-based compensation expense and related income tax benefit for the three and six months ended June 30, 2026 and 2025:
Restricted Stock Units The following table summarizes activity related to unvested RSUs, including those that have fully achieved market conditions in prior periods and remain subject to service conditions, for the six months ended June 30, 2026:
As of June 30, 2026, there was $378.9 million of estimated unrecognized compensation expense related to unvested RSU awards. This cost is expected to be recognized over a weighted-average period of 2.2 years. The weighted-average grant date fair value with respect to RSUs granted for the six months ended June 30, 2025 was $174.75. Partnership Units The following table summarizes activity related to unvested Partnership Units, including those that have fully achieved market conditions in prior periods and remain subject to service conditions, for the six months ended June 30, 2026:
As of June 30, 2026, there was $23.4 million of estimated unrecognized compensation expense related to unvested Partnership Units. This cost is expected to be recognized over a weighted-average period of 1.5 years. The weighted-average grant date fair value with respect to Partnership Units granted for the six months ended June 30, 2025 was $162.60. Units Expected to Vest As of June 30, 2026, the following unvested units, after expected forfeitures, are expected to vest:
Deferred Cash Compensation The Company has periodically issued deferred cash compensation in connection with annual incentive compensation as well as other hiring or retention related awards. These awards typically vest over a period of to four years. Compensation expense related to deferred cash awards was $4.3 million and $8.7 million for the three and six months ended June 30, 2026, respectively, and $11.3 million and $22.5 million for the three and six months ended June 30, 2025, respectively. As of June 30, 2026, there was $13.1 million of unrecognized compensation expense related to these awards. The weighted-average period over which this compensation cost is expected to be recognized is 1.1 years. |
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