Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Components of Share-Based Compensation

The relative total shareholder return metric was valued using a Monte Carlo simulation under a risk-neutral premise, applying the following assumptions. This forms the fair value of market condition awards. The fair value of performance condition awards also incorporate, in addition to the relative total shareholder return metric, the probability of achieving the cumulative DE per share targets.

	2025 PSU Grants	2024 PSU Grants	2023 PSU Grants
Expected volatility of the Company's class A common stock (1)	49.8%	44.6%	41.3%
Risk-free rate (per annum) (2)	3.9%	4.5%	3.8%

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(1)    Based upon historical volatility of the Company's stock and those of a specified peer group.

(2)    Based upon the continuously compounded zero-coupon U.S. Treasury yield for the term coinciding with the measurement period of the award as of valuation date.

Equity-based compensation cost in continuing operations is presented on the consolidated statement of operations, as follows.

	Year Ended December 31,
(In thousands)	2025		2024		2023
Compensation expense	$	34,764	$	35,676	$	55,597
Administrative expense	538		—		228
	$	35,302	$	35,676	$	55,825

Schedule of Nonvested Shares Under Director Stock Plan and Equity Incentive Plan

Changes in unvested equity awards are summarized below.

							Weighted Average Grant Date Fair Value
	Restricted Stock	LTIP units (1)	DSUs	RSUs (2)	PSUs (3)	Total	PSUs		All Other Awards
Unvested shares and units at December 31, 2024	3,199,827	125,000	30,819	13,305	631,257	4,000,208	$	16.29	$	15.68
Granted	2,876,739	—	46,577	832,574	485,902	4,241,792	9.32		9.90
Vested	(1,946,354)	—	(31,502)	(4,435)	—	(1,982,291)	—		15.33
Forfeited	(84,630)	—	—	(181,452)	(185,675)	(451,757)	27.36		11.52
Unvested shares and units at December 31, 2025	4,045,582	125,000	45,894	659,992	931,484	5,807,952	10.45		11.60

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(1)    Represents the number of LTIP units granted subject to vesting upon achievement of market condition. LTIP units that do not meet the market condition within the measurement period are forfeited.

(2)    Represents the number of RSUs granted subject to vesting upon achievement of performance condition. RSUs that do not meet the performance condition at the end of the measurement period are forfeited.

(3)    Number of PSUs granted does not reflect potential increases or decreases that could result from the final outcome based upon the total shareholder return measured at the end of the performance period. PSUs for which the total shareholder return is not met at the end of the performance period are forfeited. PSUs for which the probability of meeting the DE target changes during the measurement period are reflected as either additional units granted or forfeited.