Capital Structure

12 Months Ended

Sep. 30, 2018

Equity [Abstract]

Capital Structure

13. Capital Structure

Prior to the IPO discussed in Note 1 “Business”, all of the Company’s common stock was held by the Parent in direct proportion to ownership units (“Class A Units”) held by investors in the Parent. The Parent issued Class A Units to investors, including certain management employees. During the year ended September 30, 2018, the Parent issued 29 new Class A Units. Since the Parent was a holding company, it relied on the Company to satisfy the Parent’s obligations for any equity units called for redemption. The Parent redeemed vested units at the then fair market value primarily upon the termination of management employees. When the Parent’s units were redeemed, the Company repurchased the associated common stock and made a distribution to the Parent in order to fund the redemption. There were $1,612, $717 and $22,874 to fund redemptions of Parent units during the year ended September 30, 2018, the nine months ended September 30, 2017 and the year ended December 31, 2016, respectively.