Equity-Based Compensation and Equity (Tables)

12 Months Ended

Dec. 31, 2020

The following table summarizes the activity in the Common Series C Units during the years ended December 31, 2020, 2019 and 2018:


	Year Ended December 31,
	2020			2019			2018
Beginning of the period		174,190			156,975			150,906
Grants		2,900			21,953			10,830
Forfeitures		(5,064	)		(4,738	)		(4,416	)
Repurchases		—			—			(345	)

End of the period		172,026			174,190			156,975

The following table summarizes the activity in the Common Series

C-2

Units during the years ended December 31, 2020, 2019 and 2018:


	Year Ended December 31,
	2020			2019			2018
Beginning of the period		33,400			33,525			—
Grants		2,500			1,425			34,275
Forfeitures		(3,625	)		(1,550	)		(750	)

End of the period		32,275			33,400			33,525

Common Series C Units [Member]

Schedule Of Assumption Used To Determine Fair Value

The following weighted average assumptions were used in determining the fair value of Common Series C Unit grants made during the years ended December 31, 2020, 2019, and 2018:


	Year Ended December 31,
	2020			2019			2018
Grant date fair value	$	201.25		$	37.90		$	167.40
Dividend yield		0.0	%		0.0	%		0.0	%
Expected volatility		75.3	%		41.2	%		36.0	%
Risk-free interest rate		0.2	%		2.5	%		2.3	%
Lack of marketability discount		30.5	%		31.3	%		29.2	%
Expected term (years)		1.0			1.0			1.0

Common Series D Units [Member]

Schedule Of Assumption Used To Determine Fair Value

The following assumptions were used in determining the fair value for the years ended December 31, 2020, 2019, and 2018:


	Year Ended December 31,
	2020			2019			2018
Grant date fair value	$	300.00		$	300.00		$	300.00
Dividend yield		0.0	%		0.0	%		0.0	%
Expected volatility		48.0	%		44.0	%		40.0	%
Risk-free interest rate		0.1	%		1.6	%		2.6	%
Lack of marketability discount		23.0	%		26.0	%		25.0	%
Expected term (years)		1.0			1.0			1.0

Common Series C2 Units [Member]

Schedule Of Assumption Used To Determine Fair Value

The following weighted average assumptions were used in determining the fair value of Common

Series C-2

Unit grants made during the years ended December 31, 2020, 2019 and 2018:


	Year Ended December 31,
	2020			2019			2018
Grant date fair value	$	223.00		$	284.00		$	652.99
Dividend yield		0.0	%		0.0	%		0.0	%
Yield Test Probability		23.3	%		39.0	%		97.1	%
Cost of Equity Capital		11.8	%		11.1	%		12.3	%
Expected term (years)		1.0			2.0			3.0