Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes consisted of:

	Year Ended December 31,
(in millions)	2024		2023		2022
Federal
Current	$	0.2	$	0.1	$	0.1
Deferred taxes and other accruals		59.1		31.2		22.8
State		12.5		6.6		3.7
Total provision for income taxes	$	71.8	$	37.9	$	26.6

Summary of Difference between the Effective Income Tax Rate and U.S. Statutory Rate

The difference between the effective income tax rate and the U.S. statutory rate is reconciled below:

	Year Ended December 31,
	2024				2023				2022
U.S. statutory rate		21.0		%		21.0		%		21.0		%
Noncontrolling interest in partnership		(12.5	)			(15.9	)			(17.4	)
State income taxes, net of federal income tax		1.4				0.8				0.5
Effective rate		9.9		%		5.9		%		4.1		%

Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities are as follows:

	December 31,
	2024			2023
(in millions)
Deferred tax liabilities
Investments	$	(0.5	)	$	(0.5	)
Total deferred tax liabilities		(0.5	)		(0.5	)
Deferred tax assets
Investments		514.5			278.2
Net operating loss carryforwards		68.1			46.2
Total deferred tax assets		582.6			324.4
Net deferred tax assets (liabilities)	$	582.1		$	323.9