Variable Interest Entities

3 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities

Variable Interest Entities

As of March 31, 2026, and December 31, 2025, the total assets of the Company’s variable interest entities were $294.8 million and $261.9 million, respectively, and were principally comprised of accounts receivable. As of March 31, 2026, and December 31, 2025, the total liabilities of the Company’s variable interest entities were $65.3 million and $70.1 million, respectively, and were principally comprised of accounts payable and accrued expenses. These variable interest entities have obligations payable for services received under their management agreements with the Company of $217.2 million and $180.1 million as of March 31, 2026, and December 31, 2025, respectively. These intercompany balances are eliminated in consolidation.