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Condensed Consolidated Statements of Stockholders' Equity - USD ($)
$ in Thousands
Total
Common Stock
Class A Common Stock
Common Stock
Class B Common Stock
Additional Paid In Capital
Retained Earnings
Pre-Spin Predecessors Equity
Beginning balance at Dec. 31, 2023 $ 4,458,961         $ 4,458,961
Net income (loss) (116,748)         (116,748)
Stock based compensation 8,863         8,863
Contributions to Predecessor $ (581,922)         (581,922)
Ending balance, Shares at Jun. 30, 2024 0          
Ending balance at Jun. 30, 2024 $ 3,769,154         3,769,154
Beginning balance at Mar. 31, 2024 4,242,853         4,242,853
Net income (loss) (59,761)         (59,761)
Stock based compensation 1,705         1,705
Contributions to Predecessor $ (415,643)         415,643
Ending balance, Shares at Jun. 30, 2024 0          
Ending balance at Jun. 30, 2024 $ 3,769,154         3,769,154
Beginning balance at Dec. 31, 2024 5,158,372         5,158,372
Net income (loss) 152,566       $ 177,526 (24,960)
Adjustment for expenses from pre-spin periods 24,960         24,960
Common stock issued, Spin-Off, Shares   120,983,633 11,819,811      
Common stock issued, Spin-Off   $ 1,210 $ 118 $ (1,328)    
Common stock retained by Lennar at Spin-Off, Shares   33,200,053        
Common stock retained by Lennar at Spin-Off   $ 332   (332)    
Contributions from Lennar, Spin-Off 5,874,166     5,874,166    
Reversal of predecessor equity (5,158,372)         $ (5,158,372)
Stock based compensation 181     181    
Dividends declared (177,624)       (177,624)  
Ending balance, Shares at Jun. 30, 2025   154,183,686 11,819,811      
Ending balance at Jun. 30, 2025 5,874,249 $ 1,542 $ 118 5,872,687 (98)  
Beginning balance, Shares at Mar. 31, 2025   154,183,686 11,819,811      
Beginning balance at Mar. 31, 2025 5,875,851 $ 1,542 $ 118 5,872,506 1,685  
Net income (loss) 112,760       112,760  
Stock based compensation 181     181    
Dividends declared (114,543)       (114,543)  
Ending balance, Shares at Jun. 30, 2025   154,183,686 11,819,811      
Ending balance at Jun. 30, 2025 $ 5,874,249 $ 1,542 $ 118 $ 5,872,687 $ (98)