Registration of securities issued in business combination transactions

Organization and Description of Business (Tables)

v3.22.2.2
Organization and Description of Business (Tables)
6 Months Ended
Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Redeemable Noncontrolling Interests
From January 1, 2022 through June 30, 2022, we recorded adjustments to the value of our redeemable noncontrolling interests as shown below:
 
    
Redeemable Noncontrolling
Interests
 
(in thousands)
  
2022
 
Balance as of January 1, 2022
   $ —    
Effect of corporate reorganization and reclassification to redeemable noncontrolling interest
     382,050  
Adjustment of redeemable noncontrolling interest to redemption amount at IPO
(1)
     1,438,348  
Class A common stock issued to settle asset purchase
     21,361  
Net income after corporate reorganization
     16,082  
Stock-based compensation
     660  
Stock-based compensation related to deemed contribution
     27,597  
Accrued distribution related to income taxes
     (15,644
Adjustment of redeemable noncontrolling interest to redemption amount
(2)
     154,233  
    
 
 
 
Balance as of June 30, 2022
   $ 2,024,687  
 
(1)
Based on 101,133,201 shares of Class B Common Stock outstanding and the $18.00 per share IPO price.
(2)
Based on 101,133,201 shares of Class B Common Stock outstanding and the
10
-day
VWAP of Class A Common Stock of $20.02 at June 30, 2022.