v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 269,064 $ 264,568
Restricted cash 58,773 167,804
Accounts receivable, net 161,474 171,256
Costs and estimated earnings in excess of billings on uncompleted contracts 23,326 28,152
Prepaid expenses and other current assets 254,856 141,651
Total current assets 767,493 773,431
Property and equipment, net 3,415,936 3,401,799
Intangible assets, net 2,880,040 2,882,117
Operating lease right-of-use assets, net 2,678,715 2,540,229
Acquired and other right-of-use assets, net 1,332,453 1,325,443
Other assets 646,207 651,993
Total assets 11,720,844 11,575,012
Current liabilities:    
Accounts payable 63,549 73,034
Accrued expenses 85,444 93,502
Current maturities of long-term debt 2,683,531 1,935,802
Deferred revenue 103,650 117,309
Accrued interest 38,753 65,036
Current lease liabilities 304,960 299,604
Other current liabilities 65,803 94,014
Total current liabilities 3,345,690 2,678,301
Long-term liabilities:    
Long-term debt, net 10,276,200 10,964,466
Long-term lease liabilities 2,151,367 2,119,258
Other long-term liabilities 613,488 588,244
Total long-term liabilities 13,041,055 13,671,968
Redeemable noncontrolling interests 85,744 78,262
Shareholders’ deficit:    
Preferred stock - par value $0.01, 30,000 shares authorized, no shares issued or outstanding
Common stock - Class A, par value $0.01, 400,000 shares authorized, 106,063 shares and 105,666 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 1,061 1,057
Additional paid-in capital 3,084,883 3,059,427
Accumulated deficit (7,200,856) (7,249,905)
Accumulated other comprehensive loss, net (636,733) (664,098)
Total shareholders' deficit (4,751,645) (4,853,519)
Total liabilities, redeemable noncontrolling interests, and shareholders' deficit $ 11,720,844 $ 11,575,012