FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2026

The following tables present the Company’s financial instruments that are measured at fair value

on a recurring basis:


	March 31, 2026
	Quoted Market Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Total Fair Value Measurements

	(In thousands)
Assets:
Cash equivalents:
Money market funds	$172,537	$—	$172,537
Time deposits	—	147,883	147,883
Short-term investments:
Time deposits	—	3,298	3,298
Intangible assets:
Digital assets (cost basis of $10,167)	4,174	—	4,174
Total	$176,711	$151,181	$327,892


	December 31, 2025
	Quoted Market Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Total Fair Value Measurements

	(In thousands)
Assets:
Cash equivalents:
Money market funds	$224,837	$—	$224,837
Time deposits	—	151,890	151,890
Short-term investments:
Time deposits	—	3,461	3,461
Intangible assets:
Digital assets Digital assets (cost basis of $10,167)	7,216	—	7,216
Total	$232,053	$155,351	$387,404

The following table presents the carrying value and the fair value of financial instruments

measured at fair value only for disclosure purposes.


	March 31, 2026		December 31, 2025
	Carrying Value	Fair Value	Carrying Value	Fair Value

	(In thousands)
Current maturities of long-term debt (a) (b)	$(423,729)	$(420,675)	$(423,580)	$(416,966)
Long-term debt, net (a) (b)	$(3,550,473)	$(3,381,932)	$(3,549,099)	$(3,450,867)

______________________

(a)At March 31, 2026, the carrying value of current maturities of long-term debt, net includes

unamortized debt issuance costs of $0.1 million. At March 31, 2026 and December 31, 2025,

the carrying value of long-term debt, net includes unamortized original issue discount and debt

issuance costs of $24.5 million and $25.9 million, respectively.

(b)At March 31, 2026, the fair value of the 2026 Exchangeable Notes and 2030 Exchangeable

Notes (described in “Note 4—Long-term Debt, net”) is $420.7 million and $512.8 million,

respectively. At December 31, 2025, the fair value of the 2026 Exchangeable Notes and 2030

Exchangeable Notes is $417.0 million and $517.0 million, respectively.