Financial Instruments and Risk Management (Tables)
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3 Months Ended |
Mar. 31, 2026 |
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| Disclosure of detailed information about financial instruments [abstract] |
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| Summary of Changes in Liabilities Arising from Financing Activities |
Changes in liabilities arising from financing activities
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January 1, 2026 |
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Payments |
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Proceeds from long-term debt |
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Transaction costs incurred for long-term debt |
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Reclassifications and other |
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March 31, 2026 |
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(in USD and thousands) |
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Current portion of long-term debt |
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$ |
374,607 |
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$ |
(234,909 |
) |
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$ |
— |
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$ |
— |
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$ |
37,296 |
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$ |
176,994 |
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Long-term debt |
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5,127,368 |
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— |
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336,073 |
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(3,662 |
) |
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(41,518 |
) |
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5,418,261 |
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Short-term portion of lease liabilities |
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26,484 |
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(6,854 |
) |
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— |
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— |
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8,310 |
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27,940 |
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Long-term portion of lease liabilities |
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212,437 |
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— |
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— |
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— |
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(6,830 |
) |
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205,607 |
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Total liabilities from financing activities |
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$ |
5,740,896 |
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$ |
(241,763 |
) |
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$ |
336,073 |
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$ |
(3,662 |
) |
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$ |
(2,742 |
) |
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$ |
5,828,802 |
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January 1, 2025 |
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Payments |
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Proceeds from long-term debt |
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Transaction costs incurred for long-term debt |
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Reclassifications and other |
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March 31, 2025 |
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(in USD and thousands) |
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Current portion of long-term debt |
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$ |
469,766 |
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$ |
(54,054 |
) |
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$ |
— |
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$ |
— |
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$ |
51,285 |
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$ |
466,997 |
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Long-term debt |
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4,866,159 |
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— |
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— |
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— |
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(20,606 |
) |
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4,845,553 |
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Short-term portion of lease liabilities |
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28,944 |
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(6,726 |
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— |
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— |
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6,370 |
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28,588 |
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Long-term portion of lease liabilities |
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207,594 |
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— |
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— |
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— |
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(12,712 |
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194,882 |
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Total liabilities from financing activities |
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$ |
5,572,463 |
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$ |
(60,780 |
) |
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$ |
— |
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$ |
— |
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$ |
24,337 |
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$ |
5,536,020 |
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| Summary of Carrying Amount and Fair Value of Financial Assets and Liabilities |
The carrying amounts of the Group’s financial assets and liabilities all approximate the fair values of those assets and liabilities as of March 31, 2026 and December 31, 2025, except for fixed interest debt, as outlined below:
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Carrying amount |
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Fair value |
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(in USD and thousands) |
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March 31, |
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December 31, |
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March 31, |
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December 31, |
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Financial assets |
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2026 |
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2025 |
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2026 |
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2025 |
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Forward foreign currency contracts |
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$ |
26,484 |
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$ |
40,615 |
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$ |
26,484 |
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$ |
40,615 |
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Accounts and other receivables and prepaid expenses and other current assets |
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11,019 |
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20,000 |
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11,019 |
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20,000 |
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Other non-current assets |
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45,202 |
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34,984 |
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45,202 |
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34,984 |
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Total financial assets |
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$ |
82,705 |
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$ |
95,599 |
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$ |
82,705 |
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$ |
95,599 |
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Total current |
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$ |
37,503 |
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$ |
60,615 |
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$ |
37,503 |
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$ |
60,615 |
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Total non-current |
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$ |
45,202 |
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$ |
34,984 |
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$ |
45,202 |
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$ |
34,984 |
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Carrying amount |
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Fair value |
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(in USD and thousands) |
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March 31, |
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December 31, |
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March 31, |
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December 31, |
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Financial liabilities |
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2026 |
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2025 |
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2026 |
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2025 |
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Forward foreign currency contracts |
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$ |
4,823 |
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$ |
— |
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$ |
4,823 |
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$ |
— |
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Debt |
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5,595,255 |
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5,501,975 |
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5,863,438 |
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5,735,931 |
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Total financial liabilities |
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$ |
5,600,078 |
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$ |
5,501,975 |
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$ |
5,868,261 |
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$ |
5,735,931 |
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Total current |
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$ |
177,920 |
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$ |
374,607 |
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$ |
200,120 |
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$ |
401,464 |
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Total non-current |
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$ |
5,422,158 |
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$ |
5,127,368 |
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$ |
5,668,141 |
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$ |
5,334,467 |
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| Summary of Fair Value Hierarchy for Group's Financial Assets and Liabilities |
As of March 31, 2026 and December 31, 2025, designation within the fair value hierarchy for the Group’s financial assets and liabilities is outlined below:
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Carrying amount |
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Fair value |
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(in USD and thousands) |
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March 31, |
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December 31, |
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March 31, |
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December 31, |
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Financial assets |
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2026 |
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2025 |
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2026 |
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2025 |
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Level 1 |
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Cash deposits |
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$ |
56,221 |
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$ |
54,984 |
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$ |
56,221 |
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$ |
54,984 |
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Level 2 |
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Forward foreign currency contracts |
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26,484 |
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40,615 |
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26,484 |
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40,615 |
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Total financial assets |
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$ |
82,705 |
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$ |
95,599 |
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$ |
82,705 |
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$ |
95,599 |
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Carrying amount |
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Fair value |
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(in USD and thousands) |
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March 31, |
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December 31, |
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March 31, |
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December 31, |
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Financial liabilities |
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2026 |
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2025 |
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2026 |
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2025 |
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Level 2 |
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Forward foreign currency contracts |
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$ |
4,823 |
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$ |
— |
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$ |
4,823 |
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$ |
— |
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Debt |
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5,595,255 |
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5,501,975 |
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5,863,438 |
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5,735,931 |
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Total financial liabilities |
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$ |
5,600,078 |
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$ |
5,501,975 |
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$ |
5,868,261 |
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$ |
5,735,931 |
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