v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash, cash equivalents and restricted cash $ 203,169 $ 420,642
Accounts receivable, net of allowance for credit losses of $16,442 and $14,469 at June 30, 2026 and December 31, 2025, respectively 919,665 723,277
Inventory 140,750 160,280
Other current assets 108,603 113,892
Total current assets 1,372,187 1,418,091
Property and equipment, net 2,598,413 2,711,037
Operating lease right of use asset 42,093 42,982
Finance lease right of use asset 8,177 14,932
Goodwill 487,388 487,388
Intangible assets, net 755,241 814,810
Deposits on equipment purchases 19,960 11,757
Other assets 89,215 69,469
Total assets 5,372,674 5,570,466
Current liabilities:    
Accounts payable 513,173 470,782
Accrued liabilities 248,334 366,488
Operating lease liability 17,025 18,652
Finance lease liability 5,614 7,720
Total current liabilities 784,146 863,642
Long-term operating lease liability 27,588 27,607
Long-term finance lease liability 1,181 5,453
Long-term debt, net of debt discount and issuance costs of $10,722 and $6,362 at June 30, 2026 and December 31, 2025, respectively 1,234,173 1,221,038
Deferred tax liabilities, net 203,228 215,818
Other liabilities 15,827 12,193
Total liabilities 2,266,143 2,345,751
Commitments and contingencies (see Note 9)
Stockholders’ equity:    
Common stock, par value $0.01; authorized 800,000,000 shares with 526,633,185 and 523,736,898 issued and 381,380,305 and 379,301,646 outstanding at June 30, 2026 and December 31, 2025, respectively 5,265 5,236
Additional paid-in capital 6,505,770 6,492,862
Retained earnings (deficit) (1,378,630) (1,257,691)
Accumulated other comprehensive income (loss) (2,337) (1,155)
Treasury stock, at cost, 145,252,880 and 144,435,252 shares at June 30, 2026 and December 31, 2025, respectively (2,030,192) (2,020,714)
Total stockholders’ equity attributable to controlling interests 3,099,876 3,218,538
Noncontrolling interest 6,655 6,177
Total equity 3,106,531 3,224,715
Total liabilities and stockholders’ equity $ 5,372,674 $ 5,570,466