v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash, cash equivalents, and restricted cash $ 58 $ 66
Accounts receivable, net 920 896
Inventories 122 145
Prepaid expenses and other current assets 141 132
Total current assets 1,241 1,239
Non-current assets:    
Property, plant, and equipment, net 11,209 11,338
Finance lease right-of-use assets, net 1,067 1,101
Operating lease right-of-use assets, net 595 616
Equity method investments 134 131
Goodwill 3,426 3,466
Other intangible assets, net 1,020 1,090
Other assets 208 204
Total assets 18,900 19,185
Current liabilities:    
Accounts payable and accrued liabilities 1,373 1,331
Accrued dividends and distributions 137 134
Deferred revenue 78 81
Current portion of long-term debt, net 2 2
Total current liabilities 1,590 1,548
Non-current liabilities:    
Long-term finance lease obligations 1,195 1,216
Long-term operating lease obligations 574 599
Deferred income tax liability 279 303
Long-term debt, net 6,220 6,107
Other long-term liabilities 168 169
Total liabilities 10,026 9,942
Commitments and contingencies (Note 15)
Redeemable noncontrolling interests 0 7
Stockholders’ equity:    
Common stock, $0.01 par value per share – 500 authorized shares; 228 issued and outstanding at June 30, 2026 and 227 issued and outstanding at December 31, 2025 2 2
Additional paid-in capital - common stock 10,795 10,780
Retained earnings (accumulated deficit) (2,760) (2,439)
Accumulated other comprehensive income (loss) (144) (97)
Total stockholders’ equity 7,893 8,246
Noncontrolling interests 981 990
Total equity 8,874 9,236
Total liabilities, redeemable noncontrolling interests, and equity $ 18,900 $ 19,185