v3.26.1
FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis The following tables present the Company’s financial instruments that are measured at fair value
on a recurring basis:
 
June 30, 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
$166,704
$—
$166,704
Time deposits
—
17,000
17,000
Short-term investments:
Time deposits
—
3,228
3,228
Intangible assets:
Digital assets (cost basis of $15,167)
14,353
—
14,353
Total
$181,057
$20,228
$201,285
 
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 (cost basis of $10,167)
7,216
—
7,216
Total
$232,053
$155,351
$387,404
Schedule of Carrying Value and Fair Value of Financial Instruments The following table presents the carrying value and the fair value of financial instruments
measured at fair value only for disclosure purposes.
June 30, 2026
December 31, 2025
Carrying Value
Fair Value
Carrying Value
Fair Value
(In thousands)
Current maturities of long-term debt (a) (b)
$—
$—
$(423,580)
$(416,966)
Long-term debt, net (a) (b)
$(3,551,878)
$(3,420,771)
$(3,549,099)
$(3,450,867)
______________________
(a)At December 31, 2025, the carrying value of current maturities of long-term debt, net includes
unamortized debt issuance costs of $0.3 million. At June 30, 2026 and December 31, 2025, the
carrying value of long-term debt, net includes unamortized original issue discount and debt
issuance costs of $23.1 million and $25.9 million, respectively.
(b)At June 30, 2026, the fair value of the 2030 Exchangeable Notes (described in “Note 4—Long-
term Debt, net”) is $523.4 million. At December 31, 2025, the fair value of the 2026
Exchangeable Notes (described in “Note 4—Long-term Debt, net”) and 2030 Exchangeable
Notes is $417.0 million and $517.0 million, respectively.