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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows from Operating Activities:    
Net Income (Loss) $ 255,101 $ (27,107)
Adjustments to reconcile net income (loss) to cash flows from operating activities:    
Depreciation 394,971 343,013
Amortization (includes amortization of deferred financing costs and discounts of $16,110 and $15,659 for the six months ended June 30, 2026 and 2025, respectively) 170,373 157,366
Revenue reduction associated with amortization of customer inducements and above- and below-market leases 2,964 2,976
Stock-based compensation expense 85,044 86,448
Provision (benefit) for deferred income taxes 3,468 2,472
Loss (gain) on disposal/write-down of property, plant and equipment, net 19,099 4,609
Loss (gain) associated with the remeasurements of deferred purchase obligations 59,773 0
Foreign currency transactions and other, net (20,940) 46,238
(Increase) decrease in assets (196,314) (135,299)
Increase (decrease) in liabilities 114,274 91,709
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation, Total 887,813 572,425
Cash Flows from Investing Activities:    
Capital expenditures (1,106,206) (1,231,523)
Cash paid for acquisitions, net of cash acquired 0 (34,362)
Acquisition of customer intangibles (40,176) (9,905)
Contract costs (30,310) (41,534)
Investments in joint ventures and other investments, net 2,157 (43,585)
Proceeds from sales of property and equipment and other, net 8,170 10,099
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation, Total (1,166,365) (1,350,810)
Cash Flows from Financing Activities:    
Repayment of revolving credit facility, term loan facilities and other debt (10,667,709) (7,353,497)
Proceeds from revolving credit facility, term loan facilities and other debt 10,046,549 8,991,334
Net proceeds from sale of senior note 1,485,000 0
Equity contribution from noncontrolling interests 95,168 0
Equity distribution to noncontrolling interests (11,424) (3,481)
Parent cash dividends (532,742) (455,236)
Payment of deferred purchase obligations and other deferred payments (6,914) (240,217)
Net (payments) proceeds associated with employee stock-based awards (93,815) (53,120)
Other, net (10,128) (2,915)
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation, Total 303,985 882,868
Effect of Exchange Rates on Cash and Cash Equivalents 20,825 (42,207)
Increase (Decrease) in Cash and Cash Equivalents 46,258 62,276
Cash and Cash Equivalents, Beginning of Period 158,535 155,716
Cash and Cash Equivalents, End of Period 204,793 217,992
Supplemental Information:    
Cash Paid for Interest 461,459 386,391
Cash Paid for Income Taxes, Net 60,679 60,099
Non-Cash Investing and Financing Activities:    
Financing Leases and Other 90,464 141,811
Accrued Capital Expenditures 298,947 242,272
Deferred Purchase Obligations and Other Deferred Payments 7,880 3,600
Dividends Payable $ 266,909 $ 242,395