v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 811,986 $ 618,696
Financial royalty assets 889,454 854,386
Available for sale debt securities 25,000 18,800
Other royalty income receivable 31,474 29,316
Other current assets 6,656 6,893
Total current assets 1,764,570 1,528,091
Financial royalty assets, net 16,192,717 16,208,482
Equity securities 241,918 171,312
Available for sale debt securities 372,100 419,000
Equity method investments 261,973 289,968
Goodwill 923,535 924,634
Other assets 62,958 79,293
Total assets 19,819,771 19,620,780
Current liabilities    
Distributions payable to non-controlling interests 91,280 72,825
Accounts payable and accrued liabilities 35,566 19,404
Interest payable 107,766 110,818
Current portion of long-term debt 380,000 380,000
Other current liabilities 16,316 53,164
Total current liabilities 630,928 636,211
Long-term debt 8,581,892 8,570,917
Accrued compensation liabilities 713,219 577,870
Other liabilities 108,018 120,843
Total liabilities 10,034,057 9,905,841
Commitments and contingencies
Shareholders’ equity    
Deferred shares, $0.000001 par value; issued and outstanding: 2026–430,189 and 2025–411,475 0 0
Additional paid-in capital 4,376,266 4,123,088
Retained earnings 2,459,089 2,356,318
Non-controlling interests 2,952,975 3,238,039
Treasury interests (2,724) (2,612)
Total shareholders’ equity 9,785,714 9,714,939
Total liabilities and shareholders’ equity 19,819,771 19,620,780
Class A Ordinary Shares    
Shareholders’ equity    
Common stock 45 43
Class B Ordinary Shares    
Shareholders’ equity    
Common stock 0 0
Class R Redeemable Shares    
Shareholders’ equity    
Common stock $ 63 $ 63