v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 327,051 $ 264,568
Restricted cash 29,007 167,804
Accounts receivable, net 175,976 171,256
Costs and estimated earnings in excess of billings on uncompleted contracts 24,577 28,152
Prepaid expenses and other current assets 188,161 141,651
Total current assets 744,772 773,431
Property and equipment, net 3,452,615 3,401,799
Intangible assets, net 2,867,780 2,882,117
Operating lease right-of-use assets, net 2,695,380 2,540,229
Acquired and other right-of-use assets, net 1,328,891 1,325,443
Other assets 652,882 651,993
Total assets 11,742,320 11,575,012
Current liabilities:    
Accounts payable 70,062 73,034
Accrued expenses 89,003 93,502
Current maturities of long-term debt 3,578,556 1,935,802
Deferred revenue 156,812 117,309
Accrued interest 66,342 65,036
Current lease liabilities 306,792 299,604
Other current liabilities 69,078 94,014
Total current liabilities 4,336,645 2,678,301
Long-term liabilities:    
Long-term debt, net 9,150,666 10,964,466
Long-term lease liabilities 2,173,052 2,119,258
Other long-term liabilities 626,609 588,244
Total long-term liabilities 11,950,327 13,671,968
Redeemable noncontrolling interests 85,202 78,262
Shareholders’ deficit:    
Preferred stock - par value $0.01, 30,000 shares authorized, no shares issued or outstanding
Common stock - Class A, par value $0.01, 400,000 shares authorized, 106,088 shares and 105,666 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 1,061 1,057
Additional paid-in capital 3,112,691 3,059,427
Accumulated deficit (7,135,584) (7,249,905)
Accumulated other comprehensive loss, net (608,022) (664,098)
Total shareholders' deficit (4,629,854) (4,853,519)
Total liabilities, redeemable noncontrolling interests, and shareholders' deficit $ 11,742,320 $ 11,575,012