v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 675,977 $ 791,555
Restricted cash 21,027 118,558
Accounts receivable, net of allowance for credit losses of $21,116 and $17,953 378,146 311,870
Prepaid expenses and other current assets 93,438 74,055
Total current assets 1,168,588 1,296,038
Property and equipment, net of accumulated depreciation of $1,754,420 and $1,724,044 271,211 255,323
Equity method investments 22,398 23,082
Goodwill 2,383,160 2,384,191
Deferred income taxes 4,473 3,874
Other assets, net 253,451 254,738
Total assets 4,372,441 4,502,128
Current liabilities    
Accounts payable 219,519 260,035
Accrued compensation and related benefits 75,338 103,521
Accrued subscriber incentives 300,374 289,095
Deferred revenues 55,077 58,413
Other accrued liabilities 237,484 256,856
Current portion of debt 252,627 245,651
Total current liabilities 1,140,419 1,213,571
Deferred income taxes 37,542 36,614
Other noncurrent liabilities 174,355 173,172
Long-term debt 4,064,005 4,103,208
Commitments and contingencies (Note 13)
Redeemable noncontrolling interests 11,275 12,057
Stockholders’ deficit    
Common Stock: $0.01 par value; 1,000,000 authorized shares; 439,268 and 427,366 shares issued, 403,568 and 395,004 shares outstanding at June 30, 2026 and December 31, 2025, respectively 4,393 4,274
Additional paid-in capital 3,364,574 3,351,111
Treasury Stock, at cost, 35,700 and 32,362 shares at June 30, 2026 and December 31, 2025, respectively (542,520) (537,197)
Accumulated deficit (3,830,570) (3,802,535)
Accumulated other comprehensive loss (66,211) (66,656)
Noncontrolling interest 15,179 14,509
Total stockholders’ deficit (1,055,155) (1,036,494)
Total liabilities and stockholders’ deficit 4,372,441 4,502,128
Customer Relationships    
Current assets    
Finite lived intangible assets, net 149,951 159,326
Other Intangible Assets    
Current assets    
Finite lived intangible assets, net $ 119,209 $ 125,556