Array consolidates VIEs in which it has a controlling financial interest as defined by GAAP and is therefore deemed the primary beneficiary. Array reviews the criteria for a controlling financial interest at the time it enters into agreements and subsequently when events warranting reconsideration occur. These VIEs have risks similar to those described in the “Risk Factors” in this Form 10-Q and Array's Form 10-K for the year ended December 31, 2025.

Array consolidates VIEs that are limited partnerships that lease tower space to tenants. A limited partnership is a variable interest entity unless the limited partners hold substantive participating rights or kick-out rights over the general partner. For certain limited partnerships, Array is the general partner and manages the operations. In these partnerships, the limited partners do not have substantive kick-out or participating rights and, further, such limited partners do not have the authority to remove the general partner. Therefore, these limited partnerships also are recognized as VIEs and are consolidated into the Array financial statements under the variable interest model.

The following table presents the classification and balances of the consolidated VIEs’ assets and liabilities in Array’s Consolidated Balance Sheet.


	June 30, 2026		December 31, 2025
(Dollars in thousands)
Assets


Accounts receivable	$	1,297	$	1,445

Other current assets	173		338


Non-current assets held for sale	—		1,853
Property, plant and equipment, net	16,353		16,997
Operating lease right-of-use assets	22,734		23,219
Other assets and deferred charges	1,346		1,145
Total assets	$	41,903	$	44,997

Liabilities
Current liabilities	$	1,803	$	2,928

Long-term operating lease liabilities	24,661		25,157
Other deferred liabilities and credits	12,339		13,535
Total liabilities	$	38,803	$	41,620

Array made contributions, loans or advances to its VIEs totaling $3.0 million and $4.5 million during the six months ended June 30, 2026 and 2025, respectively.