v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 137,553 $ 3,179
Accounts receivable, net of allowance $801 and $13,031, respectively 262,696 197,600
Inventories, net 107,091 101,530
Contract assets 11,299 5,190
Prepaid expenses and other current assets 9,502 15,637
Total current assets 528,141 323,136
Property, plant and equipment, net 3,912,530 3,377,555
Operating lease right-of-use assets, net 41,244 42,218
Finance lease right-of-use assets, net 47,988 6,500
Goodwill 753,463 408,681
Identifiable intangible assets, net 189,433 154,474
Fair value of derivative instruments 10,128 4,664
Other assets 17,702 789
Total assets 5,500,629 4,318,017
Current liabilities:    
Accounts payable 97,715 72,974
Accrued liabilities 177,727 218,463
Contract liabilities 89,558 94,505
Total current liabilities 365,000 385,942
Long-term debt, net of unamortized debt issuance cost 2,720,989 2,555,250
Operating lease liabilities 39,833 39,391
Finance lease liabilities 45,625 4,405
Deferred tax liabilities 160,661 122,851
Other liabilities 4,097 2,782
Total liabilities 3,336,205 3,110,621
Commitments and Contingencies (Note 13)
Stockholders’ equity:    
Preferred stock, ($50.0 million authorized, $0.01 par value) $0.2 million and 0.3 million shares issued and outstanding as of June 30, 2026, and December 31, 2025, respectively 2 4
Common stock, ($750.0 million shares of common stock authorized, $0.01 par value) $105.4 million and $90.2 million issued and 100.9 million and 85.8 million outstanding as of June 30, 2026, and December 31, 2025, respectively 1,054 903
Additional paid-in capital 2,311,907 1,334,333
Treasury stock, at cost; 4.5 million and 4.5 million shares held as of June 30, 2026, and December 31, 2025, respectively (143,968) (143,968)
Noncontrolling interest 3,159 4,910
Accumulated other comprehensive income (loss) 2,743 (1,586)
(Accumulated deficit) Retained earnings (10,473) 12,800
Total stockholders’ equity 2,164,424 1,207,396
Total liabilities and stockholders’ equity $ 5,500,629 $ 4,318,017

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