Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 272,115 $ 305,004
Restricted cash 17,029 18,710
Short-term investments 7,212 6,465
Trade receivables, net 160,336 87,331
Inventory 206,335 190,707
Other current assets 106,649 109,520
Total current assets 769,676 717,737
Non-current assets:    
Property and equipment, net 750,615 739,570
Right-of-use assets under operating leases 1,328,394 1,340,450
Right-of-use assets under financing leases, net 135,289 144,601
Goodwill 299,973 299,973
Intangible assets, net 154,596 160,136
Equity investment 3,136 3,117
Deferred tax asset 68,101 62,625
Other non-current assets 68,984 66,603
Total assets 3,578,764 3,534,812
Current liabilities:    
Long-term debt, current portion 13,398 36,676
Accounts payable 202,266 156,616
Other current liabilities 173,317 148,340
Operating leases, current portion 79,783 78,162
Financing leases, current portion 6,310 13,239
Total current liabilities 475,074 433,033
Non-current liabilities:    
Long-term debt, net 691,048 875,469
Asset retirement obligation 89,742 89,304
Operating leases 1,364,430 1,374,101
Financing leases 198,099 199,691
Other non-current liabilities 200,312 195,975
Total liabilities 3,018,705 3,167,573
Commitments and contingencies - see Note 12
Series A redeemable preferred stock (no par value) - authorized: 1,000,000 shares; issued and outstanding: 1,000,000 and 1,000,000 shares, respectively; redemption value: $100,000 and $100,000, in the aggregate respectively 100,000 100,000
Shareholders' equity:    
Common stock (par value $0.0001) - authorized: 400,000,000 shares; issued: 133,845,915 and 131,853,614 shares, respectively; outstanding: 112,183,702 and 110,860,618 shares, respectively 11 11
Treasury stock, at cost - 21,662,213 and 20,992,996 shares, respectively (138,584) (134,293)
Additional paid-in capital 435,736 291,853
Accumulated other comprehensive income 9,119 9,119
Retained earnings 89,124 100,549
Total shareholders' equity 395,406 267,239
Non-controlling interest 64,653 0
Total equity 460,059 267,239
Total liabilities, redeemable preferred stock and equity $ 3,578,764 $ 3,534,812