v3.25.4
Consolidated Balance Sheet - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 113,400 $ 143,730
Accounts receivable    
Other, less allowances of $3,090 and $1,540, respectively 14,236 11,473
Prepaid expenses 3,216 7,060
Current assets of discontinued operations 0 1,163,032
Other current assets 6,515 18,319
Total current assets 144,787 1,344,870
Non-current assets held for sale 1,591,675 12
Non-current assets of discontinued operations 0 4,499,069
Licenses 1,642,187 3,281,508
Investments in unconsolidated entities 412,608 453,938
Property, plant and equipment, net of accumulated depreciation and amortization of $690,007 and $653,624, respectively 388,999 384,021
Operating lease right-of-use assets 472,995 465,274
Other assets and deferred charges 24,837 20,289
Total assets [1] 4,678,088 10,448,981
Current liabilities    
Current portion of long-term debt 4,063 22,000
Accounts payable    
Trade 27,892 26,732
Customer deposits and deferred revenues 85,945 1,716
Accrued taxes 16,884 27,077
Accrued compensation 4,322 89,476
Short-term operating lease liabilities 15,294 16,133
Current liabilities of discontinued operations 20,242 671,575
Other current liabilities 14,843 19,340
Total current liabilities 199,988 883,771
Non-current liabilities of discontinued operations 0 2,310,660
Deferred liabilities and credits    
Deferred income tax liability, net 387,030 728,229
Long-term operating lease liabilities 509,876 495,736
Other deferred liabilities and credits 336,379 221,376
Long-term debt, net 670,258 1,201,725
Commitments and contingencies
Noncontrolling interests with redemption features 0 15,831
Array shareholders’ equity    
Series A Common and Common Shares Authorized 190,000 shares (50,000 Series A Common and 140,000 Common Shares) Issued 88,074 shares (33,006 Series A Common and 53,374 Common Shares) Outstanding 86,380 shares (33,006 Series A Common and 53,374 Common Shares) and 85,094 shares (33,006 Series A Common and 52,088 Common Shares), respectively Par Value ($1.00 per share) ($33,006 Series A Common and $55,068 Common Shares) 88,074 88,074
Additional paid-in capital 1,795,369 1,782,219
Treasury shares, at cost, 1,694 and 2,980 Common Shares, respectively (85,606) (111,589)
Retained earnings 769,789 2,818,002
Total Array shareholders' equity 2,567,626 4,576,706
Noncontrolling interests 6,931 14,947
Total equity 2,574,557 4,591,653
Total liabilities and equity [1] 4,678,088 10,448,981
Affiliated    
Accounts receivable    
Affiliated 7,420 1,256
Accounts payable    
Affiliated $ 10,503 $ 9,722
[1] The consolidated total assets as of December 31, 2025 and 2024, include assets held by current consolidated variable interest entities (VIEs) of $45.0 million and $193.4 million, respectively, which are not available to be used to settle the obligations of Array. The consolidated total liabilities as of December 31, 2025 and 2024, include certain liabilities of current consolidated VIEs of $11.1 million and $24.6 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of Array. See Note 14 — Variable Interest Entities for additional information.