Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investments (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investments |
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| Schedule of marketable investment securities, restricted cash and cash equivalents, and other investments |
| | | | | | | | | As of | | | June 30, | | December 31, | | | 2026 | | 2025 | | | | (In thousands) | Marketable investment securities: | | | | | | | Current marketable investment securities: | | | | | | | Strategic - available-for-sale | | $ | 51 | | $ | 51 | Strategic - trading/equity | | | 48,272 | | | 37,378 | Other | | | 7,882 | | | 1,063,462 | Total current marketable investment securities | | | 56,205 | | | 1,100,891 | Restricted marketable investment securities (1) | | | 107,429 | | | 52,960 | Total marketable investment securities | | | 163,634 | | | 1,153,851 | | | | | | | | Restricted cash and cash equivalents (1) | | | 1,003,330 | | | 299,081 | | | | | | | | Other investments, net: | | | | | | | Equity method investments | | | 67,547 | | | 85,014 | Other investments | | | 145,015 | | | 109,032 | Total other investments, net | | | 212,562 | | | 194,046 | | | | | | | | Total marketable investment securities, restricted cash and cash equivalents, and other investments, net | (2) | $ | 1,379,526 | | $ | 1,646,978 |
| (1) | Restricted marketable investment securities and restricted cash and cash equivalents are included in “Current restricted cash, cash equivalents and marketable investment securities” and “Restricted cash, cash equivalents and marketable investment securities” on our Condensed Consolidated Balance Sheets and discussed below. |
| (2) | The June 30, 2026 decreases primarily resulted from the Deconsolidated Subsidiaries. See Note 3 for further information. |
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| Schedule of fair value measurements |
| | | | | | | | | | | | | | | | | | | | | | | | | | | As of | | | June 30, 2026 | | December 31, 2025 | | | Level 1 | | Level 2 | | Level 3 | | Total | | Level 1 | | Level 2 | | Level 3 | | Total | | | | (In thousands) | Cash and cash equivalents (including restricted): | | | | | | | | | | | | | | | | | | | | | | | | | Cash | | $ | 405,271 | | $ | — | | $ | — | | $ | 405,271 | | $ | 420,971 | | $ | — | | $ | — | | $ | 420,971 | Cash equivalents | | | 286,148 | | | 751,899 | | | — | | | 1,038,047 | | | 407,354 | | | 1,353,830 | | | — | | | 1,761,184 | Total | | $ | 691,419 | | $ | 751,899 | | $ | — | | $ | 1,443,318 | | $ | 828,325 | | $ | 1,353,830 | | $ | — | | $ | 2,182,155 | | | | | | | | | | | | | | | | | | | | | | | | | | Debt securities (including restricted): | | | | | | | | | | | | | | | | | | | | | | | | | U.S. Treasury and agency securities | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | Commercial paper | | | — | | | — | | | — | | | — | | | — | | | 370,755 | | | — | | | 370,755 | Corporate securities | | | — | | | 106,994 | | | — | | | 106,994 | | | — | | | 731,195 | | | — | | | 731,195 | Other | | | — | | | 8,317 | | | 51 | | | 8,368 | | | — | | | 14,472 | | | 51 | | | 14,523 | Equity securities | | | 48,272 | | | — | | | — | | | 48,272 | | | 37,378 | | | — | | | — | | | 37,378 | Total | | $ | 48,272 | | $ | 115,311 | | $ | 51 | | $ | 163,634 | | $ | 37,378 | | $ | 1,116,422 | | $ | 51 | | $ | 1,153,851 |
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| Schedule of gains and losses on sales and changes in carrying amounts of investments and other |
| | | | | | | | | | | | | | | For the Three Months Ended | | For the Six Months Ended | | | June 30, | | June 30, | Other, net: | | 2026 | | 2025 | | 2026 | | 2025 | | | | (In thousands) | Realized and unrealized gains (losses) and impairments on investments and other | | $ | 11,209 | | $ | (8,377) | | $ | 8,472 | | $ | 15,925 | Early debt redemption gains (losses) | | | — | | | — | | | — | | | 11,465 | Foreign currency transaction gains (losses) | | | 932 | | | 3,429 | | | 2,792 | | | 5,678 | Equity in earnings (losses) of affiliates | | | 3,251 | | | 2,539 | | | 6,101 | | | 4,183 | Asset sales and other gains (losses) | | | — | | | 37,441 | | | — | | | 37,441 | Other | | | 1,060 | | | 105 | | | 1,271 | | | 1,835 | Total | | $ | 16,452 | | $ | 35,137 | | $ | 18,636 | | $ | 76,527 |
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