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Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investments (Tables) | 6 Months Ended
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Jun. 30, 2026
Marketable Investment Securities, Restricted Cash and Cash Equivalents, and Other Investments |
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.
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
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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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of realized and unrealized gain (loss) on investment in security. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(9)(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(7)(c)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 + Details
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