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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of Loss before Income Taxes for Domestic and Foreign Locations |
| Years Ended December 31,
(in thousands) | 2025 |  | 2024 |  | 2023
United States | $ | 830,266 |  |  | $ | 808,476 |  |  | $ | 601,370 |
Foreign | 3,546 |  |  | 6,694 |  |  | 3,013 |
Income (loss) from continuing operations before income taxes and equity in net earnings (losses) of equity method investee | $ | 833,812 |  |  | $ | 815,170 |  |  | $ | 604,383 |
Schedule of Components of Income Tax Expense (Benefit) | Components of Income Tax Benefit (Expense)(1)
| Years Ended December 31,
(in thousands) | 2025 |  | 2024 |  | 2023
Current: |  |  |  |  |
Federal | $ | (52,668) |  |  | $ | 1,027 |  |  | $ | (358) |
State | (35,746) |  |  | (13,829) |  |  | (57,024) |
Foreign | (1,156) |  |  | (2,096) |  |  | (923) |
Current income tax benefit (expense) | (89,570) |  |  | (14,898) |  |  | (58,305) |
Deferred: |  |  |  |  |
Federal | (127,530) |  |  | (105,711) |  |  | (136,457) |
State | (14,505) |  |  | (33,702) |  |  | 11,704 |
Foreign | (155) |  |  | (170) |  |  | (194) |
Deferred income tax benefit (expense) | (142,190) |  |  | (139,583) |  |  | (124,947) |
Total income tax benefit (expense) | $ | (231,760) |  |  | $ | (154,481) |  |  | $ | (183,252) |
___________________ (1)The components of tax benefit (expense) include both continuing and discontinued operations for all periods presented in accordance with Accounting Standards Codification (“ASC”) 740. This presentation is to reflect the Company’s tax structure and filings. Income tax benefit (expense) is included in the Consolidated Statements of Operations as follows:
| Years Ended December 31,
(in thousands) | 2025 |  | 2024 |  | 2023
Continuing Operations: |  |  |  |  |
Federal | $ | (181,437) |  |  |  |  |
State | (50,546) |  |  |  |  |
Foreign | (1,311) |  |  |  |  |
Continuing operations(1) | $ | (233,294) |  |  | $ | (195,780) |  |  | $ | (160,585) |
Discontinued operations | 1,534 |  |  | 41,299 |  |  | (22,667) |
Total income tax benefit (expense) | $ | (231,760) |  |  | $ | (154,481) |  |  | $ | (183,252) |
___________________ (1)The components of income tax benefit (expense) from continuing operations are only required for the year ended December 31, 2025 due to the Company’s adoption of ASU 2023-09 on a prospective basis.
Schedule of Effective Income Tax Rate Reconciliation |
| Year Ended December 31, 2025(1)
| Amount ($) |  | Percent (%)
U.S. federal statutory tax rate | $ | 175,101 |  |  | 21.0 | %
State and local income taxes, net of federal income tax effects(2) | 39,993 |  |  | 4.8 | %
Foreign tax effects | 1,330 |  |  | 0.2 | %
Tax Credits | (1,452) |  |  | (0.2) | %
Nontaxable or nondeductible items | 10,673 |  |  | 1.3 | %
Changes in unrecognized tax benefits | 6,408 |  |  | 0.8 | %
Other adjustments | 1,241 |  |  | 0.1 | %
Income tax expense (benefit) and effective tax rate | $ | 233,294 |  |  | 28.0 | %
___________________ (1)The Company adopted ASU 2023-09 effective January 1, 2025, on a prospective basis, which is reflected in the table above. (2)The following state taxes made up the majority (greater than 50%) of the tax effect in this category: California, Florida, New York, New Jersey, Illinois.
|  |  | Years Ended December 31,
|  |  | 2024 |  | 2023
Statutory federal tax rate |  |  | 21.0 | % |  | 21.0 | %
State income taxes, net of federal benefits |  |  | 5.4 | % |  | 6.1 | %
Non-U.S. tax |  |  | 0.3 | % |  | 0.2 | %
Non-deductible and non-taxable charges |  |  | 0.8 | % |  | 1.0 | %
Unrecognized tax benefits |  |  | (4.0) | % |  | (1.0) | %
Share-based compensation |  |  | 0.1 | % |  | — | %
Non-deductible goodwill on dispositions |  |  | — | % |  | 0.7 | %
Federal credits |  |  | 0.1 | % |  | (0.6) | %
Acquisitions and dispositions |  |  | 1.2 | % |  | (0.9) | %
Legislative changes |  |  | (0.4) | % |  | 0.6 | %
Prior year return adjustments |  |  | (0.6) | % |  | (0.6) | %
Other |  |  | 0.1 | % |  | 0.1 | %
Effective tax rate |  |  | 24.0 | % |  | 26.6 | %
Schedule of Income Taxes Paid | The following table summarizes supplementary cash flow information and material non-cash investing and financing transactions, excluding leases (refer to Note 14 “Leases”):
| Years Ended December 31, |  |
(in thousands) | 2025 |  | 2024 |  | 2023 |  |
Interest paid, net of interest income received(1) | $ | 409,415 |  |  | $ | 372,036 |  |  | $ | 522,775 |  |  |
Payments (refunds) on income taxes, net(2) | $ | 142,168 |  |  | $ | 21,700 |  |  | $ | 60,296 |  |  |
Forward share repurchase contract(3) | $ | — |  |  | $ | 104,175 |  |  | $ | — |  |  |
___________________ (1)Includes interest on finance leases (refer to Note 14 “Leases”) and interest rate swaps (refer to Note 8 “Derivative Financial Instruments”). (2)Refer to Note 9 “Income Taxes” for disclosures on income taxes paid as a result of the adoption of ASU 2023-09, which the Company adopted on a prospective basis. (3)In December 2024, the Company entered into an agreement with a non-affiliate individual to repurchase 15 million shares of Common Stock at a price per share of $6.95, which settled in January 2025 (refer to Note 10 “Equity”). The Company recorded a liability and a reduction to additional paid-in capital as of December 31, 2024. Income Taxes Paid (Net of Refunds Received)
| Year Ended December 31,
(in thousands) | 2025
Federal | $ | 105,500 |
State | 35,259 |
Foreign | 1,409 |
Total (1) | $ | 142,168 |
___________________ (1)The Company adopted ASU 2023-09, effective January 1, 2025, on a prospective basis, which is reflected in the table above. Cash Flow and Supplemental Information(1)
|  | Years Ended December 31,
(in thousands) |  | 2025 |  | 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |
Operating leases: |  |  |  |  |  |
Operating cash flows |  | $ | 27,640 |  |  | $ | 23,574 |  |  | $ | 42,883 |
Finance Leases: |  |  |  |  |  |
Operating cash flows |  | $ | 3,302 |  |  | $ | 4,686 |  |  | $ | 4,940 |
Financing cash flows |  | $ | 30,209 |  |  | $ | 29,023 |  |  | $ | 43,733 |
Right-of-use assets obtained in exchange for lease obligations |  |  |  |  |  |
Operating leases |  | $ | 22,857 |  |  | $ | 20,127 |  |  | $ | 41,338 |
Finance leases |  | $ | 12,868 |  |  | $ | 35,451 |  |  | $ | 79,273 |
__________________ (1)Includes both continuing and discontinued operations as applicable.
Schedule of Deferred Tax Assets and Liabilities | The components of the Company's net deferred tax assets (liabilities) were as follows:
| December 31,
(in thousands) | 2025 |  | 2024
Deferred tax assets: |  |  |
Accrued liabilities and reserves | $ | 94,183 |  |  | $ | 94,084 |
Tax loss and credit carryforwards | 37,579 |  |  | 75,927 |
Disallowed interest carryforward | 177,546 |  |  | 230,048 |
Deferred revenue | 184,415 |  |  | 218,639 |
Other | 64,051 |  |  | 91,892 |
Total deferred tax assets | 557,774 |  |  | 710,590 |
Valuation allowance | (12,264) |  |  | (12,264) |
Deferred tax assets, net of valuation allowance | $ | 545,510 |  |  | $ | 698,326 |
Deferred tax liabilities: |  |  |
Subscriber system assets | $ | (707,458) |  |  | $ | (757,046) |
Intangible assets | (1,063,710) |  |  | (1,051,499) |
Other | (41,095) |  |  | (56,994) |
Total deferred tax liabilities | (1,812,263) |  |  | (1,865,539) |
Net deferred tax assets (liabilities) | $ | (1,266,753) |  |  | $ | (1,167,213) |
Summary of Valuation Allowance | The changes in the valuation allowance for deferred tax assets were as follows:
| Years Ended December 31,
(in thousands) | 2025 |  | 2024 |  | 2023
Beginning balance | $ | (12,264) |  |  | $ | (12,264) |  |  | $ | (57,715) |
Income tax benefit (expense)(1) | — |  |  | — |  |  | 43,277 |
Write-offs and other | — |  |  | — |  |  | 2,174 |
Ending balance | $ | (12,264) |  |  | $ | (12,264) |  |  | $ | (12,264) |
__________________ (1)During 2023, the change is primarily related to the utilization of capital loss carryforwards against which a valuation allowance was previously recorded. The utilization is attributable to capital gains generated in connection with the Commercial Divestiture.
Schedule of Unrecognized Tax Benefits Roll Forward | The following is a roll-forward of unrecognized tax benefits:
| Years Ended December 31,
(in thousands) | 2025 |  | 2024 |  | 2023
Beginning balance | $ | 24,606 |  |  | $ | 48,823 |  |  | $ | 56,177 |
Additions for tax positions of prior years | 17,715 |  |  | 9,933 |  |  | 517 |
Reductions for tax positions of prior years | — |  |  | (5,108) |  |  | — |
Additions for tax positions related to current year | 15,057 |  |  | — |  |  | — |
Reductions related to settlements | (517) |  |  | — |  |  | — |
Reductions related to lapse of statute of limitation | — |  |  | (29,042) |  |  | (7,871) |
Ending balance | $ | 56,861 |  |  | $ | 24,606 |  |  | $ | 48,823 |
Unrecognized tax benefits that would affect the effective tax rate | $ | 31,398 |  |  | $ | 24,606 |  |  | $ | 48,823 |
Summary of Open Tax Years |
Jurisdiction | Years Open to Audit
Federal | 2022 - 2024
State | 2019 - 2024
Canada | 2021 - 2024

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