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Consolidated Balance Sheet - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 386 $ 144
Accounts receivable    
Customers and agents, less allowances of $55 and $63, respectively 861 905
Other, less allowances of $2 and $2, respectively 60 49
Inventory, net 126 179
Prepaid expenses 53 46
Income taxes receivable 1 0
Other current assets 21 21
Total current assets 1,509 1,345
Licenses 4,583 4,579
Investments in unconsolidated entities 444 454
Property, plant and equipment    
In service and under construction 8,477 8,387
Less: Accumulated depreciation and amortization 6,164 5,885
Property, plant and equipment, net 2,313 2,502
Operating lease right-of-use assets 922 926
Other assets and deferred charges 606 643
Total assets [1] 10,377 10,449
Current liabilities    
Current portion of long-term debt 28 22
Accounts payable    
Accounts payable - Trade 204 232
Customer deposits and deferred revenues 225 238
Accrued taxes 37 30
Accrued compensation 54 93
Short-term operating lease liabilities 137 141
Other current liabilities 109 118
Total current liabilities 808 884
Deferred liabilities and credits    
Deferred income tax liability, net 719 728
Long-term operating lease liabilities 825 822
Other deferred liabilities and credits 576 570
Long-term debt, net 2,819 2,837
Commitments and contingencies
Noncontrolling interests with redemption features 16 16
Array shareholders’ equity    
Series A Common and Common Shares Authorized 190 shares (50 Series A Common and 140 Common Shares) Issued 88 shares (33 Series A Common and 55 Common Shares) Outstanding 86 shares (33 Series A Common and 53 Common Shares) and 85 shares (33 Series A Common and 52 Common Shares) Par Value ($1.00 per share) ($33 Series A Common and $55 Common Shares) 88 88
Additional paid-in capital 1,812 1,783
Treasury shares, at cost, 2 and 3 Common Shares, respectively (102) (112)
Retained earnings 2,802 2,818
Total Array shareholders' equity 4,600 4,577
Noncontrolling interests 14 15
Total equity 4,614 4,592
Total liabilities and equity [1] 10,377 10,449
Affiliated    
Accounts receivable    
Affiliated 1 1
Accounts payable    
Accounts payable - Affiliated $ 14 $ 10
[1] The consolidated total assets as of June 30, 2025 and December 31, 2024, include assets held by consolidated variable interest entities (VIEs) of $876 million and $1,011 million, respectively, which are not available to be used to settle the obligations of Array. The consolidated total liabilities as of June 30, 2025 and December 31, 2024, include certain liabilities of consolidated VIEs of $28 million and $27 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of Array. See Note 9 — Variable Interest Entities for additional information.