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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net (loss) income $ (182,174) $ (204,074) $ 1,273,441
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Depreciation and amortization 270,181 298,018 232,209
Amortization of debt discounts and premium 5,724 3,688 1,323
Amortization of discounts, due from T-Mobile, IP Transit Services & Purchase Agreements (18,140) (24,515) (28,685)
Equity-based compensation expense (net of amounts capitalized) 26,417 25,738 26,924
Gain on bargain purchase - Cogent Fiber Business   (22,202) (1,406,435)
Loss on extinguishment & redemption of 2026 notes 5,606    
Gains - lease terminations and other (2,740) (3,332) 212
Deferred income taxes (64,972) (51,623) (69,582)
Changes in operating assets and liabilities:      
Accounts receivable 8,884 38,541 (51,002)
Prepaid expenses and other current assets (1,449) (5,839) (11,001)
Due to T-Mobile - Transition Services Agreement (525) (66,383) 66,908
Due from T-Mobile - Transition Services Agreement (57) 4,452 (4,514)
Deposits and other assets (6,921) (3,966) (1,548)
Accounts payable, accrued liabilities and other long-term liabilities (50,413) 2,852 (10,905)
Net cash (used in) provided by operating activities (10,579) (8,645) 17,345
Cash flows from investing activities:      
Cash receipts - IP Transit Services Agreement - T-Mobile 100,000 204,167 204,167
Acquisition of Cogent Fiber Business, net of $47.1 million of cash acquired in 2023   12,323 2,191
Purchases of property and equipment (187,569) (194,998) (129,632)
Net cash (used in) provided by investing activities (87,569) 21,492 76,726
Cash flows from financing activities:      
Redemption and extinguishment of secured 2026 notes (505,000)    
Dividends paid (150,063) (189,408) (181,716)
Purchases and retirement of common stock (16,686) (7,968)  
Principal payments of finance lease obligations (33,843) (74,632) (77,362)
Settlement of a finance lease - at a discount   (114,576)  
Proceeds from exercises of common stock options 175 2,204 1,227
Net cash provided by (used in) financing activities 62,904 105,925 (257,851)
Effect of exchange rate changes on cash 12,440 (4,637) 1,649
Net (decrease) increase in cash and cash equivalents & restricted cash (22,804) 114,135 (162,131)
Cash and cash equivalents & restricted cash, beginning of year 227,916 113,781 275,912
Cash and cash equivalents & restricted cash, end of year 205,112 227,916 113,781
Supplemental disclosures of cash flow information:      
Cash paid for interest 154,748 133,954 104,698
Cash paid for income taxes net of (refunds) for 2025 -See Note 5 (659) 3,165 35,291
Non-cash investing and financing activities:      
Finance lease obligations incurred 149,058 241,193 232,468
Fair value of equipment acquired in leases     $ 141
Senior unsecured 2027 notes      
Cash flows from financing activities:      
Net proceeds from issuance of senior unsecured 2027 Notes, net of debt costs of $1.6 million and a discount of $6.8 million   291,879  
Secured IPv4 notes      
Cash flows from financing activities:      
Net proceeds from issuance 170,479 $ 198,426  
Senior secured 2032 notes      
Cash flows from financing activities:      
Net proceeds from issuance $ 597,842