Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Measurements

Fair value of debt instruments

We estimate the fair value of our debt financial instruments in accordance with U.S. GAAP. The fair value of our long-term debt and revolving credit facilities is estimated based on quoted market prices or prices quoted from third-party financial institutions. The fair value of our debt instruments is determined using Level 2 measurements. The carrying and fair values of these liabilities were as follows:

		As of December 31,
		2025						2024
		Effective						Effective
		Interest		Carrying		Fair		Interest		Carrying		Fair
		Rate		Value		Value		Rate		Value		Value
	(In thousands)
7.375% senior priority guaranteed notes due May 2027		7.04	%	$	—	$	—	7.74	%	$	700,000	$	699,916
7.50% senior guaranteed notes due January 2028		7.82	%		379,146		379,491	7.70	%		389,609		362,823
1.75% senior exchangeable notes due June 2029		2.27	%		250,000		202,868	2.27	%		250,000		179,548
9.125% senior priority guaranteed notes due January 2030		9.40	%		650,000		683,293	9.40	%		650,000		661,401
8.875% senior guaranteed notes due August 2031		9.12	%		550,000		533,638	9.12	%		550,000		511,104
7.625% senior priority guaranteed notes due November 2032		7.88	%		700,000		687,890	—	%		—		—
				$	2,529,146	$	2,487,180			$	2,539,609	$	2,414,792
Less: current portion					377,492						—
Less: deferred financing costs					34,467						34,392
				$	2,117,187					$	2,505,217