Debt (Tables)

12 Months Ended

Dec. 31, 2025

Debt

Schedule of debt

Debt consisted of the following:

	As of December 31,
	2025		2024
	(In thousands)
7.375% senior priority guaranteed notes due May 2027	$	—	$	700,000
7.50% senior guaranteed notes due January 2028 (1)		379,146		389,609
1.75% senior exchangeable notes due June 2029		250,000		250,000
9.125% senior priority guaranteed notes due January 2030		650,000		650,000
8.875% senior guaranteed notes due August 2031		550,000		550,000
7.625% senior priority guaranteed notes due November 2032		700,000		—
	$	2,529,146	$	2,539,609
Less: current portion		377,492		—
Less: deferred financing costs		34,467		34,392
Long-term debt	$	2,117,187	$	2,505,217

(1) A redemption notice for our 7.50% senior guaranteed notes due January 2028 was issued December 24, 2025 and such notes were redeemed on January 15, 2026.

Schedule of principal amount and maturities of debt

As of December 31, 2025, the principal amount and maturities of our primary debt for each of the five years following 2025 and thereafter are as follows:

	Paid at Maturity
	(In thousands)
2026		379,146	(1)
2029		250,000	(2)
2030		650,000	(3)
Thereafter		1,250,000	(4)
	$	2,529,146

(1) Represents our 7.50% senior guaranteed notes due January 2028 as a redemption notice was issued December 24, 2025.

(2) Represents our 1.75% senior exchangeable notes due June 2029 and our 2024 Credit Agreement.

(3) Represents our 9.125% senior priority guaranteed notes due January 2030.

(4) Represents our 8.875% senior guaranteed notes due August 2031 and our 7.625% senior priority guaranteed notes due November 2032.

Schedule of letters of credit

We had seven letter-of-credit facilities with various banks as of December 31, 2025. Availability and borrowings under our letter-of-credit facilities are as follows:

	December 31,
	2025
	(In thousands)
Credit available	$	283,667
Less: Letters of credit outstanding, inclusive of financial and performance guarantees		128,619
Remaining availability	$	155,048