Cash and Cash Equivalents, Restricted Cash and Short-term Investments

12 Months Ended

Dec. 31, 2025

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents, Restricted Cash and Short-term Investments

NOTE 6—CASH AND CASH EQUIVALENTS, RESTRICTED CASH AND SHORT-TERM INVESTMENTS:

The following table disaggregates the Company’s cash, cash equivalents and restricted cash, which reconciles to the total shown on the Consolidated Statements of Cash Flows:

	December 31,
	2025		2024
Cash and Cash Equivalents	$	432,174	$	408,240
Restricted Cash - Current (a)	37,403		39,302
Restricted Cash - Noncurrent (a)	131,585		—
Cash and Cash Equivalents and Restricted Cash	$	601,162	$	447,542

(a) Restricted Cash - Current and Restricted Cash - Noncurrent are included in Other Current Assets and Funds for Asset Retirement Obligations, respectively, in the accompanying Consolidated Balance Sheets.

The Company had invested in marketable debt securities, primarily comprised of highly liquid U.S. Treasury securities. These investments were held in the custody of financial institutions. The securities outstanding were classified as available-for-sale securities, matured within 12 months of the acquisition date and were classified as current assets accordingly. During the first quarter of 2025, the Company liquidated its remaining investments in U.S. Treasury securities.

The Company’s investments in available-for-sale securities were as follows:

	December 31, 2024
	Amortized Cost		Allowance for Credit Losses		Gross Unrealized
					Gains		Losses		Fair Value
U.S. Treasury Securities	$	51,885	$	—	$	120	$	(12)	$	51,993

Available-for-sale investments are reported at fair value in the accompanying Consolidated Balance Sheets, and any unrealized gains or losses are recognized in Accumulated Other Comprehensive Loss. Any unrealized gains or losses in the Company’s portfolio are a result of normal market fluctuations. Interest and dividends are included in net income when earned.