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ACQUISITION OF SUBSIDIARIES (Tables)
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combination, Recognized Asset Acquired and Liability Assumed
The following table summarizes the allocation of the purchase price, as presented in our Consolidated Balance Sheet:
February 26, 2025
Fair value of assets acquired:
Cash and cash equivalents$17,205 
Restricted cash218,422 
Accounts receivable12,364 
Property, plant and equipment1,516,873 
Intangible assets1,000 
Other assets11,855 
Total assets acquired1,777,719 
Fair value of liabilities assumed:
Accounts payable and accrued liabilities54,699 
Debt1,115,200 
Derivative liabilities197,795 
Other liabilities15,628 
Total liabilities assumed1,383,322 
Goodwill (1)
90,337 
Total purchase consideration$484,734 
________________________________________________________
(1) This goodwill is assigned to the Power and Gas segment and is not tax deductible for income tax purposes. In the fourth quarter of 2025, the Company recorded an adjustment of $35.5 million to goodwill of the Power and Gas segment for a measurement period adjustment related to completing its analysis of acquired tax attributes upon filing the 2024 income tax return.
Business Combination, Intangible Asset, Acquired, Finite-Lived
The following table presents the fair value of the identifiable intangible assets and their estimated useful lives:
Estimated useful life in yearsFair value
Customer relationships
15
$1,000 
Total$1,000 
Schedule of Property Plant And Equipment Acquired as Part of Business Combination
The following table presents the fair value of the property, plant and equipment and their estimated remaining useful lives:
Estimated remaining useful life in yearsFair value
Construction in progress
N/A
$476 
Unproved properties
N/A
216,776 
Proved developed properties
N/A
168,045 
Power generation
12 - 37
850,121 
Computer software
2
70 
Land and improvements
N/A
166,454 
Buildings
10 - 39
48,665 
Machinery & equipment
2 - 37
62,015 
Track and track related assets
8 - 34
4,212 
Vehicles
2 - 3
39 
Total$1,516,873 
he following table presents the preliminary estimated fair value of the property, plant and equipment and their estimated remaining useful lives:
Estimated remaining useful life in yearsFair value
Construction in progressN/A$6,768 
LandN/A165,862 
Buildings and improvements
2 - 16
4,448 
Bridges and tunnels
18 - 50
791,819 
Terminal machinery and equipment
2 - 15
5,214 
Track and track related assets
2 - 40
218,065 
Computer hardware and software
2 - 4
228 
Railcars and locomotives
3 - 30
92,609 
Other
2 - 8
4,138 
Total$1,289,151 
Business Combination
The following table summarizes the allocation of the preliminary purchase price, as presented in our Consolidated Balance Sheet:
December 26, 2025
Fair value of assets acquired:
Cash and cash equivalents$21,432 
Restricted cash3,893 
Accounts receivable19,222 
Operating lease right-of-use assets, net65,927 
Property, plant and equipment1,289,151 
Other assets27,758 
Total assets acquired1,427,383 
Fair value of liabilities assumed:
Accounts payable and accrued liabilities22,034 
Operating lease liabilities12,228 
Deferred tax liabilities273,419 
Other liabilities1,882 
Total liabilities assumed309,563 
Total preliminary purchase consideration$1,117,820 
Business Combination, Pro Forma Information
The pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisitions had taken place as of January 1, 2024.
Year Ended December 31,
20252024
Total revenue$710,602 $591,561 
Net loss attributable to stockholders, before series B preferred stock dividend and loss on extinguishment of preferred stock(402,167)(393,295)