CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Dec. 31, 2025	Dec. 31, 2024
Current Assets:
Cash and cash equivalents		$ 866	$ 697
Accounts receivable, net of allowance for doubtful accounts of $5 and $6, respectively		687	637
Income taxes receivable		0	5
Prepaid expenses and other current assets		147	146
Total current assets		1,700	1,485
Property and equipment, net		655	705
Operating lease assets		110	123
Goodwill		2,085	2,082
Indefinite-lived intangible assets		149	150
Definite-lived intangible assets, net		533	630
Other assets		717	710
Total assets	[1]	5,949	5,885
Current Liabilities:
Accounts payable and accrued liabilities		496	416
Income taxes payable		21	0
Current portion of notes payable, finance leases and commercial bank financing		25	38
Current portion of operating lease liabilities		24	22
Current portion of program contracts payable		70	69
Other current liabilities		67	60
Total current liabilities		703	605
Notes payable, finance leases and commercial bank financing, less current portion		4,358	4,091
Operating lease liabilities, less current portion		112	130
Program contracts payable, less current portion		13	13
Deferred tax liabilities		213	335
Other long-term liabilities		180	195
Total liabilities	[1]	5,579	5,369
Commitments and contingencies (See Note 11)
Shareholders' equity:
Additional paid-in capital		613	570
(Accumulated deficit) retained earnings		(171)	10
Accumulated other comprehensive income		0	2
Equity, Attributable to Parent, Total		443	583
Noncontrolling interests		(73)	(67)
Total equity		370	516
Total liabilities and equity		5,949	5,885
Class A Common Stock
Shareholders' equity:
Common Stock		1	1
Class B Common Stock
Shareholders' equity:
Common Stock		0	0
Customer relationships, net
Current Assets:
Definite-lived intangible assets, net		269	302
Other definite-lived intangible assets, net
Current Assets:
Definite-lived intangible assets, net		$ 264	$ 328

[1] Our consolidated total assets as of December 31, 2025 and 2024 include total assets of Variable Interest Entities (“VIEs”) of $30 million and $70 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of December 31, 2025 and 2024 include total liabilities of the VIEs of $8 million and $16 million, respectively, for which the creditors of the VIEs have no recourse to us. See Note 12. Variable Interest Entities.