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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues and sales:        
Revenues $ 722.6 $ 292.2 $ 1,317.3 $ 873.6
Costs and expenses:        
Selling, general and administrative 121.2 26.7 177.4 80.5
Depreciation and amortization 202.3 79.3 361.7 234.9
Gain on sale of operating assets 0.0 0.0 0.0 (19.0)
Transaction related and other costs 157.7 14.4 179.0 31.1
Total costs and expenses 765.2 154.9 1,069.2 434.2
Operating (loss) income (42.6) 137.3 248.1 439.4
Other (expense) income, net (0.2) 0.0 (1.3) 0.3
Gain on settlement of preexisting relationships 1,685.4 0.0 1,685.4 0.0
Interest expense, net (168.2) (131.0) (467.0) (381.7)
Income before income taxes 1,474.4 6.3 1,465.2 58.0
Income tax benefit (134.5) (5.9) (145.2) (13.8)
Net income 1,608.9 12.2 1,610.4 71.8
Participating securities’ share in earnings (35.4) (0.3) (41.3) (1.5)
Dividends declared on preferred stock (9.9) 0.0 (9.9) 0.0
Net income attributable to common shareholders $ 1,563.6 $ 11.9 $ 1,559.2 $ 70.3
Earnings per common share:        
Basic (in dollars per share) $ 7.26 $ 0.08 $ 9.29 $ 0.49
Diluted (in dollars per share) $ 4.92 $ 0.08 $ 7.21 $ 0.49
Weighted-average number of common shares outstanding:        
Basic (in shares) 215.2 143.2 167.8 143.0
Diluted (in shares) 320.9 143.2 220.0 143.0
Service revenues        
Revenues and sales:        
Revenues $ 695.3 $ 287.5 $ 1,282.0 $ 861.1
Costs and expenses:        
Cost of services and sales (exclusive of depreciation and amortization included below) 261.4 32.8 323.7 98.5
Sales revenues        
Revenues and sales:        
Revenues 27.3 4.7 35.3 12.5
Costs and expenses:        
Cost of services and sales (exclusive of depreciation and amortization included below) $ 22.6 $ 1.7 $ 27.4 $ 8.2