Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Cash flows from operating activities:
Net income	$ 1,610.4	$ 71.8
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	361.7	234.9
Amortization of deferred financing costs, debt discount and premium	13.9	16.8
Loss on extinguishment of debt	40.5	0.0
Deferred income taxes	(152.3)	(14.9)
Straight-line revenues and amortization of below-market lease intangibles	(14.0)	(24.4)
Stock-based compensation	17.4	10.1
Gain on sale of operating assets	0.0	(19.0)
Gain on settlement of preexisting relationships	(1,685.4)	0.0
Provision for estimated credit losses	6.3	1.2
Other, net	14.1	4.4
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	16.2	(6.4)
Prepaid expenses	23.0	(1.2)
Other current assets	(13.3)	0.9
Other assets	(5.0)	(0.5)
Accounts payable	28.7	3.0
Accrued interest	(43.1)	(77.1)
Accrued taxes	16.6	8.6
Deferred revenue	31.4	4.6
Other current liabilities	1.5	5.7
Other liabilities	(3.3)	(1.3)
Noncurrent deferred revenue	(44.1)	(36.1)
Operating lease assets and lease obligations	5.7	0.0
Other, net	2.9	0.0
Net cash provided from operating activities	229.8	181.1
Cash flows from investing activities:
Capital expenditures	(461.2)	(327.8)
Merger cash consideration paid, net of cash acquired	(229.5)	0.0
Capital expenditures funded by government grants	(8.3)	0.0
Grant funds received for broadband expansion	2.1	0.0
Proceeds from sale of equipment	3.6	0.6
Proceeds from sale of IPv4 addresses	3.1	0.0
Proceeds from sale of operating assets	0.0	40.0
Proceeds from sale of unconsolidated entity	0.0	40.0
Net cash used in investing activities	(690.2)	(247.2)
Cash flows from financing activities:
Proceeds from issuance of debt	1,728.0	714.0
Repayments of debt	(1,063.0)	(455.9)
Dividends paid	0.0	(108.5)
Payments of settlement obligation	(73.5)	(73.5)
Payments for financing costs	(77.4)	(15.8)
Other, net	(5.6)	(3.1)
Net cash provided from financing activities	508.5	57.2
Net increase (decrease) in cash, restricted cash and cash equivalents	48.1	(8.9)
Cash, restricted cash and cash equivalents at beginning of period	183.8	62.3
Cash, restricted cash and cash equivalents at end of period	$ 231.9	$ 53.4