CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 865.6	$ 445.0
Restricted cash	0.0	0.7
Accounts receivable, less allowance of $4.6 million and $8.9 million, respectively	218.5	175.7
Inventories	568.7	757.3
Prepaid expenses	70.9	61.7
Other current assets	144.7	160.3
Total current assets	1,868.4	1,600.7
Property, plant and equipment, net	2,222.6	2,219.0
Operating lease right-of-use assets, net	1,242.5	1,339.2
Trade names and trademarks	1,110.7	1,303.9
Other intangible assets, net	50.9	68.7
Goodwill	619.8	620.2
Other assets, net	455.2	484.4
Total assets	7,570.1	7,636.1
Current liabilities:
Accounts payable and accrued expenses	332.9	451.3
Accrued employee compensation and benefits	133.6	113.4
Convertible notes, net	257.4	0.0
Asset-based credit facilities	47.3	25.4
Operating lease liabilities, short-term	80.8	89.3
Construction advances	40.2	6.0
Deferred revenue	77.5	96.0
Other current liabilities	29.0	44.5
Total current liabilities	998.7	825.9
Long-term debt, net	1,191.5	1,457.9
Operating lease liabilities, long-term	1,299.0	1,377.1
Deemed landlord financing obligations	1,254.2	1,194.8
Financing lease liabilities, long-term	306.2	301.9
Deferred taxes, net	2.0	24.9
Other long-term liabilities	42.8	45.9
Commitments and contingencies (Note 12)
Shareholders’ equity:
Preferred stock, $0.01 par value, 3.0 million shares authorized, none issued and outstanding at both September 30, 2025 and December 31, 2024	0.0	0.0
Common stock, $0.01 par value, 360.0 million shares authorized, and 186.2 million shares issued at both September 30, 2025 and December 31, 2024	1.9	1.9
Additional paid-in capital	3,030.9	3,032.8
Accumulated deficit	(492.5)	(500.2)
Accumulated other comprehensive loss	(30.3)	(76.0)
Less: Common stock held in treasury, at cost, 2.3 million and 3.1 million shares as of September 30, 2025 and December 31, 2024, respectively	(34.3)	(50.8)
Total shareholders’ equity	2,475.7	2,407.7
Total liabilities and shareholders’ equity	$ 7,570.1	$ 7,636.1