Consolidated Statement of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities
Net income (loss)	$ 69,193	$ (31,578)	$ 57,917
Net income (loss) from discontinued operations	(103,074)	48,886	49,540
Net income (loss) from continuing operations	172,267	(80,464)	8,377
Add (deduct) adjustments to reconcile net income (loss) to net cash flows from operating activities
Depreciation, amortization and accretion	48,262	47,212	49,984
Bad debts expense	1,689	(1,729)	1,252
Stock-based compensation expense	1,819	2,728	1,148
Deferred income taxes, net	(37,733)	(16,716)	32,517
Equity in earnings of unconsolidated entities	(173,754)	(161,364)	(158,296)
Distributions from unconsolidated entities	215,599	168,701	150,291
Loss on impairment of licenses	47,679	136,234	0
(Gain) loss on asset disposals, net	1,746	809	(4,417)
(Gain) loss on sale of business and other exit costs, net	(47,700)
(Gain) loss on license sales and exchanges, net	(6,123)	3,460	(2,170)
Other operating activities	1,285	121	113
Changes in assets and liabilities from operations
Accounts receivable	(6,628)	4,856	(1,527)
Accounts payable	(9,339)	(35,473)	(17,958)
Customer deposits and deferred revenues	(65,025)	(352)	(442)
Accrued taxes	(15,954)	(38,510)	(8,244)
Other assets and liabilities	(100,661)	8,857	(1,276)
Net cash provided by operating activities - continuing operations	75,129	38,370	49,352
Net cash provided by operating activities - discontinued operations	125,707	844,095	817,505
Net cash provided by operating activities	200,836	882,465	866,857
Cash flows from investing activities
Cash paid for additions to property, plant and equipment	(27,200)	(18,466)	(40,636)
Cash paid for licenses	(4,175)	(19,198)	(128,597)
Cash received from divestitures	5,439	0	1,000
Other investing activities	1,301	0	15,314
Net cash used in investing activities - continuing operations	(24,635)	(37,664)	(152,919)
Net cash provided by (used in) investing activities - discontinued operations	2,462,399	(518,572)	(568,026)
Net cash provided by (used in) investing activities	2,437,764	(556,236)	(720,945)
Cash flows from financing activities
Issuance of long-term debt	325,000	40,000	315,000
Repayment of long-term debt	(875,250)	(248,000)	(452,500)
Repayment of short-term debt	0	0	(60,000)
Tax withholdings, net of cash receipts, for Array stock-based compensation awards	(63,446)	(11,246)	(5,870)
Repurchase of Common Shares	(21,360)	(54,091)	0
Dividends paid to Array shareholders	(1,986,719)	0	0
Payment of debt issuance costs	(6,418)	0	(1,600)
Distributions to noncontrolling interests	(27,612)	(4,716)	(3,312)
Other financing activities	(8,000)	(2,316)	(412)
Net cash used in financing activities - continuing operations	(2,663,805)	(280,369)	(208,694)
Net cash used in financing activities - discontinued operations	(20,537)	(66,632)	(65,600)
Net cash used in financing activities	(2,684,342)	(347,001)	(274,294)
Net decrease in cash, cash equivalents and restricted cash	(45,742)	(20,772)	(128,382)
Cash, cash equivalents and restricted cash
Beginning of period	159,142	179,914	308,296
End of period	$ 113,400	$ 159,142	$ 179,914

ARRAY DIGITAL INFRASTRUCTURE, INC. 10-K