Investments in Unconsolidated Entities

9 Months Ended

Sep. 30, 2025

Equity Method Investments and Joint Ventures [Abstract]

Note 8 Investments in Unconsolidated Entities

Investments in unconsolidated entities consist of amounts invested in entities in which Array holds a noncontrolling interest. Array’s Investments in unconsolidated entities are accounted for using the equity method, measurement alternative method or net asset value practical expedient method as shown in the table below. The carrying value of measurement alternative method investments represents cost minus any impairments plus or minus any observable price changes.


	September 30, 2025		December 31, 2024
(Dollars in thousands)
Equity method investments	$	438,201	$	440,534
Measurement alternative method investments	5,362		4,847
Investments recorded using the net asset value practical expedient	8,611		8,557
Total investments in unconsolidated entities	$	452,174	$	453,938

The following table, which is based on unaudited information provided in part by third parties, summarizes the combined results of operations of Array’s equity method investments.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
(Dollars in thousands)
Revenues	$	1,878,201	$	1,878,047	$	5,719,348	$	5,540,813
Operating expenses	1,357,026		1,465,129		4,385,461		4,293,318
Operating income	521,175		412,918		1,333,887		1,247,495
Other income (expense), net	(17,052)		1,018		(31,461)		120
Net income	$	504,123	$	413,936	$	1,302,426	$	1,247,615

ARRAY DIGITAL INFRASTRUCTURE, INC. 10-Q