Company: UZF
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000821130-25-000070
Chunk: 176

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 176
---
. A limited partnership is a variable interest entity unless the limited partners hold substantive participating rights or kick-out rights over the general partner. For certain limited partnerships, Array is the general partner and manages the operations. In these partnerships, the limited partners do not have substantive kick-out or participating rights and, further, such limited partners do not have the authority to remove the general partner. Therefore, these limited partnerships also are recognized as VIEs and are consolidated into the Array financial statements under the variable interest model.

42

The following table presents the classification and balances of the consolidated VIEs’ assets and liabilities in Array’s Consolidated Balance Sheet. The balances presented for both periods represent the consolidated VIEs identified as of September 30, 2025. As discrete continuing operations balances are not available, the balances presented for December 31, 2024 are derived from the ratio of continuing operations for the respective financial statement line item of Array's Consolidated Balance Sheet.September 30, 2025December 31, 2024(Dollars in thousands)AssetsCash and cash equivalents$— $8 Accounts receivable936 166 Other current assets364 304 Licenses— 1,853 Non-current assets held for sale1,853 — Property, plant and equipment, net16,332 17,424 Operating lease right-of-use assets23,530 23,171 Other assets and deferred charges913 287 Total assets$43,928 $43,213 LiabilitiesCurrent liabilities$3,758 $3,748 Long-term operating lease liabilities25,387 24,762 Other deferred liabilities and credits12,665 10,116 Total liabilities$41,810 $38,626 Unconsolidated VIEsArray manages the operations of and holds a variable interest in certain other limited partnerships, but is not the primary beneficiary of these entities, and therefore does not consolidate them into the Array financial statements under the variable interest model.Array’s total investment in these unconsolidated entities was $0.9 million and $4.7 million at September 30, 2025 and December 31, 2024, respectively, and is included in Investments in unconsolidated entities in Array’s Consolidated Balance Sheet. The maximum exposure from unconsolidated VIEs is limited to the investment held by Array in those entities. Other Related MattersArray made no contributions, loans or advances