What changed: r4 to r5
Added conditional funding/restricted-cash roll-forwards, scheduled principal and dated ownership claims. Corrected the $172.5M convertible label to its 2030 maturity. Existing operating forecasts stay unchanged; parent cash, contingent warrant settlements and future financing remain qualified.
Retrieval clocks and internal hashes are excluded. Changed source or accounting definitions are not automatically an economic restatement. The authored reason describes the destination revision.
| Field | Before | After |
|---|---|---|
| /meta/revision | 4 | 5 |
| /operating_model/cells/annual_coupon:shared/formula/refs/3 | convert_2029_coupon | convert_2030_coupon |
| /operating_model/cells/base_2026q3_asset_sale_cash:base/basis | None | No other asset sales assumed; no sale revenue is counted as recurring operating cash. |
| /operating_model/cells/base_2026q3_asset_sale_cash:base/case | None | base |
| /operating_model/cells/base_2026q3_asset_sale_cash:base/id | None | base_2026q3_asset_sale_cash |
| /operating_model/cells/base_2026q3_asset_sale_cash:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_asset_sale_cash:base/label | None | Asset-sale cash assumed |
| /operating_model/cells/base_2026q3_asset_sale_cash:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_asset_sale_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_asset_sale_cash:base/value | None | 0.0 |
| /operating_model/cells/base_2026q3_cash_with_funding:base/basis | None | Combines the operating model with explicit financing/restricted-fund assumptions once. |
| /operating_model/cells/base_2026q3_cash_with_funding:base/case | None | base |
| /operating_model/cells/base_2026q3_cash_with_funding:base/formula/op | None | sum |
| /operating_model/cells/base_2026q3_cash_with_funding:base/formula/refs/0 | None | base_2026q3_cash_after_capex |
| /operating_model/cells/base_2026q3_cash_with_funding:base/formula/refs/1 | None | base_2026q3_funding_sources |
| /operating_model/cells/base_2026q3_cash_with_funding:base/id | None | base_2026q3_cash_with_funding |
| /operating_model/cells/base_2026q3_cash_with_funding:base/kind | None | derived |
| /operating_model/cells/base_2026q3_cash_with_funding:base/label | None | Operating cash after capex plus funding |
| /operating_model/cells/base_2026q3_cash_with_funding:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_cash_with_funding:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_cash_with_funding:base/value | None | -152.42949999999996 |
| /operating_model/cells/base_2026q3_eligible_restricted_fraction:base/basis | None | Desk fraction of modeled construction cash paid from existing eligible project funds. Must be between zero and one, cannot exceed available restricted funds, and never releases noncurrent reserves. |
| /operating_model/cells/base_2026q3_eligible_restricted_fraction:base/case | None | base |
| /operating_model/cells/base_2026q3_eligible_restricted_fraction:base/id | None | base_2026q3_eligible_restricted_fraction |
| /operating_model/cells/base_2026q3_eligible_restricted_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_eligible_restricted_fraction:base/label | None | Construction spending eligible for restricted funding |
| /operating_model/cells/base_2026q3_eligible_restricted_fraction:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_eligible_restricted_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2026q3_eligible_restricted_fraction:base/value | None | 0.9 |
| /operating_model/cells/base_2026q3_external_net_funding:base/basis | None | No unspecified new funding assumed. A negative funding balance identifies financing or spending changes still needed; it is not a forecast negative bank balance. |
| /operating_model/cells/base_2026q3_external_net_funding:base/case | None | base |
| /operating_model/cells/base_2026q3_external_net_funding:base/id | None | base_2026q3_external_net_funding |
| /operating_model/cells/base_2026q3_external_net_funding:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_external_net_funding:base/label | None | Additional net financing assumed |
| /operating_model/cells/base_2026q3_external_net_funding:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_external_net_funding:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_external_net_funding:base/value | None | 0.0 |
| /operating_model/cells/base_2026q3_funding_balance:base/basis | None | June unrestricted-cash baseline rolled through operating, capex and explicit funding assumptions. Negative means an unfilled funding requirement. This is not current cash, bank availability, owner distributions or a fully funded claim. |
| /operating_model/cells/base_2026q3_funding_balance:base/case | None | base |
| /operating_model/cells/base_2026q3_funding_balance:base/formula/op | None | sum |
| /operating_model/cells/base_2026q3_funding_balance:base/formula/refs/0 | None | h1_cash |
| /operating_model/cells/base_2026q3_funding_balance:base/formula/refs/1 | None | base_2026q3_funding_change |
| /operating_model/cells/base_2026q3_funding_balance:base/id | None | base_2026q3_funding_balance |
| /operating_model/cells/base_2026q3_funding_balance:base/kind | None | derived |
| /operating_model/cells/base_2026q3_funding_balance:base/label | None | Funding balance under stated assumptions |
| /operating_model/cells/base_2026q3_funding_balance:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_funding_balance:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_funding_balance:base/value | None | 679.3995 |
| /operating_model/cells/base_2026q3_funding_change:base/basis | None | Funding inflows less explicit cash uses; not a full GAAP cash-flow statement. |
| /operating_model/cells/base_2026q3_funding_change:base/case | None | base |
| /operating_model/cells/base_2026q3_funding_change:base/formula/op | None | subtract |
| /operating_model/cells/base_2026q3_funding_change:base/formula/refs/0 | None | base_2026q3_cash_with_funding |
| /operating_model/cells/base_2026q3_funding_change:base/formula/refs/1 | None | base_2026q3_funding_uses |
| /operating_model/cells/base_2026q3_funding_change:base/id | None | base_2026q3_funding_change |
| /operating_model/cells/base_2026q3_funding_change:base/kind | None | derived |
| /operating_model/cells/base_2026q3_funding_change:base/label | None | Net modeled funding change |
| /operating_model/cells/base_2026q3_funding_change:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_funding_change:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_funding_change:base/value | None | -152.42949999999996 |
| /operating_model/cells/base_2026q3_funding_sources:base/basis | None | Transfers from restricted cash, dated financing and conditional disposals stay distinct from revenue. |
| /operating_model/cells/base_2026q3_funding_sources:base/case | None | base |
| /operating_model/cells/base_2026q3_funding_sources:base/formula/op | None | sum |
| /operating_model/cells/base_2026q3_funding_sources:base/formula/refs/0 | None | base_2026q3_restricted_release |
| /operating_model/cells/base_2026q3_funding_sources:base/formula/refs/1 | None | base_2026q3_external_net_funding |
| /operating_model/cells/base_2026q3_funding_sources:base/formula/refs/2 | None | base_2026q3_asset_sale_cash |
| /operating_model/cells/base_2026q3_funding_sources:base/id | None | base_2026q3_funding_sources |
| /operating_model/cells/base_2026q3_funding_sources:base/kind | None | derived |
| /operating_model/cells/base_2026q3_funding_sources:base/label | None | Funding inflows outside operating model |
| /operating_model/cells/base_2026q3_funding_sources:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_funding_sources:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_funding_sources:base/value | None | 540.0 |
| /operating_model/cells/base_2026q3_funding_uses:base/basis | None | Principal and extra investing/ownership uses; interest, working capital and capex are already in the existing operating bridge. |
| /operating_model/cells/base_2026q3_funding_uses:base/case | None | base |
| /operating_model/cells/base_2026q3_funding_uses:base/formula/op | None | sum |
| /operating_model/cells/base_2026q3_funding_uses:base/formula/refs/0 | None | base_2026q3_principal_cash |
| /operating_model/cells/base_2026q3_funding_uses:base/formula/refs/1 | None | base_2026q3_other_funding_uses |
| /operating_model/cells/base_2026q3_funding_uses:base/id | None | base_2026q3_funding_uses |
| /operating_model/cells/base_2026q3_funding_uses:base/kind | None | derived |
| /operating_model/cells/base_2026q3_funding_uses:base/label | None | Cash uses outside operating model |
| /operating_model/cells/base_2026q3_funding_uses:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_funding_uses:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_funding_uses:base/value | None | 0.0 |
| /operating_model/cells/base_2026q3_other_funding_uses:base/basis | None | Explicit desk allowance outside operating cash/capex: includes $10M assumed sale costs only for WULF upside closing. Zero otherwise leaves undisclosed acquisitions, contingent settlements and minority distributions unmodeled, not known absent. Construction reimbursements already included in capex are not deducted again. |
| /operating_model/cells/base_2026q3_other_funding_uses:base/case | None | base |
| /operating_model/cells/base_2026q3_other_funding_uses:base/id | None | base_2026q3_other_funding_uses |
| /operating_model/cells/base_2026q3_other_funding_uses:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_other_funding_uses:base/label | None | Additional investing, fees and outside-owner cash uses |
| /operating_model/cells/base_2026q3_other_funding_uses:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_other_funding_uses:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_other_funding_uses:base/value | None | 0.0 |
| /operating_model/cells/base_2026q3_principal_cash:base/basis | None | Annual disclosed maturity times explicit quarterly allocation. No second deduction of operating coupon costs. |
| /operating_model/cells/base_2026q3_principal_cash:base/case | None | base |
| /operating_model/cells/base_2026q3_principal_cash:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q3_principal_cash:base/formula/refs/0 | None | scheduled_h2_principal |
| /operating_model/cells/base_2026q3_principal_cash:base/formula/refs/1 | None | base_2026q3_principal_weight |
| /operating_model/cells/base_2026q3_principal_cash:base/id | None | base_2026q3_principal_cash |
| /operating_model/cells/base_2026q3_principal_cash:base/kind | None | derived |
| /operating_model/cells/base_2026q3_principal_cash:base/label | None | Scheduled principal cash use |
| /operating_model/cells/base_2026q3_principal_cash:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_principal_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_principal_cash:base/value | None | 0.0 |
| /operating_model/cells/base_2026q3_principal_weight:base/basis | None | Desk timing of disclosed maturity total; CIFR 2027 is spread evenly as a planning proxy across different project instruments. Annual principal reconciles, but this is not an exact payment calendar. |
| /operating_model/cells/base_2026q3_principal_weight:base/case | None | base |
| /operating_model/cells/base_2026q3_principal_weight:base/id | None | base_2026q3_principal_weight |
| /operating_model/cells/base_2026q3_principal_weight:base/kind | None | assumption |
| /operating_model/cells/base_2026q3_principal_weight:base/label | None | Share of dated annual principal schedule |
| /operating_model/cells/base_2026q3_principal_weight:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_principal_weight:base/unit | None | ratio |
| /operating_model/cells/base_2026q3_principal_weight:base/value | None | 0.0 |
| /operating_model/cells/base_2026q3_restricted_release:base/basis | None | Modeled construction capex times eligible restricted-funding fraction; existing project cash funds an eligible use, not corporate income. Published cases preserve the noncurrent reserve and never release more than construction spending. |
| /operating_model/cells/base_2026q3_restricted_release:base/case | None | base |
| /operating_model/cells/base_2026q3_restricted_release:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q3_restricted_release:base/formula/refs/0 | None | base_2026q3_capex |
| /operating_model/cells/base_2026q3_restricted_release:base/formula/refs/1 | None | base_2026q3_eligible_restricted_fraction |
| /operating_model/cells/base_2026q3_restricted_release:base/id | None | base_2026q3_restricted_release |
| /operating_model/cells/base_2026q3_restricted_release:base/kind | None | derived |
| /operating_model/cells/base_2026q3_restricted_release:base/label | None | Restricted funds used for qualifying spending |
| /operating_model/cells/base_2026q3_restricted_release:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_restricted_release:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_restricted_release:base/value | None | 540.0 |
| /operating_model/cells/base_2026q3_restricted_remaining:base/basis | None | Opening restricted balance less modeled release. Not automatically available to satisfy other project or parent claims. |
| /operating_model/cells/base_2026q3_restricted_remaining:base/case | None | base |
| /operating_model/cells/base_2026q3_restricted_remaining:base/formula/op | None | subtract |
| /operating_model/cells/base_2026q3_restricted_remaining:base/formula/refs/0 | None | restricted_cash |
| /operating_model/cells/base_2026q3_restricted_remaining:base/formula/refs/1 | None | base_2026q3_restricted_release |
| /operating_model/cells/base_2026q3_restricted_remaining:base/id | None | base_2026q3_restricted_remaining |
| /operating_model/cells/base_2026q3_restricted_remaining:base/kind | None | derived |
| /operating_model/cells/base_2026q3_restricted_remaining:base/label | None | Remaining restricted cash in funding bridge |
| /operating_model/cells/base_2026q3_restricted_remaining:base/period | None | 2026Q3 |
| /operating_model/cells/base_2026q3_restricted_remaining:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q3_restricted_remaining:base/value | None | 3187.958 |
| /operating_model/cells/base_2026q4_asset_sale_cash:base/basis | None | No other asset sales assumed; no sale revenue is counted as recurring operating cash. |
| /operating_model/cells/base_2026q4_asset_sale_cash:base/case | None | base |
| /operating_model/cells/base_2026q4_asset_sale_cash:base/id | None | base_2026q4_asset_sale_cash |
| /operating_model/cells/base_2026q4_asset_sale_cash:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_asset_sale_cash:base/label | None | Asset-sale cash assumed |
| /operating_model/cells/base_2026q4_asset_sale_cash:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_asset_sale_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_asset_sale_cash:base/value | None | 0.0 |
| /operating_model/cells/base_2026q4_cash_with_funding:base/basis | None | Combines the operating model with explicit financing/restricted-fund assumptions once. |
| /operating_model/cells/base_2026q4_cash_with_funding:base/case | None | base |
| /operating_model/cells/base_2026q4_cash_with_funding:base/formula/op | None | sum |
| /operating_model/cells/base_2026q4_cash_with_funding:base/formula/refs/0 | None | base_2026q4_cash_after_capex |
| /operating_model/cells/base_2026q4_cash_with_funding:base/formula/refs/1 | None | base_2026q4_funding_sources |
| /operating_model/cells/base_2026q4_cash_with_funding:base/id | None | base_2026q4_cash_with_funding |
| /operating_model/cells/base_2026q4_cash_with_funding:base/kind | None | derived |
| /operating_model/cells/base_2026q4_cash_with_funding:base/label | None | Operating cash after capex plus funding |
| /operating_model/cells/base_2026q4_cash_with_funding:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_cash_with_funding:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_cash_with_funding:base/value | None | -70.94949999999994 |
| /operating_model/cells/base_2026q4_eligible_restricted_fraction:base/basis | None | Desk fraction of modeled construction cash paid from existing eligible project funds. Must be between zero and one, cannot exceed available restricted funds, and never releases noncurrent reserves. |
| /operating_model/cells/base_2026q4_eligible_restricted_fraction:base/case | None | base |
| /operating_model/cells/base_2026q4_eligible_restricted_fraction:base/id | None | base_2026q4_eligible_restricted_fraction |
| /operating_model/cells/base_2026q4_eligible_restricted_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_eligible_restricted_fraction:base/label | None | Construction spending eligible for restricted funding |
| /operating_model/cells/base_2026q4_eligible_restricted_fraction:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_eligible_restricted_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2026q4_eligible_restricted_fraction:base/value | None | 0.9 |
| /operating_model/cells/base_2026q4_external_net_funding:base/basis | None | No unspecified new funding assumed. A negative funding balance identifies financing or spending changes still needed; it is not a forecast negative bank balance. |
| /operating_model/cells/base_2026q4_external_net_funding:base/case | None | base |
| /operating_model/cells/base_2026q4_external_net_funding:base/id | None | base_2026q4_external_net_funding |
| /operating_model/cells/base_2026q4_external_net_funding:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_external_net_funding:base/label | None | Additional net financing assumed |
| /operating_model/cells/base_2026q4_external_net_funding:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_external_net_funding:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_external_net_funding:base/value | None | 0.0 |
| /operating_model/cells/base_2026q4_funding_balance:base/basis | None | June unrestricted-cash baseline rolled through operating, capex and explicit funding assumptions. Negative means an unfilled funding requirement. This is not current cash, bank availability, owner distributions or a fully funded claim. |
| /operating_model/cells/base_2026q4_funding_balance:base/case | None | base |
| /operating_model/cells/base_2026q4_funding_balance:base/formula/op | None | sum |
| /operating_model/cells/base_2026q4_funding_balance:base/formula/refs/0 | None | base_2026q3_funding_balance |
| /operating_model/cells/base_2026q4_funding_balance:base/formula/refs/1 | None | base_2026q4_funding_change |
| /operating_model/cells/base_2026q4_funding_balance:base/id | None | base_2026q4_funding_balance |
| /operating_model/cells/base_2026q4_funding_balance:base/kind | None | derived |
| /operating_model/cells/base_2026q4_funding_balance:base/label | None | Funding balance under stated assumptions |
| /operating_model/cells/base_2026q4_funding_balance:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_funding_balance:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_funding_balance:base/value | None | 589.974 |
| /operating_model/cells/base_2026q4_funding_change:base/basis | None | Funding inflows less explicit cash uses; not a full GAAP cash-flow statement. |
| /operating_model/cells/base_2026q4_funding_change:base/case | None | base |
| /operating_model/cells/base_2026q4_funding_change:base/formula/op | None | subtract |
| /operating_model/cells/base_2026q4_funding_change:base/formula/refs/0 | None | base_2026q4_cash_with_funding |
| /operating_model/cells/base_2026q4_funding_change:base/formula/refs/1 | None | base_2026q4_funding_uses |
| /operating_model/cells/base_2026q4_funding_change:base/id | None | base_2026q4_funding_change |
| /operating_model/cells/base_2026q4_funding_change:base/kind | None | derived |
| /operating_model/cells/base_2026q4_funding_change:base/label | None | Net modeled funding change |
| /operating_model/cells/base_2026q4_funding_change:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_funding_change:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_funding_change:base/value | None | -89.42549999999994 |
| /operating_model/cells/base_2026q4_funding_sources:base/basis | None | Transfers from restricted cash, dated financing and conditional disposals stay distinct from revenue. |
| /operating_model/cells/base_2026q4_funding_sources:base/case | None | base |
| /operating_model/cells/base_2026q4_funding_sources:base/formula/op | None | sum |
| /operating_model/cells/base_2026q4_funding_sources:base/formula/refs/0 | None | base_2026q4_restricted_release |
| /operating_model/cells/base_2026q4_funding_sources:base/formula/refs/1 | None | base_2026q4_external_net_funding |
| /operating_model/cells/base_2026q4_funding_sources:base/formula/refs/2 | None | base_2026q4_asset_sale_cash |
| /operating_model/cells/base_2026q4_funding_sources:base/id | None | base_2026q4_funding_sources |
| /operating_model/cells/base_2026q4_funding_sources:base/kind | None | derived |
| /operating_model/cells/base_2026q4_funding_sources:base/label | None | Funding inflows outside operating model |
| /operating_model/cells/base_2026q4_funding_sources:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_funding_sources:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_funding_sources:base/value | None | 540.0 |
| /operating_model/cells/base_2026q4_funding_uses:base/basis | None | Principal and extra investing/ownership uses; interest, working capital and capex are already in the existing operating bridge. |
| /operating_model/cells/base_2026q4_funding_uses:base/case | None | base |
| /operating_model/cells/base_2026q4_funding_uses:base/formula/op | None | sum |
| /operating_model/cells/base_2026q4_funding_uses:base/formula/refs/0 | None | base_2026q4_principal_cash |
| /operating_model/cells/base_2026q4_funding_uses:base/formula/refs/1 | None | base_2026q4_other_funding_uses |
| /operating_model/cells/base_2026q4_funding_uses:base/id | None | base_2026q4_funding_uses |
| /operating_model/cells/base_2026q4_funding_uses:base/kind | None | derived |
| /operating_model/cells/base_2026q4_funding_uses:base/label | None | Cash uses outside operating model |
| /operating_model/cells/base_2026q4_funding_uses:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_funding_uses:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_funding_uses:base/value | None | 18.476 |
| /operating_model/cells/base_2026q4_other_funding_uses:base/basis | None | Explicit desk allowance outside operating cash/capex: includes $10M assumed sale costs only for WULF upside closing. Zero otherwise leaves undisclosed acquisitions, contingent settlements and minority distributions unmodeled, not known absent. Construction reimbursements already included in capex are not deducted again. |
| /operating_model/cells/base_2026q4_other_funding_uses:base/case | None | base |
| /operating_model/cells/base_2026q4_other_funding_uses:base/id | None | base_2026q4_other_funding_uses |
| /operating_model/cells/base_2026q4_other_funding_uses:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_other_funding_uses:base/label | None | Additional investing, fees and outside-owner cash uses |
| /operating_model/cells/base_2026q4_other_funding_uses:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_other_funding_uses:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_other_funding_uses:base/value | None | 0.0 |
| /operating_model/cells/base_2026q4_principal_cash:base/basis | None | Annual disclosed maturity times explicit quarterly allocation. No second deduction of operating coupon costs. |
| /operating_model/cells/base_2026q4_principal_cash:base/case | None | base |
| /operating_model/cells/base_2026q4_principal_cash:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q4_principal_cash:base/formula/refs/0 | None | scheduled_h2_principal |
| /operating_model/cells/base_2026q4_principal_cash:base/formula/refs/1 | None | base_2026q4_principal_weight |
| /operating_model/cells/base_2026q4_principal_cash:base/id | None | base_2026q4_principal_cash |
| /operating_model/cells/base_2026q4_principal_cash:base/kind | None | derived |
| /operating_model/cells/base_2026q4_principal_cash:base/label | None | Scheduled principal cash use |
| /operating_model/cells/base_2026q4_principal_cash:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_principal_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_principal_cash:base/value | None | 18.476 |
| /operating_model/cells/base_2026q4_principal_weight:base/basis | None | Desk timing of disclosed maturity total; CIFR 2027 is spread evenly as a planning proxy across different project instruments. Annual principal reconciles, but this is not an exact payment calendar. |
| /operating_model/cells/base_2026q4_principal_weight:base/case | None | base |
| /operating_model/cells/base_2026q4_principal_weight:base/id | None | base_2026q4_principal_weight |
| /operating_model/cells/base_2026q4_principal_weight:base/kind | None | assumption |
| /operating_model/cells/base_2026q4_principal_weight:base/label | None | Share of dated annual principal schedule |
| /operating_model/cells/base_2026q4_principal_weight:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_principal_weight:base/unit | None | ratio |
| /operating_model/cells/base_2026q4_principal_weight:base/value | None | 1.0 |
| /operating_model/cells/base_2026q4_restricted_release:base/basis | None | Modeled construction capex times eligible restricted-funding fraction; existing project cash funds an eligible use, not corporate income. Published cases preserve the noncurrent reserve and never release more than construction spending. |
| /operating_model/cells/base_2026q4_restricted_release:base/case | None | base |
| /operating_model/cells/base_2026q4_restricted_release:base/formula/op | None | multiply |
| /operating_model/cells/base_2026q4_restricted_release:base/formula/refs/0 | None | base_2026q4_capex |
| /operating_model/cells/base_2026q4_restricted_release:base/formula/refs/1 | None | base_2026q4_eligible_restricted_fraction |
| /operating_model/cells/base_2026q4_restricted_release:base/id | None | base_2026q4_restricted_release |
| /operating_model/cells/base_2026q4_restricted_release:base/kind | None | derived |
| /operating_model/cells/base_2026q4_restricted_release:base/label | None | Restricted funds used for qualifying spending |
| /operating_model/cells/base_2026q4_restricted_release:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_restricted_release:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_restricted_release:base/value | None | 540.0 |
| /operating_model/cells/base_2026q4_restricted_remaining:base/basis | None | Opening restricted balance less modeled release. Not automatically available to satisfy other project or parent claims. |
| /operating_model/cells/base_2026q4_restricted_remaining:base/case | None | base |
| /operating_model/cells/base_2026q4_restricted_remaining:base/formula/op | None | subtract |
| /operating_model/cells/base_2026q4_restricted_remaining:base/formula/refs/0 | None | base_2026q3_restricted_remaining |
| /operating_model/cells/base_2026q4_restricted_remaining:base/formula/refs/1 | None | base_2026q4_restricted_release |
| /operating_model/cells/base_2026q4_restricted_remaining:base/id | None | base_2026q4_restricted_remaining |
| /operating_model/cells/base_2026q4_restricted_remaining:base/kind | None | derived |
| /operating_model/cells/base_2026q4_restricted_remaining:base/label | None | Remaining restricted cash in funding bridge |
| /operating_model/cells/base_2026q4_restricted_remaining:base/period | None | 2026Q4 |
| /operating_model/cells/base_2026q4_restricted_remaining:base/unit | None | USD_millions |
| /operating_model/cells/base_2026q4_restricted_remaining:base/value | None | 2647.958 |
| /operating_model/cells/base_2027q1_asset_sale_cash:base/basis | None | No other asset sales assumed; no sale revenue is counted as recurring operating cash. |
| /operating_model/cells/base_2027q1_asset_sale_cash:base/case | None | base |
| /operating_model/cells/base_2027q1_asset_sale_cash:base/id | None | base_2027q1_asset_sale_cash |
| /operating_model/cells/base_2027q1_asset_sale_cash:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_asset_sale_cash:base/label | None | Asset-sale cash assumed |
| /operating_model/cells/base_2027q1_asset_sale_cash:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_asset_sale_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_asset_sale_cash:base/value | None | 0.0 |
| /operating_model/cells/base_2027q1_cash_with_funding:base/basis | None | Combines the operating model with explicit financing/restricted-fund assumptions once. |
| /operating_model/cells/base_2027q1_cash_with_funding:base/case | None | base |
| /operating_model/cells/base_2027q1_cash_with_funding:base/formula/op | None | sum |
| /operating_model/cells/base_2027q1_cash_with_funding:base/formula/refs/0 | None | base_2027q1_cash_after_capex |
| /operating_model/cells/base_2027q1_cash_with_funding:base/formula/refs/1 | None | base_2027q1_funding_sources |
| /operating_model/cells/base_2027q1_cash_with_funding:base/id | None | base_2027q1_cash_with_funding |
| /operating_model/cells/base_2027q1_cash_with_funding:base/kind | None | derived |
| /operating_model/cells/base_2027q1_cash_with_funding:base/label | None | Operating cash after capex plus funding |
| /operating_model/cells/base_2027q1_cash_with_funding:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_cash_with_funding:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_cash_with_funding:base/value | None | -18.879962500000033 |
| /operating_model/cells/base_2027q1_eligible_restricted_fraction:base/basis | None | Desk fraction of modeled construction cash paid from existing eligible project funds. Must be between zero and one, cannot exceed available restricted funds, and never releases noncurrent reserves. |
| /operating_model/cells/base_2027q1_eligible_restricted_fraction:base/case | None | base |
| /operating_model/cells/base_2027q1_eligible_restricted_fraction:base/id | None | base_2027q1_eligible_restricted_fraction |
| /operating_model/cells/base_2027q1_eligible_restricted_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_eligible_restricted_fraction:base/label | None | Construction spending eligible for restricted funding |
| /operating_model/cells/base_2027q1_eligible_restricted_fraction:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_eligible_restricted_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2027q1_eligible_restricted_fraction:base/value | None | 0.9 |
| /operating_model/cells/base_2027q1_external_net_funding:base/basis | None | No unspecified new funding assumed. A negative funding balance identifies financing or spending changes still needed; it is not a forecast negative bank balance. |
| /operating_model/cells/base_2027q1_external_net_funding:base/case | None | base |
| /operating_model/cells/base_2027q1_external_net_funding:base/id | None | base_2027q1_external_net_funding |
| /operating_model/cells/base_2027q1_external_net_funding:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_external_net_funding:base/label | None | Additional net financing assumed |
| /operating_model/cells/base_2027q1_external_net_funding:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_external_net_funding:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_external_net_funding:base/value | None | 0.0 |
| /operating_model/cells/base_2027q1_funding_balance:base/basis | None | June unrestricted-cash baseline rolled through operating, capex and explicit funding assumptions. Negative means an unfilled funding requirement. This is not current cash, bank availability, owner distributions or a fully funded claim. |
| /operating_model/cells/base_2027q1_funding_balance:base/case | None | base |
| /operating_model/cells/base_2027q1_funding_balance:base/formula/op | None | sum |
| /operating_model/cells/base_2027q1_funding_balance:base/formula/refs/0 | None | base_2026q4_funding_balance |
| /operating_model/cells/base_2027q1_funding_balance:base/formula/refs/1 | None | base_2027q1_funding_change |
| /operating_model/cells/base_2027q1_funding_balance:base/id | None | base_2027q1_funding_balance |
| /operating_model/cells/base_2027q1_funding_balance:base/kind | None | derived |
| /operating_model/cells/base_2027q1_funding_balance:base/label | None | Funding balance under stated assumptions |
| /operating_model/cells/base_2027q1_funding_balance:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_funding_balance:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_funding_balance:base/value | None | 516.8177875 |
| /operating_model/cells/base_2027q1_funding_change:base/basis | None | Funding inflows less explicit cash uses; not a full GAAP cash-flow statement. |
| /operating_model/cells/base_2027q1_funding_change:base/case | None | base |
| /operating_model/cells/base_2027q1_funding_change:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q1_funding_change:base/formula/refs/0 | None | base_2027q1_cash_with_funding |
| /operating_model/cells/base_2027q1_funding_change:base/formula/refs/1 | None | base_2027q1_funding_uses |
| /operating_model/cells/base_2027q1_funding_change:base/id | None | base_2027q1_funding_change |
| /operating_model/cells/base_2027q1_funding_change:base/kind | None | derived |
| /operating_model/cells/base_2027q1_funding_change:base/label | None | Net modeled funding change |
| /operating_model/cells/base_2027q1_funding_change:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_funding_change:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_funding_change:base/value | None | -73.15621250000004 |
| /operating_model/cells/base_2027q1_funding_sources:base/basis | None | Transfers from restricted cash, dated financing and conditional disposals stay distinct from revenue. |
| /operating_model/cells/base_2027q1_funding_sources:base/case | None | base |
| /operating_model/cells/base_2027q1_funding_sources:base/formula/op | None | sum |
| /operating_model/cells/base_2027q1_funding_sources:base/formula/refs/0 | None | base_2027q1_restricted_release |
| /operating_model/cells/base_2027q1_funding_sources:base/formula/refs/1 | None | base_2027q1_external_net_funding |
| /operating_model/cells/base_2027q1_funding_sources:base/formula/refs/2 | None | base_2027q1_asset_sale_cash |
| /operating_model/cells/base_2027q1_funding_sources:base/id | None | base_2027q1_funding_sources |
| /operating_model/cells/base_2027q1_funding_sources:base/kind | None | derived |
| /operating_model/cells/base_2027q1_funding_sources:base/label | None | Funding inflows outside operating model |
| /operating_model/cells/base_2027q1_funding_sources:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_funding_sources:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_funding_sources:base/value | None | 315.0 |
| /operating_model/cells/base_2027q1_funding_uses:base/basis | None | Principal and extra investing/ownership uses; interest, working capital and capex are already in the existing operating bridge. |
| /operating_model/cells/base_2027q1_funding_uses:base/case | None | base |
| /operating_model/cells/base_2027q1_funding_uses:base/formula/op | None | sum |
| /operating_model/cells/base_2027q1_funding_uses:base/formula/refs/0 | None | base_2027q1_principal_cash |
| /operating_model/cells/base_2027q1_funding_uses:base/formula/refs/1 | None | base_2027q1_other_funding_uses |
| /operating_model/cells/base_2027q1_funding_uses:base/id | None | base_2027q1_funding_uses |
| /operating_model/cells/base_2027q1_funding_uses:base/kind | None | derived |
| /operating_model/cells/base_2027q1_funding_uses:base/label | None | Cash uses outside operating model |
| /operating_model/cells/base_2027q1_funding_uses:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_funding_uses:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_funding_uses:base/value | None | 54.27625 |
| /operating_model/cells/base_2027q1_other_funding_uses:base/basis | None | Explicit desk allowance outside operating cash/capex: includes $10M assumed sale costs only for WULF upside closing. Zero otherwise leaves undisclosed acquisitions, contingent settlements and minority distributions unmodeled, not known absent. Construction reimbursements already included in capex are not deducted again. |
| /operating_model/cells/base_2027q1_other_funding_uses:base/case | None | base |
| /operating_model/cells/base_2027q1_other_funding_uses:base/id | None | base_2027q1_other_funding_uses |
| /operating_model/cells/base_2027q1_other_funding_uses:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_other_funding_uses:base/label | None | Additional investing, fees and outside-owner cash uses |
| /operating_model/cells/base_2027q1_other_funding_uses:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_other_funding_uses:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_other_funding_uses:base/value | None | 0.0 |
| /operating_model/cells/base_2027q1_principal_cash:base/basis | None | Annual disclosed maturity times explicit quarterly allocation. No second deduction of operating coupon costs. |
| /operating_model/cells/base_2027q1_principal_cash:base/case | None | base |
| /operating_model/cells/base_2027q1_principal_cash:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q1_principal_cash:base/formula/refs/0 | None | scheduled_2027_principal |
| /operating_model/cells/base_2027q1_principal_cash:base/formula/refs/1 | None | base_2027q1_principal_weight |
| /operating_model/cells/base_2027q1_principal_cash:base/id | None | base_2027q1_principal_cash |
| /operating_model/cells/base_2027q1_principal_cash:base/kind | None | derived |
| /operating_model/cells/base_2027q1_principal_cash:base/label | None | Scheduled principal cash use |
| /operating_model/cells/base_2027q1_principal_cash:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_principal_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_principal_cash:base/value | None | 54.27625 |
| /operating_model/cells/base_2027q1_principal_weight:base/basis | None | Desk timing of disclosed maturity total; CIFR 2027 is spread evenly as a planning proxy across different project instruments. Annual principal reconciles, but this is not an exact payment calendar. |
| /operating_model/cells/base_2027q1_principal_weight:base/case | None | base |
| /operating_model/cells/base_2027q1_principal_weight:base/id | None | base_2027q1_principal_weight |
| /operating_model/cells/base_2027q1_principal_weight:base/kind | None | assumption |
| /operating_model/cells/base_2027q1_principal_weight:base/label | None | Share of dated annual principal schedule |
| /operating_model/cells/base_2027q1_principal_weight:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_principal_weight:base/unit | None | ratio |
| /operating_model/cells/base_2027q1_principal_weight:base/value | None | 0.25 |
| /operating_model/cells/base_2027q1_restricted_release:base/basis | None | Modeled construction capex times eligible restricted-funding fraction; existing project cash funds an eligible use, not corporate income. Published cases preserve the noncurrent reserve and never release more than construction spending. |
| /operating_model/cells/base_2027q1_restricted_release:base/case | None | base |
| /operating_model/cells/base_2027q1_restricted_release:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q1_restricted_release:base/formula/refs/0 | None | base_2027q1_capex |
| /operating_model/cells/base_2027q1_restricted_release:base/formula/refs/1 | None | base_2027q1_eligible_restricted_fraction |
| /operating_model/cells/base_2027q1_restricted_release:base/id | None | base_2027q1_restricted_release |
| /operating_model/cells/base_2027q1_restricted_release:base/kind | None | derived |
| /operating_model/cells/base_2027q1_restricted_release:base/label | None | Restricted funds used for qualifying spending |
| /operating_model/cells/base_2027q1_restricted_release:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_restricted_release:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_restricted_release:base/value | None | 315.0 |
| /operating_model/cells/base_2027q1_restricted_remaining:base/basis | None | Opening restricted balance less modeled release. Not automatically available to satisfy other project or parent claims. |
| /operating_model/cells/base_2027q1_restricted_remaining:base/case | None | base |
| /operating_model/cells/base_2027q1_restricted_remaining:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q1_restricted_remaining:base/formula/refs/0 | None | base_2026q4_restricted_remaining |
| /operating_model/cells/base_2027q1_restricted_remaining:base/formula/refs/1 | None | base_2027q1_restricted_release |
| /operating_model/cells/base_2027q1_restricted_remaining:base/id | None | base_2027q1_restricted_remaining |
| /operating_model/cells/base_2027q1_restricted_remaining:base/kind | None | derived |
| /operating_model/cells/base_2027q1_restricted_remaining:base/label | None | Remaining restricted cash in funding bridge |
| /operating_model/cells/base_2027q1_restricted_remaining:base/period | None | 2027Q1 |
| /operating_model/cells/base_2027q1_restricted_remaining:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q1_restricted_remaining:base/value | None | 2332.958 |
| /operating_model/cells/base_2027q2_asset_sale_cash:base/basis | None | No other asset sales assumed; no sale revenue is counted as recurring operating cash. |
| /operating_model/cells/base_2027q2_asset_sale_cash:base/case | None | base |
| /operating_model/cells/base_2027q2_asset_sale_cash:base/id | None | base_2027q2_asset_sale_cash |
| /operating_model/cells/base_2027q2_asset_sale_cash:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_asset_sale_cash:base/label | None | Asset-sale cash assumed |
| /operating_model/cells/base_2027q2_asset_sale_cash:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_asset_sale_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_asset_sale_cash:base/value | None | 0.0 |
| /operating_model/cells/base_2027q2_cash_with_funding:base/basis | None | Combines the operating model with explicit financing/restricted-fund assumptions once. |
| /operating_model/cells/base_2027q2_cash_with_funding:base/case | None | base |
| /operating_model/cells/base_2027q2_cash_with_funding:base/formula/op | None | sum |
| /operating_model/cells/base_2027q2_cash_with_funding:base/formula/refs/0 | None | base_2027q2_cash_after_capex |
| /operating_model/cells/base_2027q2_cash_with_funding:base/formula/refs/1 | None | base_2027q2_funding_sources |
| /operating_model/cells/base_2027q2_cash_with_funding:base/id | None | base_2027q2_cash_with_funding |
| /operating_model/cells/base_2027q2_cash_with_funding:base/kind | None | derived |
| /operating_model/cells/base_2027q2_cash_with_funding:base/label | None | Operating cash after capex plus funding |
| /operating_model/cells/base_2027q2_cash_with_funding:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_cash_with_funding:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_cash_with_funding:base/value | None | 26.969574999999992 |
| /operating_model/cells/base_2027q2_eligible_restricted_fraction:base/basis | None | Desk fraction of modeled construction cash paid from existing eligible project funds. Must be between zero and one, cannot exceed available restricted funds, and never releases noncurrent reserves. |
| /operating_model/cells/base_2027q2_eligible_restricted_fraction:base/case | None | base |
| /operating_model/cells/base_2027q2_eligible_restricted_fraction:base/id | None | base_2027q2_eligible_restricted_fraction |
| /operating_model/cells/base_2027q2_eligible_restricted_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_eligible_restricted_fraction:base/label | None | Construction spending eligible for restricted funding |
| /operating_model/cells/base_2027q2_eligible_restricted_fraction:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_eligible_restricted_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2027q2_eligible_restricted_fraction:base/value | None | 0.9 |
| /operating_model/cells/base_2027q2_external_net_funding:base/basis | None | No unspecified new funding assumed. A negative funding balance identifies financing or spending changes still needed; it is not a forecast negative bank balance. |
| /operating_model/cells/base_2027q2_external_net_funding:base/case | None | base |
| /operating_model/cells/base_2027q2_external_net_funding:base/id | None | base_2027q2_external_net_funding |
| /operating_model/cells/base_2027q2_external_net_funding:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_external_net_funding:base/label | None | Additional net financing assumed |
| /operating_model/cells/base_2027q2_external_net_funding:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_external_net_funding:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_external_net_funding:base/value | None | 0.0 |
| /operating_model/cells/base_2027q2_funding_balance:base/basis | None | June unrestricted-cash baseline rolled through operating, capex and explicit funding assumptions. Negative means an unfilled funding requirement. This is not current cash, bank availability, owner distributions or a fully funded claim. |
| /operating_model/cells/base_2027q2_funding_balance:base/case | None | base |
| /operating_model/cells/base_2027q2_funding_balance:base/formula/op | None | sum |
| /operating_model/cells/base_2027q2_funding_balance:base/formula/refs/0 | None | base_2027q1_funding_balance |
| /operating_model/cells/base_2027q2_funding_balance:base/formula/refs/1 | None | base_2027q2_funding_change |
| /operating_model/cells/base_2027q2_funding_balance:base/id | None | base_2027q2_funding_balance |
| /operating_model/cells/base_2027q2_funding_balance:base/kind | None | derived |
| /operating_model/cells/base_2027q2_funding_balance:base/label | None | Funding balance under stated assumptions |
| /operating_model/cells/base_2027q2_funding_balance:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_funding_balance:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_funding_balance:base/value | None | 489.5111125 |
| /operating_model/cells/base_2027q2_funding_change:base/basis | None | Funding inflows less explicit cash uses; not a full GAAP cash-flow statement. |
| /operating_model/cells/base_2027q2_funding_change:base/case | None | base |
| /operating_model/cells/base_2027q2_funding_change:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q2_funding_change:base/formula/refs/0 | None | base_2027q2_cash_with_funding |
| /operating_model/cells/base_2027q2_funding_change:base/formula/refs/1 | None | base_2027q2_funding_uses |
| /operating_model/cells/base_2027q2_funding_change:base/id | None | base_2027q2_funding_change |
| /operating_model/cells/base_2027q2_funding_change:base/kind | None | derived |
| /operating_model/cells/base_2027q2_funding_change:base/label | None | Net modeled funding change |
| /operating_model/cells/base_2027q2_funding_change:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_funding_change:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_funding_change:base/value | None | -27.306675000000006 |
| /operating_model/cells/base_2027q2_funding_sources:base/basis | None | Transfers from restricted cash, dated financing and conditional disposals stay distinct from revenue. |
| /operating_model/cells/base_2027q2_funding_sources:base/case | None | base |
| /operating_model/cells/base_2027q2_funding_sources:base/formula/op | None | sum |
| /operating_model/cells/base_2027q2_funding_sources:base/formula/refs/0 | None | base_2027q2_restricted_release |
| /operating_model/cells/base_2027q2_funding_sources:base/formula/refs/1 | None | base_2027q2_external_net_funding |
| /operating_model/cells/base_2027q2_funding_sources:base/formula/refs/2 | None | base_2027q2_asset_sale_cash |
| /operating_model/cells/base_2027q2_funding_sources:base/id | None | base_2027q2_funding_sources |
| /operating_model/cells/base_2027q2_funding_sources:base/kind | None | derived |
| /operating_model/cells/base_2027q2_funding_sources:base/label | None | Funding inflows outside operating model |
| /operating_model/cells/base_2027q2_funding_sources:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_funding_sources:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_funding_sources:base/value | None | 270.0 |
| /operating_model/cells/base_2027q2_funding_uses:base/basis | None | Principal and extra investing/ownership uses; interest, working capital and capex are already in the existing operating bridge. |
| /operating_model/cells/base_2027q2_funding_uses:base/case | None | base |
| /operating_model/cells/base_2027q2_funding_uses:base/formula/op | None | sum |
| /operating_model/cells/base_2027q2_funding_uses:base/formula/refs/0 | None | base_2027q2_principal_cash |
| /operating_model/cells/base_2027q2_funding_uses:base/formula/refs/1 | None | base_2027q2_other_funding_uses |
| /operating_model/cells/base_2027q2_funding_uses:base/id | None | base_2027q2_funding_uses |
| /operating_model/cells/base_2027q2_funding_uses:base/kind | None | derived |
| /operating_model/cells/base_2027q2_funding_uses:base/label | None | Cash uses outside operating model |
| /operating_model/cells/base_2027q2_funding_uses:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_funding_uses:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_funding_uses:base/value | None | 54.27625 |
| /operating_model/cells/base_2027q2_other_funding_uses:base/basis | None | Explicit desk allowance outside operating cash/capex: includes $10M assumed sale costs only for WULF upside closing. Zero otherwise leaves undisclosed acquisitions, contingent settlements and minority distributions unmodeled, not known absent. Construction reimbursements already included in capex are not deducted again. |
| /operating_model/cells/base_2027q2_other_funding_uses:base/case | None | base |
| /operating_model/cells/base_2027q2_other_funding_uses:base/id | None | base_2027q2_other_funding_uses |
| /operating_model/cells/base_2027q2_other_funding_uses:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_other_funding_uses:base/label | None | Additional investing, fees and outside-owner cash uses |
| /operating_model/cells/base_2027q2_other_funding_uses:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_other_funding_uses:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_other_funding_uses:base/value | None | 0.0 |
| /operating_model/cells/base_2027q2_principal_cash:base/basis | None | Annual disclosed maturity times explicit quarterly allocation. No second deduction of operating coupon costs. |
| /operating_model/cells/base_2027q2_principal_cash:base/case | None | base |
| /operating_model/cells/base_2027q2_principal_cash:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q2_principal_cash:base/formula/refs/0 | None | scheduled_2027_principal |
| /operating_model/cells/base_2027q2_principal_cash:base/formula/refs/1 | None | base_2027q2_principal_weight |
| /operating_model/cells/base_2027q2_principal_cash:base/id | None | base_2027q2_principal_cash |
| /operating_model/cells/base_2027q2_principal_cash:base/kind | None | derived |
| /operating_model/cells/base_2027q2_principal_cash:base/label | None | Scheduled principal cash use |
| /operating_model/cells/base_2027q2_principal_cash:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_principal_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_principal_cash:base/value | None | 54.27625 |
| /operating_model/cells/base_2027q2_principal_weight:base/basis | None | Desk timing of disclosed maturity total; CIFR 2027 is spread evenly as a planning proxy across different project instruments. Annual principal reconciles, but this is not an exact payment calendar. |
| /operating_model/cells/base_2027q2_principal_weight:base/case | None | base |
| /operating_model/cells/base_2027q2_principal_weight:base/id | None | base_2027q2_principal_weight |
| /operating_model/cells/base_2027q2_principal_weight:base/kind | None | assumption |
| /operating_model/cells/base_2027q2_principal_weight:base/label | None | Share of dated annual principal schedule |
| /operating_model/cells/base_2027q2_principal_weight:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_principal_weight:base/unit | None | ratio |
| /operating_model/cells/base_2027q2_principal_weight:base/value | None | 0.25 |
| /operating_model/cells/base_2027q2_restricted_release:base/basis | None | Modeled construction capex times eligible restricted-funding fraction; existing project cash funds an eligible use, not corporate income. Published cases preserve the noncurrent reserve and never release more than construction spending. |
| /operating_model/cells/base_2027q2_restricted_release:base/case | None | base |
| /operating_model/cells/base_2027q2_restricted_release:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q2_restricted_release:base/formula/refs/0 | None | base_2027q2_capex |
| /operating_model/cells/base_2027q2_restricted_release:base/formula/refs/1 | None | base_2027q2_eligible_restricted_fraction |
| /operating_model/cells/base_2027q2_restricted_release:base/id | None | base_2027q2_restricted_release |
| /operating_model/cells/base_2027q2_restricted_release:base/kind | None | derived |
| /operating_model/cells/base_2027q2_restricted_release:base/label | None | Restricted funds used for qualifying spending |
| /operating_model/cells/base_2027q2_restricted_release:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_restricted_release:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_restricted_release:base/value | None | 270.0 |
| /operating_model/cells/base_2027q2_restricted_remaining:base/basis | None | Opening restricted balance less modeled release. Not automatically available to satisfy other project or parent claims. |
| /operating_model/cells/base_2027q2_restricted_remaining:base/case | None | base |
| /operating_model/cells/base_2027q2_restricted_remaining:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q2_restricted_remaining:base/formula/refs/0 | None | base_2027q1_restricted_remaining |
| /operating_model/cells/base_2027q2_restricted_remaining:base/formula/refs/1 | None | base_2027q2_restricted_release |
| /operating_model/cells/base_2027q2_restricted_remaining:base/id | None | base_2027q2_restricted_remaining |
| /operating_model/cells/base_2027q2_restricted_remaining:base/kind | None | derived |
| /operating_model/cells/base_2027q2_restricted_remaining:base/label | None | Remaining restricted cash in funding bridge |
| /operating_model/cells/base_2027q2_restricted_remaining:base/period | None | 2027Q2 |
| /operating_model/cells/base_2027q2_restricted_remaining:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q2_restricted_remaining:base/value | None | 2062.958 |
| /operating_model/cells/base_2027q3_asset_sale_cash:base/basis | None | No other asset sales assumed; no sale revenue is counted as recurring operating cash. |
| /operating_model/cells/base_2027q3_asset_sale_cash:base/case | None | base |
| /operating_model/cells/base_2027q3_asset_sale_cash:base/id | None | base_2027q3_asset_sale_cash |
| /operating_model/cells/base_2027q3_asset_sale_cash:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_asset_sale_cash:base/label | None | Asset-sale cash assumed |
| /operating_model/cells/base_2027q3_asset_sale_cash:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_asset_sale_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_asset_sale_cash:base/value | None | 0.0 |
| /operating_model/cells/base_2027q3_cash_with_funding:base/basis | None | Combines the operating model with explicit financing/restricted-fund assumptions once. |
| /operating_model/cells/base_2027q3_cash_with_funding:base/case | None | base |
| /operating_model/cells/base_2027q3_cash_with_funding:base/formula/op | None | sum |
| /operating_model/cells/base_2027q3_cash_with_funding:base/formula/refs/0 | None | base_2027q3_cash_after_capex |
| /operating_model/cells/base_2027q3_cash_with_funding:base/formula/refs/1 | None | base_2027q3_funding_sources |
| /operating_model/cells/base_2027q3_cash_with_funding:base/id | None | base_2027q3_cash_with_funding |
| /operating_model/cells/base_2027q3_cash_with_funding:base/kind | None | derived |
| /operating_model/cells/base_2027q3_cash_with_funding:base/label | None | Operating cash after capex plus funding |
| /operating_model/cells/base_2027q3_cash_with_funding:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_cash_with_funding:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_cash_with_funding:base/value | None | 77.81911249999999 |
| /operating_model/cells/base_2027q3_eligible_restricted_fraction:base/basis | None | Desk fraction of modeled construction cash paid from existing eligible project funds. Must be between zero and one, cannot exceed available restricted funds, and never releases noncurrent reserves. |
| /operating_model/cells/base_2027q3_eligible_restricted_fraction:base/case | None | base |
| /operating_model/cells/base_2027q3_eligible_restricted_fraction:base/id | None | base_2027q3_eligible_restricted_fraction |
| /operating_model/cells/base_2027q3_eligible_restricted_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_eligible_restricted_fraction:base/label | None | Construction spending eligible for restricted funding |
| /operating_model/cells/base_2027q3_eligible_restricted_fraction:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_eligible_restricted_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2027q3_eligible_restricted_fraction:base/value | None | 0.9 |
| /operating_model/cells/base_2027q3_external_net_funding:base/basis | None | No unspecified new funding assumed. A negative funding balance identifies financing or spending changes still needed; it is not a forecast negative bank balance. |
| /operating_model/cells/base_2027q3_external_net_funding:base/case | None | base |
| /operating_model/cells/base_2027q3_external_net_funding:base/id | None | base_2027q3_external_net_funding |
| /operating_model/cells/base_2027q3_external_net_funding:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_external_net_funding:base/label | None | Additional net financing assumed |
| /operating_model/cells/base_2027q3_external_net_funding:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_external_net_funding:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_external_net_funding:base/value | None | 0.0 |
| /operating_model/cells/base_2027q3_funding_balance:base/basis | None | June unrestricted-cash baseline rolled through operating, capex and explicit funding assumptions. Negative means an unfilled funding requirement. This is not current cash, bank availability, owner distributions or a fully funded claim. |
| /operating_model/cells/base_2027q3_funding_balance:base/case | None | base |
| /operating_model/cells/base_2027q3_funding_balance:base/formula/op | None | sum |
| /operating_model/cells/base_2027q3_funding_balance:base/formula/refs/0 | None | base_2027q2_funding_balance |
| /operating_model/cells/base_2027q3_funding_balance:base/formula/refs/1 | None | base_2027q3_funding_change |
| /operating_model/cells/base_2027q3_funding_balance:base/id | None | base_2027q3_funding_balance |
| /operating_model/cells/base_2027q3_funding_balance:base/kind | None | derived |
| /operating_model/cells/base_2027q3_funding_balance:base/label | None | Funding balance under stated assumptions |
| /operating_model/cells/base_2027q3_funding_balance:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_funding_balance:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_funding_balance:base/value | None | 513.053975 |
| /operating_model/cells/base_2027q3_funding_change:base/basis | None | Funding inflows less explicit cash uses; not a full GAAP cash-flow statement. |
| /operating_model/cells/base_2027q3_funding_change:base/case | None | base |
| /operating_model/cells/base_2027q3_funding_change:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q3_funding_change:base/formula/refs/0 | None | base_2027q3_cash_with_funding |
| /operating_model/cells/base_2027q3_funding_change:base/formula/refs/1 | None | base_2027q3_funding_uses |
| /operating_model/cells/base_2027q3_funding_change:base/id | None | base_2027q3_funding_change |
| /operating_model/cells/base_2027q3_funding_change:base/kind | None | derived |
| /operating_model/cells/base_2027q3_funding_change:base/label | None | Net modeled funding change |
| /operating_model/cells/base_2027q3_funding_change:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_funding_change:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_funding_change:base/value | None | 23.54286249999999 |
| /operating_model/cells/base_2027q3_funding_sources:base/basis | None | Transfers from restricted cash, dated financing and conditional disposals stay distinct from revenue. |
| /operating_model/cells/base_2027q3_funding_sources:base/case | None | base |
| /operating_model/cells/base_2027q3_funding_sources:base/formula/op | None | sum |
| /operating_model/cells/base_2027q3_funding_sources:base/formula/refs/0 | None | base_2027q3_restricted_release |
| /operating_model/cells/base_2027q3_funding_sources:base/formula/refs/1 | None | base_2027q3_external_net_funding |
| /operating_model/cells/base_2027q3_funding_sources:base/formula/refs/2 | None | base_2027q3_asset_sale_cash |
| /operating_model/cells/base_2027q3_funding_sources:base/id | None | base_2027q3_funding_sources |
| /operating_model/cells/base_2027q3_funding_sources:base/kind | None | derived |
| /operating_model/cells/base_2027q3_funding_sources:base/label | None | Funding inflows outside operating model |
| /operating_model/cells/base_2027q3_funding_sources:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_funding_sources:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_funding_sources:base/value | None | 180.0 |
| /operating_model/cells/base_2027q3_funding_uses:base/basis | None | Principal and extra investing/ownership uses; interest, working capital and capex are already in the existing operating bridge. |
| /operating_model/cells/base_2027q3_funding_uses:base/case | None | base |
| /operating_model/cells/base_2027q3_funding_uses:base/formula/op | None | sum |
| /operating_model/cells/base_2027q3_funding_uses:base/formula/refs/0 | None | base_2027q3_principal_cash |
| /operating_model/cells/base_2027q3_funding_uses:base/formula/refs/1 | None | base_2027q3_other_funding_uses |
| /operating_model/cells/base_2027q3_funding_uses:base/id | None | base_2027q3_funding_uses |
| /operating_model/cells/base_2027q3_funding_uses:base/kind | None | derived |
| /operating_model/cells/base_2027q3_funding_uses:base/label | None | Cash uses outside operating model |
| /operating_model/cells/base_2027q3_funding_uses:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_funding_uses:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_funding_uses:base/value | None | 54.27625 |
| /operating_model/cells/base_2027q3_other_funding_uses:base/basis | None | Explicit desk allowance outside operating cash/capex: includes $10M assumed sale costs only for WULF upside closing. Zero otherwise leaves undisclosed acquisitions, contingent settlements and minority distributions unmodeled, not known absent. Construction reimbursements already included in capex are not deducted again. |
| /operating_model/cells/base_2027q3_other_funding_uses:base/case | None | base |
| /operating_model/cells/base_2027q3_other_funding_uses:base/id | None | base_2027q3_other_funding_uses |
| /operating_model/cells/base_2027q3_other_funding_uses:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_other_funding_uses:base/label | None | Additional investing, fees and outside-owner cash uses |
| /operating_model/cells/base_2027q3_other_funding_uses:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_other_funding_uses:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_other_funding_uses:base/value | None | 0.0 |
| /operating_model/cells/base_2027q3_principal_cash:base/basis | None | Annual disclosed maturity times explicit quarterly allocation. No second deduction of operating coupon costs. |
| /operating_model/cells/base_2027q3_principal_cash:base/case | None | base |
| /operating_model/cells/base_2027q3_principal_cash:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q3_principal_cash:base/formula/refs/0 | None | scheduled_2027_principal |
| /operating_model/cells/base_2027q3_principal_cash:base/formula/refs/1 | None | base_2027q3_principal_weight |
| /operating_model/cells/base_2027q3_principal_cash:base/id | None | base_2027q3_principal_cash |
| /operating_model/cells/base_2027q3_principal_cash:base/kind | None | derived |
| /operating_model/cells/base_2027q3_principal_cash:base/label | None | Scheduled principal cash use |
| /operating_model/cells/base_2027q3_principal_cash:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_principal_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_principal_cash:base/value | None | 54.27625 |
| /operating_model/cells/base_2027q3_principal_weight:base/basis | None | Desk timing of disclosed maturity total; CIFR 2027 is spread evenly as a planning proxy across different project instruments. Annual principal reconciles, but this is not an exact payment calendar. |
| /operating_model/cells/base_2027q3_principal_weight:base/case | None | base |
| /operating_model/cells/base_2027q3_principal_weight:base/id | None | base_2027q3_principal_weight |
| /operating_model/cells/base_2027q3_principal_weight:base/kind | None | assumption |
| /operating_model/cells/base_2027q3_principal_weight:base/label | None | Share of dated annual principal schedule |
| /operating_model/cells/base_2027q3_principal_weight:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_principal_weight:base/unit | None | ratio |
| /operating_model/cells/base_2027q3_principal_weight:base/value | None | 0.25 |
| /operating_model/cells/base_2027q3_restricted_release:base/basis | None | Modeled construction capex times eligible restricted-funding fraction; existing project cash funds an eligible use, not corporate income. Published cases preserve the noncurrent reserve and never release more than construction spending. |
| /operating_model/cells/base_2027q3_restricted_release:base/case | None | base |
| /operating_model/cells/base_2027q3_restricted_release:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q3_restricted_release:base/formula/refs/0 | None | base_2027q3_capex |
| /operating_model/cells/base_2027q3_restricted_release:base/formula/refs/1 | None | base_2027q3_eligible_restricted_fraction |
| /operating_model/cells/base_2027q3_restricted_release:base/id | None | base_2027q3_restricted_release |
| /operating_model/cells/base_2027q3_restricted_release:base/kind | None | derived |
| /operating_model/cells/base_2027q3_restricted_release:base/label | None | Restricted funds used for qualifying spending |
| /operating_model/cells/base_2027q3_restricted_release:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_restricted_release:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_restricted_release:base/value | None | 180.0 |
| /operating_model/cells/base_2027q3_restricted_remaining:base/basis | None | Opening restricted balance less modeled release. Not automatically available to satisfy other project or parent claims. |
| /operating_model/cells/base_2027q3_restricted_remaining:base/case | None | base |
| /operating_model/cells/base_2027q3_restricted_remaining:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q3_restricted_remaining:base/formula/refs/0 | None | base_2027q2_restricted_remaining |
| /operating_model/cells/base_2027q3_restricted_remaining:base/formula/refs/1 | None | base_2027q3_restricted_release |
| /operating_model/cells/base_2027q3_restricted_remaining:base/id | None | base_2027q3_restricted_remaining |
| /operating_model/cells/base_2027q3_restricted_remaining:base/kind | None | derived |
| /operating_model/cells/base_2027q3_restricted_remaining:base/label | None | Remaining restricted cash in funding bridge |
| /operating_model/cells/base_2027q3_restricted_remaining:base/period | None | 2027Q3 |
| /operating_model/cells/base_2027q3_restricted_remaining:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q3_restricted_remaining:base/value | None | 1882.958 |
| /operating_model/cells/base_2027q4_asset_sale_cash:base/basis | None | No other asset sales assumed; no sale revenue is counted as recurring operating cash. |
| /operating_model/cells/base_2027q4_asset_sale_cash:base/case | None | base |
| /operating_model/cells/base_2027q4_asset_sale_cash:base/id | None | base_2027q4_asset_sale_cash |
| /operating_model/cells/base_2027q4_asset_sale_cash:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_asset_sale_cash:base/label | None | Asset-sale cash assumed |
| /operating_model/cells/base_2027q4_asset_sale_cash:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_asset_sale_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_asset_sale_cash:base/value | None | 0.0 |
| /operating_model/cells/base_2027q4_cash_with_funding:base/basis | None | Combines the operating model with explicit financing/restricted-fund assumptions once. |
| /operating_model/cells/base_2027q4_cash_with_funding:base/case | None | base |
| /operating_model/cells/base_2027q4_cash_with_funding:base/formula/op | None | sum |
| /operating_model/cells/base_2027q4_cash_with_funding:base/formula/refs/0 | None | base_2027q4_cash_after_capex |
| /operating_model/cells/base_2027q4_cash_with_funding:base/formula/refs/1 | None | base_2027q4_funding_sources |
| /operating_model/cells/base_2027q4_cash_with_funding:base/id | None | base_2027q4_cash_with_funding |
| /operating_model/cells/base_2027q4_cash_with_funding:base/kind | None | derived |
| /operating_model/cells/base_2027q4_cash_with_funding:base/label | None | Operating cash after capex plus funding |
| /operating_model/cells/base_2027q4_cash_with_funding:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_cash_with_funding:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_cash_with_funding:base/value | None | 96.22864999999999 |
| /operating_model/cells/base_2027q4_eligible_restricted_fraction:base/basis | None | Desk fraction of modeled construction cash paid from existing eligible project funds. Must be between zero and one, cannot exceed available restricted funds, and never releases noncurrent reserves. |
| /operating_model/cells/base_2027q4_eligible_restricted_fraction:base/case | None | base |
| /operating_model/cells/base_2027q4_eligible_restricted_fraction:base/id | None | base_2027q4_eligible_restricted_fraction |
| /operating_model/cells/base_2027q4_eligible_restricted_fraction:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_eligible_restricted_fraction:base/label | None | Construction spending eligible for restricted funding |
| /operating_model/cells/base_2027q4_eligible_restricted_fraction:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_eligible_restricted_fraction:base/unit | None | ratio |
| /operating_model/cells/base_2027q4_eligible_restricted_fraction:base/value | None | 0.9 |
| /operating_model/cells/base_2027q4_external_net_funding:base/basis | None | No unspecified new funding assumed. A negative funding balance identifies financing or spending changes still needed; it is not a forecast negative bank balance. |
| /operating_model/cells/base_2027q4_external_net_funding:base/case | None | base |
| /operating_model/cells/base_2027q4_external_net_funding:base/id | None | base_2027q4_external_net_funding |
| /operating_model/cells/base_2027q4_external_net_funding:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_external_net_funding:base/label | None | Additional net financing assumed |
| /operating_model/cells/base_2027q4_external_net_funding:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_external_net_funding:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_external_net_funding:base/value | None | 0.0 |
| /operating_model/cells/base_2027q4_funding_balance:base/basis | None | June unrestricted-cash baseline rolled through operating, capex and explicit funding assumptions. Negative means an unfilled funding requirement. This is not current cash, bank availability, owner distributions or a fully funded claim. |
| /operating_model/cells/base_2027q4_funding_balance:base/case | None | base |
| /operating_model/cells/base_2027q4_funding_balance:base/formula/op | None | sum |
| /operating_model/cells/base_2027q4_funding_balance:base/formula/refs/0 | None | base_2027q3_funding_balance |
| /operating_model/cells/base_2027q4_funding_balance:base/formula/refs/1 | None | base_2027q4_funding_change |
| /operating_model/cells/base_2027q4_funding_balance:base/id | None | base_2027q4_funding_balance |
| /operating_model/cells/base_2027q4_funding_balance:base/kind | None | derived |
| /operating_model/cells/base_2027q4_funding_balance:base/label | None | Funding balance under stated assumptions |
| /operating_model/cells/base_2027q4_funding_balance:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_funding_balance:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_funding_balance:base/value | None | 555.006375 |
| /operating_model/cells/base_2027q4_funding_change:base/basis | None | Funding inflows less explicit cash uses; not a full GAAP cash-flow statement. |
| /operating_model/cells/base_2027q4_funding_change:base/case | None | base |
| /operating_model/cells/base_2027q4_funding_change:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q4_funding_change:base/formula/refs/0 | None | base_2027q4_cash_with_funding |
| /operating_model/cells/base_2027q4_funding_change:base/formula/refs/1 | None | base_2027q4_funding_uses |
| /operating_model/cells/base_2027q4_funding_change:base/id | None | base_2027q4_funding_change |
| /operating_model/cells/base_2027q4_funding_change:base/kind | None | derived |
| /operating_model/cells/base_2027q4_funding_change:base/label | None | Net modeled funding change |
| /operating_model/cells/base_2027q4_funding_change:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_funding_change:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_funding_change:base/value | None | 41.95239999999999 |
| /operating_model/cells/base_2027q4_funding_sources:base/basis | None | Transfers from restricted cash, dated financing and conditional disposals stay distinct from revenue. |
| /operating_model/cells/base_2027q4_funding_sources:base/case | None | base |
| /operating_model/cells/base_2027q4_funding_sources:base/formula/op | None | sum |
| /operating_model/cells/base_2027q4_funding_sources:base/formula/refs/0 | None | base_2027q4_restricted_release |
| /operating_model/cells/base_2027q4_funding_sources:base/formula/refs/1 | None | base_2027q4_external_net_funding |
| /operating_model/cells/base_2027q4_funding_sources:base/formula/refs/2 | None | base_2027q4_asset_sale_cash |
| /operating_model/cells/base_2027q4_funding_sources:base/id | None | base_2027q4_funding_sources |
| /operating_model/cells/base_2027q4_funding_sources:base/kind | None | derived |
| /operating_model/cells/base_2027q4_funding_sources:base/label | None | Funding inflows outside operating model |
| /operating_model/cells/base_2027q4_funding_sources:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_funding_sources:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_funding_sources:base/value | None | 135.0 |
| /operating_model/cells/base_2027q4_funding_uses:base/basis | None | Principal and extra investing/ownership uses; interest, working capital and capex are already in the existing operating bridge. |
| /operating_model/cells/base_2027q4_funding_uses:base/case | None | base |
| /operating_model/cells/base_2027q4_funding_uses:base/formula/op | None | sum |
| /operating_model/cells/base_2027q4_funding_uses:base/formula/refs/0 | None | base_2027q4_principal_cash |
| /operating_model/cells/base_2027q4_funding_uses:base/formula/refs/1 | None | base_2027q4_other_funding_uses |
| /operating_model/cells/base_2027q4_funding_uses:base/id | None | base_2027q4_funding_uses |
| /operating_model/cells/base_2027q4_funding_uses:base/kind | None | derived |
| /operating_model/cells/base_2027q4_funding_uses:base/label | None | Cash uses outside operating model |
| /operating_model/cells/base_2027q4_funding_uses:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_funding_uses:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_funding_uses:base/value | None | 54.27625 |
| /operating_model/cells/base_2027q4_other_funding_uses:base/basis | None | Explicit desk allowance outside operating cash/capex: includes $10M assumed sale costs only for WULF upside closing. Zero otherwise leaves undisclosed acquisitions, contingent settlements and minority distributions unmodeled, not known absent. Construction reimbursements already included in capex are not deducted again. |
| /operating_model/cells/base_2027q4_other_funding_uses:base/case | None | base |
| /operating_model/cells/base_2027q4_other_funding_uses:base/id | None | base_2027q4_other_funding_uses |
| /operating_model/cells/base_2027q4_other_funding_uses:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_other_funding_uses:base/label | None | Additional investing, fees and outside-owner cash uses |
| /operating_model/cells/base_2027q4_other_funding_uses:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_other_funding_uses:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_other_funding_uses:base/value | None | 0.0 |
| /operating_model/cells/base_2027q4_principal_cash:base/basis | None | Annual disclosed maturity times explicit quarterly allocation. No second deduction of operating coupon costs. |
| /operating_model/cells/base_2027q4_principal_cash:base/case | None | base |
| /operating_model/cells/base_2027q4_principal_cash:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q4_principal_cash:base/formula/refs/0 | None | scheduled_2027_principal |
| /operating_model/cells/base_2027q4_principal_cash:base/formula/refs/1 | None | base_2027q4_principal_weight |
| /operating_model/cells/base_2027q4_principal_cash:base/id | None | base_2027q4_principal_cash |
| /operating_model/cells/base_2027q4_principal_cash:base/kind | None | derived |
| /operating_model/cells/base_2027q4_principal_cash:base/label | None | Scheduled principal cash use |
| /operating_model/cells/base_2027q4_principal_cash:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_principal_cash:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_principal_cash:base/value | None | 54.27625 |
| /operating_model/cells/base_2027q4_principal_weight:base/basis | None | Desk timing of disclosed maturity total; CIFR 2027 is spread evenly as a planning proxy across different project instruments. Annual principal reconciles, but this is not an exact payment calendar. |
| /operating_model/cells/base_2027q4_principal_weight:base/case | None | base |
| /operating_model/cells/base_2027q4_principal_weight:base/id | None | base_2027q4_principal_weight |
| /operating_model/cells/base_2027q4_principal_weight:base/kind | None | assumption |
| /operating_model/cells/base_2027q4_principal_weight:base/label | None | Share of dated annual principal schedule |
| /operating_model/cells/base_2027q4_principal_weight:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_principal_weight:base/unit | None | ratio |
| /operating_model/cells/base_2027q4_principal_weight:base/value | None | 0.25 |
| /operating_model/cells/base_2027q4_restricted_release:base/basis | None | Modeled construction capex times eligible restricted-funding fraction; existing project cash funds an eligible use, not corporate income. Published cases preserve the noncurrent reserve and never release more than construction spending. |
| /operating_model/cells/base_2027q4_restricted_release:base/case | None | base |
| /operating_model/cells/base_2027q4_restricted_release:base/formula/op | None | multiply |
| /operating_model/cells/base_2027q4_restricted_release:base/formula/refs/0 | None | base_2027q4_capex |
| /operating_model/cells/base_2027q4_restricted_release:base/formula/refs/1 | None | base_2027q4_eligible_restricted_fraction |
| /operating_model/cells/base_2027q4_restricted_release:base/id | None | base_2027q4_restricted_release |
| /operating_model/cells/base_2027q4_restricted_release:base/kind | None | derived |
| /operating_model/cells/base_2027q4_restricted_release:base/label | None | Restricted funds used for qualifying spending |
| /operating_model/cells/base_2027q4_restricted_release:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_restricted_release:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_restricted_release:base/value | None | 135.0 |
| /operating_model/cells/base_2027q4_restricted_remaining:base/basis | None | Opening restricted balance less modeled release. Not automatically available to satisfy other project or parent claims. |
| /operating_model/cells/base_2027q4_restricted_remaining:base/case | None | base |
| /operating_model/cells/base_2027q4_restricted_remaining:base/formula/op | None | subtract |
| /operating_model/cells/base_2027q4_restricted_remaining:base/formula/refs/0 | None | base_2027q3_restricted_remaining |
| /operating_model/cells/base_2027q4_restricted_remaining:base/formula/refs/1 | None | base_2027q4_restricted_release |
| /operating_model/cells/base_2027q4_restricted_remaining:base/id | None | base_2027q4_restricted_remaining |
| /operating_model/cells/base_2027q4_restricted_remaining:base/kind | None | derived |
| /operating_model/cells/base_2027q4_restricted_remaining:base/label | None | Remaining restricted cash in funding bridge |
| /operating_model/cells/base_2027q4_restricted_remaining:base/period | None | 2027Q4 |
| /operating_model/cells/base_2027q4_restricted_remaining:base/unit | None | USD_millions |
| /operating_model/cells/base_2027q4_restricted_remaining:base/value | None | 1747.958 |
| /operating_model/cells/base_fy2026_funding_balance:base/basis | None | Year-end stock equals Q4 ending balance; quarterly balances are never summed. |
| /operating_model/cells/base_fy2026_funding_balance:base/case | None | base |
| /operating_model/cells/base_fy2026_funding_balance:base/formula/op | None | sum |
| /operating_model/cells/base_fy2026_funding_balance:base/formula/refs/0 | None | base_2026q4_funding_balance |
| /operating_model/cells/base_fy2026_funding_balance:base/formula/refs/1 | None | funding_zero |
| /operating_model/cells/base_fy2026_funding_balance:base/id | None | base_fy2026_funding_balance |
| /operating_model/cells/base_fy2026_funding_balance:base/kind | None | derived |
| /operating_model/cells/base_fy2026_funding_balance:base/label | None | Year-end Funding balance under stated assumptions ($M) |
| /operating_model/cells/base_fy2026_funding_balance:base/period | None | FY2026 |
| /operating_model/cells/base_fy2026_funding_balance:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2026_funding_balance:base/value | None | 589.974 |
| /operating_model/cells/base_fy2026_restricted_remaining:base/basis | None | Year-end stock equals Q4 ending balance; quarterly balances are never summed. |
| /operating_model/cells/base_fy2026_restricted_remaining:base/case | None | base |
| /operating_model/cells/base_fy2026_restricted_remaining:base/formula/op | None | sum |
| /operating_model/cells/base_fy2026_restricted_remaining:base/formula/refs/0 | None | base_2026q4_restricted_remaining |
| /operating_model/cells/base_fy2026_restricted_remaining:base/formula/refs/1 | None | funding_zero |
| /operating_model/cells/base_fy2026_restricted_remaining:base/id | None | base_fy2026_restricted_remaining |
| /operating_model/cells/base_fy2026_restricted_remaining:base/kind | None | derived |
| /operating_model/cells/base_fy2026_restricted_remaining:base/label | None | Year-end Remaining restricted cash in funding bridge ($M) |
| /operating_model/cells/base_fy2026_restricted_remaining:base/period | None | FY2026 |
| /operating_model/cells/base_fy2026_restricted_remaining:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2026_restricted_remaining:base/value | None | 2647.958 |
| /operating_model/cells/base_fy2027_funding_balance:base/basis | None | Year-end stock equals Q4 ending balance; quarterly balances are never summed. |
| /operating_model/cells/base_fy2027_funding_balance:base/case | None | base |
| /operating_model/cells/base_fy2027_funding_balance:base/formula/op | None | sum |
| /operating_model/cells/base_fy2027_funding_balance:base/formula/refs/0 | None | base_2027q4_funding_balance |
| /operating_model/cells/base_fy2027_funding_balance:base/formula/refs/1 | None | funding_zero |
| /operating_model/cells/base_fy2027_funding_balance:base/id | None | base_fy2027_funding_balance |
| /operating_model/cells/base_fy2027_funding_balance:base/kind | None | derived |
| /operating_model/cells/base_fy2027_funding_balance:base/label | None | Year-end Funding balance under stated assumptions ($M) |
| /operating_model/cells/base_fy2027_funding_balance:base/period | None | FY2027 |
| /operating_model/cells/base_fy2027_funding_balance:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2027_funding_balance:base/value | None | 555.006375 |
| /operating_model/cells/base_fy2027_restricted_remaining:base/basis | None | Year-end stock equals Q4 ending balance; quarterly balances are never summed. |
| /operating_model/cells/base_fy2027_restricted_remaining:base/case | None | base |
| /operating_model/cells/base_fy2027_restricted_remaining:base/formula/op | None | sum |
| /operating_model/cells/base_fy2027_restricted_remaining:base/formula/refs/0 | None | base_2027q4_restricted_remaining |
| /operating_model/cells/base_fy2027_restricted_remaining:base/formula/refs/1 | None | funding_zero |
| /operating_model/cells/base_fy2027_restricted_remaining:base/id | None | base_fy2027_restricted_remaining |
| /operating_model/cells/base_fy2027_restricted_remaining:base/kind | None | derived |
| /operating_model/cells/base_fy2027_restricted_remaining:base/label | None | Year-end Remaining restricted cash in funding bridge ($M) |
| /operating_model/cells/base_fy2027_restricted_remaining:base/period | None | FY2027 |
| /operating_model/cells/base_fy2027_restricted_remaining:base/unit | None | USD_millions |
| /operating_model/cells/base_fy2027_restricted_remaining:base/value | None | 1747.958 |
| /operating_model/cells/convert_2029_coupon:shared/basis | Principal times stated coupon. | None |
| /operating_model/cells/convert_2029_coupon:shared/case | shared | None |
| /operating_model/cells/convert_2029_coupon:shared/formula/op | multiply | None |
| /operating_model/cells/convert_2029_coupon:shared/formula/refs/0 | convert_2029_principal | None |
| /operating_model/cells/convert_2029_coupon:shared/formula/refs/1 | convert_2029_coupon_rate | None |
| /operating_model/cells/convert_2029_coupon:shared/id | convert_2029_coupon | None |
| /operating_model/cells/convert_2029_coupon:shared/kind | derived | None |
| /operating_model/cells/convert_2029_coupon:shared/label | convert 2029 annual coupon | None |
| /operating_model/cells/convert_2029_coupon:shared/period | Annual | None |
| /operating_model/cells/convert_2029_coupon:shared/unit | USD_millions | None |
| /operating_model/cells/convert_2029_coupon:shared/value | 3.0187500000000003 | None |
| /operating_model/cells/convert_2029_coupon_rate:shared/basis | Contractual coupon; excludes financing fees and principal. | None |
| /operating_model/cells/convert_2029_coupon_rate:shared/case | shared | None |
| /operating_model/cells/convert_2029_coupon_rate:shared/id | convert_2029_coupon_rate | None |
| /operating_model/cells/convert_2029_coupon_rate:shared/kind | reported | None |
| /operating_model/cells/convert_2029_coupon_rate:shared/label | convert 2029 coupon rate | None |
| /operating_model/cells/convert_2029_coupon_rate:shared/period | Annual | None |
| /operating_model/cells/convert_2029_coupon_rate:shared/source_date | 2026-08-04 | None |
| /operating_model/cells/convert_2029_coupon_rate:shared/source_url | https://www.sec.gov/Archives/edgar/data/1819989/000181998926000041/cifr-20260630.htm | None |
| /operating_model/cells/convert_2029_coupon_rate:shared/unit | ratio | None |
| /operating_model/cells/convert_2029_coupon_rate:shared/value | 0.0175 | None |
| /operating_model/cells/convert_2029_principal:shared/basis | Debt table principal, not balance-sheet carrying value. | None |
| /operating_model/cells/convert_2029_principal:shared/case | shared | None |
| /operating_model/cells/convert_2029_principal:shared/id | convert_2029_principal | None |
| /operating_model/cells/convert_2029_principal:shared/kind | reported | None |
| /operating_model/cells/convert_2029_principal:shared/label | convert 2029 debt principal | None |
| /operating_model/cells/convert_2029_principal:shared/period | 2026Q2 | None |
| /operating_model/cells/convert_2029_principal:shared/source_date | 2026-08-04 | None |
| /operating_model/cells/convert_2029_principal:shared/source_url | https://www.sec.gov/Archives/edgar/data/1819989/000181998926000041/cifr-20260630.htm | None |
| /operating_model/cells/convert_2029_principal:shared/unit | USD_millions | None |
| /operating_model/cells/convert_2029_principal:shared/value | 172.5 | None |
| /operating_model/cells/convert_2030_coupon:shared/basis | None | Principal times stated coupon. |
| /operating_model/cells/convert_2030_coupon:shared/case | None | shared |
| /operating_model/cells/convert_2030_coupon:shared/formula/op | None | multiply |
| /operating_model/cells/convert_2030_coupon:shared/formula/refs/0 | None | convert_2030_principal |
| /operating_model/cells/convert_2030_coupon:shared/formula/refs/1 | None | convert_2030_coupon_rate |
| /operating_model/cells/convert_2030_coupon:shared/id | None | convert_2030_coupon |
| /operating_model/cells/convert_2030_coupon:shared/kind | None | derived |
| /operating_model/cells/convert_2030_coupon:shared/label | None | convert 2030 annual coupon |
| /operating_model/cells/convert_2030_coupon:shared/period | None | Annual |
| /operating_model/cells/convert_2030_coupon:shared/unit | None | USD_millions |
| /operating_model/cells/convert_2030_coupon:shared/value | None | 3.0187500000000003 |
| /operating_model/cells/convert_2030_coupon_rate:shared/basis | None | Contractual coupon; excludes financing fees and principal. |
| /operating_model/cells/convert_2030_coupon_rate:shared/case | None | shared |
| /operating_model/cells/convert_2030_coupon_rate:shared/id | None | convert_2030_coupon_rate |
| /operating_model/cells/convert_2030_coupon_rate:shared/kind | None | reported |
| /operating_model/cells/convert_2030_coupon_rate:shared/label | None | convert 2030 coupon rate |
| /operating_model/cells/convert_2030_coupon_rate:shared/period | None | Annual |
| /operating_model/cells/convert_2030_coupon_rate:shared/source_date | None | 2026-08-04 |
| /operating_model/cells/convert_2030_coupon_rate:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1819989/000181998926000041/cifr-20260630.htm |
| /operating_model/cells/convert_2030_coupon_rate:shared/unit | None | ratio |
| /operating_model/cells/convert_2030_coupon_rate:shared/value | None | 0.0175 |
| /operating_model/cells/convert_2030_principal:shared/basis | None | Debt table principal, not balance-sheet carrying value. |
| /operating_model/cells/convert_2030_principal:shared/case | None | shared |
| /operating_model/cells/convert_2030_principal:shared/id | None | convert_2030_principal |
| /operating_model/cells/convert_2030_principal:shared/kind | None | reported |
| /operating_model/cells/convert_2030_principal:shared/label | None | convert 2030 debt principal |
| /operating_model/cells/convert_2030_principal:shared/period | None | 2026Q2 |
| /operating_model/cells/convert_2030_principal:shared/source_date | None | 2026-08-04 |
| /operating_model/cells/convert_2030_principal:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1819989/000181998926000041/cifr-20260630.htm |
| /operating_model/cells/convert_2030_principal:shared/unit | None | USD_millions |
| /operating_model/cells/convert_2030_principal:shared/value | None | 172.5 |
| /operating_model/cells/debt_principal:shared/formula/refs/3 | convert_2029_principal | convert_2030_principal |
| /operating_model/cells/downside_2026q3_asset_sale_cash:downside/basis | None | No other asset sales assumed; no sale revenue is counted as recurring operating cash. |
| /operating_model/cells/downside_2026q3_asset_sale_cash:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_asset_sale_cash:downside/id | None | downside_2026q3_asset_sale_cash |
| /operating_model/cells/downside_2026q3_asset_sale_cash:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_asset_sale_cash:downside/label | None | Asset-sale cash assumed |
| /operating_model/cells/downside_2026q3_asset_sale_cash:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_asset_sale_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_asset_sale_cash:downside/value | None | 0.0 |
| /operating_model/cells/downside_2026q3_cash_with_funding:downside/basis | None | Combines the operating model with explicit financing/restricted-fund assumptions once. |
| /operating_model/cells/downside_2026q3_cash_with_funding:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_cash_with_funding:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q3_cash_with_funding:downside/formula/refs/0 | None | downside_2026q3_cash_after_capex |
| /operating_model/cells/downside_2026q3_cash_with_funding:downside/formula/refs/1 | None | downside_2026q3_funding_sources |
| /operating_model/cells/downside_2026q3_cash_with_funding:downside/id | None | downside_2026q3_cash_with_funding |
| /operating_model/cells/downside_2026q3_cash_with_funding:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_cash_with_funding:downside/label | None | Operating cash after capex plus funding |
| /operating_model/cells/downside_2026q3_cash_with_funding:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_cash_with_funding:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_cash_with_funding:downside/value | None | -305.22929000000005 |
| /operating_model/cells/downside_2026q3_eligible_restricted_fraction:downside/basis | None | Desk fraction of modeled construction cash paid from existing eligible project funds. Must be between zero and one, cannot exceed available restricted funds, and never releases noncurrent reserves. |
| /operating_model/cells/downside_2026q3_eligible_restricted_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_eligible_restricted_fraction:downside/id | None | downside_2026q3_eligible_restricted_fraction |
| /operating_model/cells/downside_2026q3_eligible_restricted_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_eligible_restricted_fraction:downside/label | None | Construction spending eligible for restricted funding |
| /operating_model/cells/downside_2026q3_eligible_restricted_fraction:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_eligible_restricted_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q3_eligible_restricted_fraction:downside/value | None | 0.7 |
| /operating_model/cells/downside_2026q3_external_net_funding:downside/basis | None | No unspecified new funding assumed. A negative funding balance identifies financing or spending changes still needed; it is not a forecast negative bank balance. |
| /operating_model/cells/downside_2026q3_external_net_funding:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_external_net_funding:downside/id | None | downside_2026q3_external_net_funding |
| /operating_model/cells/downside_2026q3_external_net_funding:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_external_net_funding:downside/label | None | Additional net financing assumed |
| /operating_model/cells/downside_2026q3_external_net_funding:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_external_net_funding:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_external_net_funding:downside/value | None | 0.0 |
| /operating_model/cells/downside_2026q3_funding_balance:downside/basis | None | June unrestricted-cash baseline rolled through operating, capex and explicit funding assumptions. Negative means an unfilled funding requirement. This is not current cash, bank availability, owner distributions or a fully funded claim. |
| /operating_model/cells/downside_2026q3_funding_balance:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_funding_balance:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q3_funding_balance:downside/formula/refs/0 | None | h1_cash |
| /operating_model/cells/downside_2026q3_funding_balance:downside/formula/refs/1 | None | downside_2026q3_funding_change |
| /operating_model/cells/downside_2026q3_funding_balance:downside/id | None | downside_2026q3_funding_balance |
| /operating_model/cells/downside_2026q3_funding_balance:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_funding_balance:downside/label | None | Funding balance under stated assumptions |
| /operating_model/cells/downside_2026q3_funding_balance:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_funding_balance:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_funding_balance:downside/value | None | 526.59971 |
| /operating_model/cells/downside_2026q3_funding_change:downside/basis | None | Funding inflows less explicit cash uses; not a full GAAP cash-flow statement. |
| /operating_model/cells/downside_2026q3_funding_change:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_funding_change:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2026q3_funding_change:downside/formula/refs/0 | None | downside_2026q3_cash_with_funding |
| /operating_model/cells/downside_2026q3_funding_change:downside/formula/refs/1 | None | downside_2026q3_funding_uses |
| /operating_model/cells/downside_2026q3_funding_change:downside/id | None | downside_2026q3_funding_change |
| /operating_model/cells/downside_2026q3_funding_change:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_funding_change:downside/label | None | Net modeled funding change |
| /operating_model/cells/downside_2026q3_funding_change:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_funding_change:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_funding_change:downside/value | None | -305.22929000000005 |
| /operating_model/cells/downside_2026q3_funding_sources:downside/basis | None | Transfers from restricted cash, dated financing and conditional disposals stay distinct from revenue. |
| /operating_model/cells/downside_2026q3_funding_sources:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_funding_sources:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q3_funding_sources:downside/formula/refs/0 | None | downside_2026q3_restricted_release |
| /operating_model/cells/downside_2026q3_funding_sources:downside/formula/refs/1 | None | downside_2026q3_external_net_funding |
| /operating_model/cells/downside_2026q3_funding_sources:downside/formula/refs/2 | None | downside_2026q3_asset_sale_cash |
| /operating_model/cells/downside_2026q3_funding_sources:downside/id | None | downside_2026q3_funding_sources |
| /operating_model/cells/downside_2026q3_funding_sources:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_funding_sources:downside/label | None | Funding inflows outside operating model |
| /operating_model/cells/downside_2026q3_funding_sources:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_funding_sources:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_funding_sources:downside/value | None | 454.99999999999994 |
| /operating_model/cells/downside_2026q3_funding_uses:downside/basis | None | Principal and extra investing/ownership uses; interest, working capital and capex are already in the existing operating bridge. |
| /operating_model/cells/downside_2026q3_funding_uses:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_funding_uses:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q3_funding_uses:downside/formula/refs/0 | None | downside_2026q3_principal_cash |
| /operating_model/cells/downside_2026q3_funding_uses:downside/formula/refs/1 | None | downside_2026q3_other_funding_uses |
| /operating_model/cells/downside_2026q3_funding_uses:downside/id | None | downside_2026q3_funding_uses |
| /operating_model/cells/downside_2026q3_funding_uses:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_funding_uses:downside/label | None | Cash uses outside operating model |
| /operating_model/cells/downside_2026q3_funding_uses:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_funding_uses:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_funding_uses:downside/value | None | 0.0 |
| /operating_model/cells/downside_2026q3_other_funding_uses:downside/basis | None | Explicit desk allowance outside operating cash/capex: includes $10M assumed sale costs only for WULF upside closing. Zero otherwise leaves undisclosed acquisitions, contingent settlements and minority distributions unmodeled, not known absent. Construction reimbursements already included in capex are not deducted again. |
| /operating_model/cells/downside_2026q3_other_funding_uses:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_other_funding_uses:downside/id | None | downside_2026q3_other_funding_uses |
| /operating_model/cells/downside_2026q3_other_funding_uses:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_other_funding_uses:downside/label | None | Additional investing, fees and outside-owner cash uses |
| /operating_model/cells/downside_2026q3_other_funding_uses:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_other_funding_uses:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_other_funding_uses:downside/value | None | 0.0 |
| /operating_model/cells/downside_2026q3_principal_cash:downside/basis | None | Annual disclosed maturity times explicit quarterly allocation. No second deduction of operating coupon costs. |
| /operating_model/cells/downside_2026q3_principal_cash:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_principal_cash:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q3_principal_cash:downside/formula/refs/0 | None | scheduled_h2_principal |
| /operating_model/cells/downside_2026q3_principal_cash:downside/formula/refs/1 | None | downside_2026q3_principal_weight |
| /operating_model/cells/downside_2026q3_principal_cash:downside/id | None | downside_2026q3_principal_cash |
| /operating_model/cells/downside_2026q3_principal_cash:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_principal_cash:downside/label | None | Scheduled principal cash use |
| /operating_model/cells/downside_2026q3_principal_cash:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_principal_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_principal_cash:downside/value | None | 0.0 |
| /operating_model/cells/downside_2026q3_principal_weight:downside/basis | None | Desk timing of disclosed maturity total; CIFR 2027 is spread evenly as a planning proxy across different project instruments. Annual principal reconciles, but this is not an exact payment calendar. |
| /operating_model/cells/downside_2026q3_principal_weight:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_principal_weight:downside/id | None | downside_2026q3_principal_weight |
| /operating_model/cells/downside_2026q3_principal_weight:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q3_principal_weight:downside/label | None | Share of dated annual principal schedule |
| /operating_model/cells/downside_2026q3_principal_weight:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_principal_weight:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q3_principal_weight:downside/value | None | 0.0 |
| /operating_model/cells/downside_2026q3_restricted_release:downside/basis | None | Modeled construction capex times eligible restricted-funding fraction; existing project cash funds an eligible use, not corporate income. Published cases preserve the noncurrent reserve and never release more than construction spending. |
| /operating_model/cells/downside_2026q3_restricted_release:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_restricted_release:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q3_restricted_release:downside/formula/refs/0 | None | downside_2026q3_capex |
| /operating_model/cells/downside_2026q3_restricted_release:downside/formula/refs/1 | None | downside_2026q3_eligible_restricted_fraction |
| /operating_model/cells/downside_2026q3_restricted_release:downside/id | None | downside_2026q3_restricted_release |
| /operating_model/cells/downside_2026q3_restricted_release:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_restricted_release:downside/label | None | Restricted funds used for qualifying spending |
| /operating_model/cells/downside_2026q3_restricted_release:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_restricted_release:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_restricted_release:downside/value | None | 454.99999999999994 |
| /operating_model/cells/downside_2026q3_restricted_remaining:downside/basis | None | Opening restricted balance less modeled release. Not automatically available to satisfy other project or parent claims. |
| /operating_model/cells/downside_2026q3_restricted_remaining:downside/case | None | downside |
| /operating_model/cells/downside_2026q3_restricted_remaining:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2026q3_restricted_remaining:downside/formula/refs/0 | None | restricted_cash |
| /operating_model/cells/downside_2026q3_restricted_remaining:downside/formula/refs/1 | None | downside_2026q3_restricted_release |
| /operating_model/cells/downside_2026q3_restricted_remaining:downside/id | None | downside_2026q3_restricted_remaining |
| /operating_model/cells/downside_2026q3_restricted_remaining:downside/kind | None | derived |
| /operating_model/cells/downside_2026q3_restricted_remaining:downside/label | None | Remaining restricted cash in funding bridge |
| /operating_model/cells/downside_2026q3_restricted_remaining:downside/period | None | 2026Q3 |
| /operating_model/cells/downside_2026q3_restricted_remaining:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q3_restricted_remaining:downside/value | None | 3272.958 |
| /operating_model/cells/downside_2026q4_asset_sale_cash:downside/basis | None | No other asset sales assumed; no sale revenue is counted as recurring operating cash. |
| /operating_model/cells/downside_2026q4_asset_sale_cash:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_asset_sale_cash:downside/id | None | downside_2026q4_asset_sale_cash |
| /operating_model/cells/downside_2026q4_asset_sale_cash:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_asset_sale_cash:downside/label | None | Asset-sale cash assumed |
| /operating_model/cells/downside_2026q4_asset_sale_cash:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_asset_sale_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_asset_sale_cash:downside/value | None | 0.0 |
| /operating_model/cells/downside_2026q4_cash_with_funding:downside/basis | None | Combines the operating model with explicit financing/restricted-fund assumptions once. |
| /operating_model/cells/downside_2026q4_cash_with_funding:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_cash_with_funding:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q4_cash_with_funding:downside/formula/refs/0 | None | downside_2026q4_cash_after_capex |
| /operating_model/cells/downside_2026q4_cash_with_funding:downside/formula/refs/1 | None | downside_2026q4_funding_sources |
| /operating_model/cells/downside_2026q4_cash_with_funding:downside/id | None | downside_2026q4_cash_with_funding |
| /operating_model/cells/downside_2026q4_cash_with_funding:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_cash_with_funding:downside/label | None | Operating cash after capex plus funding |
| /operating_model/cells/downside_2026q4_cash_with_funding:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_cash_with_funding:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_cash_with_funding:downside/value | None | -237.09266000000008 |
| /operating_model/cells/downside_2026q4_eligible_restricted_fraction:downside/basis | None | Desk fraction of modeled construction cash paid from existing eligible project funds. Must be between zero and one, cannot exceed available restricted funds, and never releases noncurrent reserves. |
| /operating_model/cells/downside_2026q4_eligible_restricted_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_eligible_restricted_fraction:downside/id | None | downside_2026q4_eligible_restricted_fraction |
| /operating_model/cells/downside_2026q4_eligible_restricted_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_eligible_restricted_fraction:downside/label | None | Construction spending eligible for restricted funding |
| /operating_model/cells/downside_2026q4_eligible_restricted_fraction:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_eligible_restricted_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q4_eligible_restricted_fraction:downside/value | None | 0.7 |
| /operating_model/cells/downside_2026q4_external_net_funding:downside/basis | None | No unspecified new funding assumed. A negative funding balance identifies financing or spending changes still needed; it is not a forecast negative bank balance. |
| /operating_model/cells/downside_2026q4_external_net_funding:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_external_net_funding:downside/id | None | downside_2026q4_external_net_funding |
| /operating_model/cells/downside_2026q4_external_net_funding:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_external_net_funding:downside/label | None | Additional net financing assumed |
| /operating_model/cells/downside_2026q4_external_net_funding:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_external_net_funding:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_external_net_funding:downside/value | None | 0.0 |
| /operating_model/cells/downside_2026q4_funding_balance:downside/basis | None | June unrestricted-cash baseline rolled through operating, capex and explicit funding assumptions. Negative means an unfilled funding requirement. This is not current cash, bank availability, owner distributions or a fully funded claim. |
| /operating_model/cells/downside_2026q4_funding_balance:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_funding_balance:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q4_funding_balance:downside/formula/refs/0 | None | downside_2026q3_funding_balance |
| /operating_model/cells/downside_2026q4_funding_balance:downside/formula/refs/1 | None | downside_2026q4_funding_change |
| /operating_model/cells/downside_2026q4_funding_balance:downside/id | None | downside_2026q4_funding_balance |
| /operating_model/cells/downside_2026q4_funding_balance:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_funding_balance:downside/label | None | Funding balance under stated assumptions |
| /operating_model/cells/downside_2026q4_funding_balance:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_funding_balance:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_funding_balance:downside/value | None | 271.0310499999999 |
| /operating_model/cells/downside_2026q4_funding_change:downside/basis | None | Funding inflows less explicit cash uses; not a full GAAP cash-flow statement. |
| /operating_model/cells/downside_2026q4_funding_change:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_funding_change:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2026q4_funding_change:downside/formula/refs/0 | None | downside_2026q4_cash_with_funding |
| /operating_model/cells/downside_2026q4_funding_change:downside/formula/refs/1 | None | downside_2026q4_funding_uses |
| /operating_model/cells/downside_2026q4_funding_change:downside/id | None | downside_2026q4_funding_change |
| /operating_model/cells/downside_2026q4_funding_change:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_funding_change:downside/label | None | Net modeled funding change |
| /operating_model/cells/downside_2026q4_funding_change:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_funding_change:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_funding_change:downside/value | None | -255.56866000000008 |
| /operating_model/cells/downside_2026q4_funding_sources:downside/basis | None | Transfers from restricted cash, dated financing and conditional disposals stay distinct from revenue. |
| /operating_model/cells/downside_2026q4_funding_sources:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_funding_sources:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q4_funding_sources:downside/formula/refs/0 | None | downside_2026q4_restricted_release |
| /operating_model/cells/downside_2026q4_funding_sources:downside/formula/refs/1 | None | downside_2026q4_external_net_funding |
| /operating_model/cells/downside_2026q4_funding_sources:downside/formula/refs/2 | None | downside_2026q4_asset_sale_cash |
| /operating_model/cells/downside_2026q4_funding_sources:downside/id | None | downside_2026q4_funding_sources |
| /operating_model/cells/downside_2026q4_funding_sources:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_funding_sources:downside/label | None | Funding inflows outside operating model |
| /operating_model/cells/downside_2026q4_funding_sources:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_funding_sources:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_funding_sources:downside/value | None | 454.99999999999994 |
| /operating_model/cells/downside_2026q4_funding_uses:downside/basis | None | Principal and extra investing/ownership uses; interest, working capital and capex are already in the existing operating bridge. |
| /operating_model/cells/downside_2026q4_funding_uses:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_funding_uses:downside/formula/op | None | sum |
| /operating_model/cells/downside_2026q4_funding_uses:downside/formula/refs/0 | None | downside_2026q4_principal_cash |
| /operating_model/cells/downside_2026q4_funding_uses:downside/formula/refs/1 | None | downside_2026q4_other_funding_uses |
| /operating_model/cells/downside_2026q4_funding_uses:downside/id | None | downside_2026q4_funding_uses |
| /operating_model/cells/downside_2026q4_funding_uses:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_funding_uses:downside/label | None | Cash uses outside operating model |
| /operating_model/cells/downside_2026q4_funding_uses:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_funding_uses:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_funding_uses:downside/value | None | 18.476 |
| /operating_model/cells/downside_2026q4_other_funding_uses:downside/basis | None | Explicit desk allowance outside operating cash/capex: includes $10M assumed sale costs only for WULF upside closing. Zero otherwise leaves undisclosed acquisitions, contingent settlements and minority distributions unmodeled, not known absent. Construction reimbursements already included in capex are not deducted again. |
| /operating_model/cells/downside_2026q4_other_funding_uses:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_other_funding_uses:downside/id | None | downside_2026q4_other_funding_uses |
| /operating_model/cells/downside_2026q4_other_funding_uses:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_other_funding_uses:downside/label | None | Additional investing, fees and outside-owner cash uses |
| /operating_model/cells/downside_2026q4_other_funding_uses:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_other_funding_uses:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_other_funding_uses:downside/value | None | 0.0 |
| /operating_model/cells/downside_2026q4_principal_cash:downside/basis | None | Annual disclosed maturity times explicit quarterly allocation. No second deduction of operating coupon costs. |
| /operating_model/cells/downside_2026q4_principal_cash:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_principal_cash:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q4_principal_cash:downside/formula/refs/0 | None | scheduled_h2_principal |
| /operating_model/cells/downside_2026q4_principal_cash:downside/formula/refs/1 | None | downside_2026q4_principal_weight |
| /operating_model/cells/downside_2026q4_principal_cash:downside/id | None | downside_2026q4_principal_cash |
| /operating_model/cells/downside_2026q4_principal_cash:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_principal_cash:downside/label | None | Scheduled principal cash use |
| /operating_model/cells/downside_2026q4_principal_cash:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_principal_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_principal_cash:downside/value | None | 18.476 |
| /operating_model/cells/downside_2026q4_principal_weight:downside/basis | None | Desk timing of disclosed maturity total; CIFR 2027 is spread evenly as a planning proxy across different project instruments. Annual principal reconciles, but this is not an exact payment calendar. |
| /operating_model/cells/downside_2026q4_principal_weight:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_principal_weight:downside/id | None | downside_2026q4_principal_weight |
| /operating_model/cells/downside_2026q4_principal_weight:downside/kind | None | assumption |
| /operating_model/cells/downside_2026q4_principal_weight:downside/label | None | Share of dated annual principal schedule |
| /operating_model/cells/downside_2026q4_principal_weight:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_principal_weight:downside/unit | None | ratio |
| /operating_model/cells/downside_2026q4_principal_weight:downside/value | None | 1.0 |
| /operating_model/cells/downside_2026q4_restricted_release:downside/basis | None | Modeled construction capex times eligible restricted-funding fraction; existing project cash funds an eligible use, not corporate income. Published cases preserve the noncurrent reserve and never release more than construction spending. |
| /operating_model/cells/downside_2026q4_restricted_release:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_restricted_release:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2026q4_restricted_release:downside/formula/refs/0 | None | downside_2026q4_capex |
| /operating_model/cells/downside_2026q4_restricted_release:downside/formula/refs/1 | None | downside_2026q4_eligible_restricted_fraction |
| /operating_model/cells/downside_2026q4_restricted_release:downside/id | None | downside_2026q4_restricted_release |
| /operating_model/cells/downside_2026q4_restricted_release:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_restricted_release:downside/label | None | Restricted funds used for qualifying spending |
| /operating_model/cells/downside_2026q4_restricted_release:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_restricted_release:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_restricted_release:downside/value | None | 454.99999999999994 |
| /operating_model/cells/downside_2026q4_restricted_remaining:downside/basis | None | Opening restricted balance less modeled release. Not automatically available to satisfy other project or parent claims. |
| /operating_model/cells/downside_2026q4_restricted_remaining:downside/case | None | downside |
| /operating_model/cells/downside_2026q4_restricted_remaining:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2026q4_restricted_remaining:downside/formula/refs/0 | None | downside_2026q3_restricted_remaining |
| /operating_model/cells/downside_2026q4_restricted_remaining:downside/formula/refs/1 | None | downside_2026q4_restricted_release |
| /operating_model/cells/downside_2026q4_restricted_remaining:downside/id | None | downside_2026q4_restricted_remaining |
| /operating_model/cells/downside_2026q4_restricted_remaining:downside/kind | None | derived |
| /operating_model/cells/downside_2026q4_restricted_remaining:downside/label | None | Remaining restricted cash in funding bridge |
| /operating_model/cells/downside_2026q4_restricted_remaining:downside/period | None | 2026Q4 |
| /operating_model/cells/downside_2026q4_restricted_remaining:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2026q4_restricted_remaining:downside/value | None | 2817.958 |
| /operating_model/cells/downside_2027q1_asset_sale_cash:downside/basis | None | No other asset sales assumed; no sale revenue is counted as recurring operating cash. |
| /operating_model/cells/downside_2027q1_asset_sale_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_asset_sale_cash:downside/id | None | downside_2027q1_asset_sale_cash |
| /operating_model/cells/downside_2027q1_asset_sale_cash:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_asset_sale_cash:downside/label | None | Asset-sale cash assumed |
| /operating_model/cells/downside_2027q1_asset_sale_cash:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_asset_sale_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_asset_sale_cash:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q1_cash_with_funding:downside/basis | None | Combines the operating model with explicit financing/restricted-fund assumptions once. |
| /operating_model/cells/downside_2027q1_cash_with_funding:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_cash_with_funding:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q1_cash_with_funding:downside/formula/refs/0 | None | downside_2027q1_cash_after_capex |
| /operating_model/cells/downside_2027q1_cash_with_funding:downside/formula/refs/1 | None | downside_2027q1_funding_sources |
| /operating_model/cells/downside_2027q1_cash_with_funding:downside/id | None | downside_2027q1_cash_with_funding |
| /operating_model/cells/downside_2027q1_cash_with_funding:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_cash_with_funding:downside/label | None | Operating cash after capex plus funding |
| /operating_model/cells/downside_2027q1_cash_with_funding:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_cash_with_funding:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_cash_with_funding:downside/value | None | -166.92834499999998 |
| /operating_model/cells/downside_2027q1_eligible_restricted_fraction:downside/basis | None | Desk fraction of modeled construction cash paid from existing eligible project funds. Must be between zero and one, cannot exceed available restricted funds, and never releases noncurrent reserves. |
| /operating_model/cells/downside_2027q1_eligible_restricted_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_eligible_restricted_fraction:downside/id | None | downside_2027q1_eligible_restricted_fraction |
| /operating_model/cells/downside_2027q1_eligible_restricted_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_eligible_restricted_fraction:downside/label | None | Construction spending eligible for restricted funding |
| /operating_model/cells/downside_2027q1_eligible_restricted_fraction:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_eligible_restricted_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q1_eligible_restricted_fraction:downside/value | None | 0.7 |
| /operating_model/cells/downside_2027q1_external_net_funding:downside/basis | None | No unspecified new funding assumed. A negative funding balance identifies financing or spending changes still needed; it is not a forecast negative bank balance. |
| /operating_model/cells/downside_2027q1_external_net_funding:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_external_net_funding:downside/id | None | downside_2027q1_external_net_funding |
| /operating_model/cells/downside_2027q1_external_net_funding:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_external_net_funding:downside/label | None | Additional net financing assumed |
| /operating_model/cells/downside_2027q1_external_net_funding:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_external_net_funding:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_external_net_funding:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q1_funding_balance:downside/basis | None | June unrestricted-cash baseline rolled through operating, capex and explicit funding assumptions. Negative means an unfilled funding requirement. This is not current cash, bank availability, owner distributions or a fully funded claim. |
| /operating_model/cells/downside_2027q1_funding_balance:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_funding_balance:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q1_funding_balance:downside/formula/refs/0 | None | downside_2026q4_funding_balance |
| /operating_model/cells/downside_2027q1_funding_balance:downside/formula/refs/1 | None | downside_2027q1_funding_change |
| /operating_model/cells/downside_2027q1_funding_balance:downside/id | None | downside_2027q1_funding_balance |
| /operating_model/cells/downside_2027q1_funding_balance:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_funding_balance:downside/label | None | Funding balance under stated assumptions |
| /operating_model/cells/downside_2027q1_funding_balance:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_funding_balance:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_funding_balance:downside/value | None | 49.826454999999896 |
| /operating_model/cells/downside_2027q1_funding_change:downside/basis | None | Funding inflows less explicit cash uses; not a full GAAP cash-flow statement. |
| /operating_model/cells/downside_2027q1_funding_change:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_funding_change:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q1_funding_change:downside/formula/refs/0 | None | downside_2027q1_cash_with_funding |
| /operating_model/cells/downside_2027q1_funding_change:downside/formula/refs/1 | None | downside_2027q1_funding_uses |
| /operating_model/cells/downside_2027q1_funding_change:downside/id | None | downside_2027q1_funding_change |
| /operating_model/cells/downside_2027q1_funding_change:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_funding_change:downside/label | None | Net modeled funding change |
| /operating_model/cells/downside_2027q1_funding_change:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_funding_change:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_funding_change:downside/value | None | -221.20459499999998 |
| /operating_model/cells/downside_2027q1_funding_sources:downside/basis | None | Transfers from restricted cash, dated financing and conditional disposals stay distinct from revenue. |
| /operating_model/cells/downside_2027q1_funding_sources:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_funding_sources:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q1_funding_sources:downside/formula/refs/0 | None | downside_2027q1_restricted_release |
| /operating_model/cells/downside_2027q1_funding_sources:downside/formula/refs/1 | None | downside_2027q1_external_net_funding |
| /operating_model/cells/downside_2027q1_funding_sources:downside/formula/refs/2 | None | downside_2027q1_asset_sale_cash |
| /operating_model/cells/downside_2027q1_funding_sources:downside/id | None | downside_2027q1_funding_sources |
| /operating_model/cells/downside_2027q1_funding_sources:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_funding_sources:downside/label | None | Funding inflows outside operating model |
| /operating_model/cells/downside_2027q1_funding_sources:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_funding_sources:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_funding_sources:downside/value | None | 280.0 |
| /operating_model/cells/downside_2027q1_funding_uses:downside/basis | None | Principal and extra investing/ownership uses; interest, working capital and capex are already in the existing operating bridge. |
| /operating_model/cells/downside_2027q1_funding_uses:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_funding_uses:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q1_funding_uses:downside/formula/refs/0 | None | downside_2027q1_principal_cash |
| /operating_model/cells/downside_2027q1_funding_uses:downside/formula/refs/1 | None | downside_2027q1_other_funding_uses |
| /operating_model/cells/downside_2027q1_funding_uses:downside/id | None | downside_2027q1_funding_uses |
| /operating_model/cells/downside_2027q1_funding_uses:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_funding_uses:downside/label | None | Cash uses outside operating model |
| /operating_model/cells/downside_2027q1_funding_uses:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_funding_uses:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_funding_uses:downside/value | None | 54.27625 |
| /operating_model/cells/downside_2027q1_other_funding_uses:downside/basis | None | Explicit desk allowance outside operating cash/capex: includes $10M assumed sale costs only for WULF upside closing. Zero otherwise leaves undisclosed acquisitions, contingent settlements and minority distributions unmodeled, not known absent. Construction reimbursements already included in capex are not deducted again. |
| /operating_model/cells/downside_2027q1_other_funding_uses:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_other_funding_uses:downside/id | None | downside_2027q1_other_funding_uses |
| /operating_model/cells/downside_2027q1_other_funding_uses:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_other_funding_uses:downside/label | None | Additional investing, fees and outside-owner cash uses |
| /operating_model/cells/downside_2027q1_other_funding_uses:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_other_funding_uses:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_other_funding_uses:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q1_principal_cash:downside/basis | None | Annual disclosed maturity times explicit quarterly allocation. No second deduction of operating coupon costs. |
| /operating_model/cells/downside_2027q1_principal_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_principal_cash:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q1_principal_cash:downside/formula/refs/0 | None | scheduled_2027_principal |
| /operating_model/cells/downside_2027q1_principal_cash:downside/formula/refs/1 | None | downside_2027q1_principal_weight |
| /operating_model/cells/downside_2027q1_principal_cash:downside/id | None | downside_2027q1_principal_cash |
| /operating_model/cells/downside_2027q1_principal_cash:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_principal_cash:downside/label | None | Scheduled principal cash use |
| /operating_model/cells/downside_2027q1_principal_cash:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_principal_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_principal_cash:downside/value | None | 54.27625 |
| /operating_model/cells/downside_2027q1_principal_weight:downside/basis | None | Desk timing of disclosed maturity total; CIFR 2027 is spread evenly as a planning proxy across different project instruments. Annual principal reconciles, but this is not an exact payment calendar. |
| /operating_model/cells/downside_2027q1_principal_weight:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_principal_weight:downside/id | None | downside_2027q1_principal_weight |
| /operating_model/cells/downside_2027q1_principal_weight:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q1_principal_weight:downside/label | None | Share of dated annual principal schedule |
| /operating_model/cells/downside_2027q1_principal_weight:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_principal_weight:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q1_principal_weight:downside/value | None | 0.25 |
| /operating_model/cells/downside_2027q1_restricted_release:downside/basis | None | Modeled construction capex times eligible restricted-funding fraction; existing project cash funds an eligible use, not corporate income. Published cases preserve the noncurrent reserve and never release more than construction spending. |
| /operating_model/cells/downside_2027q1_restricted_release:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_restricted_release:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q1_restricted_release:downside/formula/refs/0 | None | downside_2027q1_capex |
| /operating_model/cells/downside_2027q1_restricted_release:downside/formula/refs/1 | None | downside_2027q1_eligible_restricted_fraction |
| /operating_model/cells/downside_2027q1_restricted_release:downside/id | None | downside_2027q1_restricted_release |
| /operating_model/cells/downside_2027q1_restricted_release:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_restricted_release:downside/label | None | Restricted funds used for qualifying spending |
| /operating_model/cells/downside_2027q1_restricted_release:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_restricted_release:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_restricted_release:downside/value | None | 280.0 |
| /operating_model/cells/downside_2027q1_restricted_remaining:downside/basis | None | Opening restricted balance less modeled release. Not automatically available to satisfy other project or parent claims. |
| /operating_model/cells/downside_2027q1_restricted_remaining:downside/case | None | downside |
| /operating_model/cells/downside_2027q1_restricted_remaining:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q1_restricted_remaining:downside/formula/refs/0 | None | downside_2026q4_restricted_remaining |
| /operating_model/cells/downside_2027q1_restricted_remaining:downside/formula/refs/1 | None | downside_2027q1_restricted_release |
| /operating_model/cells/downside_2027q1_restricted_remaining:downside/id | None | downside_2027q1_restricted_remaining |
| /operating_model/cells/downside_2027q1_restricted_remaining:downside/kind | None | derived |
| /operating_model/cells/downside_2027q1_restricted_remaining:downside/label | None | Remaining restricted cash in funding bridge |
| /operating_model/cells/downside_2027q1_restricted_remaining:downside/period | None | 2027Q1 |
| /operating_model/cells/downside_2027q1_restricted_remaining:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q1_restricted_remaining:downside/value | None | 2537.958 |
| /operating_model/cells/downside_2027q2_asset_sale_cash:downside/basis | None | No other asset sales assumed; no sale revenue is counted as recurring operating cash. |
| /operating_model/cells/downside_2027q2_asset_sale_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_asset_sale_cash:downside/id | None | downside_2027q2_asset_sale_cash |
| /operating_model/cells/downside_2027q2_asset_sale_cash:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_asset_sale_cash:downside/label | None | Asset-sale cash assumed |
| /operating_model/cells/downside_2027q2_asset_sale_cash:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_asset_sale_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_asset_sale_cash:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q2_cash_with_funding:downside/basis | None | Combines the operating model with explicit financing/restricted-fund assumptions once. |
| /operating_model/cells/downside_2027q2_cash_with_funding:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_cash_with_funding:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q2_cash_with_funding:downside/formula/refs/0 | None | downside_2027q2_cash_after_capex |
| /operating_model/cells/downside_2027q2_cash_with_funding:downside/formula/refs/1 | None | downside_2027q2_funding_sources |
| /operating_model/cells/downside_2027q2_cash_with_funding:downside/id | None | downside_2027q2_cash_with_funding |
| /operating_model/cells/downside_2027q2_cash_with_funding:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_cash_with_funding:downside/label | None | Operating cash after capex plus funding |
| /operating_model/cells/downside_2027q2_cash_with_funding:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_cash_with_funding:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_cash_with_funding:downside/value | None | -97.17253000000002 |
| /operating_model/cells/downside_2027q2_eligible_restricted_fraction:downside/basis | None | Desk fraction of modeled construction cash paid from existing eligible project funds. Must be between zero and one, cannot exceed available restricted funds, and never releases noncurrent reserves. |
| /operating_model/cells/downside_2027q2_eligible_restricted_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_eligible_restricted_fraction:downside/id | None | downside_2027q2_eligible_restricted_fraction |
| /operating_model/cells/downside_2027q2_eligible_restricted_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_eligible_restricted_fraction:downside/label | None | Construction spending eligible for restricted funding |
| /operating_model/cells/downside_2027q2_eligible_restricted_fraction:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_eligible_restricted_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q2_eligible_restricted_fraction:downside/value | None | 0.7 |
| /operating_model/cells/downside_2027q2_external_net_funding:downside/basis | None | No unspecified new funding assumed. A negative funding balance identifies financing or spending changes still needed; it is not a forecast negative bank balance. |
| /operating_model/cells/downside_2027q2_external_net_funding:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_external_net_funding:downside/id | None | downside_2027q2_external_net_funding |
| /operating_model/cells/downside_2027q2_external_net_funding:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_external_net_funding:downside/label | None | Additional net financing assumed |
| /operating_model/cells/downside_2027q2_external_net_funding:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_external_net_funding:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_external_net_funding:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q2_funding_balance:downside/basis | None | June unrestricted-cash baseline rolled through operating, capex and explicit funding assumptions. Negative means an unfilled funding requirement. This is not current cash, bank availability, owner distributions or a fully funded claim. |
| /operating_model/cells/downside_2027q2_funding_balance:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_funding_balance:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q2_funding_balance:downside/formula/refs/0 | None | downside_2027q1_funding_balance |
| /operating_model/cells/downside_2027q2_funding_balance:downside/formula/refs/1 | None | downside_2027q2_funding_change |
| /operating_model/cells/downside_2027q2_funding_balance:downside/id | None | downside_2027q2_funding_balance |
| /operating_model/cells/downside_2027q2_funding_balance:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_funding_balance:downside/label | None | Funding balance under stated assumptions |
| /operating_model/cells/downside_2027q2_funding_balance:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_funding_balance:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_funding_balance:downside/value | None | -101.62232500000013 |
| /operating_model/cells/downside_2027q2_funding_change:downside/basis | None | Funding inflows less explicit cash uses; not a full GAAP cash-flow statement. |
| /operating_model/cells/downside_2027q2_funding_change:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_funding_change:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q2_funding_change:downside/formula/refs/0 | None | downside_2027q2_cash_with_funding |
| /operating_model/cells/downside_2027q2_funding_change:downside/formula/refs/1 | None | downside_2027q2_funding_uses |
| /operating_model/cells/downside_2027q2_funding_change:downside/id | None | downside_2027q2_funding_change |
| /operating_model/cells/downside_2027q2_funding_change:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_funding_change:downside/label | None | Net modeled funding change |
| /operating_model/cells/downside_2027q2_funding_change:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_funding_change:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_funding_change:downside/value | None | -151.44878000000003 |
| /operating_model/cells/downside_2027q2_funding_sources:downside/basis | None | Transfers from restricted cash, dated financing and conditional disposals stay distinct from revenue. |
| /operating_model/cells/downside_2027q2_funding_sources:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_funding_sources:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q2_funding_sources:downside/formula/refs/0 | None | downside_2027q2_restricted_release |
| /operating_model/cells/downside_2027q2_funding_sources:downside/formula/refs/1 | None | downside_2027q2_external_net_funding |
| /operating_model/cells/downside_2027q2_funding_sources:downside/formula/refs/2 | None | downside_2027q2_asset_sale_cash |
| /operating_model/cells/downside_2027q2_funding_sources:downside/id | None | downside_2027q2_funding_sources |
| /operating_model/cells/downside_2027q2_funding_sources:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_funding_sources:downside/label | None | Funding inflows outside operating model |
| /operating_model/cells/downside_2027q2_funding_sources:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_funding_sources:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_funding_sources:downside/value | None | 244.99999999999997 |
| /operating_model/cells/downside_2027q2_funding_uses:downside/basis | None | Principal and extra investing/ownership uses; interest, working capital and capex are already in the existing operating bridge. |
| /operating_model/cells/downside_2027q2_funding_uses:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_funding_uses:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q2_funding_uses:downside/formula/refs/0 | None | downside_2027q2_principal_cash |
| /operating_model/cells/downside_2027q2_funding_uses:downside/formula/refs/1 | None | downside_2027q2_other_funding_uses |
| /operating_model/cells/downside_2027q2_funding_uses:downside/id | None | downside_2027q2_funding_uses |
| /operating_model/cells/downside_2027q2_funding_uses:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_funding_uses:downside/label | None | Cash uses outside operating model |
| /operating_model/cells/downside_2027q2_funding_uses:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_funding_uses:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_funding_uses:downside/value | None | 54.27625 |
| /operating_model/cells/downside_2027q2_other_funding_uses:downside/basis | None | Explicit desk allowance outside operating cash/capex: includes $10M assumed sale costs only for WULF upside closing. Zero otherwise leaves undisclosed acquisitions, contingent settlements and minority distributions unmodeled, not known absent. Construction reimbursements already included in capex are not deducted again. |
| /operating_model/cells/downside_2027q2_other_funding_uses:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_other_funding_uses:downside/id | None | downside_2027q2_other_funding_uses |
| /operating_model/cells/downside_2027q2_other_funding_uses:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_other_funding_uses:downside/label | None | Additional investing, fees and outside-owner cash uses |
| /operating_model/cells/downside_2027q2_other_funding_uses:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_other_funding_uses:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_other_funding_uses:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q2_principal_cash:downside/basis | None | Annual disclosed maturity times explicit quarterly allocation. No second deduction of operating coupon costs. |
| /operating_model/cells/downside_2027q2_principal_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_principal_cash:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q2_principal_cash:downside/formula/refs/0 | None | scheduled_2027_principal |
| /operating_model/cells/downside_2027q2_principal_cash:downside/formula/refs/1 | None | downside_2027q2_principal_weight |
| /operating_model/cells/downside_2027q2_principal_cash:downside/id | None | downside_2027q2_principal_cash |
| /operating_model/cells/downside_2027q2_principal_cash:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_principal_cash:downside/label | None | Scheduled principal cash use |
| /operating_model/cells/downside_2027q2_principal_cash:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_principal_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_principal_cash:downside/value | None | 54.27625 |
| /operating_model/cells/downside_2027q2_principal_weight:downside/basis | None | Desk timing of disclosed maturity total; CIFR 2027 is spread evenly as a planning proxy across different project instruments. Annual principal reconciles, but this is not an exact payment calendar. |
| /operating_model/cells/downside_2027q2_principal_weight:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_principal_weight:downside/id | None | downside_2027q2_principal_weight |
| /operating_model/cells/downside_2027q2_principal_weight:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q2_principal_weight:downside/label | None | Share of dated annual principal schedule |
| /operating_model/cells/downside_2027q2_principal_weight:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_principal_weight:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q2_principal_weight:downside/value | None | 0.25 |
| /operating_model/cells/downside_2027q2_restricted_release:downside/basis | None | Modeled construction capex times eligible restricted-funding fraction; existing project cash funds an eligible use, not corporate income. Published cases preserve the noncurrent reserve and never release more than construction spending. |
| /operating_model/cells/downside_2027q2_restricted_release:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_restricted_release:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q2_restricted_release:downside/formula/refs/0 | None | downside_2027q2_capex |
| /operating_model/cells/downside_2027q2_restricted_release:downside/formula/refs/1 | None | downside_2027q2_eligible_restricted_fraction |
| /operating_model/cells/downside_2027q2_restricted_release:downside/id | None | downside_2027q2_restricted_release |
| /operating_model/cells/downside_2027q2_restricted_release:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_restricted_release:downside/label | None | Restricted funds used for qualifying spending |
| /operating_model/cells/downside_2027q2_restricted_release:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_restricted_release:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_restricted_release:downside/value | None | 244.99999999999997 |
| /operating_model/cells/downside_2027q2_restricted_remaining:downside/basis | None | Opening restricted balance less modeled release. Not automatically available to satisfy other project or parent claims. |
| /operating_model/cells/downside_2027q2_restricted_remaining:downside/case | None | downside |
| /operating_model/cells/downside_2027q2_restricted_remaining:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q2_restricted_remaining:downside/formula/refs/0 | None | downside_2027q1_restricted_remaining |
| /operating_model/cells/downside_2027q2_restricted_remaining:downside/formula/refs/1 | None | downside_2027q2_restricted_release |
| /operating_model/cells/downside_2027q2_restricted_remaining:downside/id | None | downside_2027q2_restricted_remaining |
| /operating_model/cells/downside_2027q2_restricted_remaining:downside/kind | None | derived |
| /operating_model/cells/downside_2027q2_restricted_remaining:downside/label | None | Remaining restricted cash in funding bridge |
| /operating_model/cells/downside_2027q2_restricted_remaining:downside/period | None | 2027Q2 |
| /operating_model/cells/downside_2027q2_restricted_remaining:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q2_restricted_remaining:downside/value | None | 2292.958 |
| /operating_model/cells/downside_2027q3_asset_sale_cash:downside/basis | None | No other asset sales assumed; no sale revenue is counted as recurring operating cash. |
| /operating_model/cells/downside_2027q3_asset_sale_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_asset_sale_cash:downside/id | None | downside_2027q3_asset_sale_cash |
| /operating_model/cells/downside_2027q3_asset_sale_cash:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_asset_sale_cash:downside/label | None | Asset-sale cash assumed |
| /operating_model/cells/downside_2027q3_asset_sale_cash:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_asset_sale_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_asset_sale_cash:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q3_cash_with_funding:downside/basis | None | Combines the operating model with explicit financing/restricted-fund assumptions once. |
| /operating_model/cells/downside_2027q3_cash_with_funding:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_cash_with_funding:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q3_cash_with_funding:downside/formula/refs/0 | None | downside_2027q3_cash_after_capex |
| /operating_model/cells/downside_2027q3_cash_with_funding:downside/formula/refs/1 | None | downside_2027q3_funding_sources |
| /operating_model/cells/downside_2027q3_cash_with_funding:downside/id | None | downside_2027q3_cash_with_funding |
| /operating_model/cells/downside_2027q3_cash_with_funding:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_cash_with_funding:downside/label | None | Operating cash after capex plus funding |
| /operating_model/cells/downside_2027q3_cash_with_funding:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_cash_with_funding:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_cash_with_funding:downside/value | None | -17.90471499999998 |
| /operating_model/cells/downside_2027q3_eligible_restricted_fraction:downside/basis | None | Desk fraction of modeled construction cash paid from existing eligible project funds. Must be between zero and one, cannot exceed available restricted funds, and never releases noncurrent reserves. |
| /operating_model/cells/downside_2027q3_eligible_restricted_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_eligible_restricted_fraction:downside/id | None | downside_2027q3_eligible_restricted_fraction |
| /operating_model/cells/downside_2027q3_eligible_restricted_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_eligible_restricted_fraction:downside/label | None | Construction spending eligible for restricted funding |
| /operating_model/cells/downside_2027q3_eligible_restricted_fraction:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_eligible_restricted_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q3_eligible_restricted_fraction:downside/value | None | 0.7 |
| /operating_model/cells/downside_2027q3_external_net_funding:downside/basis | None | No unspecified new funding assumed. A negative funding balance identifies financing or spending changes still needed; it is not a forecast negative bank balance. |
| /operating_model/cells/downside_2027q3_external_net_funding:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_external_net_funding:downside/id | None | downside_2027q3_external_net_funding |
| /operating_model/cells/downside_2027q3_external_net_funding:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_external_net_funding:downside/label | None | Additional net financing assumed |
| /operating_model/cells/downside_2027q3_external_net_funding:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_external_net_funding:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_external_net_funding:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q3_funding_balance:downside/basis | None | June unrestricted-cash baseline rolled through operating, capex and explicit funding assumptions. Negative means an unfilled funding requirement. This is not current cash, bank availability, owner distributions or a fully funded claim. |
| /operating_model/cells/downside_2027q3_funding_balance:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_funding_balance:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q3_funding_balance:downside/formula/refs/0 | None | downside_2027q2_funding_balance |
| /operating_model/cells/downside_2027q3_funding_balance:downside/formula/refs/1 | None | downside_2027q3_funding_change |
| /operating_model/cells/downside_2027q3_funding_balance:downside/id | None | downside_2027q3_funding_balance |
| /operating_model/cells/downside_2027q3_funding_balance:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_funding_balance:downside/label | None | Funding balance under stated assumptions |
| /operating_model/cells/downside_2027q3_funding_balance:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_funding_balance:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_funding_balance:downside/value | None | -173.80329000000012 |
| /operating_model/cells/downside_2027q3_funding_change:downside/basis | None | Funding inflows less explicit cash uses; not a full GAAP cash-flow statement. |
| /operating_model/cells/downside_2027q3_funding_change:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_funding_change:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q3_funding_change:downside/formula/refs/0 | None | downside_2027q3_cash_with_funding |
| /operating_model/cells/downside_2027q3_funding_change:downside/formula/refs/1 | None | downside_2027q3_funding_uses |
| /operating_model/cells/downside_2027q3_funding_change:downside/id | None | downside_2027q3_funding_change |
| /operating_model/cells/downside_2027q3_funding_change:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_funding_change:downside/label | None | Net modeled funding change |
| /operating_model/cells/downside_2027q3_funding_change:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_funding_change:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_funding_change:downside/value | None | -72.18096499999999 |
| /operating_model/cells/downside_2027q3_funding_sources:downside/basis | None | Transfers from restricted cash, dated financing and conditional disposals stay distinct from revenue. |
| /operating_model/cells/downside_2027q3_funding_sources:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_funding_sources:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q3_funding_sources:downside/formula/refs/0 | None | downside_2027q3_restricted_release |
| /operating_model/cells/downside_2027q3_funding_sources:downside/formula/refs/1 | None | downside_2027q3_external_net_funding |
| /operating_model/cells/downside_2027q3_funding_sources:downside/formula/refs/2 | None | downside_2027q3_asset_sale_cash |
| /operating_model/cells/downside_2027q3_funding_sources:downside/id | None | downside_2027q3_funding_sources |
| /operating_model/cells/downside_2027q3_funding_sources:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_funding_sources:downside/label | None | Funding inflows outside operating model |
| /operating_model/cells/downside_2027q3_funding_sources:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_funding_sources:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_funding_sources:downside/value | None | 175.0 |
| /operating_model/cells/downside_2027q3_funding_uses:downside/basis | None | Principal and extra investing/ownership uses; interest, working capital and capex are already in the existing operating bridge. |
| /operating_model/cells/downside_2027q3_funding_uses:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_funding_uses:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q3_funding_uses:downside/formula/refs/0 | None | downside_2027q3_principal_cash |
| /operating_model/cells/downside_2027q3_funding_uses:downside/formula/refs/1 | None | downside_2027q3_other_funding_uses |
| /operating_model/cells/downside_2027q3_funding_uses:downside/id | None | downside_2027q3_funding_uses |
| /operating_model/cells/downside_2027q3_funding_uses:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_funding_uses:downside/label | None | Cash uses outside operating model |
| /operating_model/cells/downside_2027q3_funding_uses:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_funding_uses:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_funding_uses:downside/value | None | 54.27625 |
| /operating_model/cells/downside_2027q3_other_funding_uses:downside/basis | None | Explicit desk allowance outside operating cash/capex: includes $10M assumed sale costs only for WULF upside closing. Zero otherwise leaves undisclosed acquisitions, contingent settlements and minority distributions unmodeled, not known absent. Construction reimbursements already included in capex are not deducted again. |
| /operating_model/cells/downside_2027q3_other_funding_uses:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_other_funding_uses:downside/id | None | downside_2027q3_other_funding_uses |
| /operating_model/cells/downside_2027q3_other_funding_uses:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_other_funding_uses:downside/label | None | Additional investing, fees and outside-owner cash uses |
| /operating_model/cells/downside_2027q3_other_funding_uses:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_other_funding_uses:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_other_funding_uses:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q3_principal_cash:downside/basis | None | Annual disclosed maturity times explicit quarterly allocation. No second deduction of operating coupon costs. |
| /operating_model/cells/downside_2027q3_principal_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_principal_cash:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q3_principal_cash:downside/formula/refs/0 | None | scheduled_2027_principal |
| /operating_model/cells/downside_2027q3_principal_cash:downside/formula/refs/1 | None | downside_2027q3_principal_weight |
| /operating_model/cells/downside_2027q3_principal_cash:downside/id | None | downside_2027q3_principal_cash |
| /operating_model/cells/downside_2027q3_principal_cash:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_principal_cash:downside/label | None | Scheduled principal cash use |
| /operating_model/cells/downside_2027q3_principal_cash:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_principal_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_principal_cash:downside/value | None | 54.27625 |
| /operating_model/cells/downside_2027q3_principal_weight:downside/basis | None | Desk timing of disclosed maturity total; CIFR 2027 is spread evenly as a planning proxy across different project instruments. Annual principal reconciles, but this is not an exact payment calendar. |
| /operating_model/cells/downside_2027q3_principal_weight:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_principal_weight:downside/id | None | downside_2027q3_principal_weight |
| /operating_model/cells/downside_2027q3_principal_weight:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q3_principal_weight:downside/label | None | Share of dated annual principal schedule |
| /operating_model/cells/downside_2027q3_principal_weight:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_principal_weight:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q3_principal_weight:downside/value | None | 0.25 |
| /operating_model/cells/downside_2027q3_restricted_release:downside/basis | None | Modeled construction capex times eligible restricted-funding fraction; existing project cash funds an eligible use, not corporate income. Published cases preserve the noncurrent reserve and never release more than construction spending. |
| /operating_model/cells/downside_2027q3_restricted_release:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_restricted_release:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q3_restricted_release:downside/formula/refs/0 | None | downside_2027q3_capex |
| /operating_model/cells/downside_2027q3_restricted_release:downside/formula/refs/1 | None | downside_2027q3_eligible_restricted_fraction |
| /operating_model/cells/downside_2027q3_restricted_release:downside/id | None | downside_2027q3_restricted_release |
| /operating_model/cells/downside_2027q3_restricted_release:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_restricted_release:downside/label | None | Restricted funds used for qualifying spending |
| /operating_model/cells/downside_2027q3_restricted_release:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_restricted_release:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_restricted_release:downside/value | None | 175.0 |
| /operating_model/cells/downside_2027q3_restricted_remaining:downside/basis | None | Opening restricted balance less modeled release. Not automatically available to satisfy other project or parent claims. |
| /operating_model/cells/downside_2027q3_restricted_remaining:downside/case | None | downside |
| /operating_model/cells/downside_2027q3_restricted_remaining:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q3_restricted_remaining:downside/formula/refs/0 | None | downside_2027q2_restricted_remaining |
| /operating_model/cells/downside_2027q3_restricted_remaining:downside/formula/refs/1 | None | downside_2027q3_restricted_release |
| /operating_model/cells/downside_2027q3_restricted_remaining:downside/id | None | downside_2027q3_restricted_remaining |
| /operating_model/cells/downside_2027q3_restricted_remaining:downside/kind | None | derived |
| /operating_model/cells/downside_2027q3_restricted_remaining:downside/label | None | Remaining restricted cash in funding bridge |
| /operating_model/cells/downside_2027q3_restricted_remaining:downside/period | None | 2027Q3 |
| /operating_model/cells/downside_2027q3_restricted_remaining:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q3_restricted_remaining:downside/value | None | 2117.958 |
| /operating_model/cells/downside_2027q4_asset_sale_cash:downside/basis | None | No other asset sales assumed; no sale revenue is counted as recurring operating cash. |
| /operating_model/cells/downside_2027q4_asset_sale_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_asset_sale_cash:downside/id | None | downside_2027q4_asset_sale_cash |
| /operating_model/cells/downside_2027q4_asset_sale_cash:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_asset_sale_cash:downside/label | None | Asset-sale cash assumed |
| /operating_model/cells/downside_2027q4_asset_sale_cash:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_asset_sale_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_asset_sale_cash:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q4_cash_with_funding:downside/basis | None | Combines the operating model with explicit financing/restricted-fund assumptions once. |
| /operating_model/cells/downside_2027q4_cash_with_funding:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_cash_with_funding:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q4_cash_with_funding:downside/formula/refs/0 | None | downside_2027q4_cash_after_capex |
| /operating_model/cells/downside_2027q4_cash_with_funding:downside/formula/refs/1 | None | downside_2027q4_funding_sources |
| /operating_model/cells/downside_2027q4_cash_with_funding:downside/id | None | downside_2027q4_cash_with_funding |
| /operating_model/cells/downside_2027q4_cash_with_funding:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_cash_with_funding:downside/label | None | Operating cash after capex plus funding |
| /operating_model/cells/downside_2027q4_cash_with_funding:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_cash_with_funding:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_cash_with_funding:downside/value | None | 18.923100000000005 |
| /operating_model/cells/downside_2027q4_eligible_restricted_fraction:downside/basis | None | Desk fraction of modeled construction cash paid from existing eligible project funds. Must be between zero and one, cannot exceed available restricted funds, and never releases noncurrent reserves. |
| /operating_model/cells/downside_2027q4_eligible_restricted_fraction:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_eligible_restricted_fraction:downside/id | None | downside_2027q4_eligible_restricted_fraction |
| /operating_model/cells/downside_2027q4_eligible_restricted_fraction:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_eligible_restricted_fraction:downside/label | None | Construction spending eligible for restricted funding |
| /operating_model/cells/downside_2027q4_eligible_restricted_fraction:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_eligible_restricted_fraction:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q4_eligible_restricted_fraction:downside/value | None | 0.7 |
| /operating_model/cells/downside_2027q4_external_net_funding:downside/basis | None | No unspecified new funding assumed. A negative funding balance identifies financing or spending changes still needed; it is not a forecast negative bank balance. |
| /operating_model/cells/downside_2027q4_external_net_funding:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_external_net_funding:downside/id | None | downside_2027q4_external_net_funding |
| /operating_model/cells/downside_2027q4_external_net_funding:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_external_net_funding:downside/label | None | Additional net financing assumed |
| /operating_model/cells/downside_2027q4_external_net_funding:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_external_net_funding:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_external_net_funding:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q4_funding_balance:downside/basis | None | June unrestricted-cash baseline rolled through operating, capex and explicit funding assumptions. Negative means an unfilled funding requirement. This is not current cash, bank availability, owner distributions or a fully funded claim. |
| /operating_model/cells/downside_2027q4_funding_balance:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_funding_balance:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q4_funding_balance:downside/formula/refs/0 | None | downside_2027q3_funding_balance |
| /operating_model/cells/downside_2027q4_funding_balance:downside/formula/refs/1 | None | downside_2027q4_funding_change |
| /operating_model/cells/downside_2027q4_funding_balance:downside/id | None | downside_2027q4_funding_balance |
| /operating_model/cells/downside_2027q4_funding_balance:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_funding_balance:downside/label | None | Funding balance under stated assumptions |
| /operating_model/cells/downside_2027q4_funding_balance:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_funding_balance:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_funding_balance:downside/value | None | -209.15644000000012 |
| /operating_model/cells/downside_2027q4_funding_change:downside/basis | None | Funding inflows less explicit cash uses; not a full GAAP cash-flow statement. |
| /operating_model/cells/downside_2027q4_funding_change:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_funding_change:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q4_funding_change:downside/formula/refs/0 | None | downside_2027q4_cash_with_funding |
| /operating_model/cells/downside_2027q4_funding_change:downside/formula/refs/1 | None | downside_2027q4_funding_uses |
| /operating_model/cells/downside_2027q4_funding_change:downside/id | None | downside_2027q4_funding_change |
| /operating_model/cells/downside_2027q4_funding_change:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_funding_change:downside/label | None | Net modeled funding change |
| /operating_model/cells/downside_2027q4_funding_change:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_funding_change:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_funding_change:downside/value | None | -35.35314999999999 |
| /operating_model/cells/downside_2027q4_funding_sources:downside/basis | None | Transfers from restricted cash, dated financing and conditional disposals stay distinct from revenue. |
| /operating_model/cells/downside_2027q4_funding_sources:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_funding_sources:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q4_funding_sources:downside/formula/refs/0 | None | downside_2027q4_restricted_release |
| /operating_model/cells/downside_2027q4_funding_sources:downside/formula/refs/1 | None | downside_2027q4_external_net_funding |
| /operating_model/cells/downside_2027q4_funding_sources:downside/formula/refs/2 | None | downside_2027q4_asset_sale_cash |
| /operating_model/cells/downside_2027q4_funding_sources:downside/id | None | downside_2027q4_funding_sources |
| /operating_model/cells/downside_2027q4_funding_sources:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_funding_sources:downside/label | None | Funding inflows outside operating model |
| /operating_model/cells/downside_2027q4_funding_sources:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_funding_sources:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_funding_sources:downside/value | None | 140.0 |
| /operating_model/cells/downside_2027q4_funding_uses:downside/basis | None | Principal and extra investing/ownership uses; interest, working capital and capex are already in the existing operating bridge. |
| /operating_model/cells/downside_2027q4_funding_uses:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_funding_uses:downside/formula/op | None | sum |
| /operating_model/cells/downside_2027q4_funding_uses:downside/formula/refs/0 | None | downside_2027q4_principal_cash |
| /operating_model/cells/downside_2027q4_funding_uses:downside/formula/refs/1 | None | downside_2027q4_other_funding_uses |
| /operating_model/cells/downside_2027q4_funding_uses:downside/id | None | downside_2027q4_funding_uses |
| /operating_model/cells/downside_2027q4_funding_uses:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_funding_uses:downside/label | None | Cash uses outside operating model |
| /operating_model/cells/downside_2027q4_funding_uses:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_funding_uses:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_funding_uses:downside/value | None | 54.27625 |
| /operating_model/cells/downside_2027q4_other_funding_uses:downside/basis | None | Explicit desk allowance outside operating cash/capex: includes $10M assumed sale costs only for WULF upside closing. Zero otherwise leaves undisclosed acquisitions, contingent settlements and minority distributions unmodeled, not known absent. Construction reimbursements already included in capex are not deducted again. |
| /operating_model/cells/downside_2027q4_other_funding_uses:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_other_funding_uses:downside/id | None | downside_2027q4_other_funding_uses |
| /operating_model/cells/downside_2027q4_other_funding_uses:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_other_funding_uses:downside/label | None | Additional investing, fees and outside-owner cash uses |
| /operating_model/cells/downside_2027q4_other_funding_uses:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_other_funding_uses:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_other_funding_uses:downside/value | None | 0.0 |
| /operating_model/cells/downside_2027q4_principal_cash:downside/basis | None | Annual disclosed maturity times explicit quarterly allocation. No second deduction of operating coupon costs. |
| /operating_model/cells/downside_2027q4_principal_cash:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_principal_cash:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q4_principal_cash:downside/formula/refs/0 | None | scheduled_2027_principal |
| /operating_model/cells/downside_2027q4_principal_cash:downside/formula/refs/1 | None | downside_2027q4_principal_weight |
| /operating_model/cells/downside_2027q4_principal_cash:downside/id | None | downside_2027q4_principal_cash |
| /operating_model/cells/downside_2027q4_principal_cash:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_principal_cash:downside/label | None | Scheduled principal cash use |
| /operating_model/cells/downside_2027q4_principal_cash:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_principal_cash:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_principal_cash:downside/value | None | 54.27625 |
| /operating_model/cells/downside_2027q4_principal_weight:downside/basis | None | Desk timing of disclosed maturity total; CIFR 2027 is spread evenly as a planning proxy across different project instruments. Annual principal reconciles, but this is not an exact payment calendar. |
| /operating_model/cells/downside_2027q4_principal_weight:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_principal_weight:downside/id | None | downside_2027q4_principal_weight |
| /operating_model/cells/downside_2027q4_principal_weight:downside/kind | None | assumption |
| /operating_model/cells/downside_2027q4_principal_weight:downside/label | None | Share of dated annual principal schedule |
| /operating_model/cells/downside_2027q4_principal_weight:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_principal_weight:downside/unit | None | ratio |
| /operating_model/cells/downside_2027q4_principal_weight:downside/value | None | 0.25 |
| /operating_model/cells/downside_2027q4_restricted_release:downside/basis | None | Modeled construction capex times eligible restricted-funding fraction; existing project cash funds an eligible use, not corporate income. Published cases preserve the noncurrent reserve and never release more than construction spending. |
| /operating_model/cells/downside_2027q4_restricted_release:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_restricted_release:downside/formula/op | None | multiply |
| /operating_model/cells/downside_2027q4_restricted_release:downside/formula/refs/0 | None | downside_2027q4_capex |
| /operating_model/cells/downside_2027q4_restricted_release:downside/formula/refs/1 | None | downside_2027q4_eligible_restricted_fraction |
| /operating_model/cells/downside_2027q4_restricted_release:downside/id | None | downside_2027q4_restricted_release |
| /operating_model/cells/downside_2027q4_restricted_release:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_restricted_release:downside/label | None | Restricted funds used for qualifying spending |
| /operating_model/cells/downside_2027q4_restricted_release:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_restricted_release:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_restricted_release:downside/value | None | 140.0 |
| /operating_model/cells/downside_2027q4_restricted_remaining:downside/basis | None | Opening restricted balance less modeled release. Not automatically available to satisfy other project or parent claims. |
| /operating_model/cells/downside_2027q4_restricted_remaining:downside/case | None | downside |
| /operating_model/cells/downside_2027q4_restricted_remaining:downside/formula/op | None | subtract |
| /operating_model/cells/downside_2027q4_restricted_remaining:downside/formula/refs/0 | None | downside_2027q3_restricted_remaining |
| /operating_model/cells/downside_2027q4_restricted_remaining:downside/formula/refs/1 | None | downside_2027q4_restricted_release |
| /operating_model/cells/downside_2027q4_restricted_remaining:downside/id | None | downside_2027q4_restricted_remaining |
| /operating_model/cells/downside_2027q4_restricted_remaining:downside/kind | None | derived |
| /operating_model/cells/downside_2027q4_restricted_remaining:downside/label | None | Remaining restricted cash in funding bridge |
| /operating_model/cells/downside_2027q4_restricted_remaining:downside/period | None | 2027Q4 |
| /operating_model/cells/downside_2027q4_restricted_remaining:downside/unit | None | USD_millions |
| /operating_model/cells/downside_2027q4_restricted_remaining:downside/value | None | 1977.958 |
| /operating_model/cells/downside_fy2026_funding_balance:downside/basis | None | Year-end stock equals Q4 ending balance; quarterly balances are never summed. |
| /operating_model/cells/downside_fy2026_funding_balance:downside/case | None | downside |
| /operating_model/cells/downside_fy2026_funding_balance:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2026_funding_balance:downside/formula/refs/0 | None | downside_2026q4_funding_balance |
| /operating_model/cells/downside_fy2026_funding_balance:downside/formula/refs/1 | None | funding_zero |
| /operating_model/cells/downside_fy2026_funding_balance:downside/id | None | downside_fy2026_funding_balance |
| /operating_model/cells/downside_fy2026_funding_balance:downside/kind | None | derived |
| /operating_model/cells/downside_fy2026_funding_balance:downside/label | None | Year-end Funding balance under stated assumptions ($M) |
| /operating_model/cells/downside_fy2026_funding_balance:downside/period | None | FY2026 |
| /operating_model/cells/downside_fy2026_funding_balance:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2026_funding_balance:downside/value | None | 271.0310499999999 |
| /operating_model/cells/downside_fy2026_restricted_remaining:downside/basis | None | Year-end stock equals Q4 ending balance; quarterly balances are never summed. |
| /operating_model/cells/downside_fy2026_restricted_remaining:downside/case | None | downside |
| /operating_model/cells/downside_fy2026_restricted_remaining:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2026_restricted_remaining:downside/formula/refs/0 | None | downside_2026q4_restricted_remaining |
| /operating_model/cells/downside_fy2026_restricted_remaining:downside/formula/refs/1 | None | funding_zero |
| /operating_model/cells/downside_fy2026_restricted_remaining:downside/id | None | downside_fy2026_restricted_remaining |
| /operating_model/cells/downside_fy2026_restricted_remaining:downside/kind | None | derived |
| /operating_model/cells/downside_fy2026_restricted_remaining:downside/label | None | Year-end Remaining restricted cash in funding bridge ($M) |
| /operating_model/cells/downside_fy2026_restricted_remaining:downside/period | None | FY2026 |
| /operating_model/cells/downside_fy2026_restricted_remaining:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2026_restricted_remaining:downside/value | None | 2817.958 |
| /operating_model/cells/downside_fy2027_funding_balance:downside/basis | None | Year-end stock equals Q4 ending balance; quarterly balances are never summed. |
| /operating_model/cells/downside_fy2027_funding_balance:downside/case | None | downside |
| /operating_model/cells/downside_fy2027_funding_balance:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2027_funding_balance:downside/formula/refs/0 | None | downside_2027q4_funding_balance |
| /operating_model/cells/downside_fy2027_funding_balance:downside/formula/refs/1 | None | funding_zero |
| /operating_model/cells/downside_fy2027_funding_balance:downside/id | None | downside_fy2027_funding_balance |
| /operating_model/cells/downside_fy2027_funding_balance:downside/kind | None | derived |
| /operating_model/cells/downside_fy2027_funding_balance:downside/label | None | Year-end Funding balance under stated assumptions ($M) |
| /operating_model/cells/downside_fy2027_funding_balance:downside/period | None | FY2027 |
| /operating_model/cells/downside_fy2027_funding_balance:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2027_funding_balance:downside/value | None | -209.15644000000012 |
| /operating_model/cells/downside_fy2027_restricted_remaining:downside/basis | None | Year-end stock equals Q4 ending balance; quarterly balances are never summed. |
| /operating_model/cells/downside_fy2027_restricted_remaining:downside/case | None | downside |
| /operating_model/cells/downside_fy2027_restricted_remaining:downside/formula/op | None | sum |
| /operating_model/cells/downside_fy2027_restricted_remaining:downside/formula/refs/0 | None | downside_2027q4_restricted_remaining |
| /operating_model/cells/downside_fy2027_restricted_remaining:downside/formula/refs/1 | None | funding_zero |
| /operating_model/cells/downside_fy2027_restricted_remaining:downside/id | None | downside_fy2027_restricted_remaining |
| /operating_model/cells/downside_fy2027_restricted_remaining:downside/kind | None | derived |
| /operating_model/cells/downside_fy2027_restricted_remaining:downside/label | None | Year-end Remaining restricted cash in funding bridge ($M) |
| /operating_model/cells/downside_fy2027_restricted_remaining:downside/period | None | FY2027 |
| /operating_model/cells/downside_fy2027_restricted_remaining:downside/unit | None | USD_millions |
| /operating_model/cells/downside_fy2027_restricted_remaining:downside/value | None | 1977.958 |
| /operating_model/cells/funding_zero:shared/basis | None | Arithmetic zero; not a reported missing cash flow. |
| /operating_model/cells/funding_zero:shared/case | None | shared |
| /operating_model/cells/funding_zero:shared/id | None | funding_zero |
| /operating_model/cells/funding_zero:shared/kind | None | assumption |
| /operating_model/cells/funding_zero:shared/label | None | No additional cash movement |
| /operating_model/cells/funding_zero:shared/period | None | Model |
| /operating_model/cells/funding_zero:shared/unit | None | USD_millions |
| /operating_model/cells/funding_zero:shared/value | None | 0.0 |
| /operating_model/cells/google_minimum_value:shared/basis | None | Contractual minimum before the exercise period: a shortfall may require extra shares and/or cash. No current liability settlement forecast is inferred. |
| /operating_model/cells/google_minimum_value:shared/case | None | shared |
| /operating_model/cells/google_minimum_value:shared/id | None | google_minimum_value |
| /operating_model/cells/google_minimum_value:shared/kind | None | reported |
| /operating_model/cells/google_minimum_value:shared/label | None | Google warrant minimum-value condition |
| /operating_model/cells/google_minimum_value:shared/period | None | Lease commencement |
| /operating_model/cells/google_minimum_value:shared/source_date | None | 2026-08-04 |
| /operating_model/cells/google_minimum_value:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1819989/000181998926000041/cifr-20260630.htm |
| /operating_model/cells/google_minimum_value:shared/unit | None | USD_millions |
| /operating_model/cells/google_minimum_value:shared/value | None | 430.0 |
| /operating_model/cells/june_common_shares:shared/basis | None | Point-in-time outstanding common shares, excluding treasury stock; not weighted-average EPS shares. |
| /operating_model/cells/june_common_shares:shared/case | None | shared |
| /operating_model/cells/june_common_shares:shared/id | None | june_common_shares |
| /operating_model/cells/june_common_shares:shared/kind | None | reported |
| /operating_model/cells/june_common_shares:shared/label | None | June common shares outstanding |
| /operating_model/cells/june_common_shares:shared/period | None | 2026Q2 |
| /operating_model/cells/june_common_shares:shared/source_date | None | 2026-08-04 |
| /operating_model/cells/june_common_shares:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1819989/000181998926000041/cifr-20260630.htm |
| /operating_model/cells/june_common_shares:shared/unit | None | shares_millions |
| /operating_model/cells/june_common_shares:shared/value | None | 414.253564 |
| /operating_model/cells/june_conversion_shares:shared/basis | None | EPS note excluded instruments. Settlement, conversion terms and future exercise determine actual dilution; not a forward diluted denominator. |
| /operating_model/cells/june_conversion_shares:shared/case | None | shared |
| /operating_model/cells/june_conversion_shares:shared/id | None | june_conversion_shares |
| /operating_model/cells/june_conversion_shares:shared/kind | None | reported |
| /operating_model/cells/june_conversion_shares:shared/label | None | June antidilutive note-conversion shares |
| /operating_model/cells/june_conversion_shares:shared/period | None | 2026Q2 |
| /operating_model/cells/june_conversion_shares:shared/source_date | None | 2026-08-04 |
| /operating_model/cells/june_conversion_shares:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1819989/000181998926000041/cifr-20260630.htm |
| /operating_model/cells/june_conversion_shares:shared/unit | None | shares_millions |
| /operating_model/cells/june_conversion_shares:shared/value | None | 161.930746 |
| /operating_model/cells/june_google_warrants:shared/basis | None | Warrants at $0.01 exercise price. Additional shares and/or cash may be owed under the $430M minimum-value provision before exercise commences. |
| /operating_model/cells/june_google_warrants:shared/case | None | shared |
| /operating_model/cells/june_google_warrants:shared/id | None | june_google_warrants |
| /operating_model/cells/june_google_warrants:shared/kind | None | reported |
| /operating_model/cells/june_google_warrants:shared/label | None | June Google warrant shares |
| /operating_model/cells/june_google_warrants:shared/period | None | 2026Q2 |
| /operating_model/cells/june_google_warrants:shared/source_date | None | 2026-08-04 |
| /operating_model/cells/june_google_warrants:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1819989/000181998926000041/cifr-20260630.htm |
| /operating_model/cells/june_google_warrants:shared/unit | None | shares_millions |
| /operating_model/cells/june_google_warrants:shared/value | None | 24.178576 |
| /operating_model/cells/june_potential_claims:shared/basis | None | Sum of separately disclosed excluded instruments; no probability or GAAP dilution claim. |
| /operating_model/cells/june_potential_claims:shared/case | None | shared |
| /operating_model/cells/june_potential_claims:shared/formula/op | None | sum |
| /operating_model/cells/june_potential_claims:shared/formula/refs/0 | None | june_conversion_shares |
| /operating_model/cells/june_potential_claims:shared/formula/refs/1 | None | june_google_warrants |
| /operating_model/cells/june_potential_claims:shared/formula/refs/2 | None | june_unvested_awards |
| /operating_model/cells/june_potential_claims:shared/id | None | june_potential_claims |
| /operating_model/cells/june_potential_claims:shared/kind | None | derived |
| /operating_model/cells/june_potential_claims:shared/label | None | June disclosed potential additional shares |
| /operating_model/cells/june_potential_claims:shared/period | None | 2026Q2 |
| /operating_model/cells/june_potential_claims:shared/unit | None | shares_millions |
| /operating_model/cells/june_potential_claims:shared/value | None | 204.702946 |
| /operating_model/cells/june_unvested_awards:shared/basis | None | EPS note excluded unvested awards; vesting and performance conditions apply. |
| /operating_model/cells/june_unvested_awards:shared/case | None | shared |
| /operating_model/cells/june_unvested_awards:shared/id | None | june_unvested_awards |
| /operating_model/cells/june_unvested_awards:shared/kind | None | reported |
| /operating_model/cells/june_unvested_awards:shared/label | None | June unvested RSU and PSU shares |
| /operating_model/cells/june_unvested_awards:shared/period | None | 2026Q2 |
| /operating_model/cells/june_unvested_awards:shared/source_date | None | 2026-08-04 |
| /operating_model/cells/june_unvested_awards:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1819989/000181998926000041/cifr-20260630.htm |
| /operating_model/cells/june_unvested_awards:shared/unit | None | shares_millions |
| /operating_model/cells/june_unvested_awards:shared/value | None | 18.593624 |
| /operating_model/cells/scheduled_2027_principal:shared/basis | None | 10-Q debt maturity table; annual contractual total, not a quarterly payment forecast. |
| /operating_model/cells/scheduled_2027_principal:shared/case | None | shared |
| /operating_model/cells/scheduled_2027_principal:shared/id | None | scheduled_2027_principal |
| /operating_model/cells/scheduled_2027_principal:shared/kind | None | reported |
| /operating_model/cells/scheduled_2027_principal:shared/label | None | Scheduled principal: 2027 |
| /operating_model/cells/scheduled_2027_principal:shared/period | None | FY2027 |
| /operating_model/cells/scheduled_2027_principal:shared/source_date | None | 2026-08-04 |
| /operating_model/cells/scheduled_2027_principal:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1819989/000181998926000041/cifr-20260630.htm |
| /operating_model/cells/scheduled_2027_principal:shared/unit | None | USD_millions |
| /operating_model/cells/scheduled_2027_principal:shared/value | None | 217.105 |
| /operating_model/cells/scheduled_h2_principal:shared/basis | None | 10-Q debt maturity table; excludes future borrowing, early conversion settlement and lease principal. |
| /operating_model/cells/scheduled_h2_principal:shared/case | None | shared |
| /operating_model/cells/scheduled_h2_principal:shared/id | None | scheduled_h2_principal |
| /operating_model/cells/scheduled_h2_principal:shared/kind | None | reported |
| /operating_model/cells/scheduled_h2_principal:shared/label | None | Scheduled principal: remainder of 2026 |
| /operating_model/cells/scheduled_h2_principal:shared/period | None | H2 2026 |
| /operating_model/cells/scheduled_h2_principal:shared/source_date | None | 2026-08-04 |
| /operating_model/cells/scheduled_h2_principal:shared/source_url | None | https://www.sec.gov/Archives/edgar/data/1819989/000181998926000041/cifr-20260630.htm |
| /operating_model/cells/scheduled_h2_principal:shared/unit | None | USD_millions |
| /operating_model/cells/scheduled_h2_principal:shared/value | None | 18.476 |
| /operating_model/cells/upside_2026q3_asset_sale_cash:upside/basis | None | No other asset sales assumed; no sale revenue is counted as recurring operating cash. |
| /operating_model/cells/upside_2026q3_asset_sale_cash:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_asset_sale_cash:upside/id | None | upside_2026q3_asset_sale_cash |
| /operating_model/cells/upside_2026q3_asset_sale_cash:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_asset_sale_cash:upside/label | None | Asset-sale cash assumed |
| /operating_model/cells/upside_2026q3_asset_sale_cash:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_asset_sale_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_asset_sale_cash:upside/value | None | 0.0 |
| /operating_model/cells/upside_2026q3_cash_with_funding:upside/basis | None | Combines the operating model with explicit financing/restricted-fund assumptions once. |
| /operating_model/cells/upside_2026q3_cash_with_funding:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_cash_with_funding:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q3_cash_with_funding:upside/formula/refs/0 | None | upside_2026q3_cash_after_capex |
| /operating_model/cells/upside_2026q3_cash_with_funding:upside/formula/refs/1 | None | upside_2026q3_funding_sources |
| /operating_model/cells/upside_2026q3_cash_with_funding:upside/id | None | upside_2026q3_cash_with_funding |
| /operating_model/cells/upside_2026q3_cash_with_funding:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_cash_with_funding:upside/label | None | Operating cash after capex plus funding |
| /operating_model/cells/upside_2026q3_cash_with_funding:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_cash_with_funding:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_cash_with_funding:upside/value | None | -79.25499000000002 |
| /operating_model/cells/upside_2026q3_eligible_restricted_fraction:upside/basis | None | Desk fraction of modeled construction cash paid from existing eligible project funds. Must be between zero and one, cannot exceed available restricted funds, and never releases noncurrent reserves. |
| /operating_model/cells/upside_2026q3_eligible_restricted_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_eligible_restricted_fraction:upside/id | None | upside_2026q3_eligible_restricted_fraction |
| /operating_model/cells/upside_2026q3_eligible_restricted_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_eligible_restricted_fraction:upside/label | None | Construction spending eligible for restricted funding |
| /operating_model/cells/upside_2026q3_eligible_restricted_fraction:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_eligible_restricted_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q3_eligible_restricted_fraction:upside/value | None | 1.0 |
| /operating_model/cells/upside_2026q3_external_net_funding:upside/basis | None | No unspecified new funding assumed. A negative funding balance identifies financing or spending changes still needed; it is not a forecast negative bank balance. |
| /operating_model/cells/upside_2026q3_external_net_funding:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_external_net_funding:upside/id | None | upside_2026q3_external_net_funding |
| /operating_model/cells/upside_2026q3_external_net_funding:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_external_net_funding:upside/label | None | Additional net financing assumed |
| /operating_model/cells/upside_2026q3_external_net_funding:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_external_net_funding:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_external_net_funding:upside/value | None | 0.0 |
| /operating_model/cells/upside_2026q3_funding_balance:upside/basis | None | June unrestricted-cash baseline rolled through operating, capex and explicit funding assumptions. Negative means an unfilled funding requirement. This is not current cash, bank availability, owner distributions or a fully funded claim. |
| /operating_model/cells/upside_2026q3_funding_balance:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_funding_balance:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q3_funding_balance:upside/formula/refs/0 | None | h1_cash |
| /operating_model/cells/upside_2026q3_funding_balance:upside/formula/refs/1 | None | upside_2026q3_funding_change |
| /operating_model/cells/upside_2026q3_funding_balance:upside/id | None | upside_2026q3_funding_balance |
| /operating_model/cells/upside_2026q3_funding_balance:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_funding_balance:upside/label | None | Funding balance under stated assumptions |
| /operating_model/cells/upside_2026q3_funding_balance:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_funding_balance:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_funding_balance:upside/value | None | 752.5740099999999 |
| /operating_model/cells/upside_2026q3_funding_change:upside/basis | None | Funding inflows less explicit cash uses; not a full GAAP cash-flow statement. |
| /operating_model/cells/upside_2026q3_funding_change:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_funding_change:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2026q3_funding_change:upside/formula/refs/0 | None | upside_2026q3_cash_with_funding |
| /operating_model/cells/upside_2026q3_funding_change:upside/formula/refs/1 | None | upside_2026q3_funding_uses |
| /operating_model/cells/upside_2026q3_funding_change:upside/id | None | upside_2026q3_funding_change |
| /operating_model/cells/upside_2026q3_funding_change:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_funding_change:upside/label | None | Net modeled funding change |
| /operating_model/cells/upside_2026q3_funding_change:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_funding_change:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_funding_change:upside/value | None | -79.25499000000002 |
| /operating_model/cells/upside_2026q3_funding_sources:upside/basis | None | Transfers from restricted cash, dated financing and conditional disposals stay distinct from revenue. |
| /operating_model/cells/upside_2026q3_funding_sources:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_funding_sources:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q3_funding_sources:upside/formula/refs/0 | None | upside_2026q3_restricted_release |
| /operating_model/cells/upside_2026q3_funding_sources:upside/formula/refs/1 | None | upside_2026q3_external_net_funding |
| /operating_model/cells/upside_2026q3_funding_sources:upside/formula/refs/2 | None | upside_2026q3_asset_sale_cash |
| /operating_model/cells/upside_2026q3_funding_sources:upside/id | None | upside_2026q3_funding_sources |
| /operating_model/cells/upside_2026q3_funding_sources:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_funding_sources:upside/label | None | Funding inflows outside operating model |
| /operating_model/cells/upside_2026q3_funding_sources:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_funding_sources:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_funding_sources:upside/value | None | 550.0 |
| /operating_model/cells/upside_2026q3_funding_uses:upside/basis | None | Principal and extra investing/ownership uses; interest, working capital and capex are already in the existing operating bridge. |
| /operating_model/cells/upside_2026q3_funding_uses:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_funding_uses:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q3_funding_uses:upside/formula/refs/0 | None | upside_2026q3_principal_cash |
| /operating_model/cells/upside_2026q3_funding_uses:upside/formula/refs/1 | None | upside_2026q3_other_funding_uses |
| /operating_model/cells/upside_2026q3_funding_uses:upside/id | None | upside_2026q3_funding_uses |
| /operating_model/cells/upside_2026q3_funding_uses:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_funding_uses:upside/label | None | Cash uses outside operating model |
| /operating_model/cells/upside_2026q3_funding_uses:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_funding_uses:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_funding_uses:upside/value | None | 0.0 |
| /operating_model/cells/upside_2026q3_other_funding_uses:upside/basis | None | Explicit desk allowance outside operating cash/capex: includes $10M assumed sale costs only for WULF upside closing. Zero otherwise leaves undisclosed acquisitions, contingent settlements and minority distributions unmodeled, not known absent. Construction reimbursements already included in capex are not deducted again. |
| /operating_model/cells/upside_2026q3_other_funding_uses:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_other_funding_uses:upside/id | None | upside_2026q3_other_funding_uses |
| /operating_model/cells/upside_2026q3_other_funding_uses:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_other_funding_uses:upside/label | None | Additional investing, fees and outside-owner cash uses |
| /operating_model/cells/upside_2026q3_other_funding_uses:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_other_funding_uses:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_other_funding_uses:upside/value | None | 0.0 |
| /operating_model/cells/upside_2026q3_principal_cash:upside/basis | None | Annual disclosed maturity times explicit quarterly allocation. No second deduction of operating coupon costs. |
| /operating_model/cells/upside_2026q3_principal_cash:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_principal_cash:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q3_principal_cash:upside/formula/refs/0 | None | scheduled_h2_principal |
| /operating_model/cells/upside_2026q3_principal_cash:upside/formula/refs/1 | None | upside_2026q3_principal_weight |
| /operating_model/cells/upside_2026q3_principal_cash:upside/id | None | upside_2026q3_principal_cash |
| /operating_model/cells/upside_2026q3_principal_cash:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_principal_cash:upside/label | None | Scheduled principal cash use |
| /operating_model/cells/upside_2026q3_principal_cash:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_principal_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_principal_cash:upside/value | None | 0.0 |
| /operating_model/cells/upside_2026q3_principal_weight:upside/basis | None | Desk timing of disclosed maturity total; CIFR 2027 is spread evenly as a planning proxy across different project instruments. Annual principal reconciles, but this is not an exact payment calendar. |
| /operating_model/cells/upside_2026q3_principal_weight:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_principal_weight:upside/id | None | upside_2026q3_principal_weight |
| /operating_model/cells/upside_2026q3_principal_weight:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q3_principal_weight:upside/label | None | Share of dated annual principal schedule |
| /operating_model/cells/upside_2026q3_principal_weight:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_principal_weight:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q3_principal_weight:upside/value | None | 0.0 |
| /operating_model/cells/upside_2026q3_restricted_release:upside/basis | None | Modeled construction capex times eligible restricted-funding fraction; existing project cash funds an eligible use, not corporate income. Published cases preserve the noncurrent reserve and never release more than construction spending. |
| /operating_model/cells/upside_2026q3_restricted_release:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_restricted_release:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q3_restricted_release:upside/formula/refs/0 | None | upside_2026q3_capex |
| /operating_model/cells/upside_2026q3_restricted_release:upside/formula/refs/1 | None | upside_2026q3_eligible_restricted_fraction |
| /operating_model/cells/upside_2026q3_restricted_release:upside/id | None | upside_2026q3_restricted_release |
| /operating_model/cells/upside_2026q3_restricted_release:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_restricted_release:upside/label | None | Restricted funds used for qualifying spending |
| /operating_model/cells/upside_2026q3_restricted_release:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_restricted_release:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_restricted_release:upside/value | None | 550.0 |
| /operating_model/cells/upside_2026q3_restricted_remaining:upside/basis | None | Opening restricted balance less modeled release. Not automatically available to satisfy other project or parent claims. |
| /operating_model/cells/upside_2026q3_restricted_remaining:upside/case | None | upside |
| /operating_model/cells/upside_2026q3_restricted_remaining:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2026q3_restricted_remaining:upside/formula/refs/0 | None | restricted_cash |
| /operating_model/cells/upside_2026q3_restricted_remaining:upside/formula/refs/1 | None | upside_2026q3_restricted_release |
| /operating_model/cells/upside_2026q3_restricted_remaining:upside/id | None | upside_2026q3_restricted_remaining |
| /operating_model/cells/upside_2026q3_restricted_remaining:upside/kind | None | derived |
| /operating_model/cells/upside_2026q3_restricted_remaining:upside/label | None | Remaining restricted cash in funding bridge |
| /operating_model/cells/upside_2026q3_restricted_remaining:upside/period | None | 2026Q3 |
| /operating_model/cells/upside_2026q3_restricted_remaining:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q3_restricted_remaining:upside/value | None | 3177.958 |
| /operating_model/cells/upside_2026q4_asset_sale_cash:upside/basis | None | No other asset sales assumed; no sale revenue is counted as recurring operating cash. |
| /operating_model/cells/upside_2026q4_asset_sale_cash:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_asset_sale_cash:upside/id | None | upside_2026q4_asset_sale_cash |
| /operating_model/cells/upside_2026q4_asset_sale_cash:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_asset_sale_cash:upside/label | None | Asset-sale cash assumed |
| /operating_model/cells/upside_2026q4_asset_sale_cash:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_asset_sale_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_asset_sale_cash:upside/value | None | 0.0 |
| /operating_model/cells/upside_2026q4_cash_with_funding:upside/basis | None | Combines the operating model with explicit financing/restricted-fund assumptions once. |
| /operating_model/cells/upside_2026q4_cash_with_funding:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_cash_with_funding:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q4_cash_with_funding:upside/formula/refs/0 | None | upside_2026q4_cash_after_capex |
| /operating_model/cells/upside_2026q4_cash_with_funding:upside/formula/refs/1 | None | upside_2026q4_funding_sources |
| /operating_model/cells/upside_2026q4_cash_with_funding:upside/id | None | upside_2026q4_cash_with_funding |
| /operating_model/cells/upside_2026q4_cash_with_funding:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_cash_with_funding:upside/label | None | Operating cash after capex plus funding |
| /operating_model/cells/upside_2026q4_cash_with_funding:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_cash_with_funding:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_cash_with_funding:upside/value | None | -1.848989999999958 |
| /operating_model/cells/upside_2026q4_eligible_restricted_fraction:upside/basis | None | Desk fraction of modeled construction cash paid from existing eligible project funds. Must be between zero and one, cannot exceed available restricted funds, and never releases noncurrent reserves. |
| /operating_model/cells/upside_2026q4_eligible_restricted_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_eligible_restricted_fraction:upside/id | None | upside_2026q4_eligible_restricted_fraction |
| /operating_model/cells/upside_2026q4_eligible_restricted_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_eligible_restricted_fraction:upside/label | None | Construction spending eligible for restricted funding |
| /operating_model/cells/upside_2026q4_eligible_restricted_fraction:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_eligible_restricted_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q4_eligible_restricted_fraction:upside/value | None | 1.0 |
| /operating_model/cells/upside_2026q4_external_net_funding:upside/basis | None | No unspecified new funding assumed. A negative funding balance identifies financing or spending changes still needed; it is not a forecast negative bank balance. |
| /operating_model/cells/upside_2026q4_external_net_funding:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_external_net_funding:upside/id | None | upside_2026q4_external_net_funding |
| /operating_model/cells/upside_2026q4_external_net_funding:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_external_net_funding:upside/label | None | Additional net financing assumed |
| /operating_model/cells/upside_2026q4_external_net_funding:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_external_net_funding:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_external_net_funding:upside/value | None | 0.0 |
| /operating_model/cells/upside_2026q4_funding_balance:upside/basis | None | June unrestricted-cash baseline rolled through operating, capex and explicit funding assumptions. Negative means an unfilled funding requirement. This is not current cash, bank availability, owner distributions or a fully funded claim. |
| /operating_model/cells/upside_2026q4_funding_balance:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_funding_balance:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q4_funding_balance:upside/formula/refs/0 | None | upside_2026q3_funding_balance |
| /operating_model/cells/upside_2026q4_funding_balance:upside/formula/refs/1 | None | upside_2026q4_funding_change |
| /operating_model/cells/upside_2026q4_funding_balance:upside/id | None | upside_2026q4_funding_balance |
| /operating_model/cells/upside_2026q4_funding_balance:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_funding_balance:upside/label | None | Funding balance under stated assumptions |
| /operating_model/cells/upside_2026q4_funding_balance:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_funding_balance:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_funding_balance:upside/value | None | 732.24902 |
| /operating_model/cells/upside_2026q4_funding_change:upside/basis | None | Funding inflows less explicit cash uses; not a full GAAP cash-flow statement. |
| /operating_model/cells/upside_2026q4_funding_change:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_funding_change:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2026q4_funding_change:upside/formula/refs/0 | None | upside_2026q4_cash_with_funding |
| /operating_model/cells/upside_2026q4_funding_change:upside/formula/refs/1 | None | upside_2026q4_funding_uses |
| /operating_model/cells/upside_2026q4_funding_change:upside/id | None | upside_2026q4_funding_change |
| /operating_model/cells/upside_2026q4_funding_change:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_funding_change:upside/label | None | Net modeled funding change |
| /operating_model/cells/upside_2026q4_funding_change:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_funding_change:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_funding_change:upside/value | None | -20.324989999999957 |
| /operating_model/cells/upside_2026q4_funding_sources:upside/basis | None | Transfers from restricted cash, dated financing and conditional disposals stay distinct from revenue. |
| /operating_model/cells/upside_2026q4_funding_sources:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_funding_sources:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q4_funding_sources:upside/formula/refs/0 | None | upside_2026q4_restricted_release |
| /operating_model/cells/upside_2026q4_funding_sources:upside/formula/refs/1 | None | upside_2026q4_external_net_funding |
| /operating_model/cells/upside_2026q4_funding_sources:upside/formula/refs/2 | None | upside_2026q4_asset_sale_cash |
| /operating_model/cells/upside_2026q4_funding_sources:upside/id | None | upside_2026q4_funding_sources |
| /operating_model/cells/upside_2026q4_funding_sources:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_funding_sources:upside/label | None | Funding inflows outside operating model |
| /operating_model/cells/upside_2026q4_funding_sources:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_funding_sources:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_funding_sources:upside/value | None | 550.0 |
| /operating_model/cells/upside_2026q4_funding_uses:upside/basis | None | Principal and extra investing/ownership uses; interest, working capital and capex are already in the existing operating bridge. |
| /operating_model/cells/upside_2026q4_funding_uses:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_funding_uses:upside/formula/op | None | sum |
| /operating_model/cells/upside_2026q4_funding_uses:upside/formula/refs/0 | None | upside_2026q4_principal_cash |
| /operating_model/cells/upside_2026q4_funding_uses:upside/formula/refs/1 | None | upside_2026q4_other_funding_uses |
| /operating_model/cells/upside_2026q4_funding_uses:upside/id | None | upside_2026q4_funding_uses |
| /operating_model/cells/upside_2026q4_funding_uses:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_funding_uses:upside/label | None | Cash uses outside operating model |
| /operating_model/cells/upside_2026q4_funding_uses:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_funding_uses:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_funding_uses:upside/value | None | 18.476 |
| /operating_model/cells/upside_2026q4_other_funding_uses:upside/basis | None | Explicit desk allowance outside operating cash/capex: includes $10M assumed sale costs only for WULF upside closing. Zero otherwise leaves undisclosed acquisitions, contingent settlements and minority distributions unmodeled, not known absent. Construction reimbursements already included in capex are not deducted again. |
| /operating_model/cells/upside_2026q4_other_funding_uses:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_other_funding_uses:upside/id | None | upside_2026q4_other_funding_uses |
| /operating_model/cells/upside_2026q4_other_funding_uses:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_other_funding_uses:upside/label | None | Additional investing, fees and outside-owner cash uses |
| /operating_model/cells/upside_2026q4_other_funding_uses:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_other_funding_uses:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_other_funding_uses:upside/value | None | 0.0 |
| /operating_model/cells/upside_2026q4_principal_cash:upside/basis | None | Annual disclosed maturity times explicit quarterly allocation. No second deduction of operating coupon costs. |
| /operating_model/cells/upside_2026q4_principal_cash:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_principal_cash:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q4_principal_cash:upside/formula/refs/0 | None | scheduled_h2_principal |
| /operating_model/cells/upside_2026q4_principal_cash:upside/formula/refs/1 | None | upside_2026q4_principal_weight |
| /operating_model/cells/upside_2026q4_principal_cash:upside/id | None | upside_2026q4_principal_cash |
| /operating_model/cells/upside_2026q4_principal_cash:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_principal_cash:upside/label | None | Scheduled principal cash use |
| /operating_model/cells/upside_2026q4_principal_cash:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_principal_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_principal_cash:upside/value | None | 18.476 |
| /operating_model/cells/upside_2026q4_principal_weight:upside/basis | None | Desk timing of disclosed maturity total; CIFR 2027 is spread evenly as a planning proxy across different project instruments. Annual principal reconciles, but this is not an exact payment calendar. |
| /operating_model/cells/upside_2026q4_principal_weight:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_principal_weight:upside/id | None | upside_2026q4_principal_weight |
| /operating_model/cells/upside_2026q4_principal_weight:upside/kind | None | assumption |
| /operating_model/cells/upside_2026q4_principal_weight:upside/label | None | Share of dated annual principal schedule |
| /operating_model/cells/upside_2026q4_principal_weight:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_principal_weight:upside/unit | None | ratio |
| /operating_model/cells/upside_2026q4_principal_weight:upside/value | None | 1.0 |
| /operating_model/cells/upside_2026q4_restricted_release:upside/basis | None | Modeled construction capex times eligible restricted-funding fraction; existing project cash funds an eligible use, not corporate income. Published cases preserve the noncurrent reserve and never release more than construction spending. |
| /operating_model/cells/upside_2026q4_restricted_release:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_restricted_release:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2026q4_restricted_release:upside/formula/refs/0 | None | upside_2026q4_capex |
| /operating_model/cells/upside_2026q4_restricted_release:upside/formula/refs/1 | None | upside_2026q4_eligible_restricted_fraction |
| /operating_model/cells/upside_2026q4_restricted_release:upside/id | None | upside_2026q4_restricted_release |
| /operating_model/cells/upside_2026q4_restricted_release:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_restricted_release:upside/label | None | Restricted funds used for qualifying spending |
| /operating_model/cells/upside_2026q4_restricted_release:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_restricted_release:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_restricted_release:upside/value | None | 550.0 |
| /operating_model/cells/upside_2026q4_restricted_remaining:upside/basis | None | Opening restricted balance less modeled release. Not automatically available to satisfy other project or parent claims. |
| /operating_model/cells/upside_2026q4_restricted_remaining:upside/case | None | upside |
| /operating_model/cells/upside_2026q4_restricted_remaining:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2026q4_restricted_remaining:upside/formula/refs/0 | None | upside_2026q3_restricted_remaining |
| /operating_model/cells/upside_2026q4_restricted_remaining:upside/formula/refs/1 | None | upside_2026q4_restricted_release |
| /operating_model/cells/upside_2026q4_restricted_remaining:upside/id | None | upside_2026q4_restricted_remaining |
| /operating_model/cells/upside_2026q4_restricted_remaining:upside/kind | None | derived |
| /operating_model/cells/upside_2026q4_restricted_remaining:upside/label | None | Remaining restricted cash in funding bridge |
| /operating_model/cells/upside_2026q4_restricted_remaining:upside/period | None | 2026Q4 |
| /operating_model/cells/upside_2026q4_restricted_remaining:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2026q4_restricted_remaining:upside/value | None | 2627.958 |
| /operating_model/cells/upside_2027q1_asset_sale_cash:upside/basis | None | No other asset sales assumed; no sale revenue is counted as recurring operating cash. |
| /operating_model/cells/upside_2027q1_asset_sale_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_asset_sale_cash:upside/id | None | upside_2027q1_asset_sale_cash |
| /operating_model/cells/upside_2027q1_asset_sale_cash:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_asset_sale_cash:upside/label | None | Asset-sale cash assumed |
| /operating_model/cells/upside_2027q1_asset_sale_cash:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_asset_sale_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_asset_sale_cash:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q1_cash_with_funding:upside/basis | None | Combines the operating model with explicit financing/restricted-fund assumptions once. |
| /operating_model/cells/upside_2027q1_cash_with_funding:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_cash_with_funding:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q1_cash_with_funding:upside/formula/refs/0 | None | upside_2027q1_cash_after_capex |
| /operating_model/cells/upside_2027q1_cash_with_funding:upside/formula/refs/1 | None | upside_2027q1_funding_sources |
| /operating_model/cells/upside_2027q1_cash_with_funding:upside/id | None | upside_2027q1_cash_with_funding |
| /operating_model/cells/upside_2027q1_cash_with_funding:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_cash_with_funding:upside/label | None | Operating cash after capex plus funding |
| /operating_model/cells/upside_2027q1_cash_with_funding:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_cash_with_funding:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_cash_with_funding:upside/value | None | 49.342269999999985 |
| /operating_model/cells/upside_2027q1_eligible_restricted_fraction:upside/basis | None | Desk fraction of modeled construction cash paid from existing eligible project funds. Must be between zero and one, cannot exceed available restricted funds, and never releases noncurrent reserves. |
| /operating_model/cells/upside_2027q1_eligible_restricted_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_eligible_restricted_fraction:upside/id | None | upside_2027q1_eligible_restricted_fraction |
| /operating_model/cells/upside_2027q1_eligible_restricted_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_eligible_restricted_fraction:upside/label | None | Construction spending eligible for restricted funding |
| /operating_model/cells/upside_2027q1_eligible_restricted_fraction:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_eligible_restricted_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q1_eligible_restricted_fraction:upside/value | None | 1.0 |
| /operating_model/cells/upside_2027q1_external_net_funding:upside/basis | None | No unspecified new funding assumed. A negative funding balance identifies financing or spending changes still needed; it is not a forecast negative bank balance. |
| /operating_model/cells/upside_2027q1_external_net_funding:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_external_net_funding:upside/id | None | upside_2027q1_external_net_funding |
| /operating_model/cells/upside_2027q1_external_net_funding:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_external_net_funding:upside/label | None | Additional net financing assumed |
| /operating_model/cells/upside_2027q1_external_net_funding:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_external_net_funding:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_external_net_funding:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q1_funding_balance:upside/basis | None | June unrestricted-cash baseline rolled through operating, capex and explicit funding assumptions. Negative means an unfilled funding requirement. This is not current cash, bank availability, owner distributions or a fully funded claim. |
| /operating_model/cells/upside_2027q1_funding_balance:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_funding_balance:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q1_funding_balance:upside/formula/refs/0 | None | upside_2026q4_funding_balance |
| /operating_model/cells/upside_2027q1_funding_balance:upside/formula/refs/1 | None | upside_2027q1_funding_change |
| /operating_model/cells/upside_2027q1_funding_balance:upside/id | None | upside_2027q1_funding_balance |
| /operating_model/cells/upside_2027q1_funding_balance:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_funding_balance:upside/label | None | Funding balance under stated assumptions |
| /operating_model/cells/upside_2027q1_funding_balance:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_funding_balance:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_funding_balance:upside/value | None | 727.31504 |
| /operating_model/cells/upside_2027q1_funding_change:upside/basis | None | Funding inflows less explicit cash uses; not a full GAAP cash-flow statement. |
| /operating_model/cells/upside_2027q1_funding_change:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_funding_change:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q1_funding_change:upside/formula/refs/0 | None | upside_2027q1_cash_with_funding |
| /operating_model/cells/upside_2027q1_funding_change:upside/formula/refs/1 | None | upside_2027q1_funding_uses |
| /operating_model/cells/upside_2027q1_funding_change:upside/id | None | upside_2027q1_funding_change |
| /operating_model/cells/upside_2027q1_funding_change:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_funding_change:upside/label | None | Net modeled funding change |
| /operating_model/cells/upside_2027q1_funding_change:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_funding_change:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_funding_change:upside/value | None | -4.9339800000000125 |
| /operating_model/cells/upside_2027q1_funding_sources:upside/basis | None | Transfers from restricted cash, dated financing and conditional disposals stay distinct from revenue. |
| /operating_model/cells/upside_2027q1_funding_sources:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_funding_sources:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q1_funding_sources:upside/formula/refs/0 | None | upside_2027q1_restricted_release |
| /operating_model/cells/upside_2027q1_funding_sources:upside/formula/refs/1 | None | upside_2027q1_external_net_funding |
| /operating_model/cells/upside_2027q1_funding_sources:upside/formula/refs/2 | None | upside_2027q1_asset_sale_cash |
| /operating_model/cells/upside_2027q1_funding_sources:upside/id | None | upside_2027q1_funding_sources |
| /operating_model/cells/upside_2027q1_funding_sources:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_funding_sources:upside/label | None | Funding inflows outside operating model |
| /operating_model/cells/upside_2027q1_funding_sources:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_funding_sources:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_funding_sources:upside/value | None | 300.0 |
| /operating_model/cells/upside_2027q1_funding_uses:upside/basis | None | Principal and extra investing/ownership uses; interest, working capital and capex are already in the existing operating bridge. |
| /operating_model/cells/upside_2027q1_funding_uses:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_funding_uses:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q1_funding_uses:upside/formula/refs/0 | None | upside_2027q1_principal_cash |
| /operating_model/cells/upside_2027q1_funding_uses:upside/formula/refs/1 | None | upside_2027q1_other_funding_uses |
| /operating_model/cells/upside_2027q1_funding_uses:upside/id | None | upside_2027q1_funding_uses |
| /operating_model/cells/upside_2027q1_funding_uses:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_funding_uses:upside/label | None | Cash uses outside operating model |
| /operating_model/cells/upside_2027q1_funding_uses:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_funding_uses:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_funding_uses:upside/value | None | 54.27625 |
| /operating_model/cells/upside_2027q1_other_funding_uses:upside/basis | None | Explicit desk allowance outside operating cash/capex: includes $10M assumed sale costs only for WULF upside closing. Zero otherwise leaves undisclosed acquisitions, contingent settlements and minority distributions unmodeled, not known absent. Construction reimbursements already included in capex are not deducted again. |
| /operating_model/cells/upside_2027q1_other_funding_uses:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_other_funding_uses:upside/id | None | upside_2027q1_other_funding_uses |
| /operating_model/cells/upside_2027q1_other_funding_uses:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_other_funding_uses:upside/label | None | Additional investing, fees and outside-owner cash uses |
| /operating_model/cells/upside_2027q1_other_funding_uses:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_other_funding_uses:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_other_funding_uses:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q1_principal_cash:upside/basis | None | Annual disclosed maturity times explicit quarterly allocation. No second deduction of operating coupon costs. |
| /operating_model/cells/upside_2027q1_principal_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_principal_cash:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q1_principal_cash:upside/formula/refs/0 | None | scheduled_2027_principal |
| /operating_model/cells/upside_2027q1_principal_cash:upside/formula/refs/1 | None | upside_2027q1_principal_weight |
| /operating_model/cells/upside_2027q1_principal_cash:upside/id | None | upside_2027q1_principal_cash |
| /operating_model/cells/upside_2027q1_principal_cash:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_principal_cash:upside/label | None | Scheduled principal cash use |
| /operating_model/cells/upside_2027q1_principal_cash:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_principal_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_principal_cash:upside/value | None | 54.27625 |
| /operating_model/cells/upside_2027q1_principal_weight:upside/basis | None | Desk timing of disclosed maturity total; CIFR 2027 is spread evenly as a planning proxy across different project instruments. Annual principal reconciles, but this is not an exact payment calendar. |
| /operating_model/cells/upside_2027q1_principal_weight:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_principal_weight:upside/id | None | upside_2027q1_principal_weight |
| /operating_model/cells/upside_2027q1_principal_weight:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q1_principal_weight:upside/label | None | Share of dated annual principal schedule |
| /operating_model/cells/upside_2027q1_principal_weight:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_principal_weight:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q1_principal_weight:upside/value | None | 0.25 |
| /operating_model/cells/upside_2027q1_restricted_release:upside/basis | None | Modeled construction capex times eligible restricted-funding fraction; existing project cash funds an eligible use, not corporate income. Published cases preserve the noncurrent reserve and never release more than construction spending. |
| /operating_model/cells/upside_2027q1_restricted_release:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_restricted_release:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q1_restricted_release:upside/formula/refs/0 | None | upside_2027q1_capex |
| /operating_model/cells/upside_2027q1_restricted_release:upside/formula/refs/1 | None | upside_2027q1_eligible_restricted_fraction |
| /operating_model/cells/upside_2027q1_restricted_release:upside/id | None | upside_2027q1_restricted_release |
| /operating_model/cells/upside_2027q1_restricted_release:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_restricted_release:upside/label | None | Restricted funds used for qualifying spending |
| /operating_model/cells/upside_2027q1_restricted_release:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_restricted_release:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_restricted_release:upside/value | None | 300.0 |
| /operating_model/cells/upside_2027q1_restricted_remaining:upside/basis | None | Opening restricted balance less modeled release. Not automatically available to satisfy other project or parent claims. |
| /operating_model/cells/upside_2027q1_restricted_remaining:upside/case | None | upside |
| /operating_model/cells/upside_2027q1_restricted_remaining:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q1_restricted_remaining:upside/formula/refs/0 | None | upside_2026q4_restricted_remaining |
| /operating_model/cells/upside_2027q1_restricted_remaining:upside/formula/refs/1 | None | upside_2027q1_restricted_release |
| /operating_model/cells/upside_2027q1_restricted_remaining:upside/id | None | upside_2027q1_restricted_remaining |
| /operating_model/cells/upside_2027q1_restricted_remaining:upside/kind | None | derived |
| /operating_model/cells/upside_2027q1_restricted_remaining:upside/label | None | Remaining restricted cash in funding bridge |
| /operating_model/cells/upside_2027q1_restricted_remaining:upside/period | None | 2027Q1 |
| /operating_model/cells/upside_2027q1_restricted_remaining:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q1_restricted_remaining:upside/value | None | 2327.958 |
| /operating_model/cells/upside_2027q2_asset_sale_cash:upside/basis | None | No other asset sales assumed; no sale revenue is counted as recurring operating cash. |
| /operating_model/cells/upside_2027q2_asset_sale_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_asset_sale_cash:upside/id | None | upside_2027q2_asset_sale_cash |
| /operating_model/cells/upside_2027q2_asset_sale_cash:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_asset_sale_cash:upside/label | None | Asset-sale cash assumed |
| /operating_model/cells/upside_2027q2_asset_sale_cash:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_asset_sale_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_asset_sale_cash:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q2_cash_with_funding:upside/basis | None | Combines the operating model with explicit financing/restricted-fund assumptions once. |
| /operating_model/cells/upside_2027q2_cash_with_funding:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_cash_with_funding:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q2_cash_with_funding:upside/formula/refs/0 | None | upside_2027q2_cash_after_capex |
| /operating_model/cells/upside_2027q2_cash_with_funding:upside/formula/refs/1 | None | upside_2027q2_funding_sources |
| /operating_model/cells/upside_2027q2_cash_with_funding:upside/id | None | upside_2027q2_cash_with_funding |
| /operating_model/cells/upside_2027q2_cash_with_funding:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_cash_with_funding:upside/label | None | Operating cash after capex plus funding |
| /operating_model/cells/upside_2027q2_cash_with_funding:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_cash_with_funding:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_cash_with_funding:upside/value | None | 77.10873000000001 |
| /operating_model/cells/upside_2027q2_eligible_restricted_fraction:upside/basis | None | Desk fraction of modeled construction cash paid from existing eligible project funds. Must be between zero and one, cannot exceed available restricted funds, and never releases noncurrent reserves. |
| /operating_model/cells/upside_2027q2_eligible_restricted_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_eligible_restricted_fraction:upside/id | None | upside_2027q2_eligible_restricted_fraction |
| /operating_model/cells/upside_2027q2_eligible_restricted_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_eligible_restricted_fraction:upside/label | None | Construction spending eligible for restricted funding |
| /operating_model/cells/upside_2027q2_eligible_restricted_fraction:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_eligible_restricted_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q2_eligible_restricted_fraction:upside/value | None | 1.0 |
| /operating_model/cells/upside_2027q2_external_net_funding:upside/basis | None | No unspecified new funding assumed. A negative funding balance identifies financing or spending changes still needed; it is not a forecast negative bank balance. |
| /operating_model/cells/upside_2027q2_external_net_funding:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_external_net_funding:upside/id | None | upside_2027q2_external_net_funding |
| /operating_model/cells/upside_2027q2_external_net_funding:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_external_net_funding:upside/label | None | Additional net financing assumed |
| /operating_model/cells/upside_2027q2_external_net_funding:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_external_net_funding:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_external_net_funding:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q2_funding_balance:upside/basis | None | June unrestricted-cash baseline rolled through operating, capex and explicit funding assumptions. Negative means an unfilled funding requirement. This is not current cash, bank availability, owner distributions or a fully funded claim. |
| /operating_model/cells/upside_2027q2_funding_balance:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_funding_balance:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q2_funding_balance:upside/formula/refs/0 | None | upside_2027q1_funding_balance |
| /operating_model/cells/upside_2027q2_funding_balance:upside/formula/refs/1 | None | upside_2027q2_funding_change |
| /operating_model/cells/upside_2027q2_funding_balance:upside/id | None | upside_2027q2_funding_balance |
| /operating_model/cells/upside_2027q2_funding_balance:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_funding_balance:upside/label | None | Funding balance under stated assumptions |
| /operating_model/cells/upside_2027q2_funding_balance:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_funding_balance:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_funding_balance:upside/value | None | 750.14752 |
| /operating_model/cells/upside_2027q2_funding_change:upside/basis | None | Funding inflows less explicit cash uses; not a full GAAP cash-flow statement. |
| /operating_model/cells/upside_2027q2_funding_change:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_funding_change:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q2_funding_change:upside/formula/refs/0 | None | upside_2027q2_cash_with_funding |
| /operating_model/cells/upside_2027q2_funding_change:upside/formula/refs/1 | None | upside_2027q2_funding_uses |
| /operating_model/cells/upside_2027q2_funding_change:upside/id | None | upside_2027q2_funding_change |
| /operating_model/cells/upside_2027q2_funding_change:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_funding_change:upside/label | None | Net modeled funding change |
| /operating_model/cells/upside_2027q2_funding_change:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_funding_change:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_funding_change:upside/value | None | 22.83248000000001 |
| /operating_model/cells/upside_2027q2_funding_sources:upside/basis | None | Transfers from restricted cash, dated financing and conditional disposals stay distinct from revenue. |
| /operating_model/cells/upside_2027q2_funding_sources:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_funding_sources:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q2_funding_sources:upside/formula/refs/0 | None | upside_2027q2_restricted_release |
| /operating_model/cells/upside_2027q2_funding_sources:upside/formula/refs/1 | None | upside_2027q2_external_net_funding |
| /operating_model/cells/upside_2027q2_funding_sources:upside/formula/refs/2 | None | upside_2027q2_asset_sale_cash |
| /operating_model/cells/upside_2027q2_funding_sources:upside/id | None | upside_2027q2_funding_sources |
| /operating_model/cells/upside_2027q2_funding_sources:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_funding_sources:upside/label | None | Funding inflows outside operating model |
| /operating_model/cells/upside_2027q2_funding_sources:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_funding_sources:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_funding_sources:upside/value | None | 250.0 |
| /operating_model/cells/upside_2027q2_funding_uses:upside/basis | None | Principal and extra investing/ownership uses; interest, working capital and capex are already in the existing operating bridge. |
| /operating_model/cells/upside_2027q2_funding_uses:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_funding_uses:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q2_funding_uses:upside/formula/refs/0 | None | upside_2027q2_principal_cash |
| /operating_model/cells/upside_2027q2_funding_uses:upside/formula/refs/1 | None | upside_2027q2_other_funding_uses |
| /operating_model/cells/upside_2027q2_funding_uses:upside/id | None | upside_2027q2_funding_uses |
| /operating_model/cells/upside_2027q2_funding_uses:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_funding_uses:upside/label | None | Cash uses outside operating model |
| /operating_model/cells/upside_2027q2_funding_uses:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_funding_uses:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_funding_uses:upside/value | None | 54.27625 |
| /operating_model/cells/upside_2027q2_other_funding_uses:upside/basis | None | Explicit desk allowance outside operating cash/capex: includes $10M assumed sale costs only for WULF upside closing. Zero otherwise leaves undisclosed acquisitions, contingent settlements and minority distributions unmodeled, not known absent. Construction reimbursements already included in capex are not deducted again. |
| /operating_model/cells/upside_2027q2_other_funding_uses:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_other_funding_uses:upside/id | None | upside_2027q2_other_funding_uses |
| /operating_model/cells/upside_2027q2_other_funding_uses:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_other_funding_uses:upside/label | None | Additional investing, fees and outside-owner cash uses |
| /operating_model/cells/upside_2027q2_other_funding_uses:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_other_funding_uses:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_other_funding_uses:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q2_principal_cash:upside/basis | None | Annual disclosed maturity times explicit quarterly allocation. No second deduction of operating coupon costs. |
| /operating_model/cells/upside_2027q2_principal_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_principal_cash:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q2_principal_cash:upside/formula/refs/0 | None | scheduled_2027_principal |
| /operating_model/cells/upside_2027q2_principal_cash:upside/formula/refs/1 | None | upside_2027q2_principal_weight |
| /operating_model/cells/upside_2027q2_principal_cash:upside/id | None | upside_2027q2_principal_cash |
| /operating_model/cells/upside_2027q2_principal_cash:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_principal_cash:upside/label | None | Scheduled principal cash use |
| /operating_model/cells/upside_2027q2_principal_cash:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_principal_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_principal_cash:upside/value | None | 54.27625 |
| /operating_model/cells/upside_2027q2_principal_weight:upside/basis | None | Desk timing of disclosed maturity total; CIFR 2027 is spread evenly as a planning proxy across different project instruments. Annual principal reconciles, but this is not an exact payment calendar. |
| /operating_model/cells/upside_2027q2_principal_weight:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_principal_weight:upside/id | None | upside_2027q2_principal_weight |
| /operating_model/cells/upside_2027q2_principal_weight:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q2_principal_weight:upside/label | None | Share of dated annual principal schedule |
| /operating_model/cells/upside_2027q2_principal_weight:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_principal_weight:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q2_principal_weight:upside/value | None | 0.25 |
| /operating_model/cells/upside_2027q2_restricted_release:upside/basis | None | Modeled construction capex times eligible restricted-funding fraction; existing project cash funds an eligible use, not corporate income. Published cases preserve the noncurrent reserve and never release more than construction spending. |
| /operating_model/cells/upside_2027q2_restricted_release:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_restricted_release:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q2_restricted_release:upside/formula/refs/0 | None | upside_2027q2_capex |
| /operating_model/cells/upside_2027q2_restricted_release:upside/formula/refs/1 | None | upside_2027q2_eligible_restricted_fraction |
| /operating_model/cells/upside_2027q2_restricted_release:upside/id | None | upside_2027q2_restricted_release |
| /operating_model/cells/upside_2027q2_restricted_release:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_restricted_release:upside/label | None | Restricted funds used for qualifying spending |
| /operating_model/cells/upside_2027q2_restricted_release:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_restricted_release:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_restricted_release:upside/value | None | 250.0 |
| /operating_model/cells/upside_2027q2_restricted_remaining:upside/basis | None | Opening restricted balance less modeled release. Not automatically available to satisfy other project or parent claims. |
| /operating_model/cells/upside_2027q2_restricted_remaining:upside/case | None | upside |
| /operating_model/cells/upside_2027q2_restricted_remaining:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q2_restricted_remaining:upside/formula/refs/0 | None | upside_2027q1_restricted_remaining |
| /operating_model/cells/upside_2027q2_restricted_remaining:upside/formula/refs/1 | None | upside_2027q2_restricted_release |
| /operating_model/cells/upside_2027q2_restricted_remaining:upside/id | None | upside_2027q2_restricted_remaining |
| /operating_model/cells/upside_2027q2_restricted_remaining:upside/kind | None | derived |
| /operating_model/cells/upside_2027q2_restricted_remaining:upside/label | None | Remaining restricted cash in funding bridge |
| /operating_model/cells/upside_2027q2_restricted_remaining:upside/period | None | 2027Q2 |
| /operating_model/cells/upside_2027q2_restricted_remaining:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q2_restricted_remaining:upside/value | None | 2077.958 |
| /operating_model/cells/upside_2027q3_asset_sale_cash:upside/basis | None | No other asset sales assumed; no sale revenue is counted as recurring operating cash. |
| /operating_model/cells/upside_2027q3_asset_sale_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_asset_sale_cash:upside/id | None | upside_2027q3_asset_sale_cash |
| /operating_model/cells/upside_2027q3_asset_sale_cash:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_asset_sale_cash:upside/label | None | Asset-sale cash assumed |
| /operating_model/cells/upside_2027q3_asset_sale_cash:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_asset_sale_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_asset_sale_cash:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q3_cash_with_funding:upside/basis | None | Combines the operating model with explicit financing/restricted-fund assumptions once. |
| /operating_model/cells/upside_2027q3_cash_with_funding:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_cash_with_funding:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q3_cash_with_funding:upside/formula/refs/0 | None | upside_2027q3_cash_after_capex |
| /operating_model/cells/upside_2027q3_cash_with_funding:upside/formula/refs/1 | None | upside_2027q3_funding_sources |
| /operating_model/cells/upside_2027q3_cash_with_funding:upside/id | None | upside_2027q3_cash_with_funding |
| /operating_model/cells/upside_2027q3_cash_with_funding:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_cash_with_funding:upside/label | None | Operating cash after capex plus funding |
| /operating_model/cells/upside_2027q3_cash_with_funding:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_cash_with_funding:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_cash_with_funding:upside/value | None | 104.87519000000003 |
| /operating_model/cells/upside_2027q3_eligible_restricted_fraction:upside/basis | None | Desk fraction of modeled construction cash paid from existing eligible project funds. Must be between zero and one, cannot exceed available restricted funds, and never releases noncurrent reserves. |
| /operating_model/cells/upside_2027q3_eligible_restricted_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_eligible_restricted_fraction:upside/id | None | upside_2027q3_eligible_restricted_fraction |
| /operating_model/cells/upside_2027q3_eligible_restricted_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_eligible_restricted_fraction:upside/label | None | Construction spending eligible for restricted funding |
| /operating_model/cells/upside_2027q3_eligible_restricted_fraction:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_eligible_restricted_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q3_eligible_restricted_fraction:upside/value | None | 1.0 |
| /operating_model/cells/upside_2027q3_external_net_funding:upside/basis | None | No unspecified new funding assumed. A negative funding balance identifies financing or spending changes still needed; it is not a forecast negative bank balance. |
| /operating_model/cells/upside_2027q3_external_net_funding:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_external_net_funding:upside/id | None | upside_2027q3_external_net_funding |
| /operating_model/cells/upside_2027q3_external_net_funding:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_external_net_funding:upside/label | None | Additional net financing assumed |
| /operating_model/cells/upside_2027q3_external_net_funding:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_external_net_funding:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_external_net_funding:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q3_funding_balance:upside/basis | None | June unrestricted-cash baseline rolled through operating, capex and explicit funding assumptions. Negative means an unfilled funding requirement. This is not current cash, bank availability, owner distributions or a fully funded claim. |
| /operating_model/cells/upside_2027q3_funding_balance:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_funding_balance:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q3_funding_balance:upside/formula/refs/0 | None | upside_2027q2_funding_balance |
| /operating_model/cells/upside_2027q3_funding_balance:upside/formula/refs/1 | None | upside_2027q3_funding_change |
| /operating_model/cells/upside_2027q3_funding_balance:upside/id | None | upside_2027q3_funding_balance |
| /operating_model/cells/upside_2027q3_funding_balance:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_funding_balance:upside/label | None | Funding balance under stated assumptions |
| /operating_model/cells/upside_2027q3_funding_balance:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_funding_balance:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_funding_balance:upside/value | None | 800.7464600000001 |
| /operating_model/cells/upside_2027q3_funding_change:upside/basis | None | Funding inflows less explicit cash uses; not a full GAAP cash-flow statement. |
| /operating_model/cells/upside_2027q3_funding_change:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_funding_change:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q3_funding_change:upside/formula/refs/0 | None | upside_2027q3_cash_with_funding |
| /operating_model/cells/upside_2027q3_funding_change:upside/formula/refs/1 | None | upside_2027q3_funding_uses |
| /operating_model/cells/upside_2027q3_funding_change:upside/id | None | upside_2027q3_funding_change |
| /operating_model/cells/upside_2027q3_funding_change:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_funding_change:upside/label | None | Net modeled funding change |
| /operating_model/cells/upside_2027q3_funding_change:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_funding_change:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_funding_change:upside/value | None | 50.598940000000034 |
| /operating_model/cells/upside_2027q3_funding_sources:upside/basis | None | Transfers from restricted cash, dated financing and conditional disposals stay distinct from revenue. |
| /operating_model/cells/upside_2027q3_funding_sources:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_funding_sources:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q3_funding_sources:upside/formula/refs/0 | None | upside_2027q3_restricted_release |
| /operating_model/cells/upside_2027q3_funding_sources:upside/formula/refs/1 | None | upside_2027q3_external_net_funding |
| /operating_model/cells/upside_2027q3_funding_sources:upside/formula/refs/2 | None | upside_2027q3_asset_sale_cash |
| /operating_model/cells/upside_2027q3_funding_sources:upside/id | None | upside_2027q3_funding_sources |
| /operating_model/cells/upside_2027q3_funding_sources:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_funding_sources:upside/label | None | Funding inflows outside operating model |
| /operating_model/cells/upside_2027q3_funding_sources:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_funding_sources:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_funding_sources:upside/value | None | 150.0 |
| /operating_model/cells/upside_2027q3_funding_uses:upside/basis | None | Principal and extra investing/ownership uses; interest, working capital and capex are already in the existing operating bridge. |
| /operating_model/cells/upside_2027q3_funding_uses:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_funding_uses:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q3_funding_uses:upside/formula/refs/0 | None | upside_2027q3_principal_cash |
| /operating_model/cells/upside_2027q3_funding_uses:upside/formula/refs/1 | None | upside_2027q3_other_funding_uses |
| /operating_model/cells/upside_2027q3_funding_uses:upside/id | None | upside_2027q3_funding_uses |
| /operating_model/cells/upside_2027q3_funding_uses:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_funding_uses:upside/label | None | Cash uses outside operating model |
| /operating_model/cells/upside_2027q3_funding_uses:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_funding_uses:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_funding_uses:upside/value | None | 54.27625 |
| /operating_model/cells/upside_2027q3_other_funding_uses:upside/basis | None | Explicit desk allowance outside operating cash/capex: includes $10M assumed sale costs only for WULF upside closing. Zero otherwise leaves undisclosed acquisitions, contingent settlements and minority distributions unmodeled, not known absent. Construction reimbursements already included in capex are not deducted again. |
| /operating_model/cells/upside_2027q3_other_funding_uses:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_other_funding_uses:upside/id | None | upside_2027q3_other_funding_uses |
| /operating_model/cells/upside_2027q3_other_funding_uses:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_other_funding_uses:upside/label | None | Additional investing, fees and outside-owner cash uses |
| /operating_model/cells/upside_2027q3_other_funding_uses:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_other_funding_uses:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_other_funding_uses:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q3_principal_cash:upside/basis | None | Annual disclosed maturity times explicit quarterly allocation. No second deduction of operating coupon costs. |
| /operating_model/cells/upside_2027q3_principal_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_principal_cash:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q3_principal_cash:upside/formula/refs/0 | None | scheduled_2027_principal |
| /operating_model/cells/upside_2027q3_principal_cash:upside/formula/refs/1 | None | upside_2027q3_principal_weight |
| /operating_model/cells/upside_2027q3_principal_cash:upside/id | None | upside_2027q3_principal_cash |
| /operating_model/cells/upside_2027q3_principal_cash:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_principal_cash:upside/label | None | Scheduled principal cash use |
| /operating_model/cells/upside_2027q3_principal_cash:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_principal_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_principal_cash:upside/value | None | 54.27625 |
| /operating_model/cells/upside_2027q3_principal_weight:upside/basis | None | Desk timing of disclosed maturity total; CIFR 2027 is spread evenly as a planning proxy across different project instruments. Annual principal reconciles, but this is not an exact payment calendar. |
| /operating_model/cells/upside_2027q3_principal_weight:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_principal_weight:upside/id | None | upside_2027q3_principal_weight |
| /operating_model/cells/upside_2027q3_principal_weight:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q3_principal_weight:upside/label | None | Share of dated annual principal schedule |
| /operating_model/cells/upside_2027q3_principal_weight:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_principal_weight:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q3_principal_weight:upside/value | None | 0.25 |
| /operating_model/cells/upside_2027q3_restricted_release:upside/basis | None | Modeled construction capex times eligible restricted-funding fraction; existing project cash funds an eligible use, not corporate income. Published cases preserve the noncurrent reserve and never release more than construction spending. |
| /operating_model/cells/upside_2027q3_restricted_release:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_restricted_release:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q3_restricted_release:upside/formula/refs/0 | None | upside_2027q3_capex |
| /operating_model/cells/upside_2027q3_restricted_release:upside/formula/refs/1 | None | upside_2027q3_eligible_restricted_fraction |
| /operating_model/cells/upside_2027q3_restricted_release:upside/id | None | upside_2027q3_restricted_release |
| /operating_model/cells/upside_2027q3_restricted_release:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_restricted_release:upside/label | None | Restricted funds used for qualifying spending |
| /operating_model/cells/upside_2027q3_restricted_release:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_restricted_release:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_restricted_release:upside/value | None | 150.0 |
| /operating_model/cells/upside_2027q3_restricted_remaining:upside/basis | None | Opening restricted balance less modeled release. Not automatically available to satisfy other project or parent claims. |
| /operating_model/cells/upside_2027q3_restricted_remaining:upside/case | None | upside |
| /operating_model/cells/upside_2027q3_restricted_remaining:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q3_restricted_remaining:upside/formula/refs/0 | None | upside_2027q2_restricted_remaining |
| /operating_model/cells/upside_2027q3_restricted_remaining:upside/formula/refs/1 | None | upside_2027q3_restricted_release |
| /operating_model/cells/upside_2027q3_restricted_remaining:upside/id | None | upside_2027q3_restricted_remaining |
| /operating_model/cells/upside_2027q3_restricted_remaining:upside/kind | None | derived |
| /operating_model/cells/upside_2027q3_restricted_remaining:upside/label | None | Remaining restricted cash in funding bridge |
| /operating_model/cells/upside_2027q3_restricted_remaining:upside/period | None | 2027Q3 |
| /operating_model/cells/upside_2027q3_restricted_remaining:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q3_restricted_remaining:upside/value | None | 1927.958 |
| /operating_model/cells/upside_2027q4_asset_sale_cash:upside/basis | None | No other asset sales assumed; no sale revenue is counted as recurring operating cash. |
| /operating_model/cells/upside_2027q4_asset_sale_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_asset_sale_cash:upside/id | None | upside_2027q4_asset_sale_cash |
| /operating_model/cells/upside_2027q4_asset_sale_cash:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_asset_sale_cash:upside/label | None | Asset-sale cash assumed |
| /operating_model/cells/upside_2027q4_asset_sale_cash:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_asset_sale_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_asset_sale_cash:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q4_cash_with_funding:upside/basis | None | Combines the operating model with explicit financing/restricted-fund assumptions once. |
| /operating_model/cells/upside_2027q4_cash_with_funding:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_cash_with_funding:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q4_cash_with_funding:upside/formula/refs/0 | None | upside_2027q4_cash_after_capex |
| /operating_model/cells/upside_2027q4_cash_with_funding:upside/formula/refs/1 | None | upside_2027q4_funding_sources |
| /operating_model/cells/upside_2027q4_cash_with_funding:upside/id | None | upside_2027q4_cash_with_funding |
| /operating_model/cells/upside_2027q4_cash_with_funding:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_cash_with_funding:upside/label | None | Operating cash after capex plus funding |
| /operating_model/cells/upside_2027q4_cash_with_funding:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_cash_with_funding:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_cash_with_funding:upside/value | None | 104.37845000000002 |
| /operating_model/cells/upside_2027q4_eligible_restricted_fraction:upside/basis | None | Desk fraction of modeled construction cash paid from existing eligible project funds. Must be between zero and one, cannot exceed available restricted funds, and never releases noncurrent reserves. |
| /operating_model/cells/upside_2027q4_eligible_restricted_fraction:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_eligible_restricted_fraction:upside/id | None | upside_2027q4_eligible_restricted_fraction |
| /operating_model/cells/upside_2027q4_eligible_restricted_fraction:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_eligible_restricted_fraction:upside/label | None | Construction spending eligible for restricted funding |
| /operating_model/cells/upside_2027q4_eligible_restricted_fraction:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_eligible_restricted_fraction:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q4_eligible_restricted_fraction:upside/value | None | 1.0 |
| /operating_model/cells/upside_2027q4_external_net_funding:upside/basis | None | No unspecified new funding assumed. A negative funding balance identifies financing or spending changes still needed; it is not a forecast negative bank balance. |
| /operating_model/cells/upside_2027q4_external_net_funding:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_external_net_funding:upside/id | None | upside_2027q4_external_net_funding |
| /operating_model/cells/upside_2027q4_external_net_funding:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_external_net_funding:upside/label | None | Additional net financing assumed |
| /operating_model/cells/upside_2027q4_external_net_funding:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_external_net_funding:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_external_net_funding:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q4_funding_balance:upside/basis | None | June unrestricted-cash baseline rolled through operating, capex and explicit funding assumptions. Negative means an unfilled funding requirement. This is not current cash, bank availability, owner distributions or a fully funded claim. |
| /operating_model/cells/upside_2027q4_funding_balance:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_funding_balance:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q4_funding_balance:upside/formula/refs/0 | None | upside_2027q3_funding_balance |
| /operating_model/cells/upside_2027q4_funding_balance:upside/formula/refs/1 | None | upside_2027q4_funding_change |
| /operating_model/cells/upside_2027q4_funding_balance:upside/id | None | upside_2027q4_funding_balance |
| /operating_model/cells/upside_2027q4_funding_balance:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_funding_balance:upside/label | None | Funding balance under stated assumptions |
| /operating_model/cells/upside_2027q4_funding_balance:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_funding_balance:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_funding_balance:upside/value | None | 850.8486600000001 |
| /operating_model/cells/upside_2027q4_funding_change:upside/basis | None | Funding inflows less explicit cash uses; not a full GAAP cash-flow statement. |
| /operating_model/cells/upside_2027q4_funding_change:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_funding_change:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q4_funding_change:upside/formula/refs/0 | None | upside_2027q4_cash_with_funding |
| /operating_model/cells/upside_2027q4_funding_change:upside/formula/refs/1 | None | upside_2027q4_funding_uses |
| /operating_model/cells/upside_2027q4_funding_change:upside/id | None | upside_2027q4_funding_change |
| /operating_model/cells/upside_2027q4_funding_change:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_funding_change:upside/label | None | Net modeled funding change |
| /operating_model/cells/upside_2027q4_funding_change:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_funding_change:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_funding_change:upside/value | None | 50.10220000000002 |
| /operating_model/cells/upside_2027q4_funding_sources:upside/basis | None | Transfers from restricted cash, dated financing and conditional disposals stay distinct from revenue. |
| /operating_model/cells/upside_2027q4_funding_sources:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_funding_sources:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q4_funding_sources:upside/formula/refs/0 | None | upside_2027q4_restricted_release |
| /operating_model/cells/upside_2027q4_funding_sources:upside/formula/refs/1 | None | upside_2027q4_external_net_funding |
| /operating_model/cells/upside_2027q4_funding_sources:upside/formula/refs/2 | None | upside_2027q4_asset_sale_cash |
| /operating_model/cells/upside_2027q4_funding_sources:upside/id | None | upside_2027q4_funding_sources |
| /operating_model/cells/upside_2027q4_funding_sources:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_funding_sources:upside/label | None | Funding inflows outside operating model |
| /operating_model/cells/upside_2027q4_funding_sources:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_funding_sources:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_funding_sources:upside/value | None | 100.0 |
| /operating_model/cells/upside_2027q4_funding_uses:upside/basis | None | Principal and extra investing/ownership uses; interest, working capital and capex are already in the existing operating bridge. |
| /operating_model/cells/upside_2027q4_funding_uses:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_funding_uses:upside/formula/op | None | sum |
| /operating_model/cells/upside_2027q4_funding_uses:upside/formula/refs/0 | None | upside_2027q4_principal_cash |
| /operating_model/cells/upside_2027q4_funding_uses:upside/formula/refs/1 | None | upside_2027q4_other_funding_uses |
| /operating_model/cells/upside_2027q4_funding_uses:upside/id | None | upside_2027q4_funding_uses |
| /operating_model/cells/upside_2027q4_funding_uses:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_funding_uses:upside/label | None | Cash uses outside operating model |
| /operating_model/cells/upside_2027q4_funding_uses:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_funding_uses:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_funding_uses:upside/value | None | 54.27625 |
| /operating_model/cells/upside_2027q4_other_funding_uses:upside/basis | None | Explicit desk allowance outside operating cash/capex: includes $10M assumed sale costs only for WULF upside closing. Zero otherwise leaves undisclosed acquisitions, contingent settlements and minority distributions unmodeled, not known absent. Construction reimbursements already included in capex are not deducted again. |
| /operating_model/cells/upside_2027q4_other_funding_uses:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_other_funding_uses:upside/id | None | upside_2027q4_other_funding_uses |
| /operating_model/cells/upside_2027q4_other_funding_uses:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_other_funding_uses:upside/label | None | Additional investing, fees and outside-owner cash uses |
| /operating_model/cells/upside_2027q4_other_funding_uses:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_other_funding_uses:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_other_funding_uses:upside/value | None | 0.0 |
| /operating_model/cells/upside_2027q4_principal_cash:upside/basis | None | Annual disclosed maturity times explicit quarterly allocation. No second deduction of operating coupon costs. |
| /operating_model/cells/upside_2027q4_principal_cash:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_principal_cash:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q4_principal_cash:upside/formula/refs/0 | None | scheduled_2027_principal |
| /operating_model/cells/upside_2027q4_principal_cash:upside/formula/refs/1 | None | upside_2027q4_principal_weight |
| /operating_model/cells/upside_2027q4_principal_cash:upside/id | None | upside_2027q4_principal_cash |
| /operating_model/cells/upside_2027q4_principal_cash:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_principal_cash:upside/label | None | Scheduled principal cash use |
| /operating_model/cells/upside_2027q4_principal_cash:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_principal_cash:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_principal_cash:upside/value | None | 54.27625 |
| /operating_model/cells/upside_2027q4_principal_weight:upside/basis | None | Desk timing of disclosed maturity total; CIFR 2027 is spread evenly as a planning proxy across different project instruments. Annual principal reconciles, but this is not an exact payment calendar. |
| /operating_model/cells/upside_2027q4_principal_weight:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_principal_weight:upside/id | None | upside_2027q4_principal_weight |
| /operating_model/cells/upside_2027q4_principal_weight:upside/kind | None | assumption |
| /operating_model/cells/upside_2027q4_principal_weight:upside/label | None | Share of dated annual principal schedule |
| /operating_model/cells/upside_2027q4_principal_weight:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_principal_weight:upside/unit | None | ratio |
| /operating_model/cells/upside_2027q4_principal_weight:upside/value | None | 0.25 |
| /operating_model/cells/upside_2027q4_restricted_release:upside/basis | None | Modeled construction capex times eligible restricted-funding fraction; existing project cash funds an eligible use, not corporate income. Published cases preserve the noncurrent reserve and never release more than construction spending. |
| /operating_model/cells/upside_2027q4_restricted_release:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_restricted_release:upside/formula/op | None | multiply |
| /operating_model/cells/upside_2027q4_restricted_release:upside/formula/refs/0 | None | upside_2027q4_capex |
| /operating_model/cells/upside_2027q4_restricted_release:upside/formula/refs/1 | None | upside_2027q4_eligible_restricted_fraction |
| /operating_model/cells/upside_2027q4_restricted_release:upside/id | None | upside_2027q4_restricted_release |
| /operating_model/cells/upside_2027q4_restricted_release:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_restricted_release:upside/label | None | Restricted funds used for qualifying spending |
| /operating_model/cells/upside_2027q4_restricted_release:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_restricted_release:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_restricted_release:upside/value | None | 100.0 |
| /operating_model/cells/upside_2027q4_restricted_remaining:upside/basis | None | Opening restricted balance less modeled release. Not automatically available to satisfy other project or parent claims. |
| /operating_model/cells/upside_2027q4_restricted_remaining:upside/case | None | upside |
| /operating_model/cells/upside_2027q4_restricted_remaining:upside/formula/op | None | subtract |
| /operating_model/cells/upside_2027q4_restricted_remaining:upside/formula/refs/0 | None | upside_2027q3_restricted_remaining |
| /operating_model/cells/upside_2027q4_restricted_remaining:upside/formula/refs/1 | None | upside_2027q4_restricted_release |
| /operating_model/cells/upside_2027q4_restricted_remaining:upside/id | None | upside_2027q4_restricted_remaining |
| /operating_model/cells/upside_2027q4_restricted_remaining:upside/kind | None | derived |
| /operating_model/cells/upside_2027q4_restricted_remaining:upside/label | None | Remaining restricted cash in funding bridge |
| /operating_model/cells/upside_2027q4_restricted_remaining:upside/period | None | 2027Q4 |
| /operating_model/cells/upside_2027q4_restricted_remaining:upside/unit | None | USD_millions |
| /operating_model/cells/upside_2027q4_restricted_remaining:upside/value | None | 1827.958 |
| /operating_model/cells/upside_fy2026_funding_balance:upside/basis | None | Year-end stock equals Q4 ending balance; quarterly balances are never summed. |
| /operating_model/cells/upside_fy2026_funding_balance:upside/case | None | upside |
| /operating_model/cells/upside_fy2026_funding_balance:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2026_funding_balance:upside/formula/refs/0 | None | upside_2026q4_funding_balance |
| /operating_model/cells/upside_fy2026_funding_balance:upside/formula/refs/1 | None | funding_zero |
| /operating_model/cells/upside_fy2026_funding_balance:upside/id | None | upside_fy2026_funding_balance |
| /operating_model/cells/upside_fy2026_funding_balance:upside/kind | None | derived |
| /operating_model/cells/upside_fy2026_funding_balance:upside/label | None | Year-end Funding balance under stated assumptions ($M) |
| /operating_model/cells/upside_fy2026_funding_balance:upside/period | None | FY2026 |
| /operating_model/cells/upside_fy2026_funding_balance:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2026_funding_balance:upside/value | None | 732.24902 |
| /operating_model/cells/upside_fy2026_restricted_remaining:upside/basis | None | Year-end stock equals Q4 ending balance; quarterly balances are never summed. |
| /operating_model/cells/upside_fy2026_restricted_remaining:upside/case | None | upside |
| /operating_model/cells/upside_fy2026_restricted_remaining:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2026_restricted_remaining:upside/formula/refs/0 | None | upside_2026q4_restricted_remaining |
| /operating_model/cells/upside_fy2026_restricted_remaining:upside/formula/refs/1 | None | funding_zero |
| /operating_model/cells/upside_fy2026_restricted_remaining:upside/id | None | upside_fy2026_restricted_remaining |
| /operating_model/cells/upside_fy2026_restricted_remaining:upside/kind | None | derived |
| /operating_model/cells/upside_fy2026_restricted_remaining:upside/label | None | Year-end Remaining restricted cash in funding bridge ($M) |
| /operating_model/cells/upside_fy2026_restricted_remaining:upside/period | None | FY2026 |
| /operating_model/cells/upside_fy2026_restricted_remaining:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2026_restricted_remaining:upside/value | None | 2627.958 |
| /operating_model/cells/upside_fy2027_funding_balance:upside/basis | None | Year-end stock equals Q4 ending balance; quarterly balances are never summed. |
| /operating_model/cells/upside_fy2027_funding_balance:upside/case | None | upside |
| /operating_model/cells/upside_fy2027_funding_balance:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2027_funding_balance:upside/formula/refs/0 | None | upside_2027q4_funding_balance |
| /operating_model/cells/upside_fy2027_funding_balance:upside/formula/refs/1 | None | funding_zero |
| /operating_model/cells/upside_fy2027_funding_balance:upside/id | None | upside_fy2027_funding_balance |
| /operating_model/cells/upside_fy2027_funding_balance:upside/kind | None | derived |
| /operating_model/cells/upside_fy2027_funding_balance:upside/label | None | Year-end Funding balance under stated assumptions ($M) |
| /operating_model/cells/upside_fy2027_funding_balance:upside/period | None | FY2027 |
| /operating_model/cells/upside_fy2027_funding_balance:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2027_funding_balance:upside/value | None | 850.8486600000001 |
| /operating_model/cells/upside_fy2027_restricted_remaining:upside/basis | None | Year-end stock equals Q4 ending balance; quarterly balances are never summed. |
| /operating_model/cells/upside_fy2027_restricted_remaining:upside/case | None | upside |
| /operating_model/cells/upside_fy2027_restricted_remaining:upside/formula/op | None | sum |
| /operating_model/cells/upside_fy2027_restricted_remaining:upside/formula/refs/0 | None | upside_2027q4_restricted_remaining |
| /operating_model/cells/upside_fy2027_restricted_remaining:upside/formula/refs/1 | None | funding_zero |
| /operating_model/cells/upside_fy2027_restricted_remaining:upside/id | None | upside_fy2027_restricted_remaining |
| /operating_model/cells/upside_fy2027_restricted_remaining:upside/kind | None | derived |
| /operating_model/cells/upside_fy2027_restricted_remaining:upside/label | None | Year-end Remaining restricted cash in funding bridge ($M) |
| /operating_model/cells/upside_fy2027_restricted_remaining:upside/period | None | FY2027 |
| /operating_model/cells/upside_fy2027_restricted_remaining:upside/unit | None | USD_millions |
| /operating_model/cells/upside_fy2027_restricted_remaining:upside/value | None | 1827.958 |
| /operating_model/highlights/10 | None | june_potential_claims |
| /operating_model/highlights/11 | None | june_google_warrants |
| /operating_model/highlights/12 | None | google_minimum_value |
| /operating_model/highlights/7 | None | scheduled_h2_principal |
| /operating_model/highlights/8 | None | scheduled_2027_principal |
| /operating_model/highlights/9 | None | june_common_shares |
| /operating_model/limitations/0 | An initial operating model, without a reconciled balance sheet, diluted EPS or equity valuation. | Funding balances are conditional planning arithmetic from June cash, not present cash or a reconciled GAAP balance sheet. Negative balances identify unfilled funding needs. New issuance, early conversion, contingent claims, cash sweeps, acquisitions and minority distributions remain explicit gaps; no fully diluted EPS or equity valuation is claimed. |
| /operating_model/limitations/3 | Cash after capex excludes acquisitions, asset-sale proceeds, new financing and principal repayments. It is not parent cash available to shareholders. | Pipeline power, the Apollo option and unsigned Odessa HPC reuse generate no forecast rent. Historical SEC gross-profit and debt mappings are incomplete. |
| /operating_model/limitations/4 | Pipeline power, the Apollo option and unsigned Odessa HPC reuse generate no forecast rent. Historical SEC gross-profit and debt mappings are incomplete. | September gas-lateral development and the shared $10M water commitment are disclosed, but Cipher-specific incremental costs and payment timing are unquantified. They are not separately forecast; contracted-project cash-after-capex can overstate retained cash if these add spending. Conditional pipeline capacity remains outside forecast rent. |
| /operating_model/limitations/5 | September gas-lateral development and the shared $10M water commitment are disclosed, but Cipher-specific incremental costs and payment timing are unquantified. They are not separately forecast; contracted-project cash-after-capex can overstate retained cash if these add spending. Conditional pipeline capacity remains outside forecast rent. | CIFR releases only modeled eligible current restricted project funds; noncurrent reserves remain unavailable. Coupon burden is an even economic accrual and 2027 principal timing is a planning allocation, so funding balances are not bank-account forecasts. Additional Google cash/share protection and minority claims are not assigned invented settlements. |
| /operating_model/method | Use the company annual contracted HPC NOI schedule as the reference, then vary delivery, quarterly phasing and the NOI-to-revenue conversion. Add separately modeled Bitcoin revenue. Subtract cash overhead, contractual coupon accrual and other cash uses, then construction spending. Historical H1 cash includes Bitcoin-sale proceeds classified in investing activities. Cash metrics are analytical proxies, not GAAP cash flow or distributable cash. FY2026 combines reported H1 with two forecast quarters; FY2027 sums four desk quarters. September conditional grid capacity and proposed generation are monitored in checkpoints and contribute no additional modeled revenue; incremental expansion costs remain unquantified. | Use the company annual contracted HPC NOI schedule as the reference, then vary delivery, quarterly phasing and the NOI-to-revenue conversion. Add separately modeled Bitcoin revenue. Subtract cash overhead, contractual coupon accrual and other cash uses, then construction spending. Historical H1 cash includes Bitcoin-sale proceeds classified in investing activities. Cash metrics are analytical proxies, not GAAP cash flow or distributable cash. FY2026 combines reported H1 with two forecast quarters; FY2027 sums four desk quarters. September conditional grid capacity and proposed generation are monitored in checkpoints and contribute no additional modeled revenue; incremental expansion costs remain unquantified. A separate funding roll-forward reconciles June unrestricted cash, operating cash after capex, restricted releases, dated net financing and principal/other cash uses. Annual funding balances use Q4 stocks. Negative values show unfilled financing needs, not feasible negative cash accounts. |
| /operating_model/metrics/funding_balance | None | Funding balance under stated assumptions ($M) |
| /operating_model/metrics/restricted_remaining | None | Remaining restricted cash in funding bridge ($M) |
| /operating_model/outputs/2026Q3:base/metrics/funding_balance | None | base_2026q3_funding_balance |
| /operating_model/outputs/2026Q3:base/metrics/restricted_remaining | None | base_2026q3_restricted_remaining |
| /operating_model/outputs/2026Q3:base/values/funding_balance | None | 679.3995 |
| /operating_model/outputs/2026Q3:base/values/restricted_remaining | None | 3187.958 |
| /operating_model/outputs/2026Q3:downside/metrics/funding_balance | None | downside_2026q3_funding_balance |
| /operating_model/outputs/2026Q3:downside/metrics/restricted_remaining | None | downside_2026q3_restricted_remaining |
| /operating_model/outputs/2026Q3:downside/values/funding_balance | None | 526.59971 |
| /operating_model/outputs/2026Q3:downside/values/restricted_remaining | None | 3272.958 |
| /operating_model/outputs/2026Q3:upside/metrics/funding_balance | None | upside_2026q3_funding_balance |
| /operating_model/outputs/2026Q3:upside/metrics/restricted_remaining | None | upside_2026q3_restricted_remaining |
| /operating_model/outputs/2026Q3:upside/values/funding_balance | None | 752.5740099999999 |
| /operating_model/outputs/2026Q3:upside/values/restricted_remaining | None | 3177.958 |
| /operating_model/outputs/2026Q4:base/metrics/funding_balance | None | base_2026q4_funding_balance |
| /operating_model/outputs/2026Q4:base/metrics/restricted_remaining | None | base_2026q4_restricted_remaining |
| /operating_model/outputs/2026Q4:base/values/funding_balance | None | 589.974 |
| /operating_model/outputs/2026Q4:base/values/restricted_remaining | None | 2647.958 |
| /operating_model/outputs/2026Q4:downside/metrics/funding_balance | None | downside_2026q4_funding_balance |
| /operating_model/outputs/2026Q4:downside/metrics/restricted_remaining | None | downside_2026q4_restricted_remaining |
| /operating_model/outputs/2026Q4:downside/values/funding_balance | None | 271.0310499999999 |
| /operating_model/outputs/2026Q4:downside/values/restricted_remaining | None | 2817.958 |
| /operating_model/outputs/2026Q4:upside/metrics/funding_balance | None | upside_2026q4_funding_balance |
| /operating_model/outputs/2026Q4:upside/metrics/restricted_remaining | None | upside_2026q4_restricted_remaining |
| /operating_model/outputs/2026Q4:upside/values/funding_balance | None | 732.24902 |
| /operating_model/outputs/2026Q4:upside/values/restricted_remaining | None | 2627.958 |
| /operating_model/outputs/2027Q1:base/metrics/funding_balance | None | base_2027q1_funding_balance |
| /operating_model/outputs/2027Q1:base/metrics/restricted_remaining | None | base_2027q1_restricted_remaining |
| /operating_model/outputs/2027Q1:base/values/funding_balance | None | 516.8177875 |
| /operating_model/outputs/2027Q1:base/values/restricted_remaining | None | 2332.958 |
| /operating_model/outputs/2027Q1:downside/metrics/funding_balance | None | downside_2027q1_funding_balance |
| /operating_model/outputs/2027Q1:downside/metrics/restricted_remaining | None | downside_2027q1_restricted_remaining |
| /operating_model/outputs/2027Q1:downside/values/funding_balance | None | 49.826454999999896 |
| /operating_model/outputs/2027Q1:downside/values/restricted_remaining | None | 2537.958 |
| /operating_model/outputs/2027Q1:upside/metrics/funding_balance | None | upside_2027q1_funding_balance |
| /operating_model/outputs/2027Q1:upside/metrics/restricted_remaining | None | upside_2027q1_restricted_remaining |
| /operating_model/outputs/2027Q1:upside/values/funding_balance | None | 727.31504 |
| /operating_model/outputs/2027Q1:upside/values/restricted_remaining | None | 2327.958 |
| /operating_model/outputs/2027Q2:base/metrics/funding_balance | None | base_2027q2_funding_balance |
| /operating_model/outputs/2027Q2:base/metrics/restricted_remaining | None | base_2027q2_restricted_remaining |
| /operating_model/outputs/2027Q2:base/values/funding_balance | None | 489.5111125 |
| /operating_model/outputs/2027Q2:base/values/restricted_remaining | None | 2062.958 |
| /operating_model/outputs/2027Q2:downside/metrics/funding_balance | None | downside_2027q2_funding_balance |
| /operating_model/outputs/2027Q2:downside/metrics/restricted_remaining | None | downside_2027q2_restricted_remaining |
| /operating_model/outputs/2027Q2:downside/values/funding_balance | None | -101.62232500000013 |
| /operating_model/outputs/2027Q2:downside/values/restricted_remaining | None | 2292.958 |
| /operating_model/outputs/2027Q2:upside/metrics/funding_balance | None | upside_2027q2_funding_balance |
| /operating_model/outputs/2027Q2:upside/metrics/restricted_remaining | None | upside_2027q2_restricted_remaining |
| /operating_model/outputs/2027Q2:upside/values/funding_balance | None | 750.14752 |
| /operating_model/outputs/2027Q2:upside/values/restricted_remaining | None | 2077.958 |
| /operating_model/outputs/FY2026:base/metrics/funding_balance | None | base_fy2026_funding_balance |
| /operating_model/outputs/FY2026:base/metrics/restricted_remaining | None | base_fy2026_restricted_remaining |
| /operating_model/outputs/FY2026:base/values/funding_balance | None | 589.974 |
| /operating_model/outputs/FY2026:base/values/restricted_remaining | None | 2647.958 |
| /operating_model/outputs/FY2026:downside/metrics/funding_balance | None | downside_fy2026_funding_balance |
| /operating_model/outputs/FY2026:downside/metrics/restricted_remaining | None | downside_fy2026_restricted_remaining |
| /operating_model/outputs/FY2026:downside/values/funding_balance | None | 271.0310499999999 |
| /operating_model/outputs/FY2026:downside/values/restricted_remaining | None | 2817.958 |
| /operating_model/outputs/FY2026:upside/metrics/funding_balance | None | upside_fy2026_funding_balance |
| /operating_model/outputs/FY2026:upside/metrics/restricted_remaining | None | upside_fy2026_restricted_remaining |
| /operating_model/outputs/FY2026:upside/values/funding_balance | None | 732.24902 |
| /operating_model/outputs/FY2026:upside/values/restricted_remaining | None | 2627.958 |
| /operating_model/outputs/FY2027:base/metrics/funding_balance | None | base_fy2027_funding_balance |
| /operating_model/outputs/FY2027:base/metrics/restricted_remaining | None | base_fy2027_restricted_remaining |
| /operating_model/outputs/FY2027:base/values/funding_balance | None | 555.006375 |
| /operating_model/outputs/FY2027:base/values/restricted_remaining | None | 1747.958 |
| /operating_model/outputs/FY2027:downside/metrics/funding_balance | None | downside_fy2027_funding_balance |
| /operating_model/outputs/FY2027:downside/metrics/restricted_remaining | None | downside_fy2027_restricted_remaining |
| /operating_model/outputs/FY2027:downside/values/funding_balance | None | -209.15644000000012 |
| /operating_model/outputs/FY2027:downside/values/restricted_remaining | None | 1977.958 |
| /operating_model/outputs/FY2027:upside/metrics/funding_balance | None | upside_fy2027_funding_balance |
| /operating_model/outputs/FY2027:upside/metrics/restricted_remaining | None | upside_fy2027_restricted_remaining |
| /operating_model/outputs/FY2027:upside/values/funding_balance | None | 850.8486600000001 |
| /operating_model/outputs/FY2027:upside/values/restricted_remaining | None | 1827.958 |
| /research/change_note | September 20 pre-promotion review adds the September 3 gas-lateral plan, September 14 joint water commitment, and September 15 company grid-classification disclosure with regulatory conditions. Existing reported accounts, contracted NOI schedule and scenario numbers are unchanged; no new earnings or accepted capacity was disclosed in the sources reviewed. Numerical forecasts do not treat conditional power or unleased pipeline as rent. | Added conditional funding/restricted-cash roll-forwards, scheduled principal and dated ownership claims. Corrected the $172.5M convertible label to its 2030 maturity. Existing operating forecasts stay unchanged; parent cash, contingent warrant settlements and future financing remain qualified. |
| /research/limitations/0 | An initial operating model, without a reconciled balance sheet, diluted EPS or equity valuation. | Funding balances are conditional planning arithmetic from June cash, not present cash or a reconciled GAAP balance sheet. Negative balances identify unfilled funding needs. New issuance, early conversion, contingent claims, cash sweeps, acquisitions and minority distributions remain explicit gaps; no fully diluted EPS or equity valuation is claimed. |
| /research/limitations/3 | Cash after capex excludes acquisitions, asset-sale proceeds, new financing and principal repayments. It is not parent cash available to shareholders. | Pipeline power, the Apollo option and unsigned Odessa HPC reuse generate no forecast rent. Historical SEC gross-profit and debt mappings are incomplete. |
| /research/limitations/4 | Pipeline power, the Apollo option and unsigned Odessa HPC reuse generate no forecast rent. Historical SEC gross-profit and debt mappings are incomplete. | September gas-lateral development and the shared $10M water commitment are disclosed, but Cipher-specific incremental costs and payment timing are unquantified. They are not separately forecast; contracted-project cash-after-capex can overstate retained cash if these add spending. Conditional pipeline capacity remains outside forecast rent. |
| /research/limitations/5 | September gas-lateral development and the shared $10M water commitment are disclosed, but Cipher-specific incremental costs and payment timing are unquantified. They are not separately forecast; contracted-project cash-after-capex can overstate retained cash if these add spending. Conditional pipeline capacity remains outside forecast rent. | CIFR releases only modeled eligible current restricted project funds; noncurrent reserves remain unavailable. Coupon burden is an even economic accrual and 2027 principal timing is a planning allocation, so funding balances are not bank-account forecasts. Additional Google cash/share protection and minority claims are not assigned invented settlements. |
| /research/risks/7 | None | Google warrant protection can require additional shares or cash if its contractual minimum value is not met before exercise begins. June excluded convertible/award shares are potential claims, not a completed forward EPS denominator. |
| /sources/0/retrieved | 2026-09-19 | 2026-09-20 |
| /thesis/what_changes_it | Track actual rent commencement, construction cash spending and the unrestricted-cash balance. Delay at Barber Lake or Stingray, weaker mining economics or capex overruns weaken the case; accepted capacity and NOI matching the schedule strengthen it. Also verify the grid audit, firm versus controllable power rights, and incremental gas-lateral cash obligations. | Track actual rent commencement, construction cash spending and the unrestricted-cash balance. Delay at Barber Lake or Stingray, weaker mining economics or capex overruns weaken the case; accepted capacity and NOI matching the schedule strengthen it. Also verify the grid audit, firm versus controllable power rights, and incremental gas-lateral cash obligations. Reconcile project restricted-fund releases with eligible construction, principal repayments and any Google warrant protection settlement before interpreting property NOI as owner cash. |