As of Q4'25, APP reported Cash & Short-term Investments of USD 2.49B and Debt of USD 3.54B. This marks a significant increase in cash holdings compared to previous quarters, while debt levels have remained relatively stable. From Q1'23 to Q4'25, the company's cash position experienced notable fluctuations, dropping from USD 1.25B in Q1'23 to a low of USD 332M in Q3'23 before rebounding sharply to USD 2.49B by Q4'25. Debt levels, on the other hand, have shown minor variations, consistently hovering around the USD 3.2B to USD 3.7B range throughout the period. The recent surge in cash suggests improved liquidity, but the overall leverage remains high given the persistent debt load.