v3.25.4

Restructuring | 12 Months Ended
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Dec. 31, 2025
Restructuring and Related Activities [Abstract] |
Restructuring | RESTRUCTURING In February 2023, the Company initiated the ACCELERATE 2025 program to enable continued growth, drive innovation, and deliver sustainable productivity improvements over the long term. The restructuring plan aimed to reduce costs and increase efficiencies through a focus on optimizing the Company’s operations and technology. In its expanded form, the restructuring plan was expected to incur total restructuring costs of approximately $110.0 million through December 31, 2024. The total expected costs of the plan included $55.0 million related to operations and technology optimization, $40.0 million related to employee compensation and benefits, and $15.0 million related to asset impairment and other termination costs. The plan was completed on December 31, 2024, as anticipated. The table below presents the restructuring expense incurred:
| Year Ended December 31, |  |  |
| 2024 |  | 2023 |  | Total |
Operations and technology optimization | $27,162 |  | $25,995 |  | $53,157 |
Compensation and benefits | 32,217 |  | 11,320 |  | 43,537 |
Asset impairment and other termination costs | 318 |  | 11,057 |  | 11,375 |
Total | $59,697 |  | $48,372 |  | $108,069 |
During the years ended December 31, 2024 and 2023, the Company recognized restructuring expenses of $39.9 million and $22.6 million, respectively, including contractor costs, in Compensation and benefits, and $19.8 million and $25.8 million, respectively, in General and administrative expense on the Consolidated Statements of Income. The table below presents a summary of changes in the restructuring liability:
| Operations and Technology Optimization |  | Compensation and Benefits |  | Asset Impairment and Other Termination Costs |  | Total |
Balance at December 31, 2023 | $5,886 |  | $1,080 |  | $— |  | $6,966 |
Accrued costs | 49,885 |  | 32,217 |  | 318 |  | 82,420 |
Payments | (38,788) |  | (29,467) |  | — |  | (68,255) |
Non-cash adjustments | — |  | — |  | (318) |  | (318) |
Balance at December 31, 2024 | $16,983 |  | $3,830 |  | $— |  | $20,813 |
Accrued costs in the table above include both costs expensed and capitalized during the period. As of December 31, 2024 and 2023, $15.3 million and $5.3 million, respectively, of the restructuring liability was included in Accounts payable and accrued liabilities and $5.5 million and $1.7 million, respectively, was included in Current Accrued compensation on the Consolidated Balance Sheets. The total restructuring liability outstanding as of December 31, 2024, was paid during the year ended December 31, 2025.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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