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Restructuring

3 Months Ended

Mar. 31, 2025

Restructuring and Related Activities [Abstract]

Restructuring

Restructuring

In the three months ended March 31, 2025, a restructuring charge of $39.3 million (March 31, 2024: $nil) was recorded in the Condensed Consolidated Statement of Operations under a restructuring plan reflecting a workforce reduction.

			Three Months Ended
			March 31, 2025			March 31, 2024
			(in thousands)
Restructuring charges			$	39,346		$	—
Total			$	39,346		$	—

At March 31, 2025, a total liability of $52.0 million (December 31, 2024: $31.5 million) was recorded on the Condensed Consolidated Balance Sheet relating to restructuring activities.

			Three Months Ended			Year Ended
			March 31, 2025			December 31, 2024
			(in thousands)
Opening provision			$	31,474		$	6,999
Charge during the period			39,346			76,392
Utilization			(18,820)			(51,917)
Closing provision			$	52,000		$	31,474

The closing provision of $52.0 million (December 31, 2024: $31.5 million) reflects:

(1) $48.5 million (December 31, 2024: $27.7 million) of personnel related liabilities as a result of the workforce reduction; all of which have been classified as short-term within Other Liabilities, and

(2) $3.5 million (December 31, 2024: $3.8 million) of facilities related liabilities of which $1.3 million (December 31, 2024: $1.4 million) is included within Other Liabilities and $2.2 million (December 31, 2024: $2.4 million) is included within Non-Current Other Liabilities.

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- References

No definition available.

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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

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