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Restructuring and Related Impairment Charges

3 Months Ended

Mar. 31, 2026

Restructuring and Related Activities [Abstract]

Restructuring and Related Impairment Charges

Restructuring and Related Impairment Charges

In December 2025, the Company finalized a new restructuring plan (the “2025 Plan”) to optimize operational efficiencies and reduce its global footprint. Total costs of $28.7 million were incurred in fourth quarter 2025 related to the 2025 Plan, and no additional costs are expected to be incurred for this plan.

In December 2022, the Company finalized a restructuring plan (the “2022 Plan”) to realize greater efficiencies by continuing to simplify its business portfolio and leverage its global footprint to reduce costs. In September 2023, the Company amended and extended the 2022 Plan to include additional actions within the initiatives described above, including further consolidation of its real estate portfolio and additional changes to its organizational structure. These actions were completed in 2025, with some remaining payments scheduled into 2027.

There were no costs incurred related to either restructuring plan for the three months ended March 31, 2026. For the three months ended March 31, 2025, there was $1.1 million of net reduction recorded for restructuring costs under the 2022 Plan, which included a $3.0 million reduction to previously estimated and recorded contract exit costs, partially offset by $1.9 million of severance and other employee benefits charges.

The following table shows the rollforward of the accrued liability by major type.

			Severance and Other Employee Benefits						Contract Exit Costs
Balance at January 1, 2026			$	32.0					$	7.2
Cash payments			(12.0)						(0.4)
Balance at March 31, 2026			$	20.0					$	6.8

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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
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
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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
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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