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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Disclosure of Share-based Compensation Expense

Share-based compensation expense is recognized in the Consolidated Statements of Operations as follows:

						Years Ended December 31,
(in thousands)						2025						2024						2023
Selling, general, and administrative expenses						$	54,553					$	48,745					$	38,626
Income (loss) from discontinued operations, net of tax						—						(132)						12,511
Total share-based compensation expense						$	54,553					$	48,613					$	51,137

Summary of Related 2018 Plan Top-up Options Activity

The following table summarizes activity related to the Top-up Options:

						Service Tranche												Performance Tranche
						Number of Top-up Options						Weighted-Average Exercise Price						Number of Top-up Options						Weighted-Average Exercise Price						Aggregate Intrinsic Value(1) (in thousands)						Weighted-Average Remaining Contractual Term (Years)
Outstanding as of December 31, 2024						5,955,254						$	13.30					5,624,601						$	13.30
Exercised						—						—						—						—
Forfeited						—						—						—						—
Outstanding as of December 31, 2025						5,955,254						$	13.30					5,624,601						$	13.30					—						2.0
Exercisable as of December 31, 2025(2)						5,955,254						$	13.30					3,528,647						$	13.30					—						2.0

________________________

(1)     The intrinsic value represents the amount by which the fair value of the Company’s Common Stock exceeds the option exercise price as of December 31, 2025.

(2)     During 2025, certain of the performance tranche of the Top-up Options were modified in a manner that resulted in such awards immediately vesting and becoming exercisable.

The following table summarizes activity related to 2018 Plan options during 2025:

						Number of Options						Weighted-Average Exercise Price						Aggregate Intrinsic Value(1) (in thousands)						Weighted-Average Remaining Contractual Term (Years)
Outstanding as of December 31, 2024						21,249,710						$	6.77
Granted						8,662,363						7.61
Exercised						(3,085,069)						6.25
Forfeited						(1,654,525)						8.12
Outstanding as of December 31, 2025						25,172,479						$	6.97					$	36,267					6.3
Exercisable as of December 31, 2025						13,360,516						$	6.73					$	26,499					4.1

________________________

(1) The intrinsic value represents the amount by which the fair value of the Company’s Common Stock exceeds the option exercise price as of December 31, 2025.

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The Company used a binomial lattice model to determine the grant date fair value for options granted in 2025 based on the following assumptions:

			Years Ended December 31,
			2025						2024
Expected exercise term (years)			6 - 7						7
Expected volatility(1)			41.7% - 42.3%						49.9%
Expected dividend yield(2)			2.8% - 2.9%						3.4%
Risk-free interest rate(3)			4.2% - 4.2%						4.0%

________________________

(1)    Estimated using historical and implied stock price volatility of the Company.

(2)    Calculated by taking the annual dividend run-rate and dividing by the stock price at date of grant.

(3)    Based on the U.S. Treasury yield curve.

Summary of Related 2018 Plan RSUs Activity

The following table summarizes activity related to the 2018 Plan RSUs (including DEUs) during 2025:

						Number of RSUs						Weighted-Average Grant Date Fair Value
Unvested as of December 31, 2024						8,264,015						$	7.14
Granted						4,214,266						7.69
Vested						(3,641,618)						7.36
Forfeited						(854,723)						6.95
Unvested as of December 31, 2025						7,981,940						$	7.31

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Tabular disclosure of share-based payment arrangement.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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