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Restructuring | 3 Months Ended
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Mar. 31, 2026
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring We have engaged in various restructuring programs to strengthen our business and streamline our operations, including taking actions related to the location and use of leased facilities. Our recent restructuring programs include the following: •Value Creation Plan - During the fourth quarter of 2024, we approved a broad-based plan to optimize our business model, which includes reductions in force and lease rationalization activities. We expect to incur approximately $13 of additional costs associated with this plan, primarily in 2026. •Segment Optimization - During the second quarter of 2023, we approved a restructuring plan to reduce operational costs within targeted areas of the Company, with the primary cost savings driver being from a reduction in workforce. This program is complete. The following table summarizes the pre-tax charges by activity and program during the periods indicated:
| Three Months Ended March 31,
| 2026 |  | 2025
Severance and related benefit costs |  |  |
Value Creation Plan | $11.9 |  | $24.0
Segment Optimization | – |  | 0.4
Total Severance and related benefit costs | 11.9 |  | 24.4
Exit and disposal costs |  |  |
Value Creation Plan | 0.1 |  | 0.3
Total Exit and disposal costs | 0.1 |  | 0.3
Restructuring costs | $12.0 |  | $24.7
The following table summarizes the pre-tax charges by program and segment during the periods indicated:
| Three Months Ended March 31,
| 2026 |  | 2025
Academia & Government |  |  |
Value Creation Plan | $4.8 |  | $12.3
Total A&G | 4.8 |  | 12.3
Intellectual Property |  |  |
Value Creation Plan | 4.1 |  | 6.2
Segment Optimization | — |  | 0.3
Total IP | 4.1 |  | 6.5
Life Sciences & Healthcare |  |  |
Value Creation Plan | 3.1 |  | 5.8
Segment Optimization | — |  | 0.1
Total LS&H | 3.1 |  | 5.9
Restructuring costs | $12.0 |  | $24.7
The table below summarizes the changes in our restructuring reserves by activity during the periods indicated:
| Severance and related benefit costs |  | Exit and disposal costs |  | Total
Reserve balance as of December 31, 2024 | $2.3 |  | $– |  | $2.3
Expenses recorded | 24.4 |  | 0.3 |  | 24.7
Payments made | (15.3) |  | (0.1) |  | (15.4)
Noncash items | (2.0) |  | (0.2) |  | (2.2)
Reserve balance as of March 31, 2025 | $9.4 |  | $– |  | $9.4
Reserve balance as of December 31, 2025 | $6.5 |  | $– |  | $6.5
Expenses recorded | 11.9 |  | 0.1 |  | 12.0
Payments made | (13.0) |  | (0.1) |  | (13.1)
Noncash items | (0.1) |  | – |  | (0.1)
Reserve balance as of March 31, 2026 | $5.3 |  | $– |  | $5.3

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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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