XML 48 R26.htm IDEA: XBRL DOCUMENT v3.26.1
STOCKHOLDERS’ EQUITY
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
STOCKHOLDERS’ EQUITY STOCKHOLDERS’ EQUITY
Capital Return Program
The Company has a Board of Directors approved capital return program under which the Company may expend a total of up to
$700 million for share repurchases and payment of dividends. Future share repurchases may be effected in various ways, which
could include open-market or private repurchase transactions, accelerated stock repurchase programs, tender offers or other
transactions. The amount, timing and terms of any return of capital transaction will be determined based on prevailing market
conditions and other factors. There is no fixed time period to complete share repurchases. As of December 31, 2025
(Successor), $95.5 million was available for use under the capital return program.
There was no repurchase activity during the period from February 8, 2025 to December 31, 2025 (Successor), period from
January 1, 2025 to February 7, 2025 (Predecessor) or year ended December 31, 2024 (Predecessor).
No cash dividends were paid during the period from February 8, 2025 to December 31, 2025 (Successor), period from January
1, 2025 to February 7, 2025 (Predecessor) or year ended December 31, 2024 (Predecessor). As of December 31, 2025
(Successor), the Company does not intend to pay dividends on its common stock for the foreseeable future. Any future
determinations regarding the Company’s dividend policies will be at the discretion of the Board and will depend on then-
current conditions, including the Company’s financial condition, results of operations, contractual restrictions, capital and
regulatory requirements and other factors the Board deems relevant.
Preferred Stock
The Company has authorized the issuance of up to 10 million shares of $0.01 par value preferred stock. As of December 31,
2025 (Successor) and 2024 (Predecessor), no shares of preferred stock have been issued.
Shares Outstanding
As of December 31, 2025 (Successor), the Company had 48,524,809 common shares issued and outstanding. The Company
issued warrants, options and other contingent consideration in acquisitions and strategic partnerships that are expected to result
in the issuance of common shares in future periods resulting from the exercise of warrants and options or the achievement of
certain performance targets. These incremental shares are summarized below:
Penny Warrants (Note 2)
11,619,725
Outstanding awards under Equity Incentive Plans (Note 16)
2,597,041
14,216,766
Accumulated Other Comprehensive Loss
The following table reflects the change in accumulated other comprehensive loss by component:
Predecessor
(in thousands)
Foreign
Currency
Translation
Adjustment(1)
Benefit
Plans
Cash Flow
Hedges
Net
Investment
Hedges(2)
Total
Accumulated other comprehensive (loss)
income at December 31, 2023 (Predecessor)
$(177,203)
$886
$(11,246)
$(21,995)
$(209,558)
Other comprehensive (loss) income before
reclassifications
(79,853)
1,172
16,003
24,843
(37,835)
Reclassifications from accumulated other
comprehensive (loss) income to earnings
(4,689)
—
(11,031)
5,420
(10,300)
Tax effect
—
(312)
(1,915)
(347)
(2,574)
Net current period other comprehensive (loss)
income
(84,542)
860
3,057
29,916
(50,709)
Accumulated other comprehensive (loss)
income at December 31, 2024 (Predecessor)
(261,745)
1,746
(8,189)
7,921
(260,267)
Other comprehensive (loss) income before
reclassifications
(13,097)
—
1,425
3,655
(8,017)
Reclassifications from accumulated other
comprehensive (loss) income to earnings
—
—
(105)
7
(98)
Tax effect
—
—
(352)
(976)
(1,328)
Net current period other comprehensive (loss)
income
(13,097)
—
968
2,686
(9,443)
Accumulated other comprehensive (loss)
income at February 7, 2025 (Predecessor)
$(274,842)
$1,746
$(7,221)
$10,607
$(269,710)
Successor
(in thousands)
Foreign
Currency
Translation
Adjustment
Benefit
Plans
Cash Flow
Hedges(3)
Net
Investment
Hedges
Total
Accumulated other comprehensive income
(loss) at February 8, 2025 (Successor)
$—
$—
$—
$—
$—
Other comprehensive income (loss) before
reclassifications
172,110
18
(27,057)
(56,773)
88,298
Reclassification from accumulated other
comprehensive income (loss) to earnings
—
—
4,422
2,063
6,485
Tax effect
(44,275)
—
5,906
14,275
(24,094)
Net current period other comprehensive
income (loss)
127,835
18
(16,729)
(40,435)
70,689
Amount attributable to non-controlling
interest
(1,268)
—
—
—
(1,268)
Accumulated other comprehensive income
(loss) at December 31, 2025 (Successor)
$126,567
$18
$(16,729)
$(40,435)
$69,421
__________________________________
(1)Reclassifications from accumulated other comprehensive (loss) income during the year ended December 31, 2024 (Predecessor) to earnings includes the
foreign currency translation adjustment of $(4.7) million released related to the Company’s sale of the Carved-Out Business (refer to Note 3 “Related
Party Transactions” for further information).
(2)Reclassifications from accumulated other comprehensive (loss) income during the year ended December 31, 2024 (Predecessor) to earnings includes
$9.1 million released as a result of de-designating a EUR-GBP cross currency swap related to the Company’s sale of the Carved-Out Business (refer to
Note 3 “Related Party Transactions” for further information).
(3)As of December 31, 2025 (Successor), approximately $16.9 million of existing gains and losses are estimated to be reclassified into earnings within the
next 12 months.