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Exit and Realignment Charges, Net

6 Months Ended

Jun. 30, 2025

Restructuring and Related Activities [Abstract]

Exit and Realignment Charges, Net

Note 7—Exit and Realignment Charges, Net

We incur exit and realignment and other charges associated with optimizing our operations which include IT strategic initiatives and other strategic actions. These charges include professional fees, severance and other costs to streamline functions and enhance processes. These costs are not normal, cash operating expenses necessary for the Company to operate its business on an ongoing basis.

Exit and realignment charges, net were $2.5 million and $16 million for the three and six months ended June 30, 2025 and $15 million and $24 million for the three and six months ended June 30, 2024. These charges were primarily related to strategic operational improvements to increase net revenue and lower costs as well as a provision to accounts receivable related to our Fusion5 business which is in the process of being wound down. We expect to incur material future costs relating to certain exit and realignment actions, which remain underway and we are not able to reasonably estimate.

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The following table summarizes the activity related to exit and realignment cost accruals, which are generally classified as other current liabilities in our condensed consolidated balance sheets, through June 30, 2025 and 2024:

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​	​	​	​
​		Total
Accrued exit and realignment costs, December 31, 2024	​	$	6,732
Provision for exit and realignment activities:	​
Professional fees	​		6,176
IT strategic initiatives and other	​		304
Cash payments	​		(7,516)
Accrued exit and realignment costs, March 31, 2025	​		5,696
Provision for exit and realignment activities:	​	​	​
Professional fees	​	​	1,916
IT strategic initiatives and other	​	​	192
Cash payments	​	​	(6,119)
Accrued exit and realignment costs, June 30, 2025	​	$	1,685
​	​	​	​
Accrued exit and realignment costs, December 31, 2023	​	$	3,109
Provision for exit and realignment activities:	​
Professional fees	​	​	5,685
IT strategic initiatives and other	​	​	2,435
Cash payments	​		(2,463)
Accrued exit and realignment costs, March 31, 2024	​	​	8,766
Provision for exit and realignment activities:	​
Professional fees	​		12,453
IT strategic initiatives and other	​		2,982
Cash payments	​		(3,600)
Accrued exit and realignment costs, June 30, 2024	​	$	20,601

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In addition to the exit and realignment accruals in the preceding table, we also incurred $0.4 million and $7.6 million of costs that were expensed as incurred for the three and six months ended June 30, 2025, which primarily related to wind-down costs of Fusion5.

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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
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-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
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-URI https://asc.fasb.org/420/tableOfContent

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

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