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Restructuring Costs | 6 Months Ended
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Jun. 30, 2026
Restructuring and Related Activities [Abstract] |
Restructuring Costs | Restructuring Costs Restructuring activities reflect programs that fundamentally change our operations, such as divestitures, closing or consolidating facilities, employee severance charges (including rationalizing headcount or other significant changes in personnel) and realignment of existing operations (including changes in management structure in response to underlying performance and/or changing market conditions). In February 2026, we announced an enterprise-wide transformation plan that is designed to improve operating performance and unlock new value through targeted annualized enterprise EBITDA growth. We expect to fully operationalize this plan by the end of 2028 through cost savings and revenue growth initiatives that will leverage technology including artificial intelligence and automation and increase revenue yield on our existing businesses. Restructuring costs in the second quarter of 2026 and 2025 totaled $35.8 million and $0.6 million, respectively. Year-to-date restructuring costs totaled $36.5 million and $4.8 million in 2026 and 2025, respectively. Restructuring costs in 2026 included $12.1 million in asset losses following strategic programming assessments, severance charges of $4.5 million, operating lease exit costs of $3.5 million and contract exit costs of $2.7 million. Remaining 2026 restructuring costs consisted of $13.7 million in outside consulting fees associated with the enterprise-wide transformation plan. Restructuring costs in 2025 included severance charges of $2.6 million and operating lease exit costs of $2.1 million related to prior strategic reorganization efforts.
Six Months Ended June 30, 2026 and 2025 (in thousands) |  | Severance and Employee Benefits |  | Other Restructuring Charges |  | Total
Liability as of December 31, 2025 |  | $ | — |  |  | $ | 2,535 |  |  | $ | 2,535 |
Net charges |  | 4,543 |  |  | 31,941 |  |  | 36,484 |
Payments |  | (1,124) |  |  | (13,504) |  |  | (14,628) |
Non-cash (a) |  | — |  |  | (14,857) |  |  | (14,857) |
Liability as of June 30, 2026 |  | $ | 3,419 |  |  | $ | 6,115 |  |  | $ | 9,534 |
Liability as of December 31, 2024 |  | $ | 9,653 |  |  | $ | — |  |  | $ | 9,653 |
Net charges |  | 2,618 |  |  | 2,139 |  |  | 4,757 |
Payments |  | (12,271) |  |  | (180) |  |  | (12,451) |
Non-cash (a) |  | — |  |  | (1,397) |  |  | (1,397) |
Liability as of June 30, 2025 |  | $ | — |  |  | $ | 562 |  |  | $ | 562 |
(a) Represents share-based compensation costs and asset write-downs included in restructuring charges.

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- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References No definition available. + Details
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