RESTRUCTURING

3 Months Ended

Mar. 31, 2025

Restructuring and Related Activities [Abstract]

Restructuring costs for ongoing employee benefit arrangements, inclusive of statutory requirements, are recognized in accordance with ASC 712, Compensation - Non-retirement Post-employment Benefits when it becomes probable that an obligation has been incurred and the amount can be reasonably estimated. If applicable, the Company recognizes restructuring costs over the terminated employees’ remaining service period. The liabilities for restructuring costs are recognized in Accounts payable and other accrued liabilities on the condensed consolidated balance sheets.

In 2024, the Company announced a workforce reduction of approximately 300 employees as part of a reorganization aimed at prioritizing strategic growth and driving long-term efficiencies (the “2024 Restructuring”). The Company provided severance and other termination benefits to impacted employees.

During the three months ended March 31, 2025, the Company initiated additional actions under the 2024 Restructuring, including a secondary workforce reduction of approximately 65 employees, representing 5% of its workforce at that time and incurred approximately $3 million in post-employment benefits and other cost reduction efforts. Payments are expected to be substantially completed by the second quarter of 2025.

The following table presents the activity of the restructuring liability as of March 31, 2025 (in millions):


	March 31, 2025



Balance-December 31, 2024	$	7
Additions charged to expense	3
Cash payments	(6)
Balance- March 31, 2025	$	4