Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of domestic and foreign components of loss before income tax provision

	Successor		Predecessor
	Consolidated		Combined and Consolidated
	Period from August 1, 2025 through December 31, 2025		Period from January 1, 2025 through July 31, 2025		Year Ended December 31, 2024
United States	$	(343,871)	$	1,491,457	$	(214,395)
Foreign		(2,241)		(924)		9,254
	$	(346,112)	$	1,490,533	$	(205,141)

Schedule of income tax provision

	Successor		Predecessor
	Consolidated		Combined and Consolidated
	Period from August 1, 2025 through December 31, 2025		Period from January 1, 2025 through July 31, 2025		Year Ended December 31, 2024
Federal
Current	$	511	$	(3,374)	$	3,693
Deferred		(764)		31,705		245
State
Current		21		392		1,035
Deferred		1,372		4,591		(62)
Foreign
Current		4,090		2,461		4,342
Deferred		(219)		100		756
Income Tax Expense	$	5,011	$	35,875	$	10,009

Schedule of reconciliation of the significant differences between the federal statutory income tax and the effective income tax on pretax loss

The differences between income taxes expected by applying the U.S. federal statutory tax rate of 21% and the amount of income taxes provided for period from August 1, 2025 through December 31, 2025 (Successor) and period from January 1, 2025 through July 31, 2025 (Predecessor) are as follows:

	Successor				Predecessor
	Consolidated				Combined and Consolidated
	Period from August 1, 2025 through December 31, 2025				Period from January 1, 2025 through July 31, 2025
	Amount		Percent		Amount		Percent
U.S. Federal Statutory Tax Rate	$	(72,684)	21.0	%	$	313,013	21.0	%
State and Local Income Taxes, Net of Federal Income Tax Effect (1)		1,100	(0.3)			3,936	0.3
Foreign Tax Effects		1,664	(0.5)			2,051	0.1
Effect of Cross-Border Tax Laws		335	(0.1)			297	0.0
Tax Credits		(143)	0.0			(79)	(0.0)
Changes in Valuation Allowances		4,347	(1.3)			(256,058)	(17.1)
Nontaxable or Nondeductible Items:
Restructuring gain		—	—			(314,376)	(21.1)
Fresh start		—	—			278,575	18.7
Goodwill impairment		67,262	(19.4)			—	—
Other		755	(0.2)			8,061	0.5
Other Adjustments:
Uncertain tax positions		2,375	(0.7)			455	0.0
Effective Tax Rate	$	5,011	(1.5)	%	$	35,875	2.4	%

(1) State taxes in California, Minnesota, New York, and New York City made up the majority (greater than 50%) of the tax effect in this category for the period from August 1, 2025 through December 31, 2025 (Successor), and state taxes in California, Illinois, Minnesota, and New York made up the majority (greater than 50%) of the tax effect in this category for the period from January 1, 2025 through July 31, 2025 (Predecessor).

	Predecessor
	Combined and Consolidated
	Year Ended December 31, 2024
Tax at statutory rate	$	(43,080)
Add (deduct)
State income taxes		(4,276)
Foreign income taxes		(77)
Nondeductible goodwill impairment		22,854
Permanent differences		1,878
Changes in valuation allowance		28,788
Unremitted earnings		734
GILTI Inclusion		282
Uncertain tax positions		2,499
Other		407
Income Tax Expense	$	10,009

Schedule of cash flow, supplemental disclosures

	Successor		Predecessor
	Consolidated		Combined and Consolidated
	Period from August 1, 2025 through December 31, 2025		Period from January 1, 2025 through July 31, 2025
Federal	$	63	$	25
Texas		—		365
State Other		74		613
India		1,422		1,764
Netherlands		219		—
Germany		991		—
Foreign Other		180		130
	$	2,949	$	2,897

Schedule of components of our deferred taxes liabilities and assets

	Successor		Predecessor
	Consolidated		Combined and Consolidated
	December 31,		December 31,
	2025		2024
Deferred income tax liabilities:
Book over tax basis of intangible assets and fixed assets	$	(75,921)	$	(25,247)
Unremitted foreign earnings		(10,967)		(10,341)
Operating lease and finance lease right-of-use assets		(5,441)		(6,349)
Other, net		(2,793)		(1,607)
Total deferred income tax liabilities	$	(95,122)	$	(43,544)
Deferred income tax assets:
Allowance for credit losses and receivable adjustments	$	1,947	$	1,722
Inventory		319		3,064
Accrued liabilities		10,135		15,391
Net operating loss and tax credit carryforwards		51,490		15,495
Tax deductible goodwill		—		1,665
Disallowed interest deduction		125,167		267,032
Operating lease and finance lease liabilities		5,896		6,512
Sec 174 Costs		—		1,991
Debt and credit facilities		—		130,062
Other, net		4,499		3,737
Total deferred income tax assets	$	199,453	$	446,671
Valuation allowance		(156,926)		(416,245)
Total net deferred income tax liabilities	$	(52,595)	$	(13,118)

Schedule of NOL carryforwards expire

			State and Local
	Federal NOL		NOL		Foreign NOL
2026–2030	$	—	$	31,874	$	395
2031–2035		—		59,546		—
2036–2044		—		152,284		—
Indefinite		5,071		79,854		33,922
	$	5,071	$	323,558	$	34,317

Schedule of total amounts of unrecognized tax benefits

	Successor		Predecessor
	Consolidated		Combined and Consolidated
	Period from August 1, 2025 through December 31, 2025		Period from January 1, 2025 through July 31, 2025		Year Ended December 31, 2024
Unrecognized tax benefits—opening balance	$	3,225	$	3,541	$	2,221
Gross increases—tax positions in prior period		8		—		1,531
Gross decreases—tax positions in prior period		(203)		—		—
Gross increases—tax positions in current period		1,336		134		(32)
Settlement		—		(296)		—
Lapse of statute of limitations		(34)		(154)		(179)
Unrecognized tax benefits—closing balance	$	4,332	$	3,225	$	3,541