Restructuring

3 Months Ended

Mar. 31, 2026

Restructuring and Related Activities [Abstract]

Restructuring

Restructuring. In the fourth quarter of 2025, the Company initiated its Operational Evolution Program (OEP). The OEP is meant to improve efficiency and streamline the organization structure of the Company. The total amount expected to be incurred in relation to the OEP is $95, which includes $28 and $17 related to our Banking and Retail segments, respectively. As of March 31, 2026, the Company has recognized total cumulative restructuring charges of $50.9, which includes $16.0 and $9.0 related to our Banking and Retail segments, respectively. The most significant expense primarily relates to headcount reduction. Total restructuring charges related to the OEP for the three months ended March 31, 2026 were $6.0 and $6.1 in our Banking and Retail segments, respectively, which includes costs related to a non-core business in APMEA.

Completed Plans. During the fourth quarter of 2023, the Company introduced its continuous improvement initiative, which focused on consistently innovating its solutions to support a better transaction experience for consumers at bank and retail locations while simultaneously streamlining cost structures and business processes through the integration of hardware, software and services. The Company completed this program in the fourth quarter of 2025. The most significant expense for the three months ended March 31, 2025 primarily relates to headcount reduction and redefining the organization structure in relation to the improvement process. Total restructuring charges for the three months ended March 31, 2025 for the Banking and Retail segments were $3.4 and $7.1, respectively. Total restructuring charges also includes corporate charges that are not allocated to the segments.

The following tables summarizes the impact of the Company’s restructuring charges on the Consolidated Statements of Earnings:

	Three months ended March 31,
	2026		2025
Cost of sales – services	$	11.5	$	10.5
Cost of sales – products	0.6		0.3
Selling and administrative expense	11.9		6.8
Research, development and engineering expense	—		2.4
Total	$	24.0	$	20.0

The following table summarizes the Company’s severance accrual balance and related activity:

	2026		2025
Beginning balance as of January 1	$	41.4	$	15.9
Severance accrual	10.9		15.2
Payout/Settlement	(9.5)		(11.0)
Other	(0.1)		0.1
Ending balance as of March 31	$	42.7	$	20.2