Restructuring Charges

12 Months Ended

Dec. 31, 2025

Restructuring and Related Activities [Abstract]

Restructuring Charges

Restructuring Charges

2025 Plan

During the third quarter of 2025, we approved a targeted restructuring plan which was not anticipated to be material. In October 2025, we finalized an additional organizational review, that together with the targeted restructuring plan, will comprise a worldwide restructuring plan (the "2025 Plan"). Under the 2025 Plan, we expect to eliminate 300-400 positions and incur total charges of $35 million-$45 million. We expect these actions will be completed by the first half of 2026 and will generate annualized savings of $35 million-$50 million. During 2025, we eliminated approximately 360 positions and incurred charges of $36 million.

Additionally, in the fourth quarter of 2025, we made the decision to close our corporate office in Stamford, Connecticut effective December 31, 2025. As a result, we recorded an abandonment charge of $7 million.

2024 Plan

We completed our 2024 Plan in the second quarter of 2025. Under this plan, we eliminated approximately 3,200 positions and incurred cumulative charges of $89 million.

2023 Plan

We completed our 2023 Plan in the second quarter of 2024. Under this plan, we eliminated 1,049 positions and incurred cumulative charges of $69 million.

Activity in our restructuring reserves was as follows:

	2025 Plan		2024 Plan		2023 Plan		Total
Balance at December 31, 2023	$	—	$	—	$	26,128	$	26,128
Amounts charged to expense - continuing operations	—		66,294		10,621		76,915
Amounts charged to expense - discontinued operations	—		7,265		—		7,265
Cash payments	—		(50,150)		(35,874)		(86,024)
Noncash activity	—		(245)		(875)		(1,120)
Balance at December 31, 2024	—		23,164		—		23,164
Amounts charged to expense - continuing operations	43,186		15,206		—		58,392
Cash payments	(6,157)		(35,181)		—		(41,338)
Noncash activity	(6,989)		(1,396)		—		(8,385)
Balance at December 31, 2025	$	30,040	$	1,793	$	—	$	31,833

Components of restructuring expense in discontinued operations primarily include severance charges. Components of restructuring expense in continuing operations were as follows:

	Year Ended December 31, 2025
	2025 Plan		2024 Plan		Total
Severance	$	36,158	$	13,810	$	49,968
Facilities and other	7,028		1,396		8,424
Total	$	43,186	$	15,206	$	58,392

	Year Ended December 31, 2024
	2024 Plan		2023 Plan		Total
Severance	$	65,958	$	9,398	$	75,356
Facilities and other	336		1,223		1,559
Total	$	66,294	$	10,621	$	76,915

	Year Ended December 31, 2023
	2023 Plan		Prior Plan		Total
Severance	$	40,152	$	3,057	$	43,209
Facilities and other	8,661		542		9,203
Total	$	48,813	$	3,599	$	52,412