RESTRUCTURING INITIATIVES

6 Months Ended

Jun. 30, 2025

Restructuring and Related Activities [Abstract]

For the three and six months ended June 30, 2025, we recognized $1.6 million and $3.6 million, respectively, of restructuring costs related to our initiatives to better leverage our fixed cost base through growth and cost reduction measures. For the three and six months ended June 30, 2024, we recognized $2.3 million and $5.8 million of restructuring costs related to these initiatives, respectively. The cumulative expense incurred as of June 30, 2025 was $68.3 million.

As of June 30, 2025, we have recorded the following activity associated with our optimization initiatives:


	Beginning Reserve at December 31, 2024		Net Charges for the Six Months Ended June 30, 2025		Cash Paid		Interest and FX Impact		Ending Reserve at June 30, 2025
Employee severance	$	9,161	$	362	$	(3,568)	$	691	$	6,646
Professional fees and other costs	796		3,259		(3,451)		5		609
Totals	$	9,957	$	3,621	$	(7,019)	$	696	$	7,255

As of June 30, 2024, we have recorded the following activity associated with our optimization initiatives:


	Beginning Reserve at December 31, 2023		Net Charges for the Six Months Ended June 30, 2024		Cash Paid		Interest and FX Impact		Ending Reserve at June 30, 2024
Employee severance	$	27,078	$	2,890	$	(9,179)	$	(311)	$	20,478
Professional fees and other costs	2,810		2,922		(2,403)		(15)		3,314
Totals	$	29,888	$	5,812	$	(11,582)	$	(326)	$	23,792