v3.26.1
Restructuring and Other Related Charges
3 Months Ended
Mar. 31, 2026
Restructuring and Related Activities [Abstract]  
Restructuring and Other Related Charges Restructuring and Other Related Charges
Restructuring and other related charges were $4.3 million for the three months ended March 31, 2026, with $1.7 million related to the Company's restructuring plan in its International segment ("International Plan"), which for the quarter consisted primarily of office closures in Latin America. The Company will incur additional restructuring charges in connection with the International Plan, which is expected to be substantially completed in the first half of 2026.
In October 2025, the Company announced a voluntary buyout program for U.S. employees, which resulted in modifications to the organizational structure of the Company and reduced employee costs. In connection with this program, the Company recognized $2.6 million of severance charges during the first quarter of 2026 and expects to recognize approximately $1 million of additional severance charges in 2026 related to employees who are providing ongoing service subsequent to March 31, 2026 in order to receive benefits under the program.
Restructuring and other related charges were $4.8 million for the three months ended March 31, 2025, primarily related to the planned wind-down of a joint venture held by the Company's U.K. business with operations in EMEA as part of its International segment, as well as the commencement of the International Plan in Southern Europe.
The following table summarizes the restructuring and other related charges (credits) recognized by operating segment:
Three Months Ended March 31,
(In thousands)20262025
Domestic Operations$1,997 $(1,571)
International1,669 6,360 
Total segment restructuring and other related charges$3,666 $4,789 
Restructuring and other related charges that were not allocated to operating segments were $0.6 million for the three months ended March 31, 2026. There were no restructuring and other related charges that were not allocated to operating segments for the three months ended March 31, 2025.
The following table summarizes accrued restructuring and other related costs:
(In thousands)Severance and Employee-Related CostsContent Impairments and Other Exit CostsTotal
Balance at December 31, 2025$14,603 $1,842 $16,445 
Charges4,338 — 4,338 
Cash payments(10,974)(7)(10,981)
Other(26)(25)
Balance at March 31, 2026$7,941 $1,836 $9,777 
Accrued restructuring and other related costs of $9.8 million and $16.4 million are included in Accrued liabilities in the condensed consolidated balance sheets at March 31, 2026 and December 31, 2025, respectively.