Restructuring Costs

6 Months Ended

Jun. 30, 2026

Restructuring and Related Activities [Abstract]

Voluntary Bridge to Retirement

During the second quarter of 2025, the Company initiated a VBR program to reduce operating costs and bridge certain long-tenured eligible employees to retirement. As part of this program, eligible employees were offered severance in the form of salary and benefit continuation. The provision for costs associated with the VBR program was included in selling, general and administrative on the unaudited condensed consolidated statements of operations. The total costs associated with the VBR program were $13.7 million. There are no further material costs expected to be incurred in relation to the VBR program. Payments are expected to continue through the first half of 2027.

The activity related to the VBR program was as follows:



(in thousands)	Six months ended June 30, 2026
Balance at beginning of period	$	9,855
Increase in provision for expected restructuring costs	62
Payments	(6,052)

Balance at end of period	$	3,865

The VBR program liabilities recognized on the unaudited condensed consolidated balance sheets were as follows:


(in thousands)	June 30,		December 31,
Balance Sheet Location	2026		2025


Accrued expenses and other current liabilities	$	3,865	$	9,033
Other noncurrent liabilities	—		822