As of June 30, 2025, we completed a restructuring and reduction in force plan (the “Plan”). In the three and six months ended June 30, 2025, we recorded restructuring charges of approximately $19.8 million associated with the Plan, consisting of $17.6 million of severance payments, employee benefits and related costs (including approximately $2.2 million in non-cash charges for stock-based compensation), and $2.2 million of professional fees. Restructuring charges of $8.2 million were recorded in Billboard, $3.6 million were recorded in Transit and $8.0 million were recorded in Corporate.

Restructuring reserves related to severance payments, employee benefits and related costs remain outstanding and are included in Accrued compensation on the Consolidated Statement of Financial Position, as follows:


(in millions)	Severance, Employee Benefits, and Related Costs
As of December 31, 2025	$	6.6


Liabilities settled	(4.9)
As of June 30, 2026	$	1.7