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STOCKHOLDERS’ EQUITY
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
STOCKHOLDERS’ EQUITY STOCKHOLDERS’ EQUITY
Capital Return Program

The Company has a Board of Directors approved capital return program under which the Company may expend a total of up to $700 million for share repurchases and payment of dividends. Future share repurchases may be effected in various ways, which could include open-market or private repurchase transactions, accelerated stock repurchase programs, tender offers or other transactions. The amount, timing and terms of any return of capital transaction will be determined based on prevailing market conditions and other factors. There is no fixed time period to complete share repurchases. As of June 30, 2026 (Successor) and December 31, 2025 (Successor), $95.5 million was available for use under the capital return program. There was no share repurchase activity under the capital return program and no cash dividends paid during all periods presented in the Company’s condensed consolidated financial statements.

Preferred Stock

The Company has authorized the issuance of up to 10 million shares of $0.01 par value preferred stock. As of June 30, 2026 (Successor) and December 31, 2025 (Successor), no shares of preferred stock have been issued.

Shares Outstanding

As of June 30, 2026 (Successor), the Company had 48,988,040 common shares issued and outstanding. Certain awards under the Company’s equity incentive plans, as well as penny warrants issued in connection with its strategic business transactions, are expected to result in the issuance of common shares in future periods, with the penny warrants being contingent on their exercise. These incremental shares are summarized below:

Penny Warrants11,619,725
Outstanding awards under Equity Incentive Plans2,897,120
14,516,845
Accumulated Other Comprehensive Income

The following tables reflect the changes in Accumulated other comprehensive income by component:
Successor
(in thousands)Foreign Currency Translation AdjustmentBenefit Plans
Cash Flow Hedges(1)
Net Investment HedgesTotal
Accumulated other comprehensive income (loss) as of December 31, 2025 (Successor)
$126,567 $18 $(16,729)$(40,435)$69,421 
Other comprehensive loss before reclassifications(19,142)— (2,940)— (22,082)
Reclassifications from accumulated other comprehensive income (loss)(2)(3)
— — 7,248 — 7,248 
Tax effect4,195 — (1,078)60 3,177 
Net current period other comprehensive (loss) income(14,947)— 3,230 60 (11,657)
Amount attributable to non-controlling interest4,496 — — — 4,496 
Accumulated other comprehensive income (loss) as of June 30, 2026 (Successor)
$116,116 $18 $(13,499)$(40,375)$62,260 
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(1)    As of June 30, 2026 (Successor), approximately $8.1 million of existing gains and losses are estimated to be reclassified into earnings within the next 12 months.
(2)    Includes $7.5 million reclassification due to de-designation of its interest rate contracts as cash flow hedges. Refer to Note 10 “Derivative Instruments” for further information.

Predecessor
(in thousands)Foreign Currency Translation AdjustmentBenefit PlansCash Flow HedgesNet Investment HedgesTotal
Accumulated other comprehensive (loss) income as of December 31, 2024 (Predecessor)
$(261,745)$1,746 $(8,189)$7,921 $(260,267)
Other comprehensive (loss) income before reclassifications(13,097)— 1,425 3,655 (8,017)
Reclassifications from accumulated other comprehensive (loss) income to earnings— — (105)7 (98)
Tax effect— — (352)(976)(1,328)
Net current period other comprehensive (loss) income(13,097)— 968 2,686 (9,443)
Amount attributable to non-controlling interest— — — — — 
Accumulated other comprehensive (loss) income as of February 07, 2025 (Predecessor)
$(274,842)$1,746 $(7,221)$10,607 $(269,710)
Successor
(in thousands)Foreign Currency Translation AdjustmentCash Flow HedgesNet Investment HedgesTotal
Accumulated other comprehensive (loss) income as of February 8, 2025 (Successor)
$— $— $— $— 
Other comprehensive income (loss) before reclassifications198,030 (28,414)(72,670)96,946 
Reclassifications from accumulated other comprehensive income (loss) to earnings— 1,383 1,405 2,788 
Tax effect(52,548)7,203 18,990 (26,355)
Net current period other comprehensive income (loss)145,482 (19,828)(52,275)73,379 
Amount attributable to non-controlling interest— — — — 
Accumulated other comprehensive income (loss) as of June 30, 2025 (Successor)
$145,482 $(19,828)$(52,275)$73,379