Supplemental Information |
9 Months Ended |
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Sep. 30, 2026 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Supplemental Information | 12. Supplemental Information Stock-Based Awards Stock-based compensation recognized for awards authorized under the Company’s employee stock incentive plans during the three and nine months ended September 30, 2026 was $28.2 million and $62.7 million, respectively, and for the three and nine months ended September 30, 2025 was $13.1 million and $37.3 million, respectively. This was included as a component of stock-based compensation in Office and general expenses and Cost of services within the Unaudited Consolidated Statements of Operations. Certain of the Company’s subsidiaries grant awards to their employees providing them with an equity interest in the respective subsidiary (the “profits interests awards”). The profits interests awards generally provide the employee with the right, but not the obligation, to sell their profits interest in the subsidiary to the Company based on a performance-based formula and, in certain cases, receive a profit share distribution. The profits interests awards are primarily settled in cash, with certain awards having stock-settlement provisions at the Company’s discretion. The corresponding liability associated with these profits interests awards was $7.8 million and $12.8 million as of September 30, 2026 and December 31, 2025, respectively, and was included as a component of Accruals and other liabilities and Other Liabilities on the Unaudited Consolidated Balance Sheets. For the three months ended September 30, 2026, the change in the fair value of these awards resulted in an increase in stock-based compensation expense of $0.7 million. For the nine months ended September 30, 2026, the change in the fair value of these awards resulted in a decrease in stock-based compensation expense of $1.0 million. For the three months ended September 30, 2025, there was no stock-based compensation expense recorded for these awards. For the nine months ended September 30, 2025, the change in the fair value of these awards resulted in an increase in stock-based compensation expense of $8.0 million. This was included as a component of stock-based compensation in Cost of services within the Unaudited Consolidated Statements of Operations. Transfer of Accounts Receivable The Company transfers certain of its trade receivable assets to third parties under certain agreements. Per the terms of these agreements, the Company surrenders control over its trade receivables upon transfer. The trade receivables transferred to the third parties were $158.1 million, and $493.0 million for the three and nine months ended September 30, 2026, respectively, and were $122.6 million and $366.1 million for the three and nine months ended September 30, 2025, respectively. The amount collected and due to the third parties under these arrangements was $32.1 million, and $21.2 million as of September 30, 2026 and December 31, 2025, respectively, and was included as a component of Accruals and other liabilities on the Unaudited Consolidated Balance Sheets. Fees for these arrangements were recorded in Office and general expenses in the Unaudited Consolidated Statements of Operations and totaled $1.7 million, and $5.2 million for the three and nine months ended September 30, 2026, respectively, and totaled $1.3 million, and $4.1 million for the three and nine months ended September 30, 2025, respectively. Related Party Transactions In the ordinary course of business, the Company enters into transactions with related parties, including its affiliates. The transactions may range in the nature and value of services underlying the arrangements. The Company provides marketing and advertising services to a client where the founder of the client has a significant interest in the Company and recorded $8.3 million, and $18.7 million of related party revenue for the three and nine months ended September 30, 2026, respectively, and $1.1 million, and $3.0 million of related party revenue for the three and nine months ended September 30, 2025, respectively. As of September 30, 2026, amounts due from this related party totaled $5.0 million and were included in Accounts receivable, net on the Unaudited Consolidated Balance Sheets. During the three and nine months ended September 30, 2026, the Company extended short-term cash advances to certain employees. These advances are due within one year from the date of issuance. As of September 30, 2026, the outstanding balance of employee advances was $27.5 million and was included in Other current assets on the Unaudited Consolidated Balance Sheets. Defined Benefit Pension Plan Settlement During the three and nine months ended September 30, 2026, the Company completed a settlement of its frozen defined benefit pension obligation. All active and deferred participants were given the choice to receive their benefit in the form of a lump sum payment or continuing annuity through an insurance company. The plan was sponsored by one of the subsidiaries of the Company. In connection with the settlement, the Company recognized a pre-tax settlement gain of $3.4 million, in Other, net in the Unaudited Consolidated Statements of Operations.
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