Restructuring |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring | Restructuring Restructuring charges may include employee severance and related separation costs and lease related costs associated with office space reductions. Employee severance and related separation costs are recognized when a liability is incurred and the amount to be paid is both probable and reasonably estimated. The Company recorded $4.4 million of restructuring costs during the three months ended September 30, 2026, of which $4.0 million was related to employee transition, severance, benefits, and related costs and $0.4 million was related to costs associated with office space reductions, including $0.1 million of right-of-use asset impairment charges. The Company recorded $17.3 million of restructuring costs during the nine months ended September 30, 2026, of which $15.7 million was related to employee transition, severance, benefits, and related costs and $1.6 million was related to costs associated with office space reductions, including $0.3 million of right-of-use asset impairment charges. The Company recorded $2.0 million of restructuring costs during the three months ended September 30, 2025, of which $1.7 million was related to employee transition, severance, benefits, and related costs and $0.3 million was related to costs associated with office space reductions, including $0.1 million of right-of-use asset impairment charges. The Company recorded $12.0 million of restructuring costs during the nine months ended September 30, 2025, of which $10.6 million was related to employee transition, severance, benefits, and related costs and $1.4 million was related to costs associated with office space reductions, including $0.5 million of right-of-use asset impairment charges. The Company expects that pre-tax restructuring costs for the year ending December 31, 2026 will be approximately $20.0 million. The remaining charges will primarily relate to employee transition, severance, and benefits and other costs, including costs associated with office space reductions. The portion of these expenses that are to be settled by cash disbursements was accounted for as a restructuring liability under the line item “Accrued expenses and other current liabilities” in the Company's Condensed Consolidated Balance Sheets. The table below summarizes the accrual and charges incurred and cash payments made with respect to the Company's restructurings, with the severance related portion included in the line item “Accrued compensation” and the lease termination and other related portion included in the line item “Accrued expenses and other current liabilities” in the Company's Condensed Consolidated Balance Sheets as of September 30, 2026 (in thousands):
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