v3.26.3
Divestiture
9 Months Ended
Sep. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Divestiture
Note 9. Divestiture

In 2024, the Company completed the acquisition of Wincanton plc (now Wincanton Limited) (the “Wincanton Acquisition”). The Wincanton Acquisition was subject to review by the U.K. Competition and Markets Authority (the “CMA”). In 2025, the CMA approved the Wincanton Acquisition, subject to the divestment of certain grocery contracts in the U.K. (the “Wincanton Divestment”).

In the fourth quarter of 2025, the Company met the held-for-sale criteria for the anticipated Wincanton Divestment and recorded a $37 million write-down loss, including $4 million of goodwill, $21 million of customer relationships, and a $12 million fair value adjustment. For the three and nine months ended September 30, 2026, the Company recorded additional impairment of $1 million and $24 million, respectively, due to a further reduction in estimated fair value. In September 2026, the Company completed the Wincanton Divestment and paid $38 million in cash in connection with the transaction.

As of December 31, 2025, Assets and liabilities held for sale were not material and are included in Other current assets and Other current liabilities, respectively, in the Condensed Consolidated Balance Sheets.