Annual report [Section 13 and 15(d), not S-K Item 405]

Restructuring Activity (Tables)

v3.25.4
Restructuring Activity (Tables)
12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Summary of Restructuring and Related Costs
The following table presents the activity related to the restructuring plans, which is included in restructuring charges in the consolidated statements of operations:
Year Ended December 31,
2025 2024 2023
(in thousands)
Employee separation expenses $ 6,927  $ 28,920  $ 17,897 
Lease related charges 449  7,213  42 
Other 17,149  17,246  1,847 
$ 24,525  $ 53,379  $ 19,786 
Summary of Restructuring Reserve by Type of Cost
The following table presents a roll-forward of the Company’s restructuring liability for the years ended December 31, 2025 and 2024. The restructuring liability is included in accrued expenses and other current liabilities and other long-term liabilities in the consolidated balance sheets.
Employee Separation Expenses Lease Related Charges Other Total
(in thousands)
Liability as of December 31, 2023 $ 7,383  $ (2) $ 920  $ 8,301 
Restructuring charges 28,920  7,213  17,246  53,379 
Cash payments (33,221) (183) (1,108) (34,512)
Non-cash charges and adjustments 976  (5,731) (6,702) (11,457)
Liability as of December 31, 2024 4,058  1,297  10,356  15,711 
Restructuring charges 6,927  449  17,149  24,525 
Cash payments (7,968) (453) (5,437) (13,858)
Non-cash charges and adjustments (160) (435) (10,825) (11,420)
Liability as of December 31, 2025 2,857  858  11,243  14,958 
Less: current portion as of December 31, 2025 (2,857) (858) (9,675) (13,390)
Long-term portion as of December 31, 2025 $ —  $ —  $ 1,568  $ 1,568