RESTRUCTURING AND OTHER CHARGES (RECOVERIES) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RESTRUCTURING AND OTHER CHARGES (RECOVERIES) | RESTRUCTURING AND OTHER CHARGES (RECOVERIES)
(a) Restructuring charges: Our restructuring activities consisted primarily of actions to adjust our cost base to address reduced levels of demand in certain of our businesses and geographies. In Q1 2026 and Q1 2025, our restructuring charges consisted primarily of cash charges related to employee terminations. At March 31, 2026, our restructuring provision was $3.6 (December 31, 2025 — $4.4), which we recorded in accrued and other current liabilities and provisions on our consolidated balance sheets. (b) Transition Recoveries: See note 14 to the 2025 AFS for a description of Transition Costs and Transition Recoveries. In Q1 2026, we recorded Transition Recoveries of $3.4, reflecting the gain on the disposal of certain real properties. (c) Acquisition costs: Acquisition costs consisted of consulting, transaction and integration costs related to potential and completed acquisitions. In Q1 2026, we recorded acquisition costs of $3.4 (Q1 2025 — $0.6). (d) Other charges (recoveries): In April 2024, we completed the acquisition of 100% of the interests of NCS Global Services LLC (NCS). The NCS acquisition agreement includes a potential earn-out of up to $20 if certain adjusted earnings before interest, taxes, depreciation and amortization targets are achieved during the period from May 2024 to April 2025. The fair value of such potential earn-out was estimated to be $6.6 at the acquisition date. During Q1 2026, the liability was re-measured to nil as the required targets were not met, resulting in a $6.6 gain. In Q1 2025, we recorded other charges of $1.1 related to our transition to a U.S. domestic filer.
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