RESTRUCTURING |
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Mar. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RESTRUCTURING | RESTRUCTURING During the fourth quarter of 2025, the Company initiated a second U.K.-wide restructuring plan (the “2025 Restructuring Plan”) to continue to reduce costs in the U.K. segment. The 2025 Restructuring Plan consists of further workforce realignment and strategic closing of certain facilities. The 2025 Restructuring Plan is expected to continue throughout 2026, and the Company does not expect additional restructuring charges to be material. Any changes to the Company’s estimates or timing of such charges will be reflected in the Company’s results of operations in future periods. The Company’s first U.K.-wide restructuring plan (the “2024 Restructuring Plan”), related to the integration of Inchcape Retail with its existing U.K. operations, was completed in 2025. All associated restructuring charges were fully recognized in 2025. The components of total restructuring charges were as follows (in millions):
Charges associated with Restructuring Plans are included within Restructuring Charges on the Condensed Consolidated Statements of Operations. As of March 31, 2026, the Company has incurred $9.6 million of restructuring charges related to the 2025 Restructuring Plan since the commencement of the plan. The following table presents the changes in restructuring related liabilities (in millions):
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