ICON PLC
For the period ended Sep 30, 2025. Filed Oct 23, 2025.
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Sep 30, 2025 · Filed Oct 23, 2025
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8. Restructuring
- Restructuring
In the nine months ended September 30, 2025, a restructuring charge of $82.3 million(September 30, 2024:$45.8 million) was recorded in the Condensed Consolidated Statement of Operations.
The restructuring plan reflected a workforce reduction of $75.6 million(September 30, 2024:$31.7 million) and an office consolidation program to optimize the Company's office footprint of $6.7 million (September 30, 2024: $14.1 million), being the impairment of operating right-off-use assets and related property plant and equipment of $5.6 million (September 30, 2024: $12.6 million) and onerous contract costs of $1.1 million (September 30, 2024: $1.5 million).
| Three Months Ended | Nine Months Ended | |||
|---|---|---|---|---|
| September 30,2025 | September 30,2024 | September 30,2025 | September 30,2024 | |
| (in thousands) | ||||
| Restructuring charges | $— | $— | $82,296 | $45,789 |
| Total | $— | $— | $82,296 | $45,789 |
At September 30, 2025, a total liability of $21.4 million (December 31, 2024: $31.5 million) was recorded on the Condensed Consolidated Balance Sheet relating to restructuring activities.
| Nine Months Ended | Year Ended | |
|---|---|---|
| September 30,2025 | December 31, 2024 | |
| (in thousands) | ||
| Opening provision | $31,474 | $6,999 |
| Charge during the period* | 76,723 | 76,392 |
| Utilization | (86,822) | (51,917) |
| Closing provision | $21,375 | $31,474 |
*The charge for thenine months ended September 30, 2025 reflects the workforce reduction of$75.6 million (year ended December 31, 2024: $74.5 million) and onerous contract costs of $1.1 million (year ended December 31, 2024: $1.9 million).
The closing provision as of September 30, 2025 of$21.4 million (December 31, 2024: $31.5 million) reflects:
(1)$17.4 million (December 31, 2024: $27.7 million) of personnel related liabilities as a result of the workforce reduction; all of which have been classified as current within Other Liabilities, and
(2)$4.0 million (December 31, 2024: $3.8 million) of facilities related liabilitiesof which $1.4 million (December 31, 2024: $1.4 million) is included within Other Liabilities and $2.6 million (December 31, 2024: $2.4 million) is included within Non-Current Other Liabilities.
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