ICON PLC
For the period ended Jun 30, 2026. Filed Jul 30, 2026.
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Jun 30, 2026 · Filed Jul 30, 2026
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8. Restructuring
- Restructuring
In the six months ended June 30, 2026, a $31.0 million restructuring charge was recorded in the Condensed Consolidated Statement of Operations under a restructuring plan reflecting a workforce reduction. In thesix months ended June 30, 2025 a restructuring charge of $82.3 million was recorded, which reflected a workforce reduction of$75.6 million and an office consolidation program to optimize the Company's office footprint of$6.7 million.
| Three Months Ended | Six Months Ended | |||
|---|---|---|---|---|
| June 30,2026 | June 30,2025 | June 30,2026 | June 30,2025 | |
| (in thousands) | ||||
| Restructuring charges | $20,904 | $42,950 | $30,980 | $82,296 |
| Total | $20,904 | $42,950 | $30,980 | $82,296 |
At June 30, 2026, a total liability of $23.2 million (December 31, 2025: $12.5 million) was recorded on the Condensed Consolidated Balance Sheet relating to restructuring activities.
| Six Months Ended | Year Ended | |
|---|---|---|
| June 30,2026 | December 31, 2025 | |
| (in thousands) | ||
| Opening provision | $12,525 | $31,474 |
| Charge during the period | 30,980 | 75,386 |
| Utilization | (20,308) | (94,335) |
| Closing provision | $23,197 | $12,525 |
The closing provision as at June 30, 2026 of $23.2 million (December 31, 2025: $12.5 million) reflects:
(1) $21.1 million (December 31, 2025:$9.1 million) of personnel related liabilities as a result of the workforce reduction; all of which have been classified as short-term within Other Liabilities, and
(2) $2.1 million (December 31, 2025: $3.4 million) of facilities related liabilities of which $0.5 million (December 31, 2025: $1.3 million) is included within Other Liabilities and $1.6 million (December 31, 2025: $2.1 million) is included within Non-Current Other Liabilities.
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