XML 35 R22.htm IDEA: XBRL DOCUMENT
v3.20.2

Employee benefit plans | 6 Months Ended
--- | ---
Jun. 30, 2020
Employee benefit plans |
Employee benefit plans | 13. Employee benefit plans Defined Contribution Plans We have a defined contribution plan qualified under Section 401(k) of the Internal Revenue Code covering all U.S. employees and defined contribution plans for other Incyte employees in Europe and Japan. Employees may contribute a portion of their compensation, which is then matched by us, subject to certain limitations. Defined contribution expense for the three and six months ended June 30, 2020 was $3.3 million and $6.6 million, respectively. Defined contribution expense for the three and six months ended June 30, 2019 was $3.1 million and $6.0 million, respectively. Defined Benefit Pension Plans We have defined benefit pension plans for our employees in Europe which provide benefits to employees upon retirement, death or disability. The assets of the pension plans are held in collective investment accounts represented by the cash surrender value of an insurance policy and are classified as Level 2 within the fair value hierarchy. The net periodic benefit cost was as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended | ​
​ | ​ | June 30, | ​ | June 30, | ​
​ |  | 2020 | ​ | 2019 |  | 2020 | ​ | 2019 |
Service cost |  | $ | 1,477 | ​ | $ | 1,288 |  | $ | 2,934 | ​ | $ | 2,550 |
Interest cost |  | ​ | 47 | ​ | ​ | 86 |  | ​ | 93 | ​ | ​ | 169 |
Expected return on plan assets |  | ​ | (31) | ​ | ​ | (61) |  | ​ | (61) | ​ | ​ | (120) |
Amortization of prior service cost |  | ​ | 53 | ​ | ​ | 62 |  | ​ | 107 | ​ | ​ | 107 |
Amortization of actuarial losses | ​ | ​ | 167 | ​ | ​ | 46 | ​ | ​ | 334 | ​ | ​ | 112 | ​
Net periodic benefit cost |  | $ | 1,713 | ​ | $ | 1,421 |  | $ | 3,407 | ​ | $ | 2,818 |
​ The components of net periodic benefit cost other than the service cost component are included in other income (expense), net on the condensed consolidated statements of operations. We expect to contribute a total of $4.0 million to the pension plans in 2020 inclusive of the amounts contributed to the plan during the current period. As of June 30, 2020 and December 31, 2019, $25.2 million and $24.1 million, respectively, of accrued pension obligation is recorded in other long term liabilities on the condensed consolidated balance sheets.

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration