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Retirement Plans
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Retirement Plans Retirement Plans
Deferred Compensation Plan
Under the Company’s unfunded DCP, certain officers and key employees may defer all or any part of their incentive compensation, and the Company may make discretionary awards on behalf of such participants. Elective participant deferrals and discretionary Company awards are received in the form of phantom shares of the Company’s Class B Common Stock, which are valued for tax and accounting purposes in the same manner as actual shares of Class B Common Stock, and are recorded as stock‑based compensation expense in the consolidated statements of operations (see Note 15).
In August 2021, the Company’s board of directors approved an amendment to the DCP, which offered to certain active executives in the DCP a one‑time, short‑term election to reallocate a limited portion of their DCP holdings from phantom shares of the Company’s Class B Common Stock into other DCP phantom investment funds. The offer to reallocate was subject to a proration mechanism which adjusted the aggregate elections to a maximum of 1,500,000 phantom shares of the Company’s Class B Common Stock. This resulted in a reduction of 1,500,000 shares in both the basic and diluted count of Company shares.
While DCP participants’ investments in phantom shares remain equity classified, as they will be settled in shares of Class B Common Stock upon eventual distribution, the amendment and elections resulted in a change to liability classification for the reallocated phantom investments, as they will be settled in cash upon eventual distribution. As a result, during the year ended December 31, 2021, the Company reclassified cumulative compensation cost of $4,739 from Additional paid-in capital to Accruals and other current liabilities or Deferred compensation plan liabilities in the consolidated balance sheet and recognized a compensation charge of $90,721 to Deferred compensation plan expenses in the consolidated statements of operations to record the reallocated deferred compensation plan liabilities at their fair value of $95,460. Subsequent to the one‑time reallocation, these diversified deferred compensation plan liabilities are marked to market at the end of each reporting period, with changes in the liabilities recorded as an expense (income) to Deferred compensation plan in the consolidated statements of operations.
Amounts in the DCP attributable to certain non‑colleague participants are settled in cash and are classified as liabilities in either Accruals and other current liabilities or Deferred compensation plan liabilities in the consolidated balance sheets. The deferred compensation plan liabilities are marked to market at the end of each reporting period, with changes in the liabilities recorded as an expense (income) to Deferred compensation plan in the consolidated statements of operations.
Deferred compensation plan expense was $95,046, $177, and $408 for the years ended December 31, 2021, 2020, and 2019, respectively.
For the years ended December 31, 2021, 2020, and 2019, DCP elective participant deferrals were $2,619, $3,530, and $3,586, respectively. No discretionary contributions were made to the DCP during the years ended December 31, 2021, 2020, and 2019. Pursuant to the terms of the DCP, in connection with the Special Dividend (see Note 1) declared on August 28, 2020, participants received 2,709,851 phantom shares in lieu of the Special Dividend. As of December 31, 2021 and 2020, phantom shares of the Company’s Class B Common Stock issuable by the DCP were 25,384,449 and 30,590,955, respectively.
The total liabilities related to the DCP is included in the consolidated balance sheets as follows:
December 31,
20212020
Accruals and other current liabilities$7,309 $169 
Deferred compensation plan liabilities94,890 2,422 
Total DCP liabilities$102,199 $2,591 
Other Plans
The Company maintains a qualified 401(k) profit‑sharing plan (the “401(k) Plan”) for the benefit of substantially all U.S.‑based full‑time colleagues. The Company may make discretionary profit‑sharing contributions to the 401(k) Plan. The Company matches 50%, up to a maximum of 5% of “qualified cash compensation” for each eligible participating colleague. The Company’s matching contributions to the 401(k) Plan were $4,114, $3,583, and $3,311, for the years ended December 31, 2021, 2020, and 2019, respectively. Effective January 1, 2022, the Company will match 50%, up to a maximum of 6% of “qualified cash compensation” for each eligible participating colleague.
The Company also maintains various retirement benefit plans (primarily defined contribution plans) for colleagues of its international subsidiaries. The Company’s contributions to these plans were $10,729, $7,347, and $8,070, for the years ended December 31, 2021, 2020, and 2019, respectively.