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Benefit Plans | 12 Months Ended
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Dec. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] |
Benefit Plans | 401(k) Plan The Company maintains 401(k) defined contribution plans covering employees in the U.S. The related expense totaled $25.4 million, $21.9 million and $10.1 million in the fiscal years ended December 31, 2023, 2022 and 2021, respectively. During the year ended December 31, 2023, the Company matched employees’ contributions to a maximum of 5% of the employee’s eligible wages for legacy and new Entegris employees. During the year ended December 31, 2023, the Company matched legacy CMC Materials employees’ contributions to a maximum of 6% of each such employee’s eligible wages and those employees were also eligible to receive a 3% non-elective contribution. The Company’s United Kingdom, Singapore and South Korea subsidiaries also make immaterial contributions to retirement plans that function as defined contribution retirement plans. Defined Benefit Plans The employees of the Company’s subsidiaries in Japan, Taiwan, South Korea, France and Germany are covered in defined benefit pension plans. The benefit obligation was reduced by $1.4 million due to the EC disposition in the year ended December 31, 2023. On December 31, 2023, the Company converted its South Korea defined pension plans to defined contribution plans. As a result of this conversion, the Company settled and paid out to beneficiaries an amount of $2.3 million on January 2, 2024. The Company uses a December 31 measurement date for its pension plans. A summary of these combined plans are:
(In thousands) | 2023 |  | 2022
Projected benefit obligation | $ | 12,618 |  |  | $ | 15,253 |
Fair value of plan assets | 1,407 |  |  | 1,014 |
Plan assets less benefit obligation - net amount recognized | (11,211) |  |  | (14,239) |
Accumulated benefit obligation | 10,375 |  |  | 12,151 |
Cash Flows Benefits for the combined plans were $1.0 million, $0.7 million and $0.1 million in fiscal years 2023, 2022 and 2021, respectively, consisting primarily of service costs. Net service costs are included in Cost of sales and Operating expenses, and all other costs are recorded in Other expense, net in our Consolidated Statements of Operations. The Company expects to make the following benefit payments:
(In thousands) |  | Payments
2024 |  | $ | 700 |
2025 |  | 976 |
2026 |  | 404 |
2027 |  | 453 |
2028 |  | 641 |
Years 2029-2033 |  | 3,029 |

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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 710 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//710/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 712 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//712/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//715/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent + Details
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