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401(k) Profit Sharing, Deferred Compensation and Long-term Incentive Plans
 12 Months Ended
Dec. 31, 2021
Postemployment Benefits [Abstract]  
401(k) Profit Sharing, Deferred Compensation and Long-Term Incentive Plans 401(k) Profit Sharing, Deferred Compensation and Long-Term Incentive Plans
We have a defined contribution 401(k) plan and trust covering substantially all full-time employees. The annual contribution to the plan is at the discretion of our Board of Directors. Contributions of $18.8 million, $9.0 million, and $9.8 million were recognized for the years ended December 31, 2021, 2020 and 2019, respectively. Employees may contribute to the plan if they meet certain eligibility requirements.

We offer a non-qualified deferred compensation and supplemental executive retirement plan (the “SERP”) to provide certain employees the ability to accumulate assets for retirement on a tax deferred basis. We may, depending on position, also make discretionary contributions to the SERP. These discretionary contributions could
vest immediately or over a period of up to seven years based on the employee’s age. Additionally, a participant may defer a portion of his or her compensation and receive the deferred amount upon certain events, including termination or retirement.

The following is a summary related to our SERP:
Year Ended December 31,
(Dollars in millions)202120202019
Compensation expense$1.4 $1.2 $0.9 
Total discretionary contribution$0.9 $0.9 $0.3 
Guaranteed annual return5.00 %5.00 %5.00 %

As of December 31, 2021 and 2020, the balance due to participants was $51.9 million and $43.3 million, respectively, and was included as a component of other long-term liabilities in the Consolidated Balance Sheets.