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EMPLOYEE RETIREMENT PLANS AND POSTRETIREMENT BENEFITS (Tables) | 12 Months Ended
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Dec. 31, 2024
EMPLOYEE RETIREMENT PLANS AND POSTRETIREMENT BENEFITS |
Changes in projected benefit obligations and plan assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31,
​ |  | 2024 |  | 2023
​ | ​ | (in thousands)
Projected benefit obligation, beginning of year | ​ | $ | 65,653 | ​ | $ | 56,520
Service cost | ​ |  | 1,022 | ​ |  | 1,016
Interest cost | ​ |  | 2,799 | ​ |  | 2,909
Actuarial loss (gain) | ​ |  | (409) | ​ |  | 4,808
Benefits paid | ​ |  | (1,934) | ​ |  | (1,452)
Translation adjustment | ​ |  | (2,790) | ​ |  | 1,852
Projected benefit obligation, end of year | ​ | ​ | 64,341 | ​ | ​ | 65,653
​ | ​ | ​ | ​ | ​ | ​ | ​
Fair value of plan assets, beginning of year | ​ | $ | 14,115 | ​ | $ | 12,489
Expected return | ​ |  | 714 | ​ |  | 654
Contributions | ​ |  | 1,556 | ​ |  | 1,443
Benefits paid | ​ |  | (1,363) | ​ |  | (1,140)
Actuarial gain (loss) | ​ |  | (564) | ​ |  | 17
Translation adjustment | ​ |  | (404) | ​ |  | 652
Fair value of plan assets, end of year | ​ | ​ | 14,054 | ​ | ​ | 14,115
Funded status of plan | ​ | $ | (50,287) | ​ | $ | (51,538)
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31,
​ |  | 2024 |  | 2023
​ | ​ | (in thousands)
Accumulated benefit obligation | ​ | $ | 55,918 | ​ | $ | 58,968
Schedule of current portion of the liability | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2024 |  | 2023
​ | ​ | (in thousands)
Current | ​ | $ | 732 | ​ | $ | 2,403
Long-term | ​ |  | 49,555 | ​ |  | 49,135
Total pension benefit obligation | ​ | $ | 50,287 | ​ | $ | 51,538
Schedule of net periodic pension benefit costs | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
​ |  | 2024 |  | 2023 |  | 2022
​ | ​ | (in thousands)
Service cost | ​ | $ | 1,022 | ​ | $ | 1,016 | ​ | $ | 1,133
Interest cost | ​ | ​ | 2,799 | ​ | ​ | 2,909 | ​ | ​ | 1,819
Expected return on plan assets | ​ |  | (714) | ​ |  | (654) | ​ |  | (535)
Amortization of actuarial gains and losses | ​ |  | (210) | ​ |  | (404) | ​ |  | 322
Net periodic pension cost | ​ | $ | 2,897 | ​ | $ | 2,867 | ​ | $ | 2,739
Schedule of assumptions used in determination of net period pension cost | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31, |
​ |  | 2024 |  | 2023 |  | 2022 |
Discount rate used for net periodic pension costs |  | 4.4 | % | 5.1 | % | 2.6 | %
Discount rate used for pension benefit obligations | ​ | 5.0 | % | 4.4 | % | 5.1 | %
Expected long-term return on plan assets |  | 5.9 | % | 5.2 | % | 3.2 | %
Schedule of fair value qualified pension plan assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024
​ |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
​ | ​ | (in thousands)
Diversified Growth Fund | ​ | $ | — | ​ | $ | 11,510 | ​ | $ | — | ​ | $ | 11,510
Corporate Bonds | ​ |  | — | ​ | ​ | 1,334 | ​ | ​ | — | ​ | ​ | 1,334
Insurance Contracts | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 697 | ​ | ​ | 697
Cash | ​ |  | 513 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 513
Total | ​ | $ | 513 | ​ | $ | 12,844 | ​ | $ | 697 | ​ | $ | 14,054
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2023
​ |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
​ | ​ | (in thousands)
Diversified Growth Fund | ​ | $ | — | ​ | $ | 11,606 | ​ | $ | — | ​ | $ | 11,606
Corporate Bonds | ​ |  | — | ​ |  | 1,212 | ​ |  | — | ​ |  | 1,212
Insurance Contracts | ​ | ​ | — | ​ |  | — | ​ |  | 799 | ​ |  | 799
Cash | ​ |  | 498 | ​ |  | — | ​ |  | — | ​ |  | 498
Total | ​ | $ | 498 | ​ | $ | 12,818 | ​ | $ | 799 | ​ | $ | 14,115
Schedule of expected future benefit payments under defined benefit pension plans | ​
​ | ​ | ​ | ​
Year Ending December 31, |  | ​ | (in thousands)
2025 | ​ | $ | 2,420
2026 | ​ | ​ | 3,943
2027 | ​ | ​ | 3,389
2028 | ​ | ​ | 3,578
2029 | ​ | ​ | 5,125
2029 to 2034 | ​ | ​ | 23,509

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- Definition Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (a)(b)(c) -Paragraph 1 -SubTopic 20 -Topic 715 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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- Definition Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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