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EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended
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Dec. 31, 2020
Retirement Benefits [Abstract] |
Schedule of Changes in Benefit Obligation | The actuarial recorded liabilities for such unfunded postretirement benefits are as follows: Change in benefit obligation:
|  | 2020 |  | 2019
Benefit obligation at beginning of year |  | $ | 1,076 |  |  | $ | 1,174 |
Initial adoption of new plan |  | — |  |  | — |
Service cost with interest to end of year |  | 68 |  |  | 63 |
Interest cost |  | 26 |  |  | 39 |
Participant contributions |  | 23 |  |  | 35 |
Benefits paid |  | (27) |  |  | (162) |
Actuarial gain |  | 208 |  |  | (73) |
Benefit obligation at end of year |  | $ | 1,374 |  |  | $ | 1,076 |
Change in benefit obligation:
|  | 2020 |  | 2019
Benefit obligation at beginning of year |  | $ | 1,738 |  |  | $ | — |
Acquisitions |  | — |  |  | 1,738 |
Service cost with interest to end of year |  | 104 |  |  | — |
Interest cost |  | 20 |  |  | — |
Participant contributions |  | 21 |  |  | — |
Benefits paid |  | (11) |  |  | — |
Actuarial gain |  | 18 |  |  | — |
Exchange rate changes |  | 163 |  |  | — |
Benefit obligation at end of year |  | $ | 2,053 |  |  | $ | 1,738 |
Assumptions to determine benefit obligations:
|  | 2020 |  | 2019
Discount rate |  | 0.75 | % |  | 1.00 | %
Schedule of Changes in Plan Assets | Change in plan assets:
|  | 2020 |  | 2019
Fair value of plan assets at beginning of year |  | $ | — |  |  | $ | — |
Employer (reimbursement)/contributions |  | 4 |  |  | 127 |
Participant contributions |  | 23 |  |  | 35 |
Benefits paid |  | (27) |  |  | (162) |
Fair value of plan assets at end of year |  | $ | — |  |  | $ | — |
Change in plan assets:
|  | 2020 |  | 2019
Fair value of plan assets at beginning of year |  | $ | 895 |  |  | $ | — |
Acquisitions |  | — |  |  | 895 |
Actual return on plan assets |  | 57 |  |  | — |
Employer (reimbursement)/contributions |  | 57 |  |  | — |
Participant contributions |  | 21 |  |  | — |
Benefits paid |  | (11) |  |  | — |
Exchange rate changes |  | 84 |  |  | — |
Fair value of plan assets at end of year |  | $ | 1,103 |  |  | $ | 895 |
Schedule of Amounts Recognized in Consolidated Balance Sheet | Amounts recognized in consolidated balance sheet:
|  | 2020 |  | 2019
Accumulated postretirement benefit obligation |  | $ | (1,374) |  |  | $ | (1,076) |
Fair value of plan assets |  | — |  |  | — |
Funded status |  | (1,374) |  |  | (1,076) |
Unrecognized prior service cost |  | N/A |  | N/A
Unrecognized net (gain)/loss |  | N/A |  | N/A
Net amount recognized in consolidated balance sheet (after ASC 715) (included in other long-term obligations) |  | $ | 1,374 |  |  | $ | 1,076 |
Accrued postretirement benefit cost (included in other long-term obligations) |  | N/A |  | N/A
Amounts recognized in consolidated balance sheet:
|  | 2020 |  | 2019
Benefit obligation |  | $ | (2,053) |  |  | $ | (1,738) |
Fair value of plan assets |  | 1,103 |  |  | 895 |
Funded status |  | (950) |  |  | (843) |
Unrecognized prior service cost |  | N/A |  | N/A
Unrecognized net (gain)/loss |  | N/A |  | 247 |
Net amount recognized in consolidated balance sheet (after ASC 715) (included in other long-term obligations) |  | $ | 950 |  |  | $ | 596 |
Accrued postretirement benefit cost (included in other long-term obligations) |  | N/A |  | N/A
Schedule of Components of Net Periodic Benefit Cost | Components of net periodic benefit cost:
|  | 2020 |  | 2019 |  | 2018
Service cost with interest to end of year |  | $ | 68 |  |  | $ | 63 |  |  | $ | 78 |
Interest cost |  | 26 |  |  | 39 |  |  | 44 |
Amortization of prior service credit |  | 74 |  |  | 74 |  |  | 74 |
Amortization of gain |  | (50) |  |  | (46) |  |  | (8) |
Total net periodic benefit cost |  | $ | 118 |  |  | $ | 130 |  |  | $ | 188 |
Components of net periodic benefit cost:
|  | 2020 |  | 2019
Service cost with interest to end of year |  | $ | 104 |  |  | $ | — |
Interest cost |  | 20 |  |  | — |
Expected return on plan assets |  | (14) |  |  | — |
Amortization of prior service credit |  | — |  |  | — |
Amortization of gain |  | — |  |  | — |
Total net periodic benefit cost |  | $ | 110 |  |  | $ | — |
Assumptions to determine net cost:
|  | 2020 |  | 2019
Discount rate |  | 1.00 | % |  | N/A
Expected return on assets |  | 1.00 | % |  | N/A
Schedule of Estimated Future Employer Contributions and Benefit Payments | Estimated future employer contributions and benefit payments are as follows:
Year |  |
2021 |  | $ | 99 |
2022 |  | 98 |
2023 |  | 81 |
2024 |  | 100 |
2025 |  | 93 |
Years 2026-2030 |  | 495 |
Estimated future benefit payments are as follows:
Year |  |
2021 |  | $ | 2 |
2022 |  | — |
2023 |  | — |
2024 |  | — |
2025 |  | — |
Years 2026-2030 |  | 25 |
Summary of Pension Fund | The Company does not represent more than 5% of the contributions to this pension fund.
Pension Fund |  | EIN/Pension Plan Number |  | Pension Plan Protection Act Zone Status |  | FIP/RP Status Pending/ Implemented |  | Contributions of Balchem Corporation |  | Surcharge Imposed |  | Expiration Date of Collective- Bargaining Agreement
| 2020 |  | 2019 |  |  | 2020 |  | 2019 |  | 2018 |
Central States, Southeast and Southwest Areas Pension Fund |  | 36-6044243 |  | Critical & Declining as of 1/1/20 |  | Critical & Declining as of 1/1/19 |  | Implemented |  | $774 |  | $676 |  | $614 |  | No |  | 7/12/2025

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