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Employee Benefit Plans | 12 Months Ended
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Dec. 31, 2021
Retirement Benefits [Abstract] |
Employee Benefit Plans | Employee Benefit Plans Defined Benefit Pension and Post-Retirement Plans The Company has defined benefit pension plans that cover certain union and nonunion associates in the U.S. Benefits under these plans are based either on years of credited service and compensation during the years preceding retirement or on years of credited service and established monthly benefit levels. The Company also has a post-retirement plan that provides life insurance coverage to eligible retired associates (collectively, with the defined benefit plans, the U.S. Plans). The Company froze benefit accruals for the U.S. Plans for nonunion associates effective April 1, 2005, and these associates no longer earn additional pension benefits. The Company also has a defined benefit plan that covers certain associates in Australia and is referenced as the ‘Superannuation P lan’ and two defined benefit plans that cover certain associates in Austria resulting from the Agro acquisition which are referenced as the ‘Austria Plans’. The Company uses a December 31 measurement date for each plan. Actuarial information regarding these plans is as follows:
| 2021
| Retirement Income Plan | National Service-Related Pension Plan | Other Post-Retirement Benefits | Superannuation | Austria Plans | Total
Change in benefit obligation: | (In thousands)
Benefit obligation – January 1, 2021 | $ | (47,509) |  | $ | (38,227) |  | $ | (647) |  | $ | (1,423) |  | $ | — |  | $ | (87,806) |
Purchase price allocation adjustment | — |  | — |  | — |  | — |  | (2,498) |  | $ | (2,498) |
Service cost | — |  | — |  | — |  | (59) |  | (107) |  | (166) |
Interest cost | (947) |  | (936) |  | (8) |  | (19) |  | (18) |  | (1,928) |
Actuarial gain (loss) | 1,571 |  | 1,592 |  | 21 |  | 78 |  | (2) |  | 3,260 |
Benefits paid | 1,342 |  | 1,150 |  | 5 |  | 14 |  | 61 |  | 2,572 |
Other - plan change | — |  | — |  | — |  | — |  | — |  | — |
Plan participants’ contributions | — |  | — |  | — |  | (18) |  | — |  | (18) |
Foreign currency translation loss | — |  | — |  | — |  | 80 |  | (38) |  | 42 |
Effect of settlement | 1,850 |  | — |  | — |  | — |  | — |  | 1,850 |
Benefit obligation – end of year | (43,693) |  | (36,421) |  | (629) |  | (1,347) |  | (2,602) |  | (84,692) |
Change in plan assets: |  |  |  |  |  |
Fair value of plan assets – January 1, 2021 | 45,030 |  | 32,061 |  | — |  | 1,570 |  | — |  | 78,661 |
Purchase price allocation adjustment | — |  | — |  | — |  | — |  | 1,112 |  | 1,112 |
Actual return on plan assets | 4,371 |  | 3,187 |  | — |  | 320 |  | 26 |  | 7,904 |
Employer contributions | 669 |  | 505 |  | 5 |  | — |  | 61 |  | 1,240 |
Benefits paid | (1,342) |  | (1,150) |  | (5) |  | (27) |  | (51) |  | (2,575) |
Effect of settlement | (1,850) |  | — |  | — |  | — |  | — |  | (1,850) |
Plan participants’ contributions | — |  | — |  | — |  | 34 |  | — |  | 34 |
Foreign currency translation gain | — |  | — |  | — |  | (243) |  | — |  | (243) |
Fair value of plan assets – end of year | 46,878 |  | 34,603 |  | — |  | 1,654 |  | 1,148 |  | 84,283 |
Funded status | $ | 3,185 |  | $ | (1,818) |  | $ | (629) |  | $ | 307 |  | $ | (1,454) |  | $ | (409) |
Amounts recognized on the consolidated balance sheet as of December 31, 2021: |  |  |  |  |  |
Pension and post-retirement asset (liability) | $ | 3,185 |  | $ | (1,818) |  | $ | (629) |  | $ | 307 |  | $ | (1,454) |  | $ | (409) |
Accumulated other comprehensive loss (income) | 566 |  | 752 |  | (15) |  | (72) |  | 15 |  | 1,246 |
Amounts in accumulated other comprehensive loss consist of: |  |  |  |  |  |
Net loss | $ | 566 |  | $ | 752 |  | $ | (15) |  | $ | (94) |  | $ | 15 |  | $ | 1,224 |
Prior service cost | $ | — |  | $ | — |  | $ | — |  | $ | 22 |  | $ | — |  | $ | 22 |
Other changes in plan assets and benefit obligations recognized in other comprehensive (income) loss: |  |  |  |  |  |
Net (gain) loss | $ | (3,558) |  | $ | (3,069) |  | $ | (28) |  | $ | (181) |  | $ | 15 |  | $ | (6,821) |
Amortization of net gain | (873) |  | (651) |  | — |  | — |  | — |  | (1,524) |
Amortization of prior service cost | — |  | — |  | — |  | (30) |  | — |  | (30) |
Amount recognized due to settlement | (24) |  | — |  | — |  | — |  | — |  | (24) |
Foreign currency translation loss | — |  | — |  | — |  | 70 |  | — |  | 70 |
Total recognized in other comprehensive (income) loss | $ | (4,455) |  | $ | (3,720) |  | $ | (28) |  | $ | (141) |  | $ | 15 |  | $ | (8,329) |
Information for plans with accumulated benefit obligation in excess of plan assets: |  |  |  |  |  |
Projected benefit obligation | N/A | $ | 36,421 |  | $ | 629 |  | $ | 1,347 |  | $ | 2,602 |  | $ | 40,999 |
Accumulated benefit obligation | N/A | $ | 36,421 |  | $ | 629 |  | $ | 1,272 |  | $ | 2,197 |  | $ | 40,519 |
Fair value of plan assets | N/A | $ | 34,603 |  | $ | — |  | $ | 1,654 |  | $ | 1,148 |  | $ | 37,405 |
| 2020
| Retirement Income Plan | National Service-Related Pension Plan | Other Post-Retirement Benefits | Superannuation | Total
Change in benefit obligation: | (In thousands)
Benefit obligation – January 1, 2020 | $ | (45,215) |  | $ | (35,036) |  | $ | (611) |  | $ | (1,152) |  | $ | (82,014) |
Service cost | — |  | — |  | — |  | (66) |  | (66) |
Interest cost | (1,261) |  | (1,117) |  | (14) |  | (28) |  | (2,420) |
Actuarial loss | (3,657) |  | (3,147) |  | (27) |  | (72) |  | (6,903) |
Benefits paid | 1,358 |  | 1,073 |  | 5 |  | 23 |  | 2,459 |
Plan participants’ contributions | — |  | — |  | — |  | (19) |  | (19) |
Foreign currency translation loss | — |  | — |  | — |  | (109) |  | (109) |
Effect of settlement | 1,266 |  | — |  | — |  | — |  | 1,266 |
Benefit obligation – end of year | (47,509) |  | (38,227) |  | (647) |  | (1,423) |  | (87,806) |
Change in plan assets: |  |  |  |  |
Fair value of plan assets – January 1, 2020 | 40,111 |  | 27,841 |  | — |  | 1,356 |  | 69,308 |
Actual return on plan assets | 5,903 |  | 4,034 |  | — |  | 44 |  | 9,981 |
Employer contributions | 1,640 |  | 1,259 |  | 5 |  | 45 |  | 2,949 |
Benefits paid | (1,358) |  | (1,073) |  | (5) |  | (23) |  | (2,459) |
Effect of settlement | (1266) |  | — |  | — |  | — |  | (1,266) |
Plan participants’ contributions | — |  | — |  | — |  | 19 |  | 19 |
Foreign currency translation gain | — |  | — |  | — |  | 129 |  | 129 |
Fair value of plan assets – end of year | 45,030 |  | 32,061 |  | — |  | 1,570 |  | 78,661 |
Funded status | $ | (2,479) |  | $ | (6,166) |  | $ | (647) |  | $ | 147 |  | $ | (9,145) |
Amounts recognized on the consolidated balance sheet as of December 31, 2020: |  |  |  |  |
Pension and post-retirement liability | $ | (2,479) |  | $ | (6,166) |  | $ | (647) |  | $ | 147 |  | $ | (9,145) |
Accumulated other comprehensive loss (income) | 5,021 |  | 4,473 |  | 6 |  | 86 |  | 9,586 |
Amounts in accumulated other comprehensive loss consist of: |  |  |  |  |
Net loss | $ | 5,021 |  | $ | 4,473 |  | $ | 6 |  | $ | 86 |  | $ | 9,586 |
Prior service cost | $ | — |  | $ | — |  | $ | — |  | $ | 53 |  | $ | 53 |
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss): |  |  |  |  |
Net (gain) loss | $ | (244) |  | $ | 578 |  | $ | (94) |  | $ | 102 |  | $ | 342 |
Amortization of net gain | (1,017) |  | (607) |  | — |  | — |  | (1,624) |
Amortization of prior service cost | — |  | — |  | — |  | (31) |  | (31) |
Amount recognized due to special event | (134) |  | — |  | — |  | — |  | (134) |
Foreign currency translation loss | — |  | — |  | — |  | 14 |  | 14 |
Total recognized in other comprehensive (income) loss | $ | (1,395) |  | $ | (29) |  | $ | (94) |  | $ | 85 |  | $ | (1,433) |
Information for plans with accumulated benefit obligation in excess of plan assets: |  |  |  |  |
Projected benefit obligation | $ | 47,509 |  | $ | 38,227 |  | $ | 647 |  | $ | 1,423 |  | $ | 87,806 |
Accumulated benefit obligation | $ | 47,508 |  | $ | 38,227 |  | $ | 647 |  | $ | 1,297 |  | $ | 87,679 |
Fair value of plan assets | $ | 45,030 |  | $ | 32,061 |  | $ | — |  | $ | 1,570 |  | $ | 78,661 |
The components of net period benefit cost for the years ended December 31, 2021, 2020 and 2019 are as follows:
| December 31, 2021
| Retirement Income Plan | National Service-Related Pension Plan | Other Post-Retirement Benefits | Superannuation | Austria Plans | Total
Components of net periodic benefit cost: | (In thousands)
Service cost | $ | — |  | $ | — |  | $ | — |  | $ | 61 |  | $ | 111 |  | $ | 172 |
Interest cost | 947 |  | 936 |  | 8 |  | 20 |  | 19 |  | 1,930 |
Expected return on plan assets | (2,384) |  | (1,710) |  | — |  | (74) |  | — |  | (4,168) |
Amortization of net loss | 873 |  | 651 |  | — |  | — |  | (13) |  | 1,511 |
Amortization of prior service cost | — |  | — |  | — |  | 30 |  | — |  | 30 |
Effect of settlement | 24 |  | — |  | — |  | — |  | — |  | 24 |
Net pension benefit (income) cost | $ | (540) |  | $ | (123) |  | $ | 8 |  | $ | 37 |  | $ | 117 |  | $ | (501) |
| December 31, 2020
| Retirement Income Plan | National Service-Related Pension Plan | Other Post-Retirement Benefits | Superannuation | Total
Components of net periodic benefit cost: | (In thousands)
Service cost | $ | — |  | $ | — |  | $ | — |  | $ | 59 |  | $ | 59 |
Interest cost | 1,261 |  | 1,117 |  | 14 |  | 25 |  | 2,417 |
Expected return on plan assets | (2,002) |  | (1,465) |  | — |  | (66) |  | (3,533) |
Amortization of net loss | 1,017 |  | 607 |  | — |  | — |  | 1,624 |
Amortization of prior service cost | — |  | — |  | — |  | 27 |  | 27 |
Effect of settlement | 134 |  | — |  | — |  | — |  | 134 |
Net pension benefit cost | $ | 410 |  | $ | 259 |  | $ | 14 |  | $ | 45 |  | $ | 728 |
| December 31, 2019
| Retirement Income Plan | National Service-Related Pension Plan | Other Post-Retirement Benefits | Superannuation | Total
Components of net periodic benefit cost: | (In thousands)
Service cost | $ | — |  | $ | — |  | $ | — |  | $ | 78 |  | $ | 78 |
Interest cost | 1,590 |  | 1,245 |  | 23 |  | 49 |  | $ | 2,907 |
Expected return on plan assets | (1,760) |  | (1,176) |  | — |  | (74) |  | $ | (3,010) |
Amortization of net loss (gain) | 1,509 |  | 564 |  | (4) |  | — |  | $ | 2,069 |
Amortization of prior service cost | — |  | — |  | — |  | 28 |  | $ | 28 |
Effect of settlement | — |  | — |  | (5) |  | (5) |  | $ | (10) |
Net pension benefit cost | $ | 1,339 |  | $ | 633 |  | $ | 14 |  | $ | 76 |  | $ | 2,062 |
The service cost component of defined benefit pension cost and postretirement benefit cost are presented in “Selling, general and administrative” and all other components of net period benefit cost are presented in “Other (expense) income, net” on the Consolidated Statements of Operations. The Company recognizes all changes in the fair value of plan assets and net actuarial gains or losses at December 31 each year. Prior service costs and gains/losses are amortized based on a straight-line method over the average future service of members that are expected to receive benefits. All actuarial gains/losses are exposed to amortization over an average future service period of 5.6 years for the Retirement Income Plan, 6.4 years for the National Service-Related Pension Plan, 4.3 years for Other Post-Retirement Benefits, 4.5 years for Superannuation, and 7.3 years for Austria Plans as of December 31, 2021. The weighted average assumptions used to determine benefit obligations and net period benefit costs for the years ended December 31, 2021, 2020 and 2019 are as follows:
| December 31, 2021
| Retirement Income Plan | National Service-Related Pension Plan | Other Post-Retirement Benefits | Superan- nuation | Austria Plans
Weighted-average assumptions used to determine obligations (balance sheet): |  |  |  |  |
Discount rate | 2.49% | 2.77% | 1.95% | 2.55% | 0.94%
Rate of compensation increase | N/A | N/A | N/A | 2.50% | 2.50%
Weighted-average assumptions used to determine net periodic benefit cost (statement of operations): |  |  |  |  |
Discount rate | 2.10% | 2.49% | 1.41% | 1.50% | 0.75%
Expected return on plan assets | 6.00% | 6.00% | N/A | 5.00% | N/A
Rate of compensation increase | N/A | N/A | N/A | 3.25% | N/A
| December 31, 2020
| Retirement Income Plan | National Service-Related Pension Plan | Other Post-Retirement Benefits | Superan- nuation
Weighted-average assumptions used to determine obligations (balance sheet): |  |  |  |
Discount rate | 2.10% | 2.49% | 1.41% | 1.50%
Rate of compensation increase | N/A | N/A | N/A | 3.25%
Weighted-average assumptions used to determine net periodic benefit cost (statement of operations): |  |  |  |
Discount rate | 3.00% | 3.25% | 2.55% | 2.30%
Expected return on plan assets | 6.50% | 6.50% | N/A | 5.00%
Rate of compensation increase | N/A | N/A | N/A | 3.25%
| December 31, 2019
| Retirement Income Plan | National Service-Related Pension Plan | Other Post-Retirement Benefits | Superan- nuation
Weighted-average assumptions used to determine obligations (balance sheet): |  |  |  |
Discount rate | 3.00% | 3.25% | 2.55% | 2.30%
Rate of compensation increase | N/A | N/A | N/A | 3.25%
Weighted-average assumptions used to determine net periodic benefit cost (statement of operations): |  |  |  |
Discount rate | 3.95% | 4.15% | 3.70% | 3.70%
Expected return on plan assets | 6.50% | 6.50% | N/A | 5.00%
Rate of compensation increase | 3.50% | N/A | N/A | 3.25%
The estimated net loss for the defined benefit plans in the U.S. that will be amortized from accumulated other comprehensive loss into net periodic benefit cost during 2022 is $0.2 million. There is no estimated prior service cost associated with this plan to be amortized from accumulated other comprehensive income during 2022. There is no estimated net gain for the Offshore Plan that will be amortized from accumulated other comprehensive income into net periodic benefit cost during 2022. The estimated prior service cost associated with this plan to be amortized from accumulated other comprehensive income during 2022 is nominal. The Company determines the expected return on plan assets based on their market value as of December 31 of each year, as adjusted for a) expected employer contributions, b) expected benefit distributions, and c) estimated administrative expenses. Plan Assets The Company’s overall investment strategy is to achieve a mix of investments for long-term growth and near-term benefit payments. The Company invests in both U.S. and non-U.S. equity securities, fixed-income securities, and real estate. The Austria Plans’ assets are held in an insurance annuity contract, which is determined based on the cash surrender value of the insurance contract, with an independent insurance company. The contract is classified within level 3 of the valuation hierarchy. The allocations of the U.S. Plans’ and the Superannuation Plan’s investments by fair value as of December 31, 2021 and 2020 are as follows:
| U.S. Plans |  | Superannuation Plan |  | Austria Plan
| Actual | Target Allocation |  | Actual | Target Allocation |  | Actual | Target Allocation
| 2021 | 2020 |  | 2021 | 2020 |  | 2021 |
U.S. equities | 41% | 37% | 25%–55% |  | 19% | 18% | 19% |  | —% |  | —%
Non-U.S. equities | 24% | 27% | 15%–45% |  | 39% | 39% | 39% |  | —% |  | —%
Fixed-income securities | 29% | 32% | 15%–40% |  | 10% | 9% | 20% |  | 100% |  | 100%
Real estate | 5% | 4% | 0–5% |  | 7% | 10% | 7% |  | —% |  | —%
Cash and other | —% | —% | —% |  | 25% | 24% | 15% |  | —% |  | —%
To develop the assumption for the long-term rate of return on assets, the Company considered the historical returns and the future expectations for returns for each asset class, as well as the target asset allocation of the U.S. Plans’ and Superannuation Plan’s assets and the effect of periodic rebalancing, consistent with the Company’s investment strategies. For 2022, the Company expects to receive a long-term rate of return of 6.5% for the U.S. Plans and 5.0% for the Superannuation Plan. All plans are invested to maximize the return on assets while minimizing risk by diversifying across a broad range of asset classes. The fair values of the Company’s pension plan assets as of December 31, 2021, by category, are as follow:
| Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Balance as of December 31, 2021
Assets | (In thousands)
U.S. equities: |  |  |  |
Large cap(1) | $ | — |  | $ | 25,148 |  | $ | — |  | $ | 25,148 |
Medium cap(1) | — |  | 4,757 |  | — |  | 4,757 |
Small cap(1) | 1,735 |  | 1,840 |  | — |  | 3,575 |
Non-U.S. equities: |  |  |  |
Large cap(2) | 15,611 |  | — |  | — |  | 15,611 |
Emerging markets(3) | 4,283 |  | — |  | — |  | 4,283 |
Fixed-income securities: |  |  |  |
Money markets(4) | — |  | 807 |  | — |  | 807 |
U.S. bonds(5) | 11,524 |  | 3,932 |  | — |  | 15,456 |
Non-U.S. bonds(5) | 7,383 |  | — |  | — |  | 7,383 |
Real estate(6) | — |  | 4,459 |  | — |  | 4,459 |
Common/collective trusts | — |  | 1,656 |  | — |  | 1,656 |
Other | — |  | — |  | 1,148 |  | 1,148 |
Total assets | $ | 40,536 |  | $ | 42,599 |  | $ | 1,148 |  | $ | 84,283 |
The fair values of the Company’s pension plan assets as of December 31, 2020, by category, are as follows:
| Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Balance as of December 31, 2020
Assets | (In thousands)
U.S. equities: |  |  |  |
Large cap(1) | $ | — |  | $ | 20,960 |  | $ | — |  | $ | 20,960 |
Medium cap(1) | — |  | 4,024 |  | — |  | 4,024 |
Small cap(1) | 1,365 |  | 1,936 |  | — |  | 3,301 |
Non-U.S. equities: |  |  |  |
Large cap(2) | 16,183 |  | — |  | — |  | 16,183 |
Emerging markets(3) | 4,759 |  | — |  | — |  | 4,759 |
Fixed-income securities: |  |  |  |
Money markets(4) | — |  | 2,163 |  | — |  | 2,163 |
U.S. bonds(5) | 11,067 |  | 3,581 |  | — |  | 14,648 |
Non-U.S. bonds(5) | 7,635 |  | — |  | — |  | 7,635 |
Real estate(6) | — |  | 3,417 |  | — |  | 3,417 |
Common/collective trusts | — |  | 1,571 |  | — |  | 1,571 |
Total assets | $ | 41,009 |  | $ | 37,652 |  | $ | — |  | $ | 78,661 |
(1)Includes funds that primarily invest in U.S. common stock. (2)Includes funds that invest primarily in foreign equity and equity-related securities. (3)Includes funds that invest primarily in equity securities of companies in emerging market countries. (4)Includes funds that invest primarily in short-term securities, such as commercial paper. (5)Includes funds either publicly traded (Level 1) or within a separate account (Level 2) held by a regulated investment company. These funds hold primarily debt and fixed-income securities. (6)Includes funds in a separate account held by a regulated investment company that invest primarily in commercial real estate and includes mortgage loans which are backed by the associated properties. The Company can call the investment in these assets with no restrictions. The U.S. Plans’ assets are in commingled funds that are valued using net asset values. The net asset values are based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding. The pension assets are classified as Level 1 when the net asset values are based on a quoted price in an active market. The U.S. Plans’ assets are classified as Level 2 when the net asset value is based on a quoted price on a private market that is not active and the underlying investments are traded on an active market. The Superannuation Plans are common/collective trusts and commingled trusts investments, which invest in other collective trust funds otherwise known as the underlying funds. The Company’s interests in the commingled trust funds are based on the fair values of the investments of the underlying funds and therefore are classified as Level 2. As of December 31, 2021, The Austria Plans’ assets are held in an insurance annuity contract. Investments are classified based on the lowest level of input that is significant to the fair value measurement. The fair value of the insurance contract is determined based on the cash surrender value of the insurance contract, with an independent insurance company. The contract is classified within level 3 of the valuation hierarchy. As of December 31 2020, the Company did not have any investments classified as Level 3. The Company expects to contribute an immaterial amount to certain plans during 2022 based on the expected funded status of the plans. Estimated Future Benefit Payments The following benefit payments, which reflect expected future services, as appropriate, are expected to be paid for all plans as of December 31, 2021:
Years Ending December 31: | (In thousands)
2022 | $ | 6,905 |
2023 | 5,931 |
2024 | 5,584 |
2025 | 5,317 |
2026 | 5,207 |
Thereafter | 25,079 |
| $ | 54,023 |
Multi-Employer Plans The Company contributes to a number of multi-employer benefit plans under the terms of collective bargaining agreements that cover union-represented associates. These plans generally provide for retirement, death, and/or termination benefits for eligible associates within the applicable collective bargaining units, based on specific eligibility/participation requirements, vesting periods, and benefit formulas. The risks of participating in these multi-employer plans are different from single-employer plans in the following aspects: •Assets contributed to the multi-employer plan by one employer may be used to provide benefits to associates of other current or former participating employers. • If a participating employer stops contributing to the multi-employer plan without paying its unfunded liability, the unfunded obligations of the plan may be borne by the remaining participating employers. • If the Company chooses to cease participation in a multi-employer plan, such full withdrawal is subject to the payment of any unfunded liability applicable to the Company, referred to as a withdrawal liability. Additionally, such withdrawal is subject to collective bargaining. The table below outlines the Company’s participation in multi-employer pension plans for the periods ended December 31, 2021, 2020 and 2019, and sets forth the contributions into each plan. The “EIN/Pension Plan Number” column provides the Employer Identification Number (EIN) and the three-digit plan number. The most recent Pension Protection Act zone status available in 2018 and 2019 relates to the plans’ two most recent fiscal year-ends. The zone status is based on information that we received from the plans’ administrators and is certified by each plan’s actuary. Among other factors, plans certified in the red zone are generally less than 65% funded, plans certified in the orange zone are (i) less than 80% funded and (ii) have an accumulated funding deficiency or are expected to have a deficiency in any of the next six plan years, plans certified in the yellow zone are less than 80% funded, and plans certified in the green zone are at least 80% funded. The “FIP/RP Status Pending/Implemented” column indicates whether a financial improvement plan (FIP) for yellow/orange zone plans, or a rehabilitation plan (RP) for red zone plans, is either pending or has been implemented. As of December 31, 2021, all plans that have either a FIP or RP requirement have had the respective FIP or RP implemented (see table below). The Company’s collective-bargained contributions satisfy the requirements of all implemented FIPs and RPs and do not currently require the payment of any surcharges. In addition, minimum contributions outside the agreed-upon contractual rate are not required. For the plans detailed in the following table, the expiration dates of the associated collective bargaining agreements range from February 13, 2019 to June 30, 2026. For all the plans detailed in the following table, the Company has not contributed more than 5% of the total plan contribution for 2021, 2020 and 2019. The Company contributes to multi-employer plans that cover approximately 60% of union associates. The amounts charged to expense within the Consolidated Statements of Operations for the years ended December 31, 2021, 2020 and 2019 were $19.1 million, $18.1 million and $18.0 million, respectively. Projected minimum contributions required for the upcoming fiscal year are approximately $20.5 million. During the third quarter of 2017, the Company recorded a charge of $9.2 million representing the present value of a liability associated with its withdrawal obligation under the New England Teamsters & Trucking Industry Multi-Employer Pension Fund (the Fund) for hourly, unionized associates at four of its domestic warehouse facilities. The Fund is significantly underfunded in accordance with Employee Retirement Income Security Act of 1974 (ERISA) funding standards and, therefore, ERISA required the Fund to develop a Rehabilitation Plan. The Fund Trustees chose to create a new fund that minimizes the pension withdrawal liability. As a result, current employers participating in the Fund were given the opportunity to exit the Fund and convert to a new fund. The Company’s portion of the unfunded liability (undiscounted), estimated at $13.7 million, will be repaid in equal monthly installments of approximately $0.04 million over 30 years, interest free. The Company recognized an expense and related liability equal to the present value of the withdrawal liability upon exiting the Fund, and amortizes the difference between such present value and the estimated unfunded liability through interest expense over the repayment period.
Pension Fund | EIN/Pension Plan Number | Pension Protection Act Zone Status | FIP/RP Status Pending/ Implemented | Americold Contributions | Surcharge Imposed
2021 | 2020 | 2021 | 2020 | 2019
|  |  |  |  | (In thousands) |
Central Pension Fund of the International Union of Operating Engineers and Participating Employers (2) | 36-6052390 | Green | Green | No | $ | 6 | $ | 11 | $ | 6 | No
Central States SE & SW Areas Health and Welfare Pension Plans (1) | 36-6044243 | Red | Red | Yes/ Implemented | 9,060 | 9,132 | 9,238 | No
New England Teamsters & Trucking Industry Pension Plan (3) | 04-6372430 | Red | Red | Yes/ Implemented | 529 | 456 | 456 | No
Alternative New England Teamsters & Trucking Industry Pension Plan | 04-6372430 | Red | Red | No | 338 | 404 | 449 | No
I.U.O.E Stationary Engineers Local 39 Pension Fund (1) | 94-6118939 | Green | Green | No | 186 | 119 | 194 | No
United Food & Commercial Workers International Union-Industry Pension Fund (4) | 51-6055922 | Green | Green | No | 108 | 126 | 105 | No
Western Conference of Teamsters Pension Fund (1) | 91-6145047 | Green | Green | No | 7,784 | 7,727 | 7,398 | No
Minneapolis Food Distributing Industry Pension Plan (1) | 41-6047047 | Green | Green | No | 127 | 146 | 116 | No
WWEC Local 863 Pension Fund(5) | 26-3541447 | Yellow | Yellow | Yes/ Implemented | 967 | — | — | No
|  |  |  | Total Contributions | $ | 19,105 | $ | 18,121 | $ | 17,962 |
(1)The status information is for the plans’ year end at December 31, 2021 and 2020. (2)The status information is for the plans’ year end at January 31, 2021 and 2020. (3)The status information is for the plans’ year end at September 30, 2021 and 2020. The Company withdrew from the multi-employer plan on October, 31, 2017. (4)The status information is for the plans’ year end at June 30, 2021 and 2020. (5)The Company reflects no contributions in 2020 and 2019 as this fund was inherited in connection with the Newark Facility Management acquisition in 2021. Government-Sponsored Plans The Company contributes to certain government-sponsored plans in Australia and Argentina. The amounts charged to expense within the Consolidated Statements of Operations and for the years ended December 31, 2021, 2020 and 2019 were $7.3 million, $6.1 million and $5.8 million, respectively. Defined Contribution Plan The Company has defined contribution employee benefit plans, which cover all eligible associates. The plans also allow contributions by plan participants in accordance with Section 401(k) of the IRC. The Company matches a percentage of each employee’s contributions consistent with the provisions of the plans. The aggregate cost of our contributions to the 401(k) Plan charged to expense within the Consolidated Statements of Operations for each of the years ended December 31, 2021, 2020 and 2019 was $9.0 million, $5.7 million and $4.2 million, respectively. Deferred Compensation The Company has deferred compensation and supplemental retirement plan agreements with certain of its executives. The agreements provide for certain benefits at retirement or disability and also provide for survivor benefits in the event of death of the employee. The Company contribution amounts charged to expense relative to this plan were nominal for the years ended December 31, 2021, 2020 and 2019.

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