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Pension and Other Post Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2024

Retirement Benefits [Abstract]

Schedule of funded status of Company's plans' reconciled with amounts reported in the Consolidated Balance Sheets

The following table shows the funded status of the Company’s plans’ reconciled with amounts reported in the Consolidated Balance Sheets as of December 31, 2024 and 2023:

			Pension Benefits																																				Other Post- Retirement Benefits
			2024																		2023																		2024						2023
			Foreign						U.S.						Total						Foreign						U.S.						Total						U.S.						U.S.
Change in benefit obligation
Gross benefit obligation at beginning of year			$	144,779					$	79,063					$	223,842					$	130,554					$	79,086					$	209,640					$	1,343					$	1,606
Service cost			417						—						417						399						28						427						—						—
Interest cost			5,817						3,672						9,489						6,083						3,849						9,932						61						69
Effect of plan amendments			—						—						—						—						(15)						(15)						—						—
Curtailment (gain) loss			(19)						—						(19)						(213)						—						(213)						—						—
Benefits paid			(6,377)						(6,519)						(12,896)						(6,086)						(6,031)						(12,117)						(156)						(182)
Plan expenses and premiums paid			(36)						—						(36)						—						—						—						—						—
Actuarial (gain) loss			(6,589)						(2,845)						(9,434)						7,809						2,146						9,955						(61)						(150)
Translation differences and other			(6,198)						(1)						(6,199)						6,233						—						6,233						26						—
Gross benefit obligation at end of year			$	131,794					$	73,370					$	205,164					$	144,779					$	79,063					$	223,842					$	1,213					$	1,343

			Pension Benefits																																				Other Post- Retirement Benefits
			2024																		2023																		2024						2023
			Foreign						U.S.						Total						Foreign						U.S.						Total						U.S.						U.S.
Change in plan assets
Fair value of plan assets at beginning of year			$	135,387					$	60,967					$	196,354					$	129,944					$	59,591					$	189,535					$	—					$	—
Actual return on plan assets			(3,003)						1,349						(1,654)						4,474						4,640						9,114						—						—
Employer contributions			2,043						3,751						5,794						1,566						2,767						4,333						156						182
Benefits paid			(6,377)						(6,519)						(12,896)						(6,086)						(6,031)						(12,117)						(156)						(182)
Plan expenses and premiums paid			(36)						—						(36)						—						—						—						—						—
Translation differences			(5,051)						—						(5,051)						5,489						—						5,489						—						—
Fair value of plan assets at end of year			$	122,963					$	59,548					$	182,511					$	135,387					$	60,967					$	196,354					$	—					$	—
Net benefit obligation recognized			$	(8,831)					$	(13,822)					$	(22,653)					$	(9,392)					$	(18,096)					$	(27,488)					$	(1,213)					$	(1,343)
Amounts recognized in the balance sheet consist of:
Non-current assets			$	2,245					$	—					$	2,245					$	2,834					$	—					$	2,834					$	—					$	—
Current liabilities			(400)						(1,758)						(2,158)						(273)						(1,757)						(2,030)						(170)						(178)
Non-current liabilities			(10,676)						(12,064)						(22,740)						(11,953)						(16,339)						(28,292)						(1,043)						(1,165)
Net benefit obligation recognized			$	(8,831)					$	(13,822)					$	(22,653)					$	(9,392)					$	(18,096)					$	(27,488)					$	(1,213)					$	(1,343)
Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss:
Prior service cost			(265)						—						(265)						(353)						—						(353)						—						—
Accumulated (loss) gain			(19,775)						3,905						(15,870)						(19,117)						2,248						(16,869)						1,199						1,241
AOCI			(20,040)						3,905						(16,135)						(19,470)						2,248						(17,222)						1,199						1,241
Cumulative employer contributions in excess of or (below) net periodic benefit cost			11,209						(17,727)						(6,518)						10,078						(20,344)						(10,266)						(2,412)						(2,584)
Net benefit obligation recognized			$	(8,831)					$	(13,822)					$	(22,653)					$	(9,392)					$	(18,096)					$	(27,488)					$	(1,213)					$	(1,343)

Schedule of Information for pension plans with an accumulated benefit obligation in excess of plan assets

Information for pension plans with an accumulated benefit obligation in excess of plan assets:

			2024																		2023
			Foreign						U.S.						Total						Foreign						U.S.						Total
Accumulated benefit obligation			72,836						73,370						146,206						75,402						79,063						154,465
Fair value of plan assets			66,838						59,548						126,386						69,419						60,967						130,386

Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets

Information for pension plans with a projected benefit obligation in excess of plan assets:

			2024																		2023
			Foreign						U.S.						Total						Foreign						U.S.						Total
Projected benefit obligation			$	77,914					$	73,370					$	151,284					$	93,733					$	79,063					$	172,796
Fair value of plan assets			66,838						59,548						126,386						81,507						60,967						142,474

Schedule of components of net periodic benefit costs - pension plans

Components of net periodic benefit costs – pension plans:

			2024																		2023
			Foreign						U.S.						Total						Foreign						U.S.						Total
Service cost			$	417					$	—					$	417					$	399					$	28					$	427
Interest cost			5,817						3,672						9,489						6,083						3,849						9,932
Expected return on plan assets			(5,571)						(2,562)						(8,133)						(5,271)						(2,799)						(8,070)
Curtailment (gain) loss			(19)						—						(19)						(213)						15						(198)
Actuarial loss amortization			481						24						505						388						22						410
Prior service cost amortization			27						(1)						26						28						6						34
Net periodic benefit cost			$	1,152					$	1,133					$	2,285					$	1,414					$	1,121					$	2,535

			2022
			Foreign						U.S.						Total
Service cost			$	465					$	47					$	512
Interest cost			3,079						2,145						5,224
Expected return on plan assets			(4,472)						(3,509)						(7,981)
Settlement gain			(71)						—						(71)
Curtailment charge			207						—						207
Actuarial loss amortization			658						323						981
Prior service credit amortization			3						7						10
Net periodic benefit income			$	(131)					$	(987)					$	(1,118)

Components of net periodic benefit costs – other postretirement plan:

			2024						2023						2022
Service cost			$	—					$	—					$	—
Interest cost			61						69						37
Actuarial gain amortization			(102)						(128)						(79)
Prior service credit amortization			—						(16)						(32)
Net periodic benefit costs			$	(41)					$	(75)					$	(74)

Schedule of other changes recognized in other comprehensive income - pension plans

Other changes recognized in other comprehensive income – pension plans:

			2024																		2023
			Foreign						U.S.						Total						Foreign						U.S.						Total
Net loss (gain) arising during the period			$	1,985					$	(1,631)					$	354					$	8,605					$	398					$	9,003
Settlement loss			—						(24)						(24)						—						(23)						(23)
Prior service cost			—						—						—						—						(15)						(15)
Actuarial loss			(481)						—						(481)						(388)						(92)						(480)
Curtailment recognition			(27)						—						(27)						(28)						—						(28)
Effect of exchange rates on amounts included in AOCI			(908)						—						(908)						560						—						560
Total recognized in other comprehensive loss (income)			569						(1,655)						(1,086)						8,749						268						9,017
Total recognized in net periodic benefit cost and other comprehensive loss (income)			$	1,721					$	(521)					$	1,200					$	10,163					$	1,389					$	11,552

			2022
			Foreign						U.S.						Total
Net gain arising during period			$	(7,008)					$	(3,555)					$	(10,563)
Settlement loss			—						(323)						(323)
Prior service credit (cost)			303						(7)						296
Actuarial (loss) gain			(587)						1,247						660
Curtailment recognition			(3)						—						(3)
Effect of exchange rates on amounts included in AOCI			(1,169)						—						(1,169)
Total recognized in other comprehensive income			(8,464)						(2,638)						(11,102)
Total recognized in net periodic benefit cost and other comprehensive income			$	(8,595)					$	(3,625)					$	(12,220)

Other changes recognized in other comprehensive income – other postretirement benefit plans:

			2024						2023						2022
Net gain arising during period			$	(61)					$	(150)					$	(263)
Recognition of amortizations in net periodic benefit cost			—						—						(2)
Prior service credit			—						16						32
Actuarial gain amortization			102						127						79
Total recognized in other comprehensive loss (income)			41						(7)						(154)
Total recognized in net periodic benefit cost and other comprehensive loss (income)			$	—					$	(82)					$	(228)

Schedule of Weighted-average assumptions used to determine benefit obligations

Weighted-average assumptions used to determine benefit obligations as of December 31, 2024 and 2023:

			Pension Benefits												Other Postretirement Benefits
			2024						2023						2024						2023
U.S. Plans
Discount rate			5.49%						4.94%						5.34%						4.87%
Rate of compensation increase			N/A						N/A						N/A						N/A
Foreign Plans
Discount rate			4.64%						4.35%						N/A						N/A
Rate of compensation increase			3.33%						3.27%						N/A						N/A

Weighted-average assumptions used to determine net periodic benefit costs for the years ended December 31, 2024, 2023 and 2022:

			Pension Benefits																		Other Postretirement Benefits
			2024						2023						2022						2024						2023						2022
U.S. Plans
Discount rate			4.94		%				5.21		%				2.67		%				4.87		%				5.15		%				2.45		%
Expected long-term return on plan assets			5.50		%				5.50		%				5.75		%				N/A						N/A						N/A
Rate of compensation increase			N/A						N/A						N/A						N/A						N/A						N/A
Foreign Plans
Discount rate			4.33		%				4.77		%				3.97		%				N/A						N/A						N/A
Expected long-term return on plan assets			4.20		%				4.03		%				2.26		%				N/A						N/A						N/A
Rate of compensation increase			3.26		%				3.38		%				3.21		%				N/A						N/A						N/A

Schedule of Assumed health care cost trend rates

Assumed health care cost trend rates as of December 31, 2024, 2023 and 2022:

			2024						2023						2022
Health care cost trend rate for next year			7.05		%				6.87		%				5.60		%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)			4.00		%				4.00		%				4.00		%
Year that the rate reaches the ultimate trend rate			2049						2048						2047

Schedule of company's pension plan target asset allocation and pension plan investments measured at fair value on a recurring basis

The Company’s pension plan target asset allocation and the weighted-average asset allocations as of December 31, 2024 and 2023 by asset category were as follows:

Asset Category			Target						2024						2023
U.S. Plans
Equity securities			30		%				27		%				23		%
Debt securities			70		%				71		%				70		%
Other			—		%				2		%				7		%
Total			100		%				100		%				100		%
Foreign Plans
Equity securities			17		%				18		%				15		%
Debt securities			65		%				62		%				63		%
Other			18		%				20		%				22		%
Total			100		%				100		%				100		%

As of December 31, 2024 and 2023, the U.S. and foreign plans’ investments measured at fair value on a recurring basis were as follows:

												Fair Value Measurements at December 31, 2024
						Total Fair Value						Using Fair Value Hierarchy
U.S. Pension Assets												Level 1						Level 2						Level 3
Pooled separate accounts						$	58,454					$	—					$	58,454					$	—
Real estate						1,094						—						—						1,094
Subtotal U.S. pension plan assets in fair value hierarchy						$	59,548					$	—					$	58,454					$	1,094
Total U.S. pension plan assets						$	59,548
Foreign Pension Assets
Cash and cash equivalents						$	1,014					$	1,014					$	—					$	—
Insurance contract						107,797						—						—						107,797
Diversified equity securities - registered investment companies						2,045						—						2,045						—
Fixed income – foreign registered investment companies						8,355						—						8,355						—
Real estate						1,717						—						—						1,717
Subtotal foreign pension assets in fair value hierarchy						$	120,928					$	1,014					$	10,400					$	109,514
Commingled funds measured at NAV						2,035
Total foreign pension assets						$	122,963
Total pension assets in fair value hierarchy						$	180,476					$	1,014					$	68,854					$	110,608
Total pension assets measured at NAV						2,035
Total pension assets						$	182,511

												Fair Value Measurements at December 31, 2023
						Total Fair Value						Using Fair Value Hierarchy
U.S. Pension Assets												Level 1						Level 2						Level 3
Pooled separate accounts						$	56,820					$	—					$	56,820					$	—
Real estate						4,147						—						—						4,147
Subtotal U.S. pension plan assets in fair value hierarchy						$	60,967					$	—					$	56,820					$	4,147
Total U.S. pension plan assets						$	60,967
Foreign Pension Assets
Cash and cash equivalents						$	1,582					$	1,582					$	—					$	—
Insurance contract						118,393						—						—						118,393
Diversified equity securities - registered investment companies						1,892						—						1,892						—
Fixed income – foreign registered investment companies						9,676						—						9,676						—
Real estate						1,771						—						—						1,771
Subtotal foreign pension assets in fair value hierarchy						$	133,314					$	1,582					$	11,568					$	120,164
Commingled funds measured at NAV						2,073
Total foreign pension assets						$	135,387
Total pension assets in fair value hierarchy						$	194,281					$	1,582					$	68,388					$	124,311
Total pension assets measured at NAV						2,073
Total pension assets						$	196,354

Schedule of changes in the fair value of the plans' Level 3 investments

Changes in the fair value of the plans’ Level 3 investments during the years ended December 31, 2024 and 2023 were as follows:

			Insurance Contract						Real Estate												Total
Balance as of December 31, 2022			$	59,963					$	8,902											$	68,865
Purchases (Sales)			47,640						(303)												47,337
Unrealized gains (losses)			7,621						(2,867)												4,754
Currency translation adjustment			3,169						186												3,355
Balance as of December 31, 2023			118,393						5,918												124,311
Sales			(1,310)						(2,952)												(4,262)
Unrealized losses			(4,620)						(128)												(4,748)
Currency translation adjustment			(4,666)						(27)												(4,693)
Balance as of December 31, 2024			$	107,797					$	2,811											$	110,608

Schedule of Expected Benefit Payments

Excluding any impact related to the PPA noted above, the following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:

			Pension Benefits																		Other Post- Retirement Benefits
			Foreign						U.S.						Total
2025			$	6,354					$	7,958					$	14,312					$	170
2026			7,099						6,930						14,029						161
2027			6,800						6,247						13,047						140
2028			6,945						6,173						13,118						130
2029			8,453						6,070						14,523						120
2030 to 2034			43,345						28,280						71,625						469

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Tabular disclosure of benefit obligation and plan assets of defined benefit plan with accumulated benefit obligation in excess of plan assets.

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-SubTopic 20
-Subparagraph (l)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

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- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (h)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

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