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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2019

Compensation And Retirement Disclosure [Abstract]

Summary of Funded Status (Unfunded Liability) of Partnerships in Care Pension Plan Based Upon Actuarial Valuations

The following table summarizes the funded status (unfunded liability) of the Partnerships in Care Pension Plan based upon actuarial valuations prepared at December 31, 2019 and 2018 (in thousands):

		2019				2018
Projected benefit obligation		$	66,468			$	57,993
Fair value of plan assets			62,207				54,491
Unfunded liability		$	4,261			$	3,502

Summary of Changes in Partnerships in Care Pension Plan Net Pension Liability

The following table summarizes changes in the Partnerships in Care Pension Plan net pension liability at December 31, 2019 and 2018 (in thousands):

		2019				2018
Net pension liability at beginning of period		$	3,502			$	8,795
Employer contributions			(2,413	)			(2,267	)
Net pension expense			(933	)			283
Pension liability adjustment			4,012				(2,803	)
Foreign currency translation (loss) gain			93				(506	)
Net pension liability at end of period		$	4,261			$	3,502

Summary of Assumptions Used to Determine Plan Benefit obligation

A pension liability of $4.3 million and $3.5 million were recorded within other liabilities on the consolidated balance sheets at December 31, 2019 and 2018. The following assumptions were used to determine the plan benefit obligation:

Discount rate			1.9	%			2.8	%
Compensation increase rate			2.9	%			3.3	%
Measurement date		December 31, 2019				December 31, 2018

Assumptions used to determine the net periodic pension plan expense for the years ended December 31, 2019 and 2018 were as follows:

		2019				2018
Discount rate			1.9	%			2.8	%
Expected long-term rate of return on plan assets			1.9	%			2.8	%

Summary of Components of Net Pension Plan Expense

A summary of the components of net pension plan expense for the years ended December 31, 2019 and 2018 is as follows (in thousands):

		2019				2018
Interest cost on projected benefit obligation		$	1,605			$	1,602
Expected return on assets			(2,538	)			(1,319	)
Net pension expense		$	(933	)		$	283

Schedule of Weighted-Average Asset Allocation by Asset Category in Partnerships in Care Pension Plan

The Partnerships in Care Pension Plan’s weighted-average asset allocations by asset category at December 31, 2019 and 2018 were as follows:

		December 31, 2019				December 31, 2018
Cash and cash equivalents			1.4	%			1.3	%
U.K. government obligation			16.2	%			15.0	%
Annuity contracts			35.1	%			38.6	%
Equity securities			28.8	%			25.4	%
Debt securities			12.5	%			15.8	%
Other			6.0	%			3.9	%

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- Definition

Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(5)
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Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
-Section 50
-Paragraph 1
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Tabular disclosure of the change in the accumulated postemployment benefit obligation from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits.

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-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 1
-Subparagraph (a)
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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.

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-Section 50
-Paragraph 1
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Tabular disclosure of net funded status of pension plans and/or other employee benefit plans.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
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