XML 53 R38.htm IDEA: XBRL DOCUMENT
v3.24.0.1

EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Restricted Stock Units Outstanding |
(in thousands, except per share amounts) |  | Number of Shares |  | Weighted Average Grant-Date Fair Value Per Share
Balance at December 31, 2022 |  | 3,499 |  |  | $ | 8.93 |
Granted |  | 2,539 |  |  | 13.65 |
Vested |  | (2,516) |  |  | 8.96 |
Forfeited |  | (280) |  |  | 9.40 |
Balance at December 31, 2023 |  | 3,242 |  |  | $ | 12.42 |
Schedule of Allocation of the Share-Based Compensation Expense | The following table sets forth the detailed allocation of the share-based compensation expense which was included in the Company’s Consolidated Statements of Operations:
| Year Ended December 31,
(in thousands) | 2023 |  | 2022 |  | 2021
Share-based compensation expense included in: |  |  |  |  |
Cost of revenue | $ | 2,348 |  |  | $ | 2,233 |  |  | $ | 2,345 |
Research and development expense | 7,889 |  |  | 7,519 |  |  | 7,164 |
Selling, general and administrative expense | 17,092 |  |  | 15,460 |  |  | 14,547 |
Total | $ | 27,329 |  |  | $ | 25,212 |  |  | $ | 24,056 |
Share-based compensation expense by type of award: |  |  |  |  |
RSUs | $ | 19,863 |  |  | $ | 17,786 |  |  | $ | 14,573 |
PRSUs | 3,398 |  |  | 3,865 |  |  | 6,231 |
MRSUs | 1,705 |  |  | 1,558 |  |  | 1,304 |
Employee stock purchase rights under ESPP | 2,363 |  |  | 2,003 |  |  | 1,948 |
Total | $ | 27,329 |  |  | $ | 25,212 |  |  | $ | 24,056 |
Schedule of Pension Obligations | The Company’s pension obligations as of December 31, 2023 and 2022, and the changes to the Company’s pension obligations for each of those years, were as follows:
(in thousands) | 2023 |  | 2022
Projected benefit obligation: |  |  |
Balance at January 1 | $ | 5,283 |  |  | $ | 6,003 |
Service cost | 217 |  |  | 259 |
Interest cost | 169 |  |  | 50 |
Actuarial gains | (25) |  |  | (626) |
Benefits paid | (275) |  |  | (107) |
Foreign currency translation adjustment | 227 |  |  | (296) |
Balance at December 31 | $ | 5,596 |  |  | $ | 5,283 |
Presented on the Consolidated Balance Sheets as: |  |  |
Current portion (included in “Accrued and other current liabilities”) | $ | 33 |  |  | $ | 242 |
Long-term portion (included in “Other non-current liabilities”) | $ | 5,563 |  |  | $ | 5,041 |
Schedule of Components of Net Periodic Benefit Costs | The table below presents the components of net periodic benefit costs:
| Year Ended December 31,
(in thousands) | 2023 |  | 2022 |  | 2021
Service cost | $ | 217 |  |  | $ | 259 |  |  | $ | 272 |
Interest cost | 169 |  |  | 50 |  |  | 20 |
Net periodic benefit cost included in result of operations | $ | 386 |  |  | $ | 309 |  |  | $ | 292 |
Schedule of Pension Obligations Assumptions Used | The following assumptions were used in determining the Company’s pension obligation:
|  | As of December 31,
|  | 2023 |  | 2022
Discount rate |  | 3.8 | % |  | 3.3 | %
Mobility rate |  | 6.2 | % |  | 6.6 | %
Salary progression rate |  | 3.0 | % |  | 3.0 | %
Schedule of Expected Benefit Payments | As of December 31, 2023, future benefits expected to be paid in each of the next five years, and in the aggregate for the five-year period thereafter are as follows (in thousands):
Year ending December 31, |
2024 | $ | 33 |
2025 | 154 |
2026 | 180 |
2027 | 399 |
2028 | 797 |
2029 – 2033 | 4,210 |
Total | $ | 5,773 |
Schedule of Valuation Assumptions for Stock Options | At the date of grant, the Company estimated the fair value of each stock purchase right granted under the ESPP using the following weighted average assumptions:
|  | Year Ended December 31,
|  |  |  |  |  |  | 2023 |  | 2022 |  | 2021
Expected term (in years) |  |  |  |  |  |  | 0.50 |  | 0.50 |  | 0.50
Volatility |  |  |  |  |  |  | 46 | % |  | 47 | % |  | 45 | %
Risk-free interest rate |  |  |  |  |  |  | 5.2 | % |  | 1.4 | % |  | 0.1 | %
Expected dividends |  |  |  |  |  |  | 0.0 | % |  | 0.0 | % |  | 0.0 | %

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (k) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 20 -Topic 715 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480482/715-20-55-17 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-4 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-2 + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration