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Pension and Other Post Retirement Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2020
Compensation And Retirement Disclosure [Abstract] |
Components of Net Periodic Benefit Cost for Company's Defined Benefit Plans | The components of net periodic benefit cost for the Company’s defined benefit plans for the years ended December 31, 2020, 2019 and 2018 were as follows:
|  | U.S. Plan |  |  | German Plan |
|  | Year Ended December 31, |  |  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2020 |  |  | 2019 |  |  | 2018 |
Net periodic benefit cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost |  |  | 85 |  |  |  | 127 |  |  |  | 114 |  |  |  | 88 |  |  |  | 147 |  |  |  | 147 |
Expected return on plan assets |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (121 | ) |  |  | (126 | ) |  |  | (130 | )
Amortization of prior service cost and actuarial loss |  |  | 7 |  |  |  | — |  |  |  | — |  |  |  | 124 |  |  |  | 72 |  |  |  | 73 |
Net periodic benefit cost |  | $ | 92 |  |  | $ | 127 |  |  | $ | 114 |  |  | $ | 91 |  |  | $ | 93 |  |  | $ | 90 |
Assumptions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 2.40 | % |  |  | 3.65 | % |  |  | 2.95 | % |  |  | 1.08 | % |  |  | 1.06 | % |  |  | 2.04 | %
Long-term return on assets |  | N/A |  |  | N/A |  |  | N/A |  |  |  | 2.90 | % |  |  | 3.10 | % |  |  | 3.40 | %
Reconciliation of Change in Benefit Obligation, Change in Plan Assets and Balance Sheet Classification | A reconciliation of the change in benefit obligation and the change in plan assets for the years ended December 31, 2020 and 2019 is as follows:
|  | U.S. Plan |  |  | German Plan |
|  | As of December 31, |  |  | As of December 31, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Change in projected benefit obligation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of year |  | $ | 3,871 |  |  | $ | 3,832 |  |  | $ | 8,353 |  |  | $ | 7,529 |
Interest cost |  |  | 85 |  |  |  | 127 |  |  |  | 88 |  |  |  | 147 |
Paid pension distributions |  |  | (342 | ) |  |  | (342 | ) |  |  | (294 | ) |  |  | (285 | )
Actuarial losses |  |  | 233 |  |  |  | 254 |  |  |  | 40 |  |  |  | 1,116 |
Exchange rate impact |  |  | — |  |  |  | — |  |  |  | 747 |  |  |  | (154 | )
Balance at end of year |  | $ | 3,847 |  |  | $ | 3,871 |  |  | $ | 8,934 |  |  | $ | 8,353 |
Change in plan assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of year |  |  | — |  |  | $ | — |  |  |  | 3,825 |  |  |  | 3,808 |
Actual return on plan assets |  |  | — |  |  |  | — |  |  |  | 121 |  |  |  | 126 |
Contributions |  |  | — |  |  |  | — |  |  |  | 294 |  |  |  | 284 |
Paid pension distributions |  |  | — |  |  |  | — |  |  |  | (294 | ) |  |  | (284 | )
Actuarial losses |  |  | — |  |  |  | — |  |  |  | (25 | ) |  |  | (30 | )
Exchange rate impact |  |  | — |  |  |  | — |  |  |  | 355 |  |  |  | (79 | )
Balance at end of year |  | $ | — |  |  | $ | — |  |  | $ | 4,276 |  |  | $ | 3,825 |
Underfunded Status |  | $ | (3,847 | ) |  | $ | (3,871 | ) |  | $ | (4,658 | ) |  | $ | (4,528 | )
Balance sheet classification: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other current liabilities |  |  | (342 | ) |  |  | (342 | ) |  |  | — |  |  |  | — |
Pension benefit obligation |  |  | (3,505 | ) |  |  | (3,529 | ) |  |  | (4,658 | ) |  |  | (4,528 | )
Accumulated other comprehensive loss (pre-tax): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Actuarial losses |  |  | 701 |  |  |  | 476 |  |  |  | 3,644 |  |  |  | 3,398 |
Assumptions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 1.20 | % |  |  | 2.40 | % |  |  | 1.08 | % |  |  | 1.06 | %
Summary of Pre-tax Amounts in AOCI Expected to Be Recognized in Net Periodic Benefit Cost | Pre-tax amounts included in AOCI that are expected to be recognized in net periodic benefit cost during the year ended December 31, 2021 are as follows:
|  | U.S Plan |  |  | German Plan |
Actuarial losses |  | $ | 26 |  |  | $ | 126 |
Summary of Accumulated Benefit Obligations | The accumulated benefit obligations were as follows:
|  | U.S. Plan |  |  | German Plan |
|  | As of December 31, |  |  | As of December 31, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Accumulated benefit obligation |  | $ | 3,847 |  |  | $ | 3,871 |  |  | $ | 8,934 |  |  | $ | 8,529 |
Schedule of Future Expected Pension Payments | The schedule of future expected pension payments is as follows:
|  | Projected Pension Benefit Payments |
Year |  | U.S Plan |  |  | German Plan |
2021 |  | $ | 342 |  |  | $ | 296 |
2022 |  |  | 342 |  |  |  | 291 |
2023 |  |  | 342 |  |  |  | 301 |
2024 |  |  | 342 |  |  |  | 295 |
2025 |  |  | 342 |  |  |  | 287 |
2026-2030 |  |  | 1,710 |  |  |  | 2,886 |
Total |  | $ | 3,420 |  |  | $ | 4,356 |

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