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Postretirement Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items] |
Obligations and Funded Status | Obligations and Funded Status at December 31
|  | United States |  |  | United Kingdom |
(In thousands) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Change in benefit obligation |  |  |  |  |  |  |  |  |  |  |  |
Benefit obligation at beginning of year |  | $ | 130,467 |  |  | $ | 174,863 |  |  | $ | 13,286 |  |  | $ | 23,276 |
Interest cost |  |  | 6,949 |  |  |  | 4,923 |  |  |  | 669 |  |  |  | 374 |
Actuarial (income) loss |  |  | 3,634 |  |  |  | (40,420 | ) |  |  | (92 | ) |  |  | (7,333 | )
Benefits paid |  |  | (9,267 | ) |  |  | (8,899 | ) |  |  | (804 | ) |  |  | (709 | )
Foreign exchange impact |  |  | — |  |  |  | — |  |  |  | 691 |  |  |  | (2,322 | )
Benefit obligation at end of year |  | $ | 131,783 |  |  | $ | 130,467 |  |  | $ | 13,750 |  |  | $ | 13,286 |
|  | United States |  |  | United Kingdom |
(In thousands) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Change in plan assets |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  | $ | 136,744 |  |  | $ | 178,574 |  |  | $ | 15,163 |  |  | $ | 27,464 |
Actual return on plan assets |  |  | 10,237 |  |  |  | (33,187 | ) |  |  | 470 |  |  |  | (9,393 | )
Employer contributions |  |  | 271 |  |  |  | 256 |  |  |  | 464 |  |  |  | 536 |
Benefits paid |  |  | (9,267 | ) |  |  | (8,899 | ) |  |  | (804 | ) |  |  | (709 | )
Foreign exchange impact |  |  | — |  |  |  | — |  |  |  | 798 |  |  |  | (2,735 | )
Fair value of plan assets at end of year |  | $ | 137,985 |  |  | $ | 136,744 |  |  | $ | 16,091 |  |  | $ | 15,163 |
Over funded status at end of year |  | $ | 6,202 |  |  | $ | 6,277 |  |  | $ | 2,341 |  |  | $ | 1,877 |
Schedule of Amounts Recognized in Balance Sheets | The amounts recognized in the consolidated balance sheets at December 31 consisted of:
|  | United States |  |  | United Kingdom |
(In thousands) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Non-current assets |  | $ | 8,627 |  |  | $ | 8,700 |  |  | $ | 2,341 |  |  | $ | 1,877 |
Current liability |  |  | (308 | ) |  |  | (278 | ) |  |  | — |  |  |  | — |
Non-current liability |  |  | (2,117 | ) |  |  | (2,145 | ) |  |  | — |  |  |  | — |
Net amount recognized |  | $ | 6,202 |  |  | $ | 6,277 |  |  | $ | 2,341 |  |  | $ | 1,877 |
Amounts Recognized in Accumulated Other Comprehensive Income | The amounts recognized in accumulated other comprehensive income at December 31 consisted of:
|  | United States |  |  | United Kingdom |
(In thousands) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Net actuarial loss |  | $ | 20,755 |  |  | $ | 18,801 |  |  | $ | 5,989 |  |  | $ | 6,188 |
Components of Net Periodic Benefit Cost | Net periodic benefit costs for the years ended December 31, 2023, 2022 and 2021, were as follows:
|  | United States |  |  | United Kingdom |
(In thousands) |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2023 |  |  | 2022 |  |  | 2021 |
Interest cost |  | $ | 6,949 |  |  | $ | 4,923 |  |  | $ | 4,671 |  |  | $ | 669 |  |  | $ | 374 |  |  | $ | 357 |
Expected return on plan assets |  |  | (8,533 | ) |  |  | (8,802 | ) |  |  | (10,348 | ) |  |  | (695 | ) |  |  | (399 | ) |  |  | (320 | )
Amortization of net actuarial (gain) loss |  |  | (23 | ) |  |  | 2,277 |  |  |  | 4,444 |  |  |  | 334 |  |  |  | 9 |  |  |  | 129 |
Net periodic benefit cost |  | $ | (1,607 | ) |  | $ | (1,602 | ) |  | $ | (1,233 | ) |  | $ | 308 |  |  | $ | (16 | ) |  | $ | 166 |
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income | Other changes in plan assets and benefit obligations recognized in other comprehensive income for the years ended December 31, 2023, 2022 and 2021, were as follows:
|  | United States |  |  | United Kingdom |
(In thousands) |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2023 |  |  | 2022 |  |  | 2021 |
Net actuarial (gain) loss |  | $ | 1,930 |  |  | $ | 1,570 |  |  | $ | (9,793 | ) |  | $ | 135 |  |  | $ | 2,430 |  |  | $ | (757 | )
Amortization of net actuarial gain (loss) |  |  | 23 |  |  |  | (2,277 | ) |  |  | (4,444 | ) |  |  | (334 | ) |  |  | (9 | ) |  |  | (129 | )
Total recognized in other comprehensive income |  | $ | 1,953 |  |  | $ | (707 | ) |  | $ | (14,237 | ) |  | $ | (199 | ) |  | $ | 2,421 |  |  | $ | (886 | )
Total recognized in net periodic benefit cost and other comprehensive income |  | $ | 346 |  |  | $ | (2,309 | ) |  | $ | (15,470 | ) |  | $ | 109 |  |  | $ | 2,405 |  |  | $ | (720 | )
Estimated Future Benefit Payments | Estimated Future Benefit Payments
(In thousands) |  | United States |  |  | United Kingdom |
2024 |  | $ | 9,646 |  |  | $ | 606 |
2025 |  |  | 9,841 |  |  |  | 628 |
2026 |  |  | 10,023 |  |  |  | 671 |
2027 |  |  | 10,126 |  |  |  | 698 |
2028 |  |  | 10,158 |  |  |  | 733 |
2029-2033 |  |  | 49,888 |  |  |  | 4,116 |
Defined Contribution Expenses for Company's Qualified Defined Contribution Plans and Statutory Profit Sharing Contributions | Defined contribution expenses for the Company’s qualified defined contribution plans and statutory profit sharing contributions were as follows:
(In thousands) |  | 2023 |  |  | 2022 |  |  | 2021 |
Retirement contributions |  | $ | 8,930 |  |  | $ | 8,556 |  |  | $ | 8,134 |
Profit sharing contributions |  |  | 2,019 |  |  |  | 5,276 |  |  |  | 5,081 |
Total |  | $ | 10,949 |  |  | $ | 13,832 |  |  | $ | 13,215 |
United States [Member] |
Defined Benefit Plan Disclosure [Line Items] |
Company's Asset Allocations for its U.S. and U.K Pension Plans | The Company’s asset allocations for its U.S. pension plans at December 31, 2023 and 2022, by asset category, were as follows:
|  | December 31, 2023 |
(In thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Cash and Cash Equivalents |  | $ | 8,196 |  |  | $ | — |  |  | $ | — |  |  | $ | 8,196 |
Equity Securities |  |  |  |  |  |  |  |  |  |  |  |
U.S. Equities |  |  | 14,942 |  |  |  | — |  |  |  | — |  |  |  | 14,942 |
Non-U.S. Equities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Employer Securities |  |  | 12,316 |  |  |  | — |  |  |  | — |  |  |  | 12,316 |
Total Equities |  |  | 27,258 |  |  |  | — |  |  |  | — |  |  |  | 27,258 |
Fixed Income Securities |  |  |  |  |  |  |  |  |  |  |  |
U.S. Corporate Bonds |  |  | — |  |  |  | 57,595 |  |  |  | — |  |  |  | 57,595 |
U.S. Government and Agency Bonds |  |  | 30,278 |  |  |  | 3,533 |  |  |  | — |  |  |  | 33,811 |
Other Bonds |  |  | — |  |  |  | 11,125 |  |  |  | — |  |  |  | 11,125 |
Total Fixed Income |  |  | 30,278 |  |  |  | 72,253 |  |  |  | — |  |  |  | 102,531 |
Total |  | $ | 65,732 |  |  | $ | 72,253 |  |  | $ | — |  |  | $ | 137,985 |
|  | December 31, 2022 |
(In thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Cash and Cash Equivalents |  | $ | 7,531 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,531 |
Equity Securities |  |  |  |  |  |  |  |  |  |  |  |
U.S. Equities |  |  | 21,279 |  |  |  | — |  |  |  | — |  |  |  | 21,279 |
Non-U.S. Equities |  |  | 9,788 |  |  |  | — |  |  |  | — |  |  |  | 9,788 |
Employer Securities |  |  | 17,970 |  |  |  | — |  |  |  | — |  |  |  | 17,970 |
Total Equities |  |  | 49,037 |  |  |  | — |  |  |  | — |  |  |  | 49,037 |
Fixed Income Securities |  |  |  |  |  |  |  |  |  |  |  |
U.S. Corporate Bonds |  |  | — |  |  |  | 51,444 |  |  |  | — |  |  |  | 51,444 |
U.S. Government and Agency Bonds |  |  | 15,627 |  |  |  | 2,628 |  |  |  | — |  |  |  | 18,255 |
Other Bonds |  |  | — |  |  |  | 10,477 |  |  |  | — |  |  |  | 10,477 |
Total Fixed Income |  |  | 15,627 |  |  |  | 64,549 |  |  |  | — |  |  |  | 80,176 |
Total |  | $ | 72,195 |  |  | $ | 64,549 |  |  | $ | — |  |  | $ | 136,744 |
United Kingdom [Member] |
Defined Benefit Plan Disclosure [Line Items] |
Company's Asset Allocations for its U.S. and U.K Pension Plans | The Company’s asset allocations for its U.K. pension plans at December 31, 2023 and 2022, by asset category, were as follows:
|  | December 31, 2023 |
(In thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Cash |  |  | — |  |  | $ | 1,308 |  |  | $ | — |  |  | $ | 1,308 |
Equity Securities |  |  |  |  |  |  |  |  |  |  |  |
Pooled Pension Funds |  |  | — |  |  |  | 1,017 |  |  |  | — |  |  |  | 1,017 |
Fixed Income |  |  |  |  |  |  |  |  |  |  |  |
Pooled Pension Funds |  |  | — |  |  |  | 12,860 |  |  |  | — |  |  |  | 12,860 |
Real Estate |  |  |  |  |  |  |  |  |  |  |  |
Pooled Pension Funds |  |  | — |  |  |  | 146 |  |  |  | — |  |  |  | 146 |
Insurance Contracts |  |  | — |  |  |  | — |  |  |  | 760 |  |  |  | 760 |
Total |  | $ | — |  |  | $ | 15,331 |  |  | $ | 760 |  |  | $ | 16,091 |
|  | December 31, 2022 |
(In thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Cash |  | $ | — |  |  | $ | 1,448 |  |  | $ | — |  |  | $ | 1,448 |
Equity Securities |  |  |  |  |  |  |  |  |  |  |  |
Pooled Pension Funds |  |  | — |  |  |  | 1,688 |  |  |  | — |  |  |  | 1,688 |
Fixed Income |  |  |  |  |  |  |  |  |  |  |  |
Pooled Pension Funds |  |  | — |  |  |  | 11,350 |  |  |  | — |  |  |  | 11,350 |
Insurance Contracts |  |  | — |  |  |  | — |  |  |  | 677 |  |  |  | 677 |
Total |  | $ | — |  |  | $ | 14,486 |  |  | $ | 677 |  |  | $ | 15,163 |
Fair Value Changes within Asset Categories for which Fair Value Measurements Use Significant Unobservable Inputs (Level 3) Defined Benefit United States Plans and United Kingdom Plans | Fair value changes within asset categories for which fair value measurements use significant unobservable inputs (Level 3) were as follows during 2023 and 2022:
(In thousands) |  | Insurance Contracts |
Fair value, December 31, 2021 |  | $ | 1,003 |
Sale proceeds (benefit payments) |  |  | (104 | )
Change in unrealized gain |  |  | (120 | )
Foreign exchange impact |  |  | (102 | )
Fair value, December 31, 2022 |  | $ | 677 |
Sale proceeds (benefit payments) |  |  | (123 | )
Change in unrealized gain |  |  | 169 |
Foreign exchange impact |  |  | 37 |
Fair value, December 31, 2023 |  | $ | 760 |
Defined Benefit Plan Periodic Costs [Member] |
Defined Benefit Plan Disclosure [Line Items] |
Weighted-Average Assumptions Used to Determine Benefit Obligations/Net Periodic Benefit Costs | The weighted-average assumptions used to determine net periodic benefit costs for years ended December 31 were as follows:
|  | United States |  |  | United Kingdom |
|  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2023 |  |  | 2022 |  |  | 2021 |
Discount rate |  |  | 5.50 | % |  |  | 2.90 | % |  |  | 2.60 | % |  |  | 5.00 | % |  |  | 1.80 | % |  |  | 1.40 | %
Expected long-term return on plan assets |  |  | 5.50 | % |  |  | 5.50 | % |  |  | 6.75 | % |  |  | 4.47 | % |  |  | 1.61 | % |  |  | 1.13 | %
Benefit Obligation [Member] |
Defined Benefit Plan Disclosure [Line Items] |
Weighted-Average Assumptions Used to Determine Benefit Obligations/Net Periodic Benefit Costs | The weighted-average assumptions used to determine benefit obligations at December 31 were as follows:
|  | United States |  |  | United Kingdom |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Discount rate |  |  | 5.20 | % |  |  | 5.50 | % |  |  | 4.80 | % |  |  | 5.00 | %

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