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RETIREMENT BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2019

Retirement Benefits [Abstract]

Schedule of Net Periodic Benefit Costs

Net periodic benefit costs for the Company’s defined benefit pension plans for the years ended December 31, 2019 and 2018 included the following (amounts in thousands):

	Year ended December 31,
	2019				2018
Service cost	$	3,815			$	2,704
Interest cost	517				351
Expected return on plan assets	(1,047		)		(944		)
Amortization of prior service cost (credit)	(259		)		—
Recognized actuarial losses	65				8
Settlements	602				—
Net period benefit cost	$	3,693			$	2,119

Schedule of Weighted Average Assumptions Used

The following weighted average assumptions were used to develop net periodic pension benefit costs and the actuarial present values of projected pension benefit obligations for the years ended December 31, 2019 and 2018, respectively:

	As of December 31,
	2019			2018
Discount rate	0.40	%		1.00	%
Expected return on plan assets	3.33	%		3.40	%
Rate of compensation increase	2.25	%		1.70	%

Schedule of Benefit Obligations and Plan Assets

The following sets forth the change in projected benefit obligations and the change in plan assets for the years ended December 31, 2019 and 2018 and a reconciliation of the funded status at December 31, 2019 and 2018, respectively (amounts in thousands):

	Year ended December 31,
	2019				2018
Change In Projected Benefit Obligations
Projected benefit obligations, beginning of year	$	52,542			$	47,661
Interest cost	517				351
Service cost	3,815				2,704
Actuarial loss	12,188				762
Plan amendments	(3,133		)		—
Plan settlements	(2,664		)		—
Employee contribution	899				641
Premiums paid	(395		)		—
Benefit payment	(635		)		(1,483		)
Plans transferred in	3,199				2,280
Effect of foreign currency exchange rates	639				(374		)
Projected benefit obligations, end of year	$	66,972			$	52,542
	Year ended December 31,
	2019				2018
Change In Plan Assets
Plan assets at fair value, beginning of year	$	31,103			$	26,943
Actual return on plan assets	(152		)		1,802
Employer contributions	2,189				1,720
Employee contributions	899				641
Plan settlements	(2,645		)		—
Benefits paid	(635		)		(1,463		)
Premiums paid	(395		)		—
Plans transferred in	—				1,589
Effect of foreign currency exchange rates	406				(129		)
Plan assets at fair value, end of year	$	30,770			$	31,103

Schedule of Funded Status

	Year ended December 31,
	2019				2018
Reconciliation Of Funded Status
Fair value of plan assets	$	30,770			$	31,103
Benefit obligations	66,972				52,542
Unfunded benefit obligations	$	36,202			$	21,439

Schedule of Expected Benefit Payments

The following table is the summary of expected future benefit payments (in thousands):

2020	$	1,702
2021	1,743
2022	1,499
2023	1,650
2024	2,115
Next five years	10,157

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