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RETIREMENT BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020 and 2019 included the following (amounts in thousands):

			Year ended December 31,
			2020						2019
Service cost			$	4,029					$	3,815
Interest cost			219						517
Expected return on plan assets			(652)						(1,047)
Amortization of prior service cost (credit)			(274)						(259)
Recognized actuarial losses			787						65
Settlements			(102)						602
Net period benefit cost			$	4,007					$	3,693

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, 2020 and 2019, respectively:

			As of December 31,
			2020						2019
Discount rate			0.34		%				0.40		%
Expected return on plan assets			2.04		%				3.33		%
Rate of compensation increase			2.14		%				2.25		%
Interest crediting rate for cash balance plans			1.00		%				0.93		%

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, 2020 and 2019 and a reconciliation of the funded status at December 31, 2020 and 2019, respectively (amounts in thousands):

			Year ended December 31,
			2020						2019
Change In Projected Benefit Obligations
Projected benefit obligations, beginning of year			$	66,972					$	52,542
Interest cost			219						517
Service cost			4,029						3,815
Actuarial (gain) loss			(3,347)						12,188
Plan amendments			—						(3,133)
Plan settlements			(77)						(2,664)
Employee contribution			883						899
Premiums paid			(388)						(395)
Benefit payment			(1,537)						(635)
Plans transferred in			—						3,199
Effect of foreign currency exchange rates			6,115						639
Projected benefit obligations, end of year			$	72,869					$	66,972
			Year ended December 31,
			2020						2019
Change In Plan Assets
Plan assets at fair value, beginning of year			$	30,770					$	31,103
Actual return on plan assets			2,882						(152)
Employer contributions			2,274						2,189
Employee contributions			883						899
Plan settlements			(56)						(2,645)
Benefits paid			(1,537)						(635)
Premiums paid			(388)						(395)
Effect of foreign currency exchange rates			2,997						406
Plan assets at fair value, end of year			$	37,825					$	30,770

Schedule of Funded Status

			Year ended December 31,
			2020						2019
Reconciliation Of Funded Status
Fair value of plan assets			$	37,825					$	30,770
Benefit obligations			72,869						66,972
Unfunded benefit obligations			$	35,044					$	36,202

Schedule of Expected Benefit Payments

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

2021			$	1,900
2022			$	1,626
2023			$	1,694
2024			$	1,789
2025			$	2,101
Next five years			$	10,429

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