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RETIREMENT BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022 included the following (amounts in thousands):

			Year ended December 31,
			2023						2022
Service cost			$	2,226					$	2,419
Interest cost			1,157						194
Expected return on plan assets			(1,450)						(1,381)
Amortization of prior service cost (credit)			(389)						(326)
Recognized actuarial losses			(391)						9
Settlements			—						—
Net period benefit cost			$	1,153					$	915

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, 2023 and 2022, respectively:

			As of December 31,
			2023						2022
Discount rate			1.51		%				2.44		%
Expected return on plan assets			3.67		%				3.61		%
Rate of compensation increase			2.00		%				1.97		%
Interest crediting rate for cash balance plans			1.00		%				1.00		%

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, 2023 and 2022 and a reconciliation of the funded status at December 31, 2023 and 2022, respectively (amounts in thousands):

			Year Ended December 31,
			2023						2022
Change In Projected Benefit Obligations
Projected benefit obligations, beginning of year			$	50,364					$	65,184
Interest cost			1,157						194
Service cost			2,226						2,419
Actuarial (gain) loss			8,229						(14,822)
Plan amendments			(1,772)						(390)
Plan settlements			(25)						(20)
Employee contribution			1,182						999
Premiums paid			(406)						(391)
Benefit payment			(812)						(999)
Effect of foreign currency exchange rates			4,958						(1,810)
Projected benefit obligations, end of year			$	65,101					$	50,364
			Year Ended December 31,
			2023						2022
Change In Plan Assets
Plan assets at fair value, beginning of year			$	38,053					$	39,914
Actual return on plan assets			1,350						(2,863)
Employer contributions			2,700						2,356
Employee contributions			1,182						999
Plan settlements			—						—
Benefits paid			(812)						(998)
Premiums paid			(406)						(391)
Effect of foreign currency exchange rates			3,657						(964)
Plan assets at fair value, end of year			$	45,724					$	38,053

Schedule of Funded Status

			Year Ended December 31,
			2023						2022
Reconciliation Of Funded Status
Fair value of plan assets			$	45,724					$	38,053
Benefit obligations			65,101						50,364
Unfunded benefit obligations			$	19,377					$	12,311

Schedule of Expected Benefit Payments

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

2024			$	2,457
2025			$	2,618
2026			$	2,251
2027			$	2,193
2028			$	2,388
Next five years			$	12,953

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