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RETIREMENT BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2024
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, 2024 and 2023 included the following (amounts in thousands):
Year ended December 31,
20242023
Service cost$3,113 $2,226 
Interest cost866 1,157 
Expected return on plan assets(1,639)(1,450)
Amortization of prior service cost (credit)(585)(389)
Settlements(144)— 
Actuarial losses6 (391)
Net periodic benefit cost$1,617 $1,153 
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, 2024 and 2023, respectively:
As of December 31,
20242023
Discount rate1.14 %1.51 %
Expected return on plan assets3.65 %3.67 %
Rate of compensation increase2.12 %2.00 %
Interest crediting rate for cash balance plans1.00 %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, 2024 and 2023 and a reconciliation of the funded status at December 31, 2024 and 2023, respectively (amounts in thousands):
Year Ended December 31,
20242023
Change In Projected Benefit Obligations
Projected benefit obligations, beginning of year$65,101 $50,364 
Interest cost866 1,157 
Service cost3,113 2,226 
Actuarial loss4,219 8,229 
Plan amendments— (1,772)
Plan settlements(870)(25)
Employee contribution1,265 1,182 
Premiums paid(456)(406)
Benefit payment(1,607)(812)
Net transfer in/(out)584 — 
Effect of foreign currency exchange rates(4,953)4,958 
Projected benefit obligations, end of year$67,262 $65,101 
Year Ended December 31,
20242023
Change In Plan Assets
Plan assets at fair value, beginning of year$45,724 $38,053 
Actual return on plan assets8,200 1,350 
Employer contributions2,874 2,700 
Employee contributions1,265 1,182 
Plan settlements(870)— 
Benefits paid(1,581)(812)
Premiums paid(456)(406)
Net transfer in/(out)322 — 
Effect of foreign currency exchange rates(3,660)3,657 
Plan assets at fair value, end of year$51,818 $45,724 
Schedule of Funded Status
Year Ended December 31,
20242023
Reconciliation Of Funded Status
Fair value of plan assets$51,818 $45,724 
Benefit obligations67,262 65,101 
Unfunded benefit obligations$15,444 $19,377 
Schedule of Expected Benefit Payments
The following table is the summary of expected future benefit payments (in thousands):
2025$2,514 
2026$2,230 
2027$2,149 
2028$2,332 
2029$2,348 
Next five years$12,278