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Pension Plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Retirement Benefits [Abstract] |
Summary of U.S. Plans | A summary of the U.S. Plan follows for the year ended December 31:
| 2024 |  | 2023 |  | 2022
Service cost | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost | 1,540 |  |  | 1,568 |  |  | 1,185 |
Expected return on plan assets | (1,940) |  |  | (2,017) |  |  | (2,455) |
Recognized net actuarial loss | 445 |  |  | 463 |  |  | 445 |
Net periodic pension expense (benefit) | $ | 45 |  |  | $ | 14 |  |  | $ | (825) |
Schedule of Changes in Benefit Obligations, Change in Plan Assets, Funded Status, and Amounts Recognized in Consolidated Financial Statements | The following tables set forth the changes in benefit obligations, the change in plan assets, the funded status, and amounts recognized in the consolidated financial statements for the U.S. Plan at December 31:
| 2024 |  | 2023
Projected benefit obligation at beginning of the year | $ | 29,773 |  |  | $ | 29,013 |
Interest cost | 1,540 |  |  | 1,568 |
Actuarial (gain) loss | (1,557) |  |  | 670 |
Benefits paid | (1,581) |  |  | (1,478) |
Projected benefit obligation at end of year | $ | 28,175 |  |  | $ | 29,773 |
Fair value of plan assets at beginning of the year | $ | 31,896 |  |  | $ | 29,632 |
Actual return on plan assets | (1,221) |  |  | 2,242 |
Employer contributions | — |  |  | 1,500 |
Benefits paid | (1,581) |  |  | (1,478) |
Fair value of plan assets at end of the year | $ | 29,094 |  |  | $ | 31,896 |
Pension asset | $ | (919) |  |  | $ | (2,123) |
Schedule of Amount Recognized in Accumulated Other Comprehensive Loss Related to Pension Plan | In 2024, in accordance with ASC 715-20, the Company recognized the over-funded status of the U.S. Plan as a non-current asset. The amount recognized in Accumulated other comprehensive loss related to the U.S. Plan at December 31 is comprised of the following:
| 2024 |  | 2023
Balance at January 1 | $ | (4,478) |  |  | $ | (4,492) |
Reclassification adjustments: |  |  |
Pre-tax amortized net actuarial loss | 445 |  |  | 463 |
Tax benefit | (104) |  |  | (110) |
| 341 |  |  | 353 |
Adjustment to recognize loss on pension asset: |  |  |
Pre-tax loss | (1,605) |  |  | (445) |
Tax benefit | 369 |  |  | 106 |
| (1,236) |  |  | (339) |
Balance at December 31, | $ | (5,373) |  |  | $ | (4,478) |
Schedule of Excess of U.S. Plan Assets of Accumulated Benefit Obligations | The U.S. Plan had assets in excess of accumulated benefit obligations as follows:
| 2024 |  | 2023
Accumulated benefit obligation | $ | 28,175 |  |  | $ | 29,773 |
Fair market value of assets | 29,094 |  |  | 31,896 |
Schedule of Weighted-Average Assumptions Used to Determine Benefit Obligations & Net Periodic Benefit Cost |
Weighted-average assumptions used to determine benefit obligations at: | 2024 |  | 2023
Discount rate | 5.77% |  | 5.34%
Rate of compensation increase | n/a |  | n/a
Weighted-average assumptions used to determine net periodic benefit cost at: | 2024 |  | 2023 |  | 2022
Discount rate | 5.34% |  | 5.55% |  | 2.92%
Rate of compensation increase | n/a |  | n/a |  | n/a
Expected long-term return on plan assets | 6.25% |  | 7.00% |  | 6.50%
Schedule of Weighted-Average Target Allocations of Plan Assets | The U.S. Plan weighted-average asset allocations at December 31, 2024 and 2023, by asset category, are as follows:
|  | Plan assets at December 31,
Asset category |  | 2024 |  | 2023
Equity securities |  | — | % |  | 18 | %
Debt securities |  | 100 |  |  | 77 |
Cash and equivalents |  | — |  |  | 5 |
|  | 100 | % |  | 100 | %
In recognition of the expected returns and volatility from financial assets, U.S. Plan assets are invested in the following ranges with the target allocation noted below. The Company reassesses the target allocations periodically:
| Range |  | Target
Equities | —% |  | —%
Fixed Income | 100% |  | 100%
Cash Equivalents | —% |  | —%
Schedule of Aggregate Benefits Expected to be Paid Out of U.S. Plan Assets | If the U.S. Plan is not terminated, the benefits expected to be paid out of the U.S. Plan assets in each of the next five years and the aggregate benefits expected to be paid for the subsequent five years are as follows:
Year |  | Pension Benefits
2025 |  | $ | 1,618 |
2026 |  | 1,675 |
2027 |  | 1,756 |
2028 |  | 1,827 |
2029 |  | 1,874 |
2030-2034 |  | 10,268 |

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- Definition Tabular disclosure of benefit obligation and plan assets of defined benefit plan with accumulated benefit obligation in excess of plan assets. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480482/715-20-55-17 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-3 + Details
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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (d)(5) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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