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Employee Benefit Plans
 9 Months Ended
Sep. 30, 2021
Retirement Benefits [Abstract]  
Employee Benefit Plans
14. Employee Benefit Plans
The Company sponsors a U.S. defined contribution 401(k), which allows eligible U.S.-based employees to defer a portion of their compensation. The Company, at its discretion, may make matching contributions. With the acquisition of Voxbone S.A. on November 1, 2020, the Company assumed sponsorship for Voxbone S.A.’s U.S. defined contribution 401(k). In connection with that acquisition, the Company also assumed sponsorship for a non-U.S. defined contribution plan for which it pays fixed contributions into a separate entity. The Company has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current or prior periods. The contributions are recognized as employee benefit expense when they are due. The Company made matching contributions for the defined contribution plans of $474 and $1,583 for the three and nine months ended September 30, 2020, respectively, and $811 and $2,565 for the three and nine months ended September 30, 2021, respectively.
In addition, as a result of the acquisition of Voxbone S.A., the Company assumed sponsorship for Voxbone S.A.’s non-U.S. defined benefit pension plans. The liability recognized in the other liabilities line item of the balance sheet in respect to these plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of the plan assets. The defined benefit obligation is calculated annually by an independent actuary using the Projected Unit Credit Method.
The Company reports the service cost component of net periodic benefit cost in the same line item as other compensation costs arising from the services rendered by the employee and records the other components of net periodic benefit cost in other expense, net. Net periodic benefit costs for the non-U.S. defined benefit pension plan were $0 for the three and nine months ended September 30, 2020, and $105 and $323 for the three and nine months ended September 30, 2021, respectively.
Pretax amounts for net periodic benefit cost and other amounts for the defined benefit pension plans consisted of the following components:
Three months ended September 30,Nine months ended September 30,
20212021
Service cost$104 $318 
Interest cost5 16 
Return on plan assets(4)(11)
Net periodic pension cost105 323 
Total recognized in net periodic benefit cost$105 $323 
Defined benefit cost:
Expected long-term rate of return on plan assets0.50 %0.50 %