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Defined Benefit Plan (Tables)

12 Months Ended

Dec. 31, 2021

Defined Benefit Plan Disclosure [Line Items]

Summary of Net Periodic Benefit Cost

Net periodic benefit cost consists of the following:

			Year ended December 31,
(in thousands)			2021						2020						2019
Service cost			$	422					$	571					$	512
Interest cost			38						31						132
Expected return on plan assets			(73)						(84)						(135)
Amortization of unrecognized loss			(12)						232						140
Effect of curtailment			111						381						—
Net periodic benefit cost			$	486					$	1,131					$	649

Summary of Assumptions Used to Determine the Benefit Obligations and Components of the Net Periodic Benefit Cost

Assumptions used to determine the benefit obligations and components of the net periodic benefit cost at December 31, 2021 and 2020:

			December 31,
			2021						2020
Discount rate			0.35		%				0.20		%
Expected return on plan assets			0.80		%				0.80		%
Rate of compensation increase			2.00		%				2.00		%

Summary of Expected Foreign Plan Benefit Payments

The following presents the benefit payments which are expected to be paid for the plan in each year indicated (in thousands):

2022			$	451
2023			460
2024			682
2025			597
2026			653
Thereafter			2,744
			$	5,587

Summary of Allocation of Assets in Swiss Life's Group Life Portfolio

The allocation of pension plan assets by category in Swiss Life’s group life portfolio is as follows at December 31, 2021:

Fixed income bonds and securities			63		%
Real estate			20		%
Equities and investment funds			13		%
Certificates of deposit and cash and cash equivalents			2		%
Other investments			2		%
			100		%

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- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(5)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

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- Definition

Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (k)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

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Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

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