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Defined Benefit Plan (Tables)

12 Months Ended

Dec. 31, 2023

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)			2023						2022						2021
Service cost			$	369					$	432					$	422
Interest cost			257						42						38
Expected return on plan assets			(184)						(73)						(73)
Amortization of unrecognized gain (loss)			(37)						(27)						(12)
Effect of settlement			(1)						(40)						—
Effect of curtailment			—						—						111
Net periodic benefit cost			$	404					$	334					$	486

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, 2023 and 2022:

			December 31,
			2023						2022
Discount rate			1.85		%				2.25		%
Expected return on plan assets			1.85		%				2.25		%
Rate of compensation increase			4.00		%				4.00		%

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):

2024			$	595
2025			624
2026			782
2027			1,088
2028			812
Thereafter			4,262
			$	8,163

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, 2023:

Fixed income bonds and securities			60		%
Real estate			24		%
Equities and investment funds			14		%
Certificates of deposit and cash and cash equivalents			1		%
Other investments			1		%
			100		%

X

- 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.

+ References

No definition available.

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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
-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

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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
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (k)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

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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

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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
-Topic 715
-SubTopic 20
-Subparagraph (h)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

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