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Defined benefit and 401(k) savings plan (Tables) | 12 Months Ended
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Dec. 31, 2022
Retirement Benefits [Abstract] |
Summary of Funded Status of the Swiss Plan | The funded status of the Swiss Plan is as follows:
| Year Ended December 31,
| 2022 |  | 2021
Change in Plan Assets: |  |  |
Fair value of plan assets, beginning of period | $ | 29.3 |  |  | $ | 27.6 |
Employer contributions | 1.5 |  |  | 1.4 |
Employee contributions | 0.9 |  |  | 0.9 |
Net benefits received | 3.4 |  |  | 0.5 |
Actual return on plan assets | (0.4) |  |  | (0.1) |
Settlements | (5.0) |  |  | — |
Currency impact | (0.4) |  |  | (1.0) |
Fair value of plan assets, end of period | $ | 29.3 |  |  | $ | 29.3 |
Change in Benefit Obligation: |  |  |
Projected benefit obligation, beginning of period | $ | 46.8 |  |  | $ | 49.2 |
Service cost | 1.9 |  |  | 2.4 |
Interest Cost | 0.1 |  |  | — |
Employee contributions | 0.9 |  |  | 0.9 |
Actuarial gain | (10.0) |  |  | (4.6) |
Net benefits received | 3.4 |  |  | 0.5 |
Settlements | (5.0) |  |  | — |
Currency impact | (0.9) |  |  | (1.6) |
Projected benefit obligation, end of period | $ | 37.2 |  |  | $ | 46.8 |
Funded status, end of period | $ | (7.9) |  |  | $ | (17.5) |
Accumulated benefit obligation, end of period | $ | 34.0 |  |  | $ | 41.8 |
Components of Net Periodic Pension Cost | Components of net periodic pension cost incurred during the years ended December 31, 2022, 2021 and 2020 are as follows:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Service cost | $ | 1.9 |  |  | $ | 2.4 |  |  | $ | 1.9 |
Interest cost | 0.1 |  |  | — |  |  | 0.1 |
Expected return on plan assets | (0.8) |  |  | (0.8) |  |  | (0.6) |
Amortization of loss | 0.1 |  |  | 0.6 |  |  | 0.2 |
Amortization of prior service credit | (0.1) |  |  | (0.2) |  |  | (0.2) |
Settlements | (0.4) |  |  | — |  |  | 1.0 |
Net periodic benefit cost | $ | 0.8 |  |  | $ | 2.0 |  |  | $ | 2.4 |
Schedule of Weighted Average Assumptions | The weighted average assumptions used to calculate the projected benefit obligations are as follows:
| December 31, 2022 |  | December 31, 2021
Discount rate | 2.1 | % |  | 0.3 | %
Expected rate of return | 3.5 | % |  | 3.0 | %
Rate of future compensation increases | 1.8 | % |  | 1.4 | %
Schedule of Accumulated Other Comprehensive Loss Before Income Tax | The following table presents gains (losses) recognized in accumulated other comprehensive income (loss) before income tax related to the Company’s defined benefit pension plans:
| Year Ended December 31,
| 2022 |  | 2021
Net actuarial gain | $ | 9.0 |  |  | $ | 5.9 |
Prior service cost | (0.3) |  |  | (1.3) |
Total recognized in other comprehensive income (loss) | $ | 8.7 |  |  | $ | 4.6 |
Schedule of Expected Future Benefits Payments | Future benefits expected to be paid as of December 31, 2022 are as follows:
Year | As of December 31, 2022
2023 | $ | 1.8 |
2024 | 1.8 |
2025 | 2.0 |
2026 | 1.9 |
2027 | 2.1 |
Thereafter | 27.6 |
Total | $ | 37.2 |

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