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International Retirement Plan | 12 Months Ended
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Dec. 31, 2019
Retirement Benefits [Abstract] |
International Retirement Plan | (16) International Retirement Plan We sponsor a non-contributory defined benefit pension plan for certain employees of a non-U.S. subsidiary initiated by a predecessor of the subsidiary. We maintain insurance contracts that provide an annuity that is used to fund the current obligations under this plan. The following table provides a reconciliation of the changes in the projected benefit obligation for the years ended December 31, 2019 and 2018:
(in thousands) |  | 2019 |  | 2018
Reconciliation of benefit obligations: |  |  |  |
Obligations as of January 1 |  | $ | 8,658 |  |  | $ | 8,434 |
Service cost |  | 166 |  |  | 155 |
Interest cost |  | 151 |  |  | 148 |
Actuarial loss (gain) |  | 1,815 |  |  | 453 |
Benefit payments |  | (139) |  |  | (145) |
Effect of foreign currency exchange rate changes |  | (154) |  |  | (387) |
Benefit obligations as of December 31 |  | 10,497 |  |  | 8,658 |
Fair value of assets as of December 31 a |  | 3,343 |  |  | 3,224 |
Funded status as of December 31, net of tax benefit |  | $ | (7,154) |  |  | $ | (5,434) |
a.No change in underlying asset value for the periods. We recognized the following amounts in the consolidated balance sheets at December 31, 2019 and 2018:
(in thousands) |  | 2019 |  | 2018
Other assets |  | $ | 3,343 |  |  | $ | 3,224 |
Accrued liabilities |  | (140) |  |  | (140) |
Other liabilities |  | (10,357) |  |  | (8,518) |
Net liability |  | $ | (7,154) |  |  | $ | (5,434) |
The following projected benefit obligation and accumulated benefit obligation were estimated as of December 31, 2019 and 2018:
(in thousands) |  | 2019 |  | 2018
Projected benefit obligation |  | $ | 10,497 |  |  | $ | 8,658 |
Accumulated benefit obligation |  | $ | 9,351 |  |  | $ | 7,587 |
The following table shows the components of net periodic benefit costs and the amounts recognized in “Accumulated other comprehensive income (loss)” as of December 31, 2019, 2018 and 2017: ໿
(in thousands) |  | 2019 |  | 2018 |  | 2017
Net periodic benefit cost: |  |  |  |  |  |
Service cost |  | $ | 166 |  |  | $ | 155 |  |  | $ | 184 |
Interest cost |  | 151 |  |  | 148 |  |  | 131 |
Amortization of actuarial loss |  | 200 |  |  | 177 |  |  | 244 |
Total net periodic pension cost |  | 517 |  |  | 480 |  |  | 559 |
Other changes in plan assets and benefit obligations recognized in other comprehensive income: |  |  |  |  |  |
Net loss (gain) |  | 1,815 |  |  | 453 |  |  | (558) |
Amortization of prior years' unrecognized loss |  | (200) |  |  | (177) |  |  | (244) |
Tax (benefit) provision |  | (555) |  |  | (88) |  |  | 247 |
Total recognized as accumulated other comprehensive income (loss) |  | 1,060 |  |  | 188 |  |  | (555) |
Total expense recognized in net periodic benefit cost and other comprehensive income |  | $ | 1,577 |  |  | $ | 668 |  |  | $ | 4 |
The following assumptions are used to determine benefit obligations as of as of December 31, 2019 and 2018:
|  | 2019 |  | 2018
Discount rate |  | 0.8% |  |  | 1.8% |
Rate of compensation |  | 3.0% |  |  | 3.5% |
The following benefit payments, including expected future service cost, are expected to be paid:
(in thousands) |
Estimated future benefit payments: |
2020 | $ | 168 |
2021 | 175 |
2022 | 181 |
2023 | 185 |
2024 | 187 |
2025-2029 | 1,277 |

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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