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Employee Benefits | 12 Months Ended
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Dec. 31, 2021
Retirement Benefits [Abstract] |
Employee Benefits | (12) Employee Benefits We sponsor a Section 401(k) plan (the “Plan”) covering substantially all our eligible U.S. employees. The Plan entitles eligible employees to make contributions to the Plan after meeting certain eligibility requirements. Contributions are limited to the maximum contribution allowances permitted under the Internal Revenue Code. We match 50.0% of contributions on the first 6.0% of the participant’s eligible compensation. For the years ended December 31, 2021, 2020 and 2019, we expensed $2,039, $2,456 and $2,688, respectively, for matching contributions to the defined contribution plan. 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, 2021 and 2020:
(in thousands) |  | 2021 |  | 2020
Reconciliation of benefit obligations: |  |  |  |
Obligations as of January 1 |  | $ | 10,391 |  |  | $ | 10,497 |
Service cost |  | 187 |  |  | 204 |
Interest cost |  | 130 |  |  | 84 |
Actuarial loss (gain) |  | (234) |  |  | (1,222) |
Benefit payments |  | (627) |  |  | (151) |
Effect of foreign currency exchange rate changes |  | (773) |  |  | 979 |
Benefit obligations as of December 31 |  | 9,074 |  |  | 10,391 |
Fair value of assets as of December 31 a |  | 3,577 |  |  | 3,844 |
Funded status as of December 31, net of tax benefit |  | $ | (5,497) |  |  | $ | (6,547) |
a.No change in underlying asset value for the periods. We recognized the following amounts in the consolidated balance sheets at December 31, 2021 and 2020:
(in thousands) |  | 2021 |  | 2020
Other assets |  | $ | 3,577 |  |  | $ | 3,844 |
Accrued liabilities |  | (163) |  |  | (163) |
Other liabilities |  | (8,911) |  |  | (10,228) |
Net liability |  | $ | (5,497) |  |  | $ | (6,547) |
The following projected benefit obligation and accumulated benefit obligation were estimated as of December 31, 2021 and 2020:
(in thousands) |  | 2021 |  | 2020
Projected benefit obligation |  | $ | 9,074 |  |  | $ | 10,391 |
Accumulated benefit obligation |  | $ | 8,635 |  |  | $ | 9,343 |
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, 2021, 2020 and 2019:
(in thousands) |  | 2021 |  | 2020 |  | 2019
Net periodic benefit cost: |  |  |  |  |  |
Service cost |  | $ | 187 |  |  | $ | 204 |  |  | $ | 166 |
Interest cost |  | 130 |  |  | 84 |  |  | 151 |
Amortization of actuarial loss |  | 259 |  |  | 351 |  |  | 200 |
Total net periodic pension cost |  | 576 |  |  | 639 |  |  | 517 |
Other changes in plan assets and benefit obligations recognized in other comprehensive income: |  |  |  |  |  |
Net (gain) loss |  | (234) |  |  | (1,223) |  |  | 1,815 |
Amortization of prior years' unrecognized loss |  | (259) |  |  | (351) |  |  | (200) |
Total recognized as accumulated other comprehensive income (loss), excluding tax |  | (493) |  |  | (1,574) |  |  | 1,615 |
Total expense recognized in net periodic benefit cost and other comprehensive income |  | $ | 83 |  |  | $ | (935) |  |  | $ | 2,132 |
The following assumptions are used to determine benefit obligations as of December 31, 2021 and 2020:
|  | 2021 |  | 2020
Discount rate |  | 1.2% |  | 1.3%
Rate of compensation |  | 3.0% |  | 3.0%
The following benefit payments, including expected future service cost, are expected to be paid:
(in thousands) |
Estimated future benefit payments: |
2022 | $ | 175 |
2023 | 181 |
2024 | 185 |
2025 | 187 |
2026 | 189 |
2027 through 2031 | $ | 1,439 |

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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 712 -URI http://asc.fasb.org/topic&trid=2197446 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -URI http://asc.fasb.org/topic&trid=2127225 Reference 4: 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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