XML 40 R23.htm IDEA: XBRL DOCUMENT
v3.25.4

EMPLOYEEE BENEFITS | 12 Months Ended
--- | ---
Dec. 31, 2025
Retirement Benefits [Abstract] |
EMPLOYEEE BENEFITS | NOTE 13 - EMPLOYEEE BENEFITS We sponsor a Section 401(k) plan (the "Plan") covering substantially all of 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% of contributions on the first 6% of the participant’s eligible compensation. For the years ended December 31, 2025, 2024 and 2023, we expensed $2.3 million, $2.5 million and $2.6 million, respectively, for matching contributions related to the Plan. International Retirement Plan We sponsor a non-contributory defined benefit pension plan for certain employees of a non-U.S. subsidiary. We maintain insurance contracts outside of the plan that provide an annuity that is used to fund the current obligations under this plan. The fair value of the insurance contract assets under the plan are $2.2 million as of December 31, 2025 and 2024 and are recorded in other assets on the Company’s consolidated balance sheets. The following table provides a reconciliation of the changes in the projected benefit obligation for the years ended December 31, 2025 and 2024:
(in thousands) |  | 2025 |  | 2024
Reconciliation of benefit obligation: |  |  |  |
Obligation as of January 1 |  | $ | 5,896 |  |  | $ | 6,027 |
Service cost |  | 63 |  |  | 59 |
Interest cost |  | 227 |  |  | 210 |
Actuarial (gain) loss |  | (934) |  |  | 145 |
Benefit payments |  | (199) |  |  | (187) |
Effect of foreign currency exchange rate changes |  | 1,508 |  |  | (358) |
Benefit obligation as of December 31 |  | $ | 6,561 |  |  | $ | 5,896 |
We recognized the following amounts in the consolidated balance sheets at December 31, 2025 and 2024:
(in thousands) |  | 2025 |  | 2024
Accrued and other liabilities |  | 203 |  |  | 180 |
Other liabilities |  | 6,358 |  |  | 5,716 |
Total liability |  | $ | 6,561 |  |  | $ | 5,896 |
Following are the projected benefit obligation and accumulated benefit obligation at December 31, 2025 and 2024:
(in thousands) |  | 2025 |  | 2024
Projected benefit obligation |  | $ | 6,561 |  |  | $ | 5,896 |
Accumulated benefit obligation |  | $ | 5,678 |  |  | $ | 5,672 |
The following table shows the components of net periodic benefit costs and the amounts recognized in accumulated other comprehensive income (loss) for the years ended December 31, 2025, 2024 and 2023:
(in thousands) |  | 2025 |  | 2024 |  | 2023
Net periodic benefit cost: |  |  |  |  |  |
Service cost |  | $ | 63 |  |  | $ | 59 |  |  | $ | 59 |
Interest cost |  | 227 |  |  | 210 |  |  | 220 |
Amortization of actuarial gain |  | (93) |  |  | — |  |  | (46) |
Total net periodic pension cost |  | 197 |  |  | 269 |  |  | 233 |
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss): |  |  |  |  |  |
Net loss (gain) |  | (841) |  |  | 145 |  |  | 541 |
Amortization of prior years' unrecognized gain (loss) |  | — |  |  | — |  |  | 46 |
Total recognized as other comprehensive income (loss), excluding tax |  | (841) |  |  | 145 |  |  | 587 |
Total (gain) expenses recognized in net periodic benefit cost and other comprehensive (loss) income |  | $ | (644) |  |  | $ | 414 |  |  | $ | 820 |
The following assumptions are used to determine the benefit obligations as of December 31, 2025 and 2024:
|  | 2025 |  | 2024
Discount rate |  | 4.4% |  | 3.6%
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 for the years ending December 31: |
2026 | $ | 232 |
2027 | 258 |
2028 | 287 |
2029 | 321 |
2030 | 353 |
2031 through 2035 | 1,885 |

X
- 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/715/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 712 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/712/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 710 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/710/tableOfContent Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent + Details
Name: | us-gaap_CompensationAndEmployeeBenefitPlansTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration