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Pensions and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Reconciliation of the Benefit Obligation, Plan Assets, and Funded Status to Benefit Plans

The following table sets forth a reconciliation of the benefit obligation, plan assets, and funded status related to pension plans (in thousands):

			December 31, 2023												December 31, 2022
			U.S. Plans						Non-U.S. Plans						U.S. Plans						Non-U.S. Plans
Change in benefit obligation:
Benefit obligation at beginning of year			$	2,050					$	15,853					$	2,626					$	26,157
Service cost (adjusted for actual employee contributions)			—						265						—						308
Interest cost			97						675						65						395
Actuarial loss/(gains)			59						6						(533)						(7,125)
Benefits paid			(108)						(573)						(108)						(652)
Curtailments and settlements			—						(310)						—						(567)
Currency translation			—						551						—						(2,663)
Benefit obligation at end of year			$	2,098					$	16,467					$	2,050					$	15,853
Change in plan assets:
Fair value of plan assets at beginning of year			$	—					$	16,248					$	—					$	19,717
Actual return on plan assets			—						855						—						(1,773)
Company contributions			—						875						108						1,064
Benefits paid			—						(573)						(108)						(652)
Currency translation			—						914						—						(2,047)
Fair value of plan assets at end of year			$	—					$	18,319					$	—					$	16,248
Funded status at end of year			$	(2,098)					$	1,852					$	(2,050)					$	395

The following table sets forth a reconciliation of the benefit obligation, plan assets, and funded status related to other postretirement benefit plans (in thousands):

			OPEB Plans
			December 31,
			2023						2022
Change in benefit obligation:
Benefit obligation at beginning of year			$	2,386					$	2,885
Service cost (adjusted for actual employee contributions)			17						29
Interest cost			111						67
Contributions by participants			—						—
Actuarial losses/(gains)			95						(453)
Benefits paid			(119)						(142)
Plan amendments and other			—						—
Benefit obligation at end of year			$	2,490					$	2,386
Change in plan assets:
Fair value of plan assets at beginning of year			$	—					$	—
Company contributions			119						142
Contributions by participants			—						—
Benefits paid			(119)						(142)
Fair value of plan assets at end of year			$	—					$	—
Funded status at end of year			$	(2,490)					$	(2,386)

Amounts Recognized in the Consolidated Balance Sheet Pretax Amounts

Amounts recognized in the consolidated balance sheets consist of the following pre-tax amounts (in thousands):

			December 31, 2023												December 31, 2022
			U.S. Plans						Non-U.S. Plans						U.S. Plans						Non-U.S. Plans
Other assets			$	—					$	4,573					$	—					$	3,301
Other accrued expenses			$	(140)					$	(85)					$	(137)					$	(179)
Accrued pension and other postretirement costs			$	(1,958)					$	(2,636)					$	(1,913)					$	(2,727)
Accumulated other comprehensive loss			$	196					$	492					$	137					$	577
			$	(1,902)					$	2,344					$	(1,913)					$	972

Amounts recognized in the consolidated balance sheets consist of the following pre-tax amounts (in thousands):

			OPEB Plans
			December 31,
			2023						2022
Other accrued expenses			$	(286)					$	(189)
Accrued pension and other postretirement costs			$	(2,204)					$	(2,197)
Accumulated other comprehensive gain			$	(367)					$	(484)
			$	(2,857)					$	(2,870)

Actuarial Items

Actuarial items consist of the following (in thousands):

			December 31, 2023												December 31, 2022
			U.S. Plans						Non-U.S. Plans						U.S. Plans						Non-U.S. Plans
Unrecognized net actuarial loss			$	196					$	448					$	137					$	532
Unrecognized prior service cost			—						44						—						45
			$	196					$	492					$	137					$	577

Actuarial items consist of the following (in thousands):

			OPEB Plans
			December 31,
			2023						2022
Unrecognized net actuarial gain			$	(367)					$	(484)
			$	(367)					$	(484)

Additional Information Regarding Projected and Accumulated Benefit Obligations for the Pension Plans

The following table sets forth additional information regarding the projected and accumulated benefit obligations for the pension plans (in thousands):

			December 31, 2023
			U.S. Plans						Non-U.S. Plans
Accumulated benefit obligation, all plans			$	2,098					$	14,992
Plans for which the accumulated benefit obligation exceeds plan assets:
Projected benefit obligation			$	2,098					$	2,842
Accumulated benefit obligation			$	2,098					$	2,203

			December 31, 2022
			U.S. Plans						Non-U.S. Plans
Accumulated benefit obligation, all plans			$	2,050					$	14,489
Plans for which the accumulated benefit obligation exceeds plan assets:
Projected benefit obligation			$	2,050					$	3,008
Accumulated benefit obligation			$	2,050					$	2,448

Components of Net Periodic Costs of Benefit Plans

The following table sets forth the components of net periodic cost of pension (in thousands):

			Years ended December 31,
			2023												2022												2021
			U.S. Plans						Non-U.S. Plans						U.S. Plans						Non-U.S. Plans						U.S. Plans						Non-U.S. Plans
Annual service cost			$	—					$	265					$	—					$	308					$	—					$	379
Interest cost			97						675						65						395						57						353
Expected return on plan assets			—						(879)						—						(454)						—						(393)
Amortization of actuarial losses			—						39						22						736						27						459
Amortization of prior service cost			—						(10)						—						—						—						—
Amortization of transition obligation			—						—						—						(40)						—						(8)
Curtailment and settlement losses			—						50						—						(512)						—						(108)
Net periodic benefit cost			$	97					$	140					$	87					$	433					$	84					$	682

The following table sets forth the components of net periodic benefit costs (in thousands):

			OPEB Plans
			Years ended December 31,
			2023						2022						2021
			OPEB Plans						OPEB Plans						OPEB Plans
Net service cost			17						29						36
Interest cost			111						67						68
Amortization of actuarial (gains)/ losses			(22)						3						20
Net periodic benefit cost			$	106					$	99					$	124

Weighted-average Assumptions Used for Benefit Obligations and Net Periodic Pension Costs

The following weighted-average assumptions were used to determine benefit obligations at December 31 of the respective years:

			2023												2022
			U.S. Plans						Non-U.S. Plans						U.S. Plans						Non-U.S. Plans
Discount rate			4.71		%				4.19		%				4.91		%				4.23		%
Rate of compensation increase			N/A						4.00		%				N/A						2.49		%
Expected return on plan assets			N/A						5.13		%				N/A						3.96		%

The following weighted-average assumptions were used to determine the net periodic pension costs for the years ended December 31, 2023 and 2022:

			2023												2022
			U.S. Plans						Non-U.S. Plans						U.S. Plans						Non-U.S. Plans
Discount rate			4.91		%				4.23		%				2.53		%				1.66		%
Rate of compensation increase			N/A						2.49		%				N/A						2.97		%
Expected return on plan assets			N/A						3.96		%				N/A						2.10		%

The following weighted-average assumptions were used to determine benefit obligations at December 31 of the respective years:

			OPEB Plans
			December 31,
			2023						2022
Discount rate			4.69		%				4.88		%

The following weighted-average assumptions were used to determine the net periodic benefit costs for the years ended December 31, 2023 and 2022:

			OPEB Plans
			December 31,
			2023						2022
Discount rate			4.88		%				2.46		%
Health care trend rate			6.50		%				6.50		%

Composition of Plan Assets

Plan assets are comprised of:

			December 31, 2023												December 31, 2022
			U.S. Plans						Non-U.S. Plans						U.S. Plans						Non-U.S. Plans
Equity securities			—						—		%				—						48		%
Fixed income securities			—						84		%				—						42		%
Cash and cash equivalents			—						16		%				—						10		%
Total			—						100		%				—						100		%

Changes in Fair Value of Plan Assets for Each Hierarchy Level

A summary of the Company’s pension plan assets for each fair value hierarchy level are as follows for the periods presented (see Note 16 for further description of the levels within the fair value hierarchy (in thousands)):

As of December 31, 2023									Fair value measurements at reporting date using:
			Total Fair Value						Level 1 Inputs						Level 2 Inputs						Level 3 Inputs
Defined benefit pension plan assets
Equity securities			$	—					$	—					$	—					$	—
Fixed income securities			15,417						—						15,417						—
Cash and cash equivalents			2,902						1,637						1,265						—
			$	18,319					$	1,637					$	16,682					$	—

As of December 31, 2022									Fair value measurements at reporting date using:
			Total Fair Value						Level 1 Inputs						Level 2 Inputs						Level 3 Inputs
Defined benefit pension plan assets
Equity securities			$	7,736					$	—					$	7,736					$	—
Fixed income securities			6,813						—						6,813						—
Cash and cash equivalents			1,699						1,511						188						—
			$	16,248					$	1,511					$	14,737					$	—

Estimated future Benefit Payments

Estimated future benefit payments are as follows (in thousands):

			US Pension Plans						Non-US Plans
2024			$	140					$	747
2025			142						832
2026			142						703
2027			142						885
2028			172						758
2029-2033			812						6,342

Estimated future benefit payments are as follows (in thousands):

			OPEB Plans
2024			$	286
2025			220
2026			236
2027			245
2028			234
2029-2033			773

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