Defined Contribution Plan, Pension and Other Post-Retirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2019

Change in Benefit Obligation, Plan Assets and Funded Status

The change in benefit obligation, plan assets and funded status as of December 31 is as follows:



	U.S. Pension and Other Post-Retirement Benefit Plans						Non-U.S. Pension Plan
	2019			2018			2019			2018
Change in benefit obligation:
Benefit obligation — Beginning of the year	$	45,238		$	50,072		$	40,265		$	45,737
Service cost	—			—			—			788
Interest cost	1,483			1,664			1,112			1,030
Participant contributions	6			9			—			—
Benefits paid	(10,346		)	(2,360		)	(1,681		)	(1,816		)
Actuarial (gain) loss	3,196			(4,147		)	3,730			(2,772		)
Exchange rate changes	—			—			1,415			(2,702		)
Benefit obligation at end of the year	39,577			45,238			44,841			40,265
Change in plan assets:
Fair value of plan assets — Beginning of the year	42,962			45,046			30,424			35,377
Actual return on plan assets	6,588			(2,259		)	3,610			(1,808		)
Employer contributions	835			2,526			887			763
Participant contributions	6			9			—			—
Benefits paid	(10,346		)	(2,360		)	(1,681		)	(1,816		)
Exchange rate changes	—			—			1,081			(2,092		)
Fair value of plan assets at end of the year	40,045			42,962			34,321			30,424
Funded status	$	468		$	(2,276	)	$	(10,520	)	$	(9,841	)

Amounts Recognized in Consolidated Balance Sheets

Amounts recognized in the Consolidated Balance Sheets at December 31 consisted of:



	U.S. Pension and Other Post-Retirement Benefit Plans						Non-U.S. Pension Plan
	2019			2018			2019			2018
Noncurrent assets	$	633		$	—		$	—		$	—
Current liabilities	(19		)	(28		)	—			—
Noncurrent liabilities	(146		)	(2,248		)	(10,520		)	(9,841		)
Amount recognized	$	468		$	(2,276	)	$	(10,520	)	$	(9,841	)

Components of Net Periodic Benefit Cost

The components of net periodic (benefit) cost for the years ended December 31 were as follows:



	U.S. Pension and Other Post-Retirement Benefit Plans									Non-U.S. Pension Plan
	2019			2018			2017			2019			2018			2017
Service cost	$	—		$	—		$	116		$	—		$	—		$	—
Interest cost	1,483			1,664			1,810			1,112			1,030			1,138
Expected return on plan assets	(2,393		)	(3,151		)	(2,684		)	(1,117		)	(1,210		)	(1,196		)
Amortization of prior service cost ¹	2,528			6			6			47			—			—
Recognized actuarial loss	308			263			21			531			496			312
Net periodic cost (benefit)	$	1,926		$	(1,218	)	$	(731	)	$	573		$	316		$	254

¹Includes $2.5 million non-cash settlement charge arising from the early payout of the U.S. defined benefit plan benefits.

Amounts Recognized in Accumulated Other Comprehensive Income (Loss)

Amounts recognized in accumulated other comprehensive income (loss), before taking into account income tax effects, at December 31 are as follows:



	U.S. Pension and Other Post-Retirement Benefit Plans						Non-U.S. Pension Plan
	2019		2018		2017		2019		2018		2017
Net actuarial loss	$	10,937	$	14,767	$	13,765	$	13,783	$	12,972	$	13,454
Prior service cost	45		51		57		747		788		—
	$	10,982	$	14,818	$	13,822	$	14,530	$	13,760	$	13,454

Amounts Recognized as Other Changes in Plan Assets and Benefit Obligations in Other Comprehensive Income

Amounts recognized as other changes in plan assets and benefit obligations in other comprehensive income (loss), before taking into account income tax effects, for the year ended December 31 are as follows:



	U.S. Pension and Other Post-Retirement Plans						Non-U.S. Pension Plan
	2019			2018			2019			2018
Actuarial (gain) loss	$	(1,001	)	$	1,266		$	968		$	245
Amortization of actuarial (loss) gain	(2,829		)	(263		)	(37		)	781
Prior service credit	(6		)	(6		)	(416		)	(491		)
Total recognized in other comprehensive income (loss)	$	(3,836	)	$	997		$	515		$	535

Weighted-Average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Cost

Weighted-average assumptions used to determine benefit obligations at December 31 were as follows:



	U.S. Pension and Other Post-Retirement Benefit Plans				Non-U.S. Pension Plan
	2019		2018		2019		2018
Discount rate	2.93	%	4.06	%	1.95	%	2.80	%

Weighted-average assumptions used to determine net periodic benefit cost at December 31 were as follows:



	U.S. Pension and Other Post-Retirement Plans						Non-U.S. Pension Plan
	2019		2018		2017		2019		2018		2017
Discount rate	3.40	%	3.42	%	3.87	%	2.80	%	2.45	%	2.70	%
Expected return on plan assets	5.34	%	7.00	%	7.00	%	3.70	%	3.70	%	3.70	%

Fair Values of Pension Plan Assets by Asset Category and by Level

The fair values of our pension plan assets by asset category and by level as described in Note 4 for the years ended December 31, 2019 and 2018 are as follows:



	December 31, 2019
			Quoted Prices in Active Markets for Identical Assets		Significant Observable Inputs		Significant Unobservable Inputs
	Total		Level 1		Level 2		Level 3
Cash and cash equivalents	$	332	$	332	$	—	$	—
Equities:
U.S. large value	2,434		2,434		—		—
U.S. large growth	2,059		2,059		—		—
International blend	4,854		—		4,854		—
Emerging markets	1,603		1,603		—		—
Balanced	18,246		—		18,246		—
Fixed income securities:
Government bonds	24,917		—		24,917		—
Corporate bonds	12,634		—		12,634		—
Other	3,217		—		3,217		—
Real Estate:
U.S. property	4,070		—		—		4,070
Total pension fund assets	$	74,366	$	6,428	$	63,868	$	4,070

	December 31, 2018
			Quoted Prices in Active Markets for Identical Assets		Significant Observable Inputs		Significant Unobservable Inputs
	Total		Level 1		Level 2		Level 3
Cash and cash equivalents	$	623	$	623	$	—	$	—
Equities:
U.S. large value	4,815		4,815		—		—
U.S. large growth	5,270		5,270		—		—
International blend	9,134		—		9,134		—
Emerging markets	3,093		3,093		—		—
Balanced	17,952		—		17,952		—
Fixed income securities:
Government bonds	10,240		—		10,240		—
Corporate bonds	11,297		—		11,297		—
Real Estate:
U.S. property	10,962		—		—		10,962
Total pension fund assets	$	73,386	$	13,801	$	48,623	$	10,962

Our current investment allocation target for our pension plans for 2019 and our weighted-average asset allocations of our pension assets for the years ended December 31, by asset category, are as follows:



	Target Allocation				Actual Allocations as of December 31,
	2019		2018		U.S. Pension Plan		Non-U.S. Pension Plan
	U.S.	Non-U.S.	U.S.	Non-U.S.	2019	2018	2019	2018
Cash and cash equivalents	—	—	—	—	—	1	1	1
Equity/Balanced securities	27	55	55	55	28	52	53	59
Fixed income securities	63	45	25	45	62	22	46	40
Real estate	10	—	20	—	10	25	—	—
	100%	100%	100%	100%	100%	100%	100%	100%

Fair Value of Pension Plan Assets Measured Using Significant Unobservable Inputs

The fair value of our pension plan assets measured using significant unobservable inputs (Level 3) at December 31 are as follows:



	2019			2018
Beginning balance	$	10,962		$	10,153
Actual return on assets held at reporting date	430			809
Purchases, sales and settlements, net	(7,322		)	—
Ending balance	$	4,070		$	10,962

Expected Future Benefit Payments of Pension and Other Post-Retirement Benefit Plans

The following table summarizes our expected future benefit payments of our pension and other post-retirement benefit plans:



Year Ending December 31,	Pension Plans
2020	$	4,390
2021	$	4,396
2022	$	4,360
2023	$	4,453
2024	$	4,493
2025 to 2029	$	22,209