Pension and Other Post-Retirement Benefit Plans

6 Months Ended

Jun. 30, 2022

Retirement Benefits [Abstract]

Pension and Other Post-Retirement Benefit Plans

Pension and Other Post-Retirement Benefit Plans

The components of net periodic (benefit) cost related to pension and other post-retirement benefit plans is as follows:

	U.S. Pension and Other Post-Retirement Benefit Plans				Non-U.S. Pension Plan
	Three Months Ended June 30,				Three Months Ended June 30,
	2022		2021		2022		2021
Interest cost	$	193	$	206	$	200	$	162
Expected return on plan assets	(208)		(553)		(258)		(254)
Amortization of prior service cost	2		2		13		14
Recognized actuarial loss	81		66		153		243
Net (benefit) cost	$	68	$	(279)	$	108	$	165

	U.S. Pension and Other Post-Retirement Benefit Plans				Non-U.S. Pension Plan
	Six months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Interest cost	$	388	$	414	$	415	$	323
Expected return on plan assets	(415)		(1,106)		(533)		(504)
Amortization of prior service cost	4		4		26		28
Recognized actuarial loss	165		140		317		482
Net (benefit) cost	$	142	$	(548)	$	225	$	329

Net periodic (benefit) cost components, not inclusive of service costs, are recognized in other expense (income) within the Condensed Consolidated Statements of Operations.

During the year ended December 31, 2021, the Audit Committee of the Board of Directors approved amendments to the U.S. Pension Plan to terminate the plan. The plan participants were notified of the Company's intention to terminate the plan effective December 31, 2021 and settle plan liabilities through either lump sum distributions to plan participants or annuity contracts that cover vested benefits. The Company currently expects to complete the settlement of plan liabilities between the fourth quarter of 2022 and the first quarter of 2023.