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Defined Contribution Plan, Pension and Other Post-Retirement Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Summary of 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:
 Non-U.S. Pension Plan
 20242023
Change in benefit obligation:
Benefit obligation — Beginning of the year$32,172 $29,885 
Interest cost1,399 1,418 
Benefits paid(1,736)(1,801)
Actuarial (gain) loss(2,734)1,087 
Exchange rate changes(435)1,583 
Benefit obligation at end of the year$28,666 $32,172 
Change in plan assets:
Fair value of plan assets — Beginning of the year$23,052 $21,537 
Actual return on plan assets(1,652)1,053 
Employer contributions1,240 1,125 
Benefits paid(1,736)(1,801)
Exchange rate changes(313)1,138 
Fair value of plan assets at end of the year20,591 23,052 
Funded status 1
$(8,075)$(9,120)
1 Amounts are included in Pension and other post-retirement liabilities in the Consolidated Balance Sheets at December 31, 2024 and 2023.
Summary of Components of Net Periodic Cost (Benefit)
The components of net periodic cost (benefit) for the years ended December 31 were as follows:
 Non-U.S. Pension Plan
 202420232022
Interest cost$1,399 $1,418 $785 
Expected return on plan assets(1,293)(1,221)(1,016)
Amortization of prior service cost50 48 48 
Recognized actuarial loss872 757 603 
Net periodic cost (benefit)$1,028 $1,002 $420 
Summary of Amounts Recognized in Other Comprehensive Income (Loss) Amounts recognized in Other comprehensive income (loss), before taking into account income tax effects, at December 31 are as follows:
 Non-U.S. Pension Plan
 202420232022
Net actuarial loss$13,899 $14,165 $13,603 
Prior service cost538 572 618 
$14,437 $14,737 $14,221 
Summary of Amounts Recognized as Other Changes in Plan Assets and Benefit Obligations in Other Comprehensive Income (Loss) Amounts recognized as other changes in plan assets and benefit obligations in comprehensive income (loss), before taking into account income tax effects, for the year ended December 31 are as follows:
 Non-U.S. Pension Plan
 20242023
Actuarial (gain) loss$205 $1,186 
Amortization of actuarial (loss) gain(844)(716)
Prior service credit(48)(46)
Total recognized in other comprehensive income (loss)$(687)$424 
Summary of 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:
 Non-U.S. Pension Plan
 20242023
Discount rate5.40 %4.45 %
Weighted-average assumptions used to determine net periodic benefit cost at December 31 were as follows:
 Non-U.S. Pension Plan
 202420232022
Discount rate4.45 %4.45 %1.80 %
Expected return on plan assets5.65 %5.65 %2.90 %
Summary of Fair Values of Pension Plan Assets by Asset Category and by Level
Our investment allocation target for our non-U.S. pension plan for 2024 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 %
 2024202320242023
Cash and cash equivalents11
Equity/Balanced securities27232623
Fixed income securities73777376
100%100%100%100%
The fair values of our pension plan assets by asset category and by level as described in Note 1, Significant Accounting Policies, for the years ended December 31, 2024 and 2023 are as follows:
 December 31, 2024
  Quoted Prices in
Active Markets for
Identical Assets
Significant
Observable Inputs
Significant
Unobservable Inputs
 TotalLevel 1Level 2Level 3
Insurance contracts and other$20,591 $— $20,591 $— 
Total pension fund assets$20,591 $— $20,591 $— 

December 31, 2023
Quoted Prices in
Active Markets for
Identical Assets
Significant
Observable Inputs
Significant
Unobservable Inputs
TotalLevel 1Level 2Level 3
Insurance contract and other$23,052 $— $23,052 $— 
Total pension fund assets$23,052 $— $23,052 $— 
Summary of Expected Future Benefit Payments of Pension and Other Post-Retirement Benefit Plans
The following table summarizes expected future benefit payments out of our pension and other post-retirement benefit plans:
Year Ending December 31,Pension Plans
2025$1,995 
2026$1,918 
2027$1,937 
2028$1,997 
2029$2,088 
2030 to 2034$9,915