PENSION AND POSTRETIREMENT BENEFITS

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

PENSION AND POSTRETIREMENT BENEFITS

PENSION AND POSTRETIREMENT BENEFITS

Defined Contribution Pension Plans

The Company offers defined contribution plans for its employees in certain countries including a 401(k) retirement plan covering substantially all of the Company’s U.S. employees. Employer contributions charged to expense for defined contribution benefit plans for the years ended December 31, 2020, 2019 and 2018, were $16.0 million, $14.8 million, and $6.5 million, respectively.

Defined Benefit Pension Plans

The Company sponsors defined benefit pension plans for its employees in certain countries as governed by local regulatory requirements. During the years ended December 31, 2020, 2019 and 2018, the Company recorded expense of $4.3 million, $1.4 million and $2.6 million, respectively, related to these plans. During the year ended December 31, 2020, we recorded net actuarial loss as a component of net periodic benefit cost of $1.3 million as accumulated other comprehensive loss. The net unfunded balance of our defined benefit pension plans was $6.4 million as of December 31, 2020 of which $1.0 million is included in Accrued compensation and benefits expense and $5.4 million is classified in Other noncurrent liabilities in our consolidated balance sheet. The net unfunded balance of our defined benefit pension plans was $3.9 million as of December 31, 2019 of which $0.3 million is included in Accrued compensation and benefits expense and $3.6 million is classified in Other noncurrent liabilities in our consolidated balance sheet.