PENSION AND POSTRETIREMENT BENEFITS

12 Months Ended

Dec. 31, 2021

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, 2021, 2020 and 2019, were $21.3 million, $16.0 million, and $14.8 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, 2021, 2020 and 2019, the Company recorded expense of $5.5 million, $4.3 million and $1.4 million, respectively, related to these plans. In accumulated other comprehensive loss, the Company recorded a net actuarial gain as a component of net periodic benefit cost of $3.8 million during the year ended December 31, 2021 and a net actuarial loss as a component of net periodic benefit cost of $1.3 million during the year ended December 31, 2020. The overfunded balance of our defined benefit pension plans was $1.2 million and $0 as of December 31, 2021 and 2020, respectively, which is included Other noncurrent assets in our consolidated balance sheets. The unfunded balance of our defined benefit pension plans was $4.1 million as of December 31, 2021 of which $0.6 million is included in Accrued compensation and benefits expense and $3.5 million is classified in Other noncurrent liabilities in our consolidated balance sheets. The 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 sheets.