Defined benefit plan

9 Months Ended

Sep. 30, 2019

Retirement Benefits [Abstract]

Defined benefit plan

Defined benefit plan

The Company sponsors a defined benefit pension plan covering eligible employees in Switzerland (the Swiss Plan). Under the Swiss Plan, the Company and certain of its employees with annual earnings in excess of government determined amounts are required to make contributions into a fund managed by an independent investment fiduciary. Employer contributions must be in an amount at least equal to the employee’s contribution. The Swiss Plan assets are comprised of an insurance contract that has a fair value consistent with its contract value based on the practicability exception using level 3 inputs. The entire liability is listed as non-current, because plan assets are greater than the expected benefit payments over the next year. The Company recognizes pension expense as a component of selling, general and administrative expense.

The measurement date used for the Swiss Plan is December 31, annually. The expense components of the Swiss Plan consisted of the following:

	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
Net service cost	$	0.3		$	1.0
Expected return on plan assets, net of expenses	(0.1		)	(0.4		)
Total pension expense	$	0.2		$	0.6