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Pensions and Other Postretirement Benefits (Tables)
12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Reconciliation of the Benefit Obligation, Plan Assets, and Funded Status to Benefit Plans
The following table sets forth a reconciliation of the benefit obligation, plan assets, and funded status related to pension plans (in thousands):
December 31, 2021December 31, 2020
U.S.
Plans
Non-U.S.
Plans
U.S.
Plans
Non-U.S.
Plans
Change in benefit obligation:
Benefit obligation at beginning of year$2,747 $28,088 $2,414 $24,857 
Service cost (adjusted for actual employee contributions) 379 — 402 
Interest cost57 353 70 442 
Actuarial (gains) losses (103)(792)338 1,863 
Benefits paid(75)(851)(75)(659)
Curtailments and settlements (108)— (95)
Plan amendments and other (172)— — 
Currency translation (740)— 1,278 
Benefit obligation at end of year$2,626 $26,157 $2,747 $28,088 
Change in plan assets:
Fair value of plan assets at beginning of year$ $18,157 $— $16,420 
Actual return on plan assets 1,044 — 734 
Company contributions75 1,613 75 919 
Benefits paid(75)(851)(75)(659)
Currency translation (246)— 743 
Fair value of plan assets at end of year$ $19,717 $— $18,157 
Funded status at end of year$(2,626)$(6,440)$(2,747)$(9,931)
The following table sets forth a reconciliation of the benefit obligation, plan assets, and funded status related to other postretirement benefit plans (in thousands):
OPEB Plans
December 31,
20212020
Change in benefit obligation:
Benefit obligation at beginning of year$3,577 $4,633 
Service cost (adjusted for actual employee contributions)36 123 
Interest cost68 133 
Contributions by participants 25 
Actuarial gains(591)(1,498)
Benefits paid(205)(249)
Plan amendments and other 410 
Benefit obligation at end of year$2,885 $3,577 
Change in plan assets:
Fair value of plan assets at beginning of year$ $— 
Company contributions205 224 
Contributions by participants 25 
Benefits paid(205)(249)
Fair value of plan assets at end of year$ $— 
Funded status at end of year$(2,885)$(3,577)
Amounts Recognized in the Consolidated Balance Sheet Pretax Amounts
Amounts recognized in the consolidated balance sheets consist of the following pre-tax amounts (in thousands):
December 31, 2021December 31, 2020
U.S.
Plans
Non-U.S.
Plans
U.S.
Plans
Non-U.S.
Plans
Other accrued expenses$(107)$(375)$(105)$(240)
Accrued pension and other postretirement costs$(2,519)$(6,065)$(2,642)$(9,691)
Accumulated other comprehensive loss$693 $6,764 $823 $9,068 
$(1,933)$324 $(1,924)$(863)
Amounts recognized in the consolidated balance sheets consist of the following pre-tax amounts (in thousands):
OPEB Plans
December 31,
20212020
Other accrued expenses$(227)$(266)
Accrued pension and other postretirement costs$(2,658)$(3,311)
Accumulated other comprehensive (gain)/loss$(28)$583 
$(2,913)$(2,994)
Actuarial Items Actuarial items consist of the following (in thousands):
December 31, 2021December 31, 2020
U.S.
Plans
Non-U.S.
Plans
U.S.
Plans
Non-U.S.
Plans
Unrecognized net actuarial loss$693 $6,709 $823 $9,008 
Unrecognized prior service cost 55 — 60 
$693 $6,764 $823 $9,068 
Actuarial items consist of the following (in thousands):
OPEB Plans
December 31,
20212020
Unrecognized net actuarial (gain)/loss$(28)$583 
$(28)$583 
Additional Information Regarding Projected and Accumulated Benefit Obligations for the Pension Plans
The following table sets forth additional information regarding the projected and accumulated benefit obligations for the pension plans (in thousands):
December 31, 2021
U.S.
Plans
Non-U.S.
Plans
Accumulated benefit obligation, all plans
$2,626 $23,796 
Plans for which the accumulated benefit obligation exceeds plan assets:
Projected benefit obligation
$2,626 $23,451 
Accumulated benefit obligation
$2,626 $22,634 
Fair value of plan assets
 $17,778 

December 31, 2020
U.S.
Plans
Non-U.S.
Plans
Accumulated benefit obligation, all plans
$2,747 $25,148 
Plans for which the accumulated benefit obligation exceeds plan assets:
Projected benefit obligation
$2,747 $25,107 
Accumulated benefit obligation
$2,747 $24,099 
Fair value of plan assets
— $16,259 
Components of Net Periodic Costs of Benefit Plans The following table sets forth the components of net periodic cost of pension (in thousands):
Years ended December 31,
202120202019
U.S.
Plans
Non-U.S.
Plans
U.S.
Plans
Non-U.S.
Plans
U.S.
Plans
Non-U.S.
Plans
Annual service cost
$ $379 $— $402 $— $336 
Less: employee contributions
  — — — — 
Net service cost
 379 — 402 — 336 
Interest cost
57 353 70 442 85 535 
Expected return on plan assets
 (393)— (442)— (517)
Amortization of actuarial losses
27 459 109 286 38 164 
Amortization of transition obligation
 (8)— — 
Curtailment and settlement losses
 (108)— — — — 
Net periodic benefit cost
$84 $682 $179 $693 $123 $519 
The following table sets forth the components of net periodic benefit costs (in thousands):
OPEB Plans
Years ended December 31,
202120202019
OPEB
Plans
OPEB
Plans
OPEB
Plans
Net service cost
36 123 126 
Interest cost
68 133 180 
Amortization of actuarial losses
20 137 156 
Net periodic benefit cost
$124 $393 $462 
Weighted-average Assumptions Used for Benefit Obligations and Net Periodic Pension Costs
The following weighted-average assumptions were used to determine benefit obligations at December 31 of the respective years:
20212020
U.S.
Plans
Non-U.S.
Plans
U.S.
Plans
Non-U.S.
Plans
Discount rate2.53 %1.66 %2.11 %1.29 %
Rate of compensation increaseN/A2.97 %N/A2.77%
Expected return on plan assetsN/A2.10 %N/A2.66 %
The following weighted-average assumptions were used to determine the net periodic pension costs for the years ended December 31, 2021 and 2020:
20212020
U.S.
Plans
Non-U.S.
Plans
U.S.
Plans
Non-U.S.
Plans
Discount rate2.11 %1.29 %2.97 %1.86 %
Rate of compensation increaseN/A2.77%N/A1.20 %
Expected return on plan assetsN/A2.66 %N/A3.56 %
The following weighted-average assumptions were used to determine benefit obligations at December 31 of the respective years:
OPEB Plans
December 31,
20212020
Discount rate2.46 %1.99 %

The following weighted-average assumptions were used to determine the net periodic benefit costs for the years ended December 31, 2021 and 2020:
OPEB Plans
December 31,
20212020
Discount rate1.99 %2.97 %
Health care trend rate6.00 %5.40 %
Composition of Plan Assets
Plan assets are comprised of:
December 31, 2021December 31, 2020
U.S.
Plans
Non-U.S.
Plans
U.S.
Plans
Non-U.S.
Plans
Equity securities 47 %— 48 %
Fixed income securities 39 %— 39 %
Cash and cash equivalents 14 %— 13 %
Total 100 %— 100 %
Changes in Fair Value of Plan Assets for Each Hierarchy Level A summary of the Company’s pension plan assets for each fair value hierarchy level are as follows for the periods presented (see Note 16 for further description of the levels within the fair value hierarchy (in thousands)):
As of December 31, 2021Fair value measurements at reporting date using:
Total Fair ValueLevel 1 InputsLevel 2 InputsLevel 3 Inputs
Defined benefit pension plan assets
Equity securities$9,262 $ $9,262 $ 
Fixed income securities7,646  7,646  
Cash and cash equivalents2,809 1,577 1,232  
$19,717 $1,577 $18,140 $ 
As of December 31, 2020Fair value measurements at reporting date using:
Total Fair ValueLevel 1 InputsLevel 2 InputsLevel 3 Inputs
Defined benefit pension plan assets
Equity securities$8,779 $— $8,779 $— 
Fixed income securities7,700 — 7,700 — 
Cash and cash equivalents1,678 1,678 — — 
$18,157 $1,678 $16,479 $— 
Estimated future Benefit Payments
Estimated future benefit payments are as follows (in thousands):
US Pension
Plans
Non-US
Plans
2022$107 $763 
2023138 1,129 
2024137 844 
2025137 1,216 
2026138 670 
2025 - 2028794 5,455 
Estimated future benefit payments are as follows (in thousands):
OPEB
Plans
2022$227 
2023$165 
2024$198 
2025$176 
2026$178 
2025 - 2028$898