Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

Employee Benefit Plans

Schedule of change in benefit obligations, fair value of the plan assets and funded status of Company's pension plans and the amounts recognized in the Company's consolidated financial statements

	Year ended December,
	2023		2022
Change in Benefit Obligation:
Benefit obligation at beginning of period (a)	$	61,770	$	117,472
Service cost		37		53
Interest cost		3,050		1,910
Actuarial gain		(1,019)		(44,778)
Plan amendments		—		149
Benefits paid		(2,577)		(1,915)
Foreign-exchange rate changes		3,028		(11,159)
Benefit obligation at end of year	$	64,289	$	61,732
Change in Plan Assets:
Fair value of plan assets at beginning of period	$	45,694	$	89,972
Actual return on plan assets		3,559		(36,679)
Employer contributions		2,993		2,866
Benefits paid		(2,473)		(1,818)
Foreign-exchange rate changes		2,308		(8,647)
Fair value of plan assets at end of year		52,081		45,694
Funded status at end of year	$	(12,208)	$	(16,038)
Net amount recognized in the Consolidated Balance Sheets:
Pension liability, net (b)	$	(13,192)	$	(16,917)
Amounts recognized in accumulated other comprehensive loss, net of tax consist of:
Net actuarial gain (loss)		(174)		(3,583)
Net amount recognized in accumulated other comprehensive loss, net of tax	$	(174)	$	(3,583)
Plans with underfunded or non-funded accumulated benefit obligation:
Aggregate projected benefit obligation	$	64,289	$	61,732
Aggregate accumulated benefit obligation	$	64,289	$	61,732
Aggregate fair value of plan assets	$	52,081	$	45,694

(a) An immaterial change was made in the benefit obligation at beginning of year 2023 compared to the benefit obligation at end of year 2022 on account of inclusion of payroll tax liability on Norway pension plan.

(b) Consolidated balance of $13.2 million as of December 31, 2023 includes pension liabilities of $10.1 million, $1.6 million, $(1.0) million and $1.5 million under U.K., Asterion, German and Norway pension plans, respectively, and minimum regulatory benefit for a Philippines legal entity of $1.0 million. Consolidated balance of $16.9 million as of December 31, 2022 includes pension liabilities of $13.7 million, $1.7 million, $1.2 million and $(0.6) million under U.K., Asterion, German and Norway pension plans, respectively, and minimum regulatory benefit for a Philippines legal entity of $0.8 million.

Schedule of components of the net periodic benefit cost

	Year ended December 31,
	2023		2022
Service cost	$	37	$	53
Interest cost		3,050		1,910
Expected return on plan assets		(2,717)		(2,856)
Amortization:
Amortization of prior service cost		124		273
Amortization of net loss		1,664		1,616
Net periodic benefit cost	$	2,158	$	996

Schedule of principal assumptions used to determine benefit obligation and net periodic benefit costs

	December 31,
	2023		2022		2023		2022		2023		2022		2023		2022
	UK				Germany				Norway				Asterion
Weighted-average assumptions used to determine benefit obligations:
Discount rate	4.80	%	5.00	%	3.16	%	3.80	%	3.10	%	3.00	%	3.16	%	3.80	%
Rate of compensation increase	N/A		N/A		N/A		N/A		3.50	%	3.50	%	N/A		N/A
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate	5.00	%	1.80	%	3.16	%	3.80	%	3.10	%	3.00	%	3.16	%	3.80	%
Expected asset return	5.87	%	3.45	%	N/A		N/A	%	4.45	%	4.15	%	3.16	%	3.80	%
Rate of compensation increase	N/A		N/A		N/A		N/A		3.50	%	3.50	%	N/A		N/A

Schedule of weighted average allocation of plan assets by asset category

	December 31,
	2023		2022
U.K. and other international equities	27.3	%	27.0	%
U.K. government and corporate bonds	5.1		5.5
Diversified growth fund	15.1		18.5
Liability driven investments	50.9		44.3
Multi-asset credit fund	1.6		4.7
Total	100.0	%	100.0	%

Schedule of fair value of pension assets

	December 31, 2023
	Total		Level 1		Level 2		Level 3
Asset Category:
Cash	$	941	$	941	$	—	$	—
Equity funds:
U.K.		—		—		—		—
Other international		13,297		—		13,297		—
Fixed income securities:
Corporate bonds / U.K. Gilts		2,671		—		2,671		—
Other investments:
Diversified growth fund		7,846		—		7,846		—
Liability driven investments		26,488		—		26,488		—
Multi-asset credit fund		838		—		838		—
Total fair value	$	52,081	$	941	$	51,140	$	—

	December 31, 2022
	Total		Level 1		Level 2		Level 3
Asset Category:
Cash	$	932	$	932	$	—	$	—
Equity funds:
U.K.		—		—		—		—
Other international		11,400		—		11,400		—
Fixed income securities:
Corporate bonds / U.K. Gilts		2,529		—		2,529		—
Other investments:
Diversified growth fund		8,417		—		8,417		—
Liability driven investments		20,258		—		20,258		—
Multi-asset credit fund		2,158		—		2,158		—
Total fair value	$	45,694	$	932	$	44,762	$	—

Schedule of estimated future benefit payments

	Estimated
	Benefit
	Payments
Year ended December 31,
2024	$	2,161
2025		2,781
2026		2,800
2027		3,122
2028		3,537
2029 – 2033		18,062
Total	$	32,463