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Defined Severance Benefits (Tables)
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Schedule of Defined Benefits Liabilities
Changes in defined severance benefits obligation were as follows:
(in thousands)December 31, 2021December 31, 2020
Beginning balance$164,573 $87,206 
Current service cost120,784 70,019 
Interest expense2,869 1,310 
Actuarial losses arising from experience adjustments, demographic assumptions, and changes in financial assumptions52,528 18,005 
Payments from plans(49,712)(23,159)
Plan changes/amendments10,263 — 
Cumulative effects of foreign currency translation(18,273)11,192 
Ending balance$283,032 $164,573 
Schedule of Components of Net Periodic Costs
Net periodic cost consists of the following:
Year Ended December 31,
(in thousands)
202120202019
Current service costs$120,784 $70,019 $42,097 
Interest expense2,869 1,310 1,061 
Amortization of:
Prior service cost90 — — 
Net actuarial loss4,471 140 — 
Curtailments/Settlements— — 97 
Net periodic benefit cost$128,214 $71,469 $43,255 
Schedule of Principal Actuarial Assumptions Used to Determine Defined Benefits Liabilities and Net Period Cost
The principal actuarial assumptions used to determine defined severance benefits obligation were as follows:
December 31, 2021December 31, 2020
Discount rates2.70%–3.00%1.73%–2.57%
Salary growth rates5.00%–5.24%1.48%–5.00%
The principal actuarial assumptions used to determine the net periodic cost were as follows:
Year Ended December 31,
202120202019
Discount rates1.73%–2.57%1.74%–2.45%2.30%–2.74%
Salary growth rates1.48%–5.00%1.51%–5.00%1.49%–5.00%
Schedule of Expected Maturity Analysis of Undiscounted Defined Severance Benefits
The expected maturity analysis of undiscounted defined severance benefits as of December 31, 2021 was as follows:
(in thousands)Less than 1 yearBetween 1-2 yearsBetween 2-5 yearsOver 5 yearsTotal
Defined severance benefits$80,455 $90,854 $210,581 $256,755 $638,645