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Defined Severance Benefits (Tables)
12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
Schedule of Defined Benefits Liabilities
Changes in defined severance benefits obligation were as follows:
(in thousands)20222021
Beginning balance, January 1$283,032 $164,573 
Current service cost143,354 120,784 
Interest cost8,169 2,869 
Actuarial (gains) losses(31,515)52,528 
Payments from plans(81,097)(49,712)
Plan changes— 10,263 
Cumulative effects of foreign currency translation(17,471)(18,273)
Ending balance, December 31$304,472 $283,032 
Current$78,365 $76,368 
Noncurrent$226,107 $206,664 
Schedule of Components of Net Periodic Costs
Net periodic cost consists of the following:
(in thousands)
202220212020
Current service costs$143,354 $120,784 $70,019 
Interest cost8,169 2,869 1,310 
Amortization of:
Prior service cost3,382 90 — 
Net actuarial loss6,319 4,471 140 
Net periodic benefit cost$161,224 $128,214 $71,469 
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, 2022December 31, 2021
Discount rates5.10%5.30%2.70%3.00%
Salary growth rates5.00%8.00%5.00%5.24%
The principal actuarial assumptions used to determine the net periodic cost were as follows:
202220212020
Discount rates2.70 %3.00 %1.73 %2.57 %1.74 %2.45 %
Salary growth rates5.00 %5.24 %1.48 %5.00 %1.51 %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, 2022 was as follows:
(in thousands)Less than 1 yearBetween 1-2 yearsBetween 2-5 yearsOver 5 yearsTotal
Defined severance benefits$83,830 $86,054 $218,475 $319,927 $708,286