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Deferred Compensation Benefits (Tables)
12 Months Ended
Dec. 31, 2021
Compensation And Retirement Disclosure [Abstract]  
Schedule of Net Periodic Pension Cost

Net periodic pension cost for the years ended December 31, 2021, 2020, and 2019 for all of the plans is as follows:

 

Net Periodic Pension Cost

 

2021

 

 

2020

 

 

2019

 

(amounts in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

499

 

 

$

428

 

 

$

330

 

Interest cost

 

 

197

 

 

 

355

 

 

 

583

 

Expected return on assets

 

 

(702

)

 

 

(657

)

 

 

(612

)

Amortization of actuarial loss

 

 

495

 

 

 

304

 

 

 

190

 

Net periodic pension cost

 

$

489

 

 

$

430

 

 

$

491

 

 

 

Schedule of Changes in Benefit Obligation

The change in benefit obligation and reconciliation of fair value of plan assets for the years ended December 31, 2021 and 2020 for the ESBP, NDBP, BDBP, FDBP, and SDBP plans are as follows:  

 

Changes in Benefit Obligation

 

2021

 

 

2020

 

(amounts in thousands)

 

 

 

 

 

 

 

 

Benefit obligation at beginning of period

 

$

34,729

 

 

$

30,629

 

Service cost

 

 

499

 

 

 

428

 

Interest cost

 

 

197

 

 

 

355

 

Benefits paid

 

 

(1,036

)

 

 

(996

)

Acquisition

 

 

 

 

 

22

 

Actuarial loss

 

 

(1,341

)

 

 

1,733

 

Effect of exchange rate changes

 

 

(2,091

)

 

 

2,558

 

Benefit obligation at end of period

 

 

30,957

 

 

 

34,729

 

Reconciliation of Fair Value of Plan Assets

 

 

 

 

 

 

 

 

Fair value of plan assets at beginning of period

 

 

20,656

 

 

 

18,079

 

Actual return on plan assets

 

 

636

 

 

 

603

 

Employer contributions

 

 

1,199

 

 

 

1,188

 

Benefits paid

 

 

(922

)

 

 

(968

)

Effect of exchange rate changes

 

 

(1,591

)

 

 

1,754

 

Fair value of plan assets at end of period

 

 

19,978

 

 

 

20,656

 

Accrued benefit cost

 

$

10,979

 

 

$

14,073

 

 

Accrued benefit cost for the ESBP, NDBP, BDBP, FDBP, and SDBP is included in the consolidated balance sheet as follows:

 

(amounts in thousands except percentages)

 

ESBP

 

 

NDBP

 

 

BDBP

 

 

FDBP

 

 

SDBP

 

As of December 31, 2021:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-current assets

 

$

 

 

$

 

 

$

100

 

 

$

 

 

$

 

Current liabilities

 

$

509

 

 

$

 

 

$

 

 

$

36

 

 

$

 

Non-current liabilities

 

$

3,844

 

 

$

6,280

 

 

$

 

 

$

367

 

 

$

41

 

Discount rates:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Benefit obligation

 

 

2.10

%

 

 

1.00

%

 

 

1.05

%

 

 

1.00

%

 

 

0.35

%

Net periodic pension cost

 

 

1.56

%

 

 

0.40

%

 

 

1.05

%

 

 

0.35

%

 

 

0.45

%

Salary increase rate

 

 

%

 

 

%

 

 

3.75

%

 

 

1.90

%

 

 

1.75

%

Expected return on plan assets

 

 

%

 

 

4.00

%

 

 

3.10

%

 

 

%

 

 

%

As of December 31, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-current assets

 

$

 

 

$

 

 

$

97

 

 

$

 

 

$

 

Current liabilities

 

$

512

 

 

$

 

 

$

 

 

$

 

 

$

 

Non-current liabilities

 

$

4,261

 

 

$

8,783

 

 

$

 

 

$

580

 

 

$

34

 

Discount rates:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Benefit obligation

 

 

1.56

%

 

 

0.40

%

 

 

0.50

%

 

 

0.35

%

 

 

0.35

%

Net periodic pension cost

 

 

2.60

%

 

 

0.90

%

 

 

0.50

%

 

 

0.80

%

 

 

0.45

%

Salary increase rate

 

 

%

 

 

%

 

 

3.55

%

 

 

1.75

%

 

 

1.75

%

Expected return on plan assets

 

 

%

 

 

4.00

%

 

 

3.20

%

 

 

%

 

 

%

 

Deferred Compensation Benefits Anticipated Benefit Payments

Anticipated benefit payments for the ESBP, NDBP, BDBP, FDBP, and SDBP expected to be paid in future years are as follows:

 

 

 

 

 

(amounts in thousands)

 

 

 

 

2022

 

$

929

 

2023

 

 

850

 

2024

 

 

942

 

2025

 

 

1,487

 

2026

 

 

998

 

2027 - 2031

 

 

5,021

 

Total

 

$

10,227