EMPLOYEE BENEFIT PLANS

6 Months Ended

Jun. 30, 2021

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

We have a defined benefit pension plan covering certain United Kingdom employees (the “U.K. Plan”). Net periodic pension credit includes the following components (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Interest cost	$	326	$	426	648		$	867
Expected return on plan assets	(509)		(558)		(1,012)		$	(1,135)
Amortization of prior service cost	9		8		17		$	16
Net periodic pension credit	$	(174)	$	(124)	$	(347)	$	(252)

The expected long-term rate of return on invested assets is determined based on the weighted average of expected returns on asset investment categories for the U.K. Plan as follows: 2.1% overall, 4.6% for equities and 1.4% for debt securities. We expect to contribute $4.2 million to the U.K. Plan for 2021, of which $2.1 million has been contributed through June 30, 2021.