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Employee benefit plans (Tables)
12 Months Ended
Dec. 31, 2022
Components of Net Periodic Defined Benefit Cost (Income)

Years ended December 31,

    

2020

    

2021

2022

(In thousands)

Net periodic pension cost:

Interest cost

$

1,483

$

947

$

1,138

Expected return on plan assets

 

(1,850)

 

(1,603)

 

(1,552)

Plan settlement

104

Recognized actuarial losses

1,412

1,562

1,664

Total

$

1,045

$

906

$

1,354

Defined Benefit Pension Plans  
Expected Benefit Payments

Years ending December 31, 

    

Amount

(In thousands)

2023

$

3,441

2024

 

3,368

2025

 

3,295

2026

 

3,237

2027

 

3,164

Next 5 years

 

14,426

Funded Status of Defined Benefit Plans

December 31, 

    

2021

    

2022

(In thousands)

Change in projected benefit obligations (PBO):

Benefit obligations at beginning of the year

$

52,873

$

50,367

Interest cost

 

947

 

1,138

Plan settlement

(188)

Actuarial (gains) losses

 

295

 

(10,777)

Change in currency exchange rates

 

(73)

 

(965)

Benefits paid

 

(3,675)

 

(3,485)

Benefit obligations at end of the year

 

50,367

 

36,090

Change in plan assets:

 

  

 

  

Fair value of plan assets at beginning of the year

 

50,260

 

47,940

Actual return on plan assets

 

226

 

(10,263)

Employer contributions

 

1,169

 

1,228

Change in currency exchange rates

 

(40)

 

(1,294)

Benefits paid

 

(3,675)

 

(3,485)

Fair value of plan assets at end of year

 

47,940

 

34,126

Funded status

$

(2,427)

$

(1,964)

Amounts recognized in the balance sheet:

 

  

 

  

Noncurrent pension asset

$

1,356

$

1,105

Accrued pension costs:

 

 

Current

 

(61)

 

(57)

Noncurrent

 

(3,722)

 

(3,012)

Total

 

(2,427)

 

(1,964)

Accumulated other comprehensive loss -
 actuarial losses, net

 

28,265

 

27,530

Total

$

25,838

$

25,566

Accumulated benefit obligations (ABO)

$

50,367

$

36,090

Changes in Other Comprehensive Income (Loss)

    

Years ended December 31, 

    

2020

    

2021

    

2022

(In thousands)

Changes in plan assets and benefit obligations recognized in
  other comprehensive income:

Net actuarial gain (loss) arising during the year

$

(934)

$

1,618

$

(1,034)

Plan settlement

104

Amortization of unrecognized net actuarial gain (loss)

 

1,412

 

(1,562)

 

1,664

Total

$

478

$

56

$

734

Information Concerning Defined Benefit Pension Plans (Including Certain Plans for Which ABO Exceeds Fair Value of Plan Assets)

December 31, 

    

2021

    

2022

(In thousands)

PBO at end of the year:

U.S. plan

$

40,254

$

30,254

U.K. plan

 

10,113

 

5,836

Total

$

50,367

$

36,090

Fair value of plan assets at end of the year:

U.S. plan

$

36,471

$

27,185

U.K. plan

 

11,469

 

6,941

Total

$

47,940

$

34,126

Plans for which the ABO exceeds plan assets (only our U.S. plan):

PBO

$

40,254

$

30,254

ABO

 

40,254

 

30,254

Fair value of plan assets

 

36,471

 

27,185

Summary of Assumptions Used to Determine Net Benefit Obligation

Years ended December 31, 

Rate

    

2020

    

2021

    

2022

 

Discount rate

 

2.9

%  

2.1

%  

2.3

%

Long-term rate of return on plan assets

 

4.2

%  

3.3

%  

3.3

%

Schedule of composition of our pension plan assets by fair value level

Fair Value Measurements

Quoted prices 

Significant other 

Significant 

in active 

observable 

unobservable 

Assets measured 

    

Total

    

markets (Level 1)

    

inputs (Level 2)

    

inputs (Level 3)

    

at NAV

(In thousands)

December 31, 2021:

 

  

 

  

 

  

 

  

 

  

U.S.

 

  

 

  

 

  

 

  

 

  

Equities

$

12,951

$

831

$

$

108

$

12,012

Fixed income

 

21,299

 

 

 

 

21,299

Cash and other

 

2,221

 

1,352

 

 

 

869

U.K. - Other

 

11,469

 

1,324

 

 

10,145

 

Total

$

47,940

$

3,507

$

$

10,253

$

34,180

Fair Value Measurements

Quoted prices 

Significant other 

Significant 

in active 

observable 

unobservable 

Assets measured 

    

Total

    

markets (Level 1)

    

inputs (Level 2)

    

inputs (Level 3)

    

at NAV

(In thousands)

December 31, 2022:

  

  

  

  

  

U.S.

  

  

  

  

  

Equities

$

8,591

$

694

$

$

$

7,897

Fixed income

15,954

149

15,805

Cash and other

2,640

1,903

44

693

U.K. - Other

6,941

1,104

5,837

Total

$

34,126

$

3,850

$

$

5,881

$

24,395