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Employee benefit plans (Tables)
12 Months Ended
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Net Periodic Defined Benefit Cost (Income)

Years ended December 31,

    

2021

    

2022

2023

(In thousands)

Net periodic pension cost:

Interest cost

$

947

$

1,138

$

1,619

Expected return on plan assets

 

(1,603)

 

(1,552)

 

(1,452)

Plan settlement

104

4,911

Recognized actuarial losses

1,562

1,664

1,391

Total

$

906

$

1,354

$

6,469

Defined Benefit Pension Plans  
Defined Benefit Plan Disclosure [Line Items]  
Expected Benefit Payments

Years ending December 31, 

    

Amount

(In thousands)

2024

$

3,012

2025

 

2,923

2026

 

2,849

2027

 

2,766

2028

 

2,668

Next 5 years

 

11,725

Funded Status of Defined Benefit Plans

December 31, 

    

2022

    

2023

(In thousands)

Change in projected benefit obligations (PBO):

Benefit obligations at beginning of the year

$

50,367

$

36,090

Interest cost

 

1,138

 

1,619

Plan settlement

(188)

(5,537)

Actuarial (gains) losses

 

(10,777)

 

265

Change in currency exchange rates

 

(965)

 

116

Benefits paid

 

(3,485)

 

(3,115)

Benefit obligations at end of the year

 

36,090

 

29,438

Change in plan assets:

 

  

 

  

Fair value of plan assets at beginning of the year

 

47,940

 

34,126

Actual return on plan assets

 

(10,263)

 

2,009

Employer contributions

 

1,228

 

196

Plan settlement

(188)

(5,537)

Change in currency exchange rates

 

(1,106)

 

131

Benefits paid

 

(3,485)

 

(3,115)

Fair value of plan assets at end of year

 

34,126

 

27,810

Funded status

$

(1,964)

$

(1,628)

Amounts recognized in the balance sheet:

 

  

 

  

Noncurrent pension asset

$

1,105

$

Accrued pension costs:

 

 

Current

 

(57)

 

(57)

Noncurrent

 

(3,012)

 

(1,571)

Total

 

(1,964)

 

(1,628)

Accumulated other comprehensive loss - actuarial losses, net

 

27,530

 

21,802

Total

$

25,566

$

20,174

Accumulated benefit obligations (ABO)

$

36,090

$

29,438

Changes in Other Comprehensive Income (Loss)

    

Years ended December 31, 

    

2021

    

2022

    

2023

(In thousands)

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

Net actuarial gain (loss) arising during the year

$

1,618

$

(1,034)

$

(574)

Plan settlement

104

4,911

Amortization of unrecognized net actuarial gain (loss)

 

(1,562)

 

1,664

 

1,391

Total

$

56

$

734

$

5,728

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

December 31, 

    

2022

    

2023

(In thousands)

PBO at end of the year:

U.S. plan

$

30,254

$

29,438

U.K. plan

 

5,836

 

Total

$

36,090

$

29,438

Fair value of plan assets at end of the year:

U.S. plan

$

27,185

$

27,810

U.K. plan

 

6,941

 

Total

$

34,126

$

27,810

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

PBO

$

30,254

$

29,438

ABO

 

30,254

 

29,438

Fair value of plan assets

 

27,185

 

27,810

Summary of Assumptions Used to Determine Net Benefit Obligation

Years ended December 31, 

Rate

    

2021

    

2022

    

2023

 

Discount rate

 

2.1

%  

2.3

%  

5.1

%

Long-term rate of return on plan assets

 

3.3

%  

3.3

%  

4.9

%

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, 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

As noted above, in March 2021 we purchased a bulk annuity for our U.K. pension plan and such annuity is considered a Level 3 asset included with “U.K. – Other” in the table above.

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, 2023:

  

  

  

  

  

U.S.:

  

  

  

  

  

Equities

$

7,786

$

$

$

$

7,786

Fixed income

18,733

18,733

Cash and other

1,291

489

41

761

Total

$

27,810

$

489

$

$

41

$

27,280