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Employee Benefits (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Reconciliation of Changes in Projected Benefit Obligation The following table provides a reconciliation of the changes in the projected benefit obligation for the years ended December 31, 2024 and 2023:
(in thousands)20242023
Reconciliation of benefit obligation:
Obligation as of January 1$6,027 $5,215 
Service cost59 59 
Interest cost210 220 
Actuarial loss
145 541 
Benefit payments(187)(173)
Effect of foreign currency exchange rate changes(358)165 
Benefit obligation as of December 315,896 6,027 
Fair value of assets as of December 31 2,220 3,691 
Funded status as of December 31$(3,676)$(2,336)
Schedule of Amounts Recognized in Consolidated Balance Sheets
We recognized the following amounts in the consolidated balance sheets at December 31, 2024 and 2023:

(in thousands)20242023
Other assets$2,220 $3,691 
Accrued and other liabilities(180)(175)
Other liabilities(5,716)(5,852)
Net liability$(3,676)$(2,336)
Schedule of Accumulated and Projected Benefit Obligations
Following are the projected benefit obligation and accumulated benefit obligation at December 31, 2024 and 2023:

(in thousands)20242023
Projected benefit obligation$5,896 $6,027 
Accumulated benefit obligation$5,672 $5,776 
The following table shows the components of net periodic benefit costs and the amounts recognized in accumulated other comprehensive income (loss) for the years ended December 31, 2024, 2023 and 2022:



(in thousands)202420232022
Net periodic benefit cost:
Service cost$59 $59 $103 
Interest cost210 220 99 
Amortization of actuarial (gain) loss
— (46)45 
Total net periodic pension cost269 233 247 
Other changes in benefit obligations recognized in other comprehensive income (loss):
Net loss (gain)
145 541 (3,387)
Amortization of prior years' unrecognized gain (loss)
— 46 (45)
Total recognized as other comprehensive income (loss), excluding tax145 587 (3,432)
Total expense (gain) recognized in net periodic benefit cost and other comprehensive (loss) income
$414 $820 $(3,185)
Schedule of Assumptions Used to Determine Benefit Obligations
The following assumptions are used to determine the benefit obligations as of December 31, 2024 and 2023:

20242023
Discount rate3.6%3.6%
Rate of compensation increase
3.0%3.0%
Schedule of Estimated Future Benefit Payments
The following benefit payments, including expected future service cost, are expected to be paid:

(in thousands) 
Estimated future benefit payments for the years ending December 31: 
2025$186 
2026214 
2027238 
2028265 
2029297 
2030 through 2034
1,715