RETIREMENT BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2018

Net periodic benefit costs for the Company’s defined benefit pension plans for the years ended December 31, 2018 and 2017 included the following (amounts in thousands):



	Year ended December 31,
	2018			2017
Service cost	$	2,704		$	565
Interest cost	351			95
Expected return on plan assets	(944		)	(224		)
Recognized net actuarial loss	8			8
Net period benefit cost	$	2,119		$	444

Schedule of Weighted Average Assumptions Used

The following weighted average assumptions were used to develop net periodic pension benefit costs and the actuarial present values of projected pension benefit obligations for the years ended December 31, 2018 and 2017, respectively:



	As of December 31,
	2018		2017
Discount rate	1.00	%	0.74	%
Expected return on plan assets	3.40	%	3.08	%
Rate of compensation increase	1.70	%	1.70	%

Schedule of Benefit Obligations and Plan Assets

The following sets forth the change in projected benefit obligations and the change in plan assets for the years ended December 31, 2018 and 2017 and a reconciliation of the funded status at December 31, 2018 and 2017, respectively (amounts in thousands):



	Year ended December 31,
	2018			2017
Change In Projected Benefit Obligations
Projected benefit obligations, beginning of year	$	47,661		$	668
Interest cost	351			95
Service cost	2,704			565
Actuarial loss	762			(12		)
Employee contribution	641			180
Premiums paid	—			(89		)
Benefit payment	(1,483		)	(19		)
Plans transferred in	2,280			46,448
Effect of foreign currency exchange rates	(374		)	(175		)
Projected benefit obligations, end of year	$	52,542		$	47,661

	Year ended December 31,
	2018			2017
Change In Plan Assets
Plan assets at fair value, beginning of year	$	26,943		$	—
Actual return on plan assets	1,802			82
Employer contributions	1,720			450
Employee contributions	641			180
Benefits paid	(1,463		)	—
Premiums paid	—			(89		)
Plans transferred in	1,589			26,477
Effect of foreign currency exchange rates	(129		)	(157		)
Plan assets at fair value, end of year	$	31,103		$	26,943

Schedule of Funded Status



	Year ended December 31,
	2018		2017
Reconciliation Of Funded Status
Fair value of plan assets	$	31,103	$	26,943
Benefit obligations	52,542		47,661
Unfunded benefit obligations	$	21,439	$	20,718

Schedule of Expected Benefit Payments and Minimum Contribution on Unfunded Plans

The following table is the summary of expected future benefit payments (in thousands):



2019	$	1,410
2020	1,516
2021	1,317
2022	1,433
2023	1,878
Next five years	2,978