XML 39 R24.htm IDEA: XBRL DOCUMENT v3.25.4
EMPLOYEE BENEFIT PLANS
12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PLANS EMPLOYEE BENEFIT PLANS
Defined Contribution Plans
The Company sponsors one 401(k) savings plan for eligible employees, which allows participants to make pretax or after tax contributions and the Company matches certain percentages of those contributions. The plan also has a discretionary profit sharing portion and matches 401(k) contributions with shares of the Company’s Common Stock. All amounts contributed to the plan are deposited into a trust fund administered by independent trustees. The Company provided for matching 401(k) savings plan contributions of $4,794, $4,644, and $4,381 in 2025, 2024 and 2023, respectively. There were no profit sharing contributions in 2025 and 2024. Profit sharing contributions in 2023 were not material. The Company also sponsors various defined contribution plans for employees working in our foreign operations and matches certain employee contributions. These contributions are deposited into trust funds administered by independent trustees. The Company's contributions to these plans amounted to $814, $555, and $600 in 2025, 2024, and 2023, respectively.
Postretirement Medical Plans
The Company provides postretirement benefits in the form of two unfunded postretirement medical plans; one that is under a collective-bargaining agreement and covers eligible retired employees of the Verona, Missouri facility and a plan for executive officers of the Company who meet eligibility requirements as set forth in the Company's Officer Retiree Program. The Company uses a December 31 measurement date for its postretirement medical plans. In accordance with ASC 715, “Compensation—Retirement Benefits,” the Company is required to recognize the overfunded or underfunded status of a defined benefit post retirement plan (other than a multi-employer plan) as an asset or liability in its statement of financial position, and to recognize changes in that funded status in the year in which the changes occur through comprehensive income.
The actuarial recorded liabilities for such unfunded postretirement benefits are as follows:
Change in benefit obligation:
 20252024
Benefit obligation at beginning of year$1,522 $1,395 
Service cost with interest to end of year115 113 
Interest cost71 55 
Participant contributions19 20 
Benefits paid(67)(32)
Actuarial gain(539)(29)
Benefit obligation at end of year$1,122 $1,522 
Change in plan assets:
 20252024
Fair value of plan assets at beginning of year$— $— 
Employer contributions48 12 
Participant contributions19 20 
Benefits paid(67)(32)
Fair value of plan assets at end of year$— $— 
Amounts recognized in consolidated balance sheet:
 20252024
Accumulated postretirement benefit obligation$(1,122)$(1,522)
Fair value of plan assets— — 
Funded status(1,122)(1,522)
Unrecognized prior service cost— — 
Unrecognized net (gain) loss(10)
Net amount recognized in consolidated balance sheet (after ASC 715) (included in
   "Other long-term obligations")
$(1,122)$(1,522)
Accrued postretirement benefit cost (included in "Other long-term obligations")N/AN/A
Components of net periodic benefit cost:
 202520242023
Service cost with interest to end of year$115 $113 $108 
Interest cost71 55 62 
Amortization of (gain) loss(9)(10)
Total net periodic benefit cost$177 $158 $178 
Estimated future employer contributions and benefit payments are as follows:
Year 
2026$36 
202739 
202863 
202980 
2030100 
Years 2031-2035571 
Assumptions to determine benefit obligations:
 20252024
Discount rate4.80 %4.85 %
Assumptions to determine net cost:
 202520242023
Discount rate4.85 %4.15 %4.40 %
Defined Benefit Pension Plans
The Company contributes to one multi-employer defined benefit plan under the terms of a collective-bargaining agreement covering its union-represented employees of the Verona, Missouri facility. The risks of participation in this multi-employer plan are different from single-employer plans in the following aspects: (a) assets contributed to the multi-employer plan by one employer may be used to provide benefits to employees of other participating employers, (b) if a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers, and (c) if the Company was to stop participating in its multi-employer plan, the Company would be required to pay that plan an amount based on the underfunded status of the plan, referred to as the withdrawal liability.
The Company’s participation in this plan for the annual period ended December 31, 2025 is outlined in the table below. The “EIN/Pension Plan Number” column provides the Employee Identification Number (EIN). The zone status is based on information that the Company received from the plan and is certified by the plan’s actuary. Among other factors, plans in the red zone or critical and declining zone are generally less than 65 percent funded, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded. The “FIP/RP Status Pending/Implemented” column indicates plans for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented. The last column lists the expiration date of the collective-bargaining agreement to which the plan is subject. Finally, the period-to-period comparability of the contributions for 2025 and 2024 was affected by a 4.0% increase in the 2025 contribution rate. There have been no other significant changes that affect the comparability of 2025 and 2024 contributions. The Company does not represent more than 5% of the contributions to this pension fund.
Pension
Fund
EIN/Pension
Plan
Number
Pension Plan Protection Act Zone StatusFIP/RP Status
Pending/ Implemented
Contributions of Balchem CorporationSurcharge
Imposed
Expiration Date of Collective-
Bargaining
Agreement
20252024202520242023
Central States,
Southeast and
Southwest Areas
Pension Fund
36-6044243Critical as of 1/1/25Critical as of 1/1/24Implemented$1,096$1,073$1,020No7/12/2029
The Company provides an unfunded defined benefit pension plan for employees working in Belgium. The plan provides for the payment of a lump sum at retirement or payments in case of death of the covered employees.
The actuarial recorded liabilities for such unfunded defined benefit pension plan are as follows:
Change in benefit obligation:
 20252024
Benefit obligation at beginning of year$2,134 $1,660 
Service cost with interest to end of year215 72 
Interest cost81 54 
Benefits paid(206)(42)
Actuarial loss389 488 
Expenses paid(10)— 
Exchange rate changes278 (98)
Benefit obligation at end of year$2,881 $2,134 
Change in plan assets:
 20252024
Fair value of plan assets at beginning of year$1,521 $1,240 
Actual return on plan assets299 216 
Employer contributions209 181 
Benefits paid(206)(42)
Expenses paid(10)— 
Exchange rate changes199 (74)
Fair value of plan assets at end of year$2,012 $1,521 

Amounts recognized in consolidated balance sheet:
 20252024
Benefit obligation$(2,881)$(2,134)
Fair value of plan assets2,012 1,521 
Funded status(869)(613)
Unrecognized prior service costN/AN/A
Unrecognized net (gain)/lossN/AN/A
Net amount recognized in consolidated balance sheet (after ASC 715) (included in other long-term obligations)$(869)$(613)
Accrued postretirement benefit cost (included in other long-term obligations)N/AN/A
Components of net periodic benefit cost:
 202520242023
Service cost with interest to end of year$215 $72 $65 
Interest cost81 54 65 
Expected return on plan assets(59)(40)(42)
Amortization of net loss— — 
Total net periodic benefit cost$241 $86 $88 
Estimated future benefit payments are as follows:
Year 
2026$— 
2027— 
2028— 
202915 
2030384 
Years 2031-20352,086 
Assumptions to determine benefit obligations:
 20252024
Discount rate3.75 %3.35 %
Assumptions to determine net cost:
 202520242023
Discount rate3.35 %3.45 %4.00 %
Expected return on assets3.25 %3.25 %3.25 %
Deferred Compensation Plan
The Company maintains an unfunded, non-qualified deferred compensation plan for the benefit of a select group of management or highly compensated employees. Assets of the plan are held in a rabbi trust, which are subject to additional risk of loss in the event of bankruptcy or insolvency of the Company. The deferred compensation liability was $12,806 as of December 31, 2025, of which $12,781 was included in "Other long-term obligations" and $25 was included in "Accrued compensation and other benefits" on the Company's consolidated balance sheets. The deferred compensation liability was $11,470 as of December 31, 2024, of which $11,449 was included in "Other long-term obligations" and $21 was included in "accrued compensation and other benefits" on the Company’s consolidated balance sheets. The related assets of the irrevocable trust funds (also known as "rabbi trust funds") were $12,798 as of December 31, 2025, of which $12,773 was included in "Other non-current assets" and $25 was included in "Other current assets" on the Company's consolidated balance sheet. The rabbi trust funds were $11,465 as of December 31, 2024 and were included in "Other non-current assets" on the Company's consolidated balance sheets.