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EMPLOYEE BENEFIT PLANS
 12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PLANS EMPLOYEE BENEFIT PLANS
Defined Contribution Plans
The Company sponsored two 401(k) savings plans for eligible employees, which were merged into one plan on January 1, 2021. The remaining plan allows participants to make pretax contributions and the Company matches certain percentages of those pretax contributions. The remaining 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. On June 21, 2022, the Company completed the acquisition of Kappa, which sponsors one defined contribution plan for its employees. In addition, on August 30, 2022, the Company completed the acquisition of Bergstrom, which sponsors one defined contribution plan for its employees. The plan allows participants to make pretax and after tax contributions. Bergstrom matches certain percentages of those contributions.The Company provided for profit sharing contributions and matching 401(k) savings plan contributions of $1,151 and $4,363 in 2022, $1,459 and $4,142 in 2021, and $1,022 and $3,751 in 2020, 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 those named as executive officers in the Company’s proxy statement. 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 over funded or underfunded status of a defined benefit post retirement plan (other than a multiemployer 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:
 20222021
Benefit obligation at beginning of year$1,293 $1,374 
Service cost with interest to end of year79 87 
Interest cost26 23 
Participant contributions27 28 
Benefits paid(69)(426)
Actuarial loss109 207 
Benefit obligation at end of year$1,465 $1,293 
Change in plan assets:
 20222021
Fair value of plan assets at beginning of year$— $— 
Employer contributions42 398 
Participant contributions27 28 
Benefits paid(69)(426)
Fair value of plan assets at end of year$— $— 

Amounts recognized in consolidated balance sheet:
 20222021
Accumulated postretirement benefit obligation$(1,465)$(1,293)
Fair value of plan assets— — 
Funded status(1,465)(1,293)
Unrecognized prior service cost74 74 
Unrecognized net gain(24)(50)
Net amount recognized in consolidated balance sheet (after ASC 715) (included in other long-term obligations)$(1,465)$(1,293)
Accrued postretirement benefit cost (included in other long-term obligations)N/AN/A
Components of net periodic benefit cost:
 202220212020
Service cost with interest to end of year$79 $87 $68 
Interest cost26 23 26 
Amortization of prior service cost9 74 74 
Amortization of gain(2)(24)(50)
Total net periodic benefit cost$112 $160 $118 
Estimated future employer contributions and benefit payments are as follows:
Year 
2023$118 
2024151 
2025149 
2026113 
2027115 
Years 2028-2032622 
Assumptions to determine benefit obligations:
 20222021
Discount rate4.40 %2.10 %
Assumptions to determine net cost:
 202220212020
Discount rate2.10 %1.75 %2.50 %
Defined Benefit Pension Plans
The Company contributes to one multiemployer 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 multiemployer plan are different from single-employer plans in the following aspects: (a) assets contributed to the multiemployer 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 multiemployer 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, 2022 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 2022 and 2021 was affected by a 4.0% increase in the 2022 contribution rate. There have been no other significant changes that affect the comparability of 2022 and 2021 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
20222021202220212020
Central States,
Southeast and
Southwest Areas
Pension Fund		36-6044243Critical & Declining as of 1/1/22Critical & Declining as of 1/1/21Implemented$939$816$774No7/12/2025

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:
 20222021
Benefit obligation at beginning of year$1,859 $2,053 
Service cost with interest to end of year44 67 
Interest cost17 14 
Participant contributions27 24 
Benefits paid(60)(18)
Actuarial gain(194)(127)
Exchange rate changes(104)(154)
Benefit obligation at end of year$1,589 $1,859 
Change in plan assets:
 20222021
Fair value of plan assets at beginning of year$1,175 $1,103 
Actual return on plan assets26 76 
Employer contributions94 73 
Participant contributions27 24 
Benefits paid(60)(18)
Exchange rate changes(66)(83)
Fair value of plan assets at end of year$1,196 $1,175 
Amounts recognized in consolidated balance sheet:
 20222021
Benefit obligation$(1,589)$(1,859)
Fair value of plan assets1,196 1,175 
Funded status(393)(684)
Unrecognized prior service costN/AN/A
Unrecognized net (gain)/lossN/AN/A
Net amount recognized in consolidated balance sheet (after ASC 715) (included in other long-term obligations)$(393)$(684)
Accrued postretirement benefit cost (included in other long-term obligations)N/AN/A
Components of net periodic benefit cost:
 202220212020
Service cost with interest to end of year$44 $67 $104 
Interest cost17 14 20 
Expected return on plan assets(37)(34)(14)
Amortization of prior service cost— — — 
Amortization of net loss— 3 — 
Total net periodic benefit cost$24 $50 $110 
Estimated future benefit payments are as follows:
Year 
2023$1 
2024— 
2025— 
2026— 
2027— 
Years 2028-203224 
Assumptions to determine benefit obligations:
 20222021
Discount rate4.00 %1.00 %
Assumptions to determine net cost:
 202220212020
Discount rate1.00 %0.75 %1.00 %
Expected return on assets3.25 %3.25 %1.00 %
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 as of December 31, 2022 and 2021 was $8,543 and $6,270, respectively, and was included in other long-term obligations on the Company's balance sheet. The related rabbi trust assets were $8,547 and $6,267 as of December 31, 2022 and 2021, respectively, and were included in other non-current assets on the Company's consolidated balance sheets.