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Postretirement Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2025
Defined Benefit Plan Disclosure [Line Items]  
Obligations and Funded Status

Obligations and Funded Status at December 31

 

 

 

United States

 

 

United Kingdom

 

(In thousands)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Change in benefit obligation

 

 

 

 

 

 

 

 

 

 

 

 

Benefit obligation at beginning of year

 

$

126,335

 

 

$

131,783

 

 

$

12,400

 

 

$

13,750

 

Interest cost

 

 

6,800

 

 

 

6,605

 

 

 

700

 

 

 

647

 

Actuarial (income) loss

 

 

1,332

 

 

 

(2,251

)

 

 

(170

)

 

 

(1,071

)

Benefits paid

 

 

(9,798

)

 

 

(9,802

)

 

 

(755

)

 

 

(714

)

Foreign exchange impact

 

 

 

 

 

 

 

 

947

 

 

 

(212

)

Benefit obligation at end of year

 

$

124,669

 

 

$

126,335

 

 

$

13,122

 

 

$

12,400

 

 

 

United States

 

 

United Kingdom

 

(In thousands)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Change in plan assets

 

 

 

 

 

 

 

 

 

 

 

 

Fair value of plan assets at beginning of year

 

$

126,888

 

 

$

137,985

 

 

$

14,175

 

 

$

16,091

 

Actual return on plan assets

 

 

7,956

 

 

 

(1,520

)

 

 

763

 

 

 

(961

)

Employer contributions

 

 

170

 

 

 

225

 

 

 

 

 

 

 

Benefits paid

 

 

(9,798

)

 

 

(9,802

)

 

 

(755

)

 

 

(714

)

Foreign exchange impact

 

 

 

 

 

 

 

 

1,089

 

 

 

(241

)

Fair value of plan assets at end of year

 

$

125,216

 

 

$

126,888

 

 

$

15,272

 

 

$

14,175

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Over funded status at end of year

 

$

547

 

 

$

553

 

 

$

2,150

 

 

$

1,775

 

Schedule of Amounts Recognized in Balance Sheets

The amounts recognized in the consolidated balance sheets at December 31 consisted of:

 

 

 

United States

 

 

United Kingdom

 

(In thousands)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Non-current assets

 

$

1,945

 

 

$

5,924

 

 

$

2,150

 

 

$

1,775

 

Current liability

 

 

(145

)

 

 

(167

)

 

 

 

 

 

 

Non-current liability

 

 

(1,253

)

 

 

(5,204

)

 

 

 

 

 

 

Net amount recognized

 

$

547

 

 

$

553

 

 

$

2,150

 

 

$

1,775

 

Amounts Recognized in Accumulated Other Comprehensive Income

The amounts recognized in accumulated other comprehensive income at December 31 consisted of:

 

 

 

United States

 

 

United Kingdom

 

(In thousands)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Net actuarial loss

 

$

29,976

 

 

$

28,515

 

 

$

5,778

 

 

$

6,283

 

Information for Pension Plans with Projected Benefit Obligations in Excess of Plan Assets

Below is information for pension plan with projected benefit obligations in excess of plan assets at December 31, 2025 and December 31, 2024.

 

 

 

United States

 

(In thousands)

 

2025

 

 

2024

 

Projected benefit obligation

 

$

 

 

$

101,379

 

Accumulated benefit obligation

 

$

 

 

 

101,379

 

Fair value of plan assets

 

$

 

 

 

97,595

 

 

Components of Net Periodic Benefit Cost

Net periodic benefit costs for the years ended December 31, 2025, 2024 and 2023, were as follows:

 

 

 

United States

 

 

United Kingdom

 

(In thousands)

 

2025

 

 

2024

 

 

2023

 

 

2025

 

 

2024

 

 

2023

 

Interest cost

 

$

6,800

 

 

$

6,605

 

 

$

6,949

 

 

$

700

 

 

$

647

 

 

$

669

 

Expected return on plan assets

 

 

(8,009

)

 

 

(8,479

)

 

 

(8,533

)

 

 

(811

)

 

 

(735

)

 

 

(695

)

Amortization of net actuarial (gain) loss

 

 

(76

)

 

 

(12

)

 

 

(23

)

 

 

383

 

 

 

324

 

 

 

334

 

Net periodic benefit cost

 

$

(1,285

)

 

$

(1,886

)

 

$

(1,607

)

 

$

272

 

 

$

236

 

 

$

308

 

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income

Other changes in plan assets and benefit obligations recognized in other comprehensive income for the years ended December 31, 2025, 2024 and 2023, were as follows:

 

 

United States

 

 

United Kingdom

 

(In thousands)

 

2025

 

 

2024

 

 

2023

 

 

2025

 

 

2024

 

 

2023

 

Net actuarial (gain) loss

 

$

1,385

 

 

$

7,748

 

 

$

1,930

 

 

$

(122

)

 

$

618

 

 

$

135

 

Amortization of net actuarial gain (loss)

 

 

76

 

 

 

12

 

 

 

23

 

 

 

(383

)

 

 

(324

)

 

 

(334

)

Total recognized in other comprehensive
   income

 

$

1,461

 

 

$

7,760

 

 

$

1,953

 

 

$

(505

)

 

$

294

 

 

$

(199

)

Total recognized in net periodic benefit
   cost and other comprehensive income

 

$

176

 

 

$

5,874

 

 

$

346

 

 

$

(233

)

 

$

530

 

 

$

109

 

Estimated Future Benefit Payments

Estimated Future Benefit Payments

 

(In thousands)

 

United
States

 

 

United
Kingdom

 

2026

 

$

10,020

 

 

$

710

 

2027

 

 

10,089

 

 

 

738

 

2028

 

 

10,137

 

 

 

776

 

2029

 

 

10,169

 

 

 

798

 

2030

 

 

10,169

 

 

 

826

 

2031-2035

 

 

48,930

 

 

 

4,719

 

Defined Contribution Expenses for Company's Qualified Defined Contribution Plans and Statutory Profit Sharing Contributions

Defined contribution expenses for the Company’s qualified defined contribution plans and statutory profit sharing contributions were as follows:

(In thousands)

 

2025

 

 

2024

 

 

2023

 

Retirement contributions

 

$

9,014

 

 

$

8,633

 

 

$

8,930

 

Profit sharing contributions

 

 

2,426

 

 

 

1,720

 

 

 

2,019

 

Total

 

$

11,440

 

 

$

10,353

 

 

$

10,949

 

United States [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Company's Asset Allocations for its U.S. and U.K Pension Plans

The Company’s asset allocations for its U.S. pension plans at December 31, 2025 and 2024, by asset category, were as follows:

 

 

 

December 31, 2025

 

(In thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Cash and Cash Equivalents

 

$

12,735

 

 

$

 

 

$

 

 

$

12,735

 

Equity Securities

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Equities

 

 

16,256

 

 

 

 

 

 

 

 

 

16,256

 

Non-U.S. Equities

 

 

 

 

 

 

 

 

 

 

 

 

Employer Securities

 

 

4,274

 

 

 

 

 

 

 

 

 

4,274

 

Total Equities

 

 

20,530

 

 

 

 

 

 

 

 

 

20,530

 

Fixed Income Securities

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Corporate Bonds

 

 

 

 

 

62,029

 

 

 

 

 

 

62,029

 

U.S. Government and Agency Bonds

 

 

23,975

 

 

 

938

 

 

 

 

 

 

24,913

 

Other Bonds

 

 

 

 

 

5,009

 

 

 

 

 

 

5,009

 

Total Fixed Income

 

 

23,975

 

 

 

67,976

 

 

 

 

 

 

91,951

 

Total

 

$

57,240

 

 

$

67,976

 

 

$

 

 

$

125,216

 

 

 

 

December 31, 2024

 

(In thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Cash and Cash Equivalents

 

$

8,416

 

 

$

 

 

$

 

 

$

8,416

 

Equity Securities

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Equities

 

 

16,010

 

 

 

 

 

 

 

 

 

16,010

 

Non-U.S. Equities

 

 

 

 

 

 

 

 

 

 

 

 

Employer Securities

 

 

7,493

 

 

 

 

 

 

 

 

 

7,493

 

Total Equities

 

 

23,503

 

 

 

 

 

 

 

 

 

23,503

 

Fixed Income Securities

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Corporate Bonds

 

 

 

 

 

46,114

 

 

 

 

 

 

46,114

 

U.S. Government and Agency Bonds

 

 

38,789

 

 

 

3,218

 

 

 

 

 

 

42,007

 

Other Bonds

 

 

 

 

 

6,848

 

 

 

 

 

 

6,848

 

Total Fixed Income

 

 

38,789

 

 

 

56,180

 

 

 

 

 

 

94,969

 

Total

 

$

70,708

 

 

$

56,180

 

 

$

 

 

$

126,888

 

United Kingdom [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Company's Asset Allocations for its U.S. and U.K Pension Plans

The Company’s asset allocations for its U.K. pension plans at December 31, 2025 and 2024, by asset category, were as follows:

 

 

 

December 31, 2025

 

(In thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Cash

 

 

 

 

$

1,145

 

 

$

 

 

$

1,145

 

Equity Securities

 

 

 

 

 

 

 

 

 

 

 

 

Pooled Pension Funds

 

 

 

 

 

1,958

 

 

 

 

 

 

1,958

 

Fixed Income

 

 

 

 

 

 

 

 

 

 

 

 

Pooled Pension Funds

 

 

 

 

 

11,505

 

 

 

 

 

 

11,505

 

Real Estate

 

 

 

 

 

 

 

 

 

 

 

 

Pooled Pension Funds

 

 

 

 

 

82

 

 

 

 

 

 

82

 

Insurance Contracts

 

 

 

 

 

 

 

 

582

 

 

 

582

 

Total

 

$

 

 

$

14,690

 

 

$

582

 

 

$

15,272

 

 

 

 

December 31, 2024

 

(In thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Cash

 

 

 

 

$

941

 

 

$

 

 

$

941

 

Equity Securities

 

 

 

 

 

 

 

 

 

 

 

 

Pooled Pension Funds

 

 

 

 

 

1,691

 

 

 

 

 

 

1,691

 

Fixed Income

 

 

 

 

 

 

 

 

 

 

 

 

Pooled Pension Funds

 

 

 

 

 

10,825

 

 

 

 

 

 

10,825

 

Real Estate

 

 

 

 

 

 

 

 

 

 

 

 

Pooled Pension Funds

 

 

 

 

 

85

 

 

 

 

 

 

85

 

Insurance Contracts

 

 

 

 

 

 

 

 

633

 

 

 

633

 

Total

 

$

 

 

$

13,542

 

 

$

633

 

 

$

14,175

 

Fair Value Changes within Asset Categories for which Fair Value Measurements Use Significant Unobservable Inputs (Level 3) Defined Benefit United States Plans and United Kingdom Plans

Fair value changes within asset categories for which fair value measurements use significant unobservable inputs (Level 3) were as follows during 2025 and 2024:

 

(In thousands)

 

Insurance Contracts

 

Fair value, December 31, 2023

 

$

760

 

Sale proceeds (benefit payments)

 

 

(129

)

Change in unrealized gain

 

 

13

 

Foreign exchange impact

 

 

(11

)

Fair value, December 31, 2024

 

$

633

 

Sale proceeds (benefit payments)

 

 

(137

)

Change in unrealized gain

 

 

40

 

Foreign exchange impact

 

 

46

 

Fair value, December 31, 2025

 

$

582

 

Defined Benefit Plan Periodic Costs [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Weighted-Average Assumptions Used to Determine Benefit Obligations/Net Periodic Benefit Costs

The weighted-average assumptions used to determine net periodic benefit costs for years ended December 31 were as follows:

 

 

 

United States

 

 

United Kingdom

 

 

 

2025

 

 

2024

 

 

2023

 

 

2025

 

 

2024

 

 

2023

 

Discount rate

 

 

5.50

%

 

 

5.20

%

 

 

5.50

%

 

 

5.50

%

 

 

4.80

%

 

 

5.00

%

Expected long-term return on plan assets

 

 

5.50

%

 

 

5.50

%

 

 

5.50

%

 

 

5.55

%

 

 

4.64

%

 

 

4.47

%

Benefit Obligation [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Weighted-Average Assumptions Used to Determine Benefit Obligations/Net Periodic Benefit Costs

The weighted-average assumptions used to determine benefit obligations at December 31 were as follows:

 

 

 

United States

 

 

United Kingdom

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Discount rate

 

 

5.60

%

 

 

5.60

%

 

 

5.60

%

 

 

5.50

%