v3.26.1
Retirement Plans
6 Months Ended
Jun. 30, 2026
Retirement Plans  
Retirement Plans

Note 8 – Retirement Plans

The Company has contributed $518 and $1,123 to pension benefits in the U.S. during the six months ended June 30, 2026 and June 30, 2025, respectively.

The Company and its subsidiaries have defined contribution and defined benefit plans varying by country and subsidiary.

The Company’s operations in the United States, France, Philippines and Germany historically offered defined benefit retirement plans (“Plan”) to their employees. Most of these benefits have been terminated, resulting in various reductions in liabilities and curtailment gains.

In connection with our adoption of FASB issued ASU No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, the components of net periodic benefit cost other than the service cost component are included in the line item other expense in the income statement.

The following sets forth the components of net periodic benefit cost for the periods indicated:

  ​ ​ ​

U.S. Pension Benefits

Three Months Ended

Three Months Ended

Six Months Ended

Six Months Ended

  ​ ​ ​

June 30, 2026

  ​ ​ ​

June 30, 2025

  ​ ​ ​

June 30, 2026

  ​ ​ ​

June 30, 2025

Component of net period benefit cost

Service cost

$

$

$

$

Interest cost

1,170

1,215

 

2,340

 

2,433

Expected return on plan assets

(1,229)

(1,192)

 

(2,457)

 

(2,383)

Amortization of prior service cost

 

 

Amortization of actuarial loss

6

22

 

12

 

44

$

(53)

$

45

$

(105)

$

94

 Non U.S. Pension Benefits

Three Months Ended

Three Months Ended

Six Months Ended

Six Months Ended

June 30, 2026

  ​ ​ ​

June 30, 2025

  ​ ​ ​

June 30, 2026

  ​ ​ ​

June 30, 2025

Component of net period benefit cost

 

  ​

 

  ​

Service cost

$

95

$

81

$

192

$

162

Interest cost

207

171

 

410

 

342

Expected return on plan assets

(5)

(5)

 

(12)

 

(11)

Amortization of prior service cost

1

 

2

 

Amortization of actuarial loss

(105)

(21)

 

(211)

 

(42)

$

193

$

226

$

381

$

451

Savings Plans

The Company also has defined contribution savings and similar plans for eligible employees, which vary by subsidiary. The Company’s aggregate contributions to these plans are based on eligible employee contributions and certain other factors. The Company expenses for these plans for the six months ended June 30, 2026 and June 30, 2025 were approximately $491 and $412, respectively.