v3.26.1
Employee Benefits
6 Months Ended
Jun. 30, 2026
Retirement Benefits [Abstract]  
Employee Benefits Employee Benefits
Defined Benefit Plans
According to French law and the Syntec Collective Agreement, French employees are entitled to compensation paid on retirement, equal to up to twelve months of their salary based on term of employment.
The following table summarizes the changes in the projected benefit obligation:
Projected benefit obligation
(in thousands)
Accumulated postretirement benefit obligation at January 1, 2025
$4,709 
Service cost
785 
Interest cost
200 
Actuarial losses (gains)
(622)
Currency translation adjustment
635 
Accumulated postretirement benefit obligation at December 31, 2025
$5,707 
Service cost
394 
Interest cost
127 
Currency translation adjustment
(185)
Accumulated postretirement benefit obligation at June 30, 2026
$6,043 
The Company does not hold any plan assets for any of the periods presented.
The main assumptions used for the purposes of the actuarial valuations are listed below:
Six Months EndedYear Ended
June 30, 2026December 31, 2025
Discount rate (Corp AA)
4.5%4.5%
Expected rate of salary increase
7.0%7.0%
Expected rate of social charges
50.0%50.0%
Expected staff turnover
Company age-based tableCompany age-based table
Estimated retirement age
65 years old65 years old
Life table
TH-TF 2000-2002 shiftedTH-TF 2000-2002 shifted

Defined Contribution Plans
The Company also provides qualified defined contribution plans primarily in France, the United States, and the United Kingdom. The most significant of these plans is the 401(k) Plan, which covers eligible U.S. employees. Employees can contribute to the plans a specified percentage of their eligible compensation, subject to matching contributions from the Company on behalf of the eligible employee. The following table shows the Company's agreed contributions, reported in the Consolidated Statement of Operations for the period.
Three Months EndedSix Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
(in thousands)
Defined contribution plan expenses
$6,943 $6,725 $11,775 $10,967