v3.26.1
Accrued Severance Benefits (Tables)
 6 Months Ended
Jun. 30, 2026
Postemployment Benefits [Abstract]  
Changes in Accrued Severance Benefits

Changes in accrued severance benefits are as follows (in thousands):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30, 2026

 

 

June 30, 2025

 

Beginning balance

 

$

36,094

 

 

$

37,060

 

 

$

46,886

 

 

$

45,594

 

Provisions

 

 

1,126

 

 

 

2,338

 

 

 

661

 

 

 

2,175

 

Severance payments

 

 

(461

)

 

 

(689

)

 

 

(9,518

)

 

 

(9,843

)

Translation adjustments

 

 

(670

)

 

 

(2,620

)

 

 

3,552

 

 

 

3,655

 

 

 

36,089

 

 

 

36,089

 

 

 

41,581

 

 

 

41,581

 

Less: Cumulative contributions
   to severance insurance
   deposit accounts

 

 

(24,166

)

 

 

(24,166

)

 

 

(27,313

)

 

 

(27,313

)

The National Pension Fund

 

 

(15

)

 

 

(15

)

 

 

(20

)

 

 

(20

)

Accrued severance benefits, net

 

$

11,908

 

 

$

11,908

 

 

$

14,248

 

 

$

14,248

 
Future Benefits Payments to Employees

The Company is liable to pay the following future benefits to its non-executive employees upon their normal retirement age (in thousands):

 

 

Severance
benefit

 

2027

 

$

365

 

2028

 

$

—

 

2029

 

$

1,529

 

2030

 

$

2,082

 

2031

 

$

2,998

 

2032 – 2037

 

$

16,012