Annual report [Section 13 and 15(d), not S-K Item 405]

Employee Retirement Plans (Tables)

v3.25.4
Employee Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Summary of Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan
The vested benefit obligation for a defined-benefit pension or other retirement plan is the actuarial present value of the vested benefits to which the employee is currently entitled based on the employee’s expected date of separation or retirement.
December 31, 2025 December 31, 2024
(in thousands)
Changes in projected benefit obligation:
Projected benefit obligation, beginning of period $ 430  $ 1,383 
Interest cost 15  16 
Actuarial (gain) loss (123) 29 
Benefits paid and settlements (111) (951)
Contributions to plan 566  — 
Currency exchange rate changes 70  (47)
Projected benefit obligation, end of period 847  430 
Changes in fair value of plan assets:
Fair value of plan assets, beginning of period —  — 
Benefits paid and settlements (56) — 
Employer contributions 566  — 
Actuarial (gain) loss 3  — 
Currency exchange rate changes 19  — 
Fair value of plan assets, end of period 532  — 
Net unfunded status $ 315  $ 430 
Amounts recognized in the consolidated balance sheets:
Other long-term liabilities $ 315  $ 430 
Accumulated other comprehensive (income) loss, before tax $ 1,357  $ 1,266 
Summary of Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets
December 31, 2025 December 31, 2024
(in thousands)
Plans with accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation $ 847  $ 430 
Plan assets $ 532  $ — 
Plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation $ 315  $ 430 
Plan assets $ 532  $ — 
Summary of Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets
December 31, 2025 December 31, 2024
(in thousands)
Plans with accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation $ 847  $ 430 
Plan assets $ 532  $ — 
Plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation $ 315  $ 430 
Plan assets $ 532  $ — 
Summary of Defined Benefit Plan, Assumptions
Assumptions for Pension Benefit Plans
December 31, 2025 December 31, 2024
Weighted average actuarial assumptions used to determine benefit obligations:
Discount rate
3.9%
3.3%
Rate of compensation increase
3.8%
3.8%
Weighted average actuarial assumptions used to determine costs:
Discount rate
3.9%
3.3%
Expected long-term rate of return on plan assets —  % —  %
Rate of compensation increase
3.8%
3.8%
Summary of Expected Benefit Payments
At December 31, 2025, the estimated benefit payments over the next five years and beyond are as follows:
Estimated Future Benefit Payments
(in thousands)
2026 $ 75 
2027 75 
2028 75 
2029 60 
2030 60 
Thereafter 120 
$ 466