Quarterly report pursuant to Section 13 or 15(d)

Employee Defined Benefit Retirement Plans

v3.22.2
Employee Defined Benefit Retirement Plans
 6 Months Ended
Jun. 30, 2022
Retirement Benefits [Abstract]  
Employee Defined Benefit Retirement Plans Employee Defined Benefit Retirement Plans
Pension and Other Defined Benefit Retirement Obligations
In connection with a 2020 acquisition, the Company assumed an obligation of $7.9 million associated with certain defined benefit retirement plans, including a pension plan. As of June 30, 2022 and December 31, 2021, the defined benefit obligation was $4.3 million and $4.5 million, respectively. The benefit is based on a formula applied to eligible employee earnings.
Net periodic benefit costs were $0.1 million and $0.1 million for the three months ended June 30, 2022 and 2021 and were recorded to research and development expenses in the consolidated statements of income.
Net periodic benefit costs were $0.2 million and $0.2 million for the six months ended June 30, 2022 and 2021 and were recorded to research and development expenses in the consolidated statements of income.