Employee Defined Benefit Retirement Plans
|9 Months Ended|
Sep. 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 September 30, 2022 and December 31, 2021, the defined benefit obligation was $4.0 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 September 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 $0.3 million for the nine months ended September 30, 2022 and 2021 and were recorded to research and development expenses in the consolidated statements of income.
The entire disclosure for retirement benefits.
Reference 1: http://www.xbrl.org/2003/role/exampleRef