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Pension
3 Months Ended
Mar. 31, 2022
Retirement Benefits [Abstract]  
Pension

8. PENSION

Prior to January 2020, we provided a noncontributory defined benefit pension plan covering substantially all of our Dutch employees ("Dutch Plan") who were hired prior to 2000. There was curtailment of the Dutch Plan for our Dutch employees whose pension benefit was based on years of service and final pay or career average pay, depending on when the employee began participating. These employees have been moved into the Dutch defined contribution plan. However, the unconditional indexation for this group of participants continues for so long as they remain in active service with the Company. There have been no further contributions to fund the Dutch Plan since December 31, 2019.

The following table summarizes the components of net periodic pension cost under the Dutch Plan (in thousands):

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2022

 

 

2021

 

Interest cost

 

$

154

 

 

$

82

 

Expected return on plan assets

 

 

(145

)

 

 

(78

)

Net periodic pension cost

 

$

9

 

 

$

4