XML 25 R14.htm IDEA: XBRL DOCUMENT v3.20.2
Pension
6 Months Ended
Jun. 30, 2020
Compensation And Retirement Disclosure [Abstract]  
Pension

7. PENSION

Defined Benefit Plan

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. During 2019, there was a 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 is no further contribution to fund the Dutch Plan since end of 2019.

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

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Service cost

 

$

 

 

$

189

 

 

$

 

 

$

381

 

Interest cost

 

 

168

 

 

 

259

 

 

 

336

 

 

 

519

 

Expected return on plan assets

 

 

(154

)

 

 

(229

)

 

 

(308

)

 

 

(461

)

Amortization of prior service cost

 

 

 

 

 

(25

)

 

 

 

 

 

(50

)

Amortization of actuarial loss

 

 

 

 

 

14

 

 

 

 

 

 

29

 

Net periodic pension cost

 

$

14

 

 

$

208

 

 

$

28

 

 

$

418