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Pension and Severance Plans (Tables)
 12 Months Ended
Dec. 31, 2018
Defined Benefit Plan [Abstract]  
Schedule Of Accrued Severance Obligation
The changes to the balance of our accrued severance plan obligations are as follows:
 
For the Year Ended December 31,
 
2018
 
2017
 
2016
 
(In thousands)
Balance at January 1
$
153,920

 
$
136,396

 
$
143,151

Provision of severance benefits
1,939

 
11,714

 
6,746

Severance payments
(7,611
)
 
(11,787
)
 
(9,429
)
Foreign currency (gain) loss
(5,950
)
 
17,597

 
(4,072
)
Balance at December 31
142,298

 
153,920

 
136,396

Payments remaining with the National Pension Fund
(172
)
 
(185
)
 
(182
)
Total accrued severance plan obligations at December 31
142,126

 
153,735

 
136,214

Less current portion of accrued severance plan obligations (Note 10)
13,179

 
15,190

 
14,053

Non-current portion of accrued severance plan obligations
$
128,947

 
$
138,545

 
$
122,161
Schedule of Changes in Projected Benefit Obligations and Fair Value of Plan Assets
The following table summarizes the changes to the Plans’ benefit obligations, fair value of the Plans’ assets and the funded status of the Plans at December 31, 2018 and 2017:
 
For the Year Ended December 31,
 
2018
 
2017
 
(In thousands)
Change in projected benefit obligation:
 
 
 
Projected benefit obligation at January 1
$
158,466

 
$
131,416

Service cost
32,913

 
33,823

Interest cost
4,867

 
4,067

Benefits paid
(6,137
)
 
(15,183
)
Actuarial (gain) loss
(5,991
)
 
(1,387
)
Effects of curtailment
—

 
573

Settlement
(5,055
)
 
(2,496
)
Foreign exchange (gain) loss
(3,351
)
 
7,653

Projected benefit obligation at December 31
175,712

 
158,466

Change in plan assets:
 
 
 
Fair value of plan assets at January 1
115,725

 
91,471

Actual gain (loss) on plan assets
(4,210
)
 
8,559

Employer contributions
26,899

 
28,073

Settlement
(5,055
)
 
(2,496
)
Benefits paid
(6,137
)
 
(15,183
)
Foreign exchange gain (loss)
(3,852
)
 
5,301

Fair value of plan assets at December 31
123,370

 
115,725

Funded status of the Plans at December 31
$
(52,342
)
 
$
(42,741
)
Schedule of Amounts Recognized in Balance Sheet
 
December 31,
 
2018
 
2017
 
(In thousands)
Amounts recognized in the Consolidated Balance Sheets consist of:
 
 
 
Prepaid benefit cost (included in non-current assets)
$
2,740

 
$
656

Accrued benefit liability (included in pension and severance obligations)
(55,082
)
 
(43,397
)
Net amount recognized at year end
$
(52,342
)
 
$
(42,741
)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
The following table summarizes, by component, the change in accumulated other comprehensive income (loss), net of tax related to our Plans:
 
Prior Service
Cost
 
Actuarial Net Gain (Loss)
 
Total
 
(In thousands)
Balance at December 31, 2016
$
582

 
$
556

 
$
1,138

Amortization included in net periodic pension cost
21

 
69

 
90

Net gain (loss) arising during period
—

 
5,075

 
5,075

Adjustments to unrealized components of defined benefit pension plan included in other comprehensive income (loss)
21

 
5,144

 
5,165

Balance at December 31, 2017
603

 
5,700

 
6,303

Amortization and settlement gain included in net periodic pension cost
(1
)
 
(1,735
)
 
(1,736
)
Net gain (loss) arising during period
—

 
(1,908
)
 
(1,908
)
Adjustments to unrealized components of defined benefit pension plan included in other comprehensive income (loss)
(1
)
 
(3,643
)
 
(3,644
)
Balance at December 31, 2018
$
602

 
$
2,057

 
$
2,659

Estimated amortization of cost to be included in 2019 net periodic pension cost
$
—

 
$
(374
)
 
$
(374
)
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
Information for pension plans with benefit obligations in excess of plan assets is as follows:
 
December 31,
 
2018
 
2017
 
(In thousands)
Plans with underfunded or non-funded projected benefit obligation:
 
 
 
Aggregate projected benefit obligation
$
135,967

 
$
119,708

Aggregate fair value of plan assets
80,885

 
76,313

Plans with underfunded or non-funded accumulated benefit obligation:
 
 
 
Aggregate accumulated benefit obligation
63,274

 
53,720

Aggregate fair value of plan assets
20,094

 
18,970
Components of net periodic pension cost
The following table summarizes total pension expense:
 
For the Year Ended December 31,
 
2018
 
2017
 
2016
 
(In thousands)
Components of net periodic pension cost and total pension expense:
 
 
 
 
 
Service cost
$
32,913

 
$
33,823

 
$
33,854

Interest cost
4,867

 
4,067

 
3,641

Expected return on plan assets
(5,640
)
 
(4,537
)
 
(3,788
)
Amortization of prior service cost
6

 
30

 
35

Recognized actuarial (gain) loss
(147
)
 
84

 
94

Net periodic pension cost
31,999

 
33,467

 
33,836

Curtailment loss
—

 
574

 
—

Settlement (gain) loss
(1,639
)
 
383

 
128

Total pension expense
$
30,360

 
$
34,424

 
$
33,964
Schedule of Assumptions Used
The following table summarizes the weighted-average assumptions used in computing the net periodic pension cost and projected benefit obligations:
 
For the Year Ended December 31,
 
2018
 
2017
 
2016
Discount rate for determining net periodic pension cost
3.2
%
 
3.1
%
 
3.3
%
Discount rate for determining benefit obligations at December 31
3.1
%
 
3.2
%
 
3.1
%
Rate of compensation increase for determining net periodic
pension cost
3.8
%
 
3.8
%
 
3.9
%
Rate of compensation increase for determining benefit obligations
at December 31
3.6
%
 
3.8
%
 
3.8
%
Expected rate of return on plan assets for determining net periodic
pension cost
4.9
%
 
4.9
%
 
5.0
%
Schedule of Allocation of Plan Assets
The current rate of return assumption targets are based on asset allocation strategies as follows:
 
Allocation
 
Debt
 
Equity
 
Other
Japan defined benefit plan
60
%
 
37
%
 
3
%
Korea defined benefit plan
40
%
 
50
%
 
10
%
Philippine defined benefit plan
33
%
 
63
%
 
4
%



The fair value of our pension plan assets, by asset category utilizing the fair value hierarchy as discussed in Note 14, is as follows:
 
December 31,
 
2018
 
2017
 
(In thousands)
Cash and cash equivalents (Level 1)
$
6,640

 
$
1,098

Equity securities
 
 
 
U.S. securities (Level 1)
15,069

 
16,854

Foreign securities (Level 1)
10,162

 
16,826

Foreign mutual funds (Level 1)
25,236

 
22,193

 
50,467

 
55,873

Debt securities
 
 
 
U.S. government bonds (Level 1)
—

 
2,188

U.S. government bonds (Level 2)
1,039

 
830

U.S. corporate bonds (Level 1)
—

 
2,144

U.S. corporate bonds (Level 2)
29

 
5

Foreign government bonds (Level 1)
4,427

 
5,211

Foreign government bonds (Level 2)
9,545

 
6,270

Foreign corporate bonds (Level 1)
5,713

 
520

Foreign corporate bonds (Level 2)
1,951

 
3,058

Foreign treasury notes (Level 1)
2,587

 
4,686

Foreign mutual funds (Level 1)
11,188

 
8,787

 
36,479

 
33,699

Foreign guaranteed investment contracts (Level 2)
18,120

 
14,138

Taiwan retirement fund (Level 1)
10,451

 
10,094

Other (Level 1)
680

 
584

Other (Level 2)
533

 
239

Total fair value of pension plan assets
$
123,370

 
$
115,725
Schedule of Expected Benefit Payments
The estimated future benefit payments related to our foreign defined benefit plans are as follows:
 
Payments
 
(In thousands)
2019
$
7,922

2020
10,369

2021
12,229

2022
14,979

2023
16,341

2024 to 2028
129,703