Pension Plans

6 Months Ended

Jun. 30, 2023

Retirement Benefits [Abstract]

Pension Plans

Pension Plans

Foreign Defined Benefit Pension Plans

Our subsidiaries in Japan, Korea, Malaysia, the Philippines and Taiwan sponsor defined benefit pension plans. Charges to expense are based upon actuarial analyses. The components of net periodic pension cost for these defined benefit pension plans are as follows:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Service cost	$	3,697	$	5,088	$	7,525	$	10,506
Interest cost	1,558		1,204		3,161		2,462
Expected return on plan assets	(1,278)		(1,428)		(2,589)		(2,921)
Recognized actuarial loss	(105)		13		(203)		26
Net periodic pension cost	$	3,872	$	4,877	$	7,894	$	10,073

The components of net periodic pension cost other than the service cost component are included in other (income) expense, net in our Consolidated Statements of Income.

Defined Contribution Pension Plans

We sponsor defined contribution pension plans in Korea, Malaysia, Taiwan and the U.S. The following table summarizes our defined contribution expense:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Defined contribution expense	$	6,253	$	5,554	$	15,049	$	13,503