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Employee Benefits (Tables)
6 Months Ended
Jun. 30, 2022
Retirement Benefits [Abstract]  
Schedule of Accumulated and Projected Benefit Obligations
The following table summarizes the changes in the projected benefit obligation:
Projected benefit obligation
(in thousands)
Projected benefit obligation present value at January 1, 2021
$6,167 
Service cost
1,324 
 Interest cost
51 
Actuarial losses (gains)
(1,543)
Currency translation adjustment
(468)
Projected benefit obligation present value at December 31, 2021
$5,531 
Service cost
539 
 Interest cost
37 
Actuarial losses (gains)
(2,535)
Currency translation adjustment
(359)
Projected benefit obligation present value at June 30, 2022
$3,213 
Schedule of Assumptions Used for Actuarial Valuations
The main assumptions used for the purposes of the actuarial valuations are listed below:
Six Months EndedYear ended
June 30, 2022December 31, 2021
Discount rate (Corp AA)
3.75%
1.40%
Expected rate of salary increase
5%
5%
Expected rate of social charges
49% - 50%
49% - 50%
Expected staff turnover
—% - 17.8%
—% - 17.8%
Estimated retirement age
Progressive tableProgressive table
Life table
TH-TF 2000-2002 shiftedTH-TF 2000-2002 shifted
Schedule of Defined Contribution Plan
Three Months EndedSix Months Ended
June 30,
2022
June 30,
2021
June 30,
2022
June 30,
2021
(in thousands)
Defined contributions plans included in personnel expenses
$(6,278)$(3,447)$(10,136)$(9,000)