Pension obligations (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets

The movements in the projected benefit obligation and plan assets for the years ended December 31, 2023 and 2022 are as follows:

(in thousands)	2023		2022
Projected benefit obligation:
January 1,	$	(12,685)	$	(15,279)
Current service cost	(736)		(1,234)
Interest cost	(254)		(53)
Actuarial losses (gains)	(1,445)		3,947
Benefit payments	99		(7)
Employer contributions	(421)		(466)
Settlement and curtailment	5,482		—
Plan amendment	33		179
Currency exchange difference	(1,174)		228
December 31,	$	(11,101)	$	(12,685)
Fair value of plan assets:
January 1,	$	12,640	$	11,267
Actual return on plan assets	58		111
Employer contributions	700		968
Employee contributions	421		466
Benefit payments	(100)		6
Settlement	(5,201)		—
Currency exchange difference	1,391		(178)
December 31,	$	9,909	$	12,640
Defined benefit pension liability	$	(1,192)	$	(45)

Schedule of Net Benefit Costs

The net periodic benefit cost for the years ended December 31, 2023 and 2022 is as follows:

(in thousands)	2023		2022
Net periodic benefit cost:
Service cost	$	(736)	$	(1,234)
Interest cost	(254)		(53)
Expected return on plan assets	298		166
Amortization of prior service cost	160		133
Amortization of actuarial losses	—		(179)
Amortization due to settlement and benefit payments	79		—
Amortization of prior service cost due to reduction in service years	244		—
Net periodic benefit cost	$	(209)	$	(1,167)

Schedule of Actuarial Assumptions

The principal actuarial assumptions used for accounting purposes are as follows for all periods presented:

	2023		2022
Discount rate	1.45	%	2.30	%
Interest credited on savings accounts	1.45	%	2.30	%
Future salary increases	1.50	%	1.50	%
Future pension increases	0.00	%	0.00	%
Expected rate of return	2.56	%	2.56	%

Schedule of Expected Benefit Payments

Estimated benefit payments for the next ten years are as follows:

(in thousands)
2024	$	379
2025	386
2026	397
2027	431
2028	462
2029-2033	2,822
Total expected benefit payments	$	4,877

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)

The movements in “Other comprehensive (loss) income” are as follows:

(in thousands)	2023		2022
January 1,	$	2,179	$	(1,937)
Net losses (gains)	(1,483)		4,070
Prior service (cost) credit	(371)		46
Remeasurement	(1,854)		4,116
December 31,	$	325	$	2,179