XML 88 R73.htm IDEA: XBRL DOCUMENT v3.22.0.1
Employee Benefit Plans - Additional Information (Details)
£ in Millions
12 Months Ended
Dec. 31, 2021
USD ($)
$ / £
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2021
GBP (£)
$ / £
Mar. 31, 2019
USD ($)
$ / £
Mar. 31, 2019
GBP (£)
$ / £
Defined Benefit Plan Disclosure [Line Items]            
GBP:USD exchange rate | $ / £ 1     1 1 1
Underfunded pension and postretirement obligation, noncurrent $ 11,700,000          
Accumulated comprehensive loss defined benefit plan 40,600,000 $ 48,418,000        
Defined benefit plan recognized gain loss increase(decrease) 11,000,000.0          
Other comprehensive income (loss), pension and other postretirement benefit plans, net unamortized gain (loss) arising during period, before tax $ 3,000,000.0          
Defined benefit plan amortization of net gains losses average term 8 years 6 months          
Defined benefit plan, estimated future employer contributions in current fiscal year, description The trustees are required to review the funding position every three years. An actuarial valuation was performed as of March 31, 2019, resulting in a deficit of approximately GBP 26.7 million (approximately $34.7 million based on a GBP: USD exchange rate of 1:1.3). As a result of this valuation we have agreed to a revised schedule of contributions of GBP 2.0 million (approximately $2.6 million based on a GBP: USD exchange rate of 1:1.3 ) to be paid in annual installments with effect from April 1, 2020 to address the deficit revealed by the valuation (with the first payment made by March 31, 2021, and payments to be made by December 31 each year thereafter). These contributions, together with the assumed asset outperformance, are expected to eliminate the deficit by December 31, 2028. Further, we will pay GBP 0.2 million in annual installments effective April 1, 2020 to cover expenses.          
Defined benefit plan, annual future benefit payments $ 2,600,000     £ 2.0    
Unfunded liability of defined benefit plan, deficit         $ 34,700,000 £ 26.7
Defined benefit plan, additional annual future benefit payments | £       £ 0.2    
Defined benefit plan, plan assets, expected long-term rate-of-return above liability benchmark 2.60%          
Defined benefit plan, plan assets, expected long-term rate-of-return, description The overall strategy is designed to return a long-term return of 2.6% p.a. above the liability benchmark which is broadly equal to changes in the plan’s liabilities.          
Defined contribution plan, cost recognized $ 21,700,000 10,200,000 $ 16,300,000      
Deferred compensation plan assets $ 15,483,000 12,829,000        
Deferred Compensation Plan            
Defined Benefit Plan Disclosure [Line Items]            
Deferred compensation arrangements, overall, description We maintain a Non-Qualified Deferred Compensation Plan (the “Deferred Compensation Plan”) for executive officers, key employees and members of the Board of Directors. The Deferred Compensation Plan allows eligible participants to defer the receipt of eligible compensation, including equity awards, until designated future dates. We offset our obligations under the Deferred Compensation Plan primarily by investing in the actual underlying investments. At December 31, 2021 and December 31, 2020, these investments totaled approximately $15.5 million and $12.8 million, respectively.          
Deferred compensation plan assets $ 15,500,000 12,800,000        
LSC Defined Benefit Plan for Certain LSC Employees            
Defined Benefit Plan Disclosure [Line Items]            
Net liability   4,700,000        
Defined Benefit Plans Asia            
Defined Benefit Plan Disclosure [Line Items]            
Net liability $ 6,300,000 $ 6,200,000        
Growth Assets            
Defined Benefit Plan Disclosure [Line Items]            
Defined benefit plan, target allocation percentage of assets 65.00%     65.00%    
Hedging assets            
Defined Benefit Plan Disclosure [Line Items]            
Defined benefit plan, target allocation percentage of assets 35.00%     35.00%    
TAIWAN, PROVINCE OF CHINA            
Defined Benefit Plan Disclosure [Line Items]            
Employer matching contribution percentage 6.00%          
Description of defined contribution pension and other postretirement plans Pursuant to the Taiwan Labor Standard Law and Factory Law, we maintain a retirement plan for the employees in Taiwan, whereby we make contributions at a rate of 6% of the employee’s eligible payroll.          
China            
Defined Benefit Plan Disclosure [Line Items]            
Description of defined contribution pension and other postretirement plans As stipulated by the regulations of China, we maintain a retirement plan pursuant to the local municipal government for the employees in China. We are required to make contributions to the retirement plan at a rate between 10% and 22% of the employee’s eligible payroll.          
China | Maximum            
Defined Benefit Plan Disclosure [Line Items]            
Employer matching contribution percentage 22.00%          
China | Minimum            
Defined Benefit Plan Disclosure [Line Items]            
Employer matching contribution percentage 10.00%          
United States            
Defined Benefit Plan Disclosure [Line Items]            
Employee salary deferral contributions percentage 100.00%          
Employer matching contribution amount of match $ 1          
Defined contribution plan employee matching contribution amount $ 2          
Defined contribution plan vesting period 4 years          
Description of defined contribution pension and other postretirement plans We maintain a 401(k) retirement plan (the “Plan”) for the benefit of qualified employees at our U.S. locations. Employees who participate may elect to make salary deferral contributions to the Plan up to 100% of the employees’ eligible payroll subject to annual Internal Revenue Code maximum limitations. We currently make a matching contribution of $1 for every $2 contributed by the participant up to 6% (3% maximum matching) of the participant’s eligible payroll, which vests over an initial four years. In addition, we may make a discretionary contribution to the entire qualified employee pool, in accordance with the Plan.          
United States | Maximum            
Defined Benefit Plan Disclosure [Line Items]            
Employer matching contribution percentage 6.00%          
Employer matching contribution percent of match 3.00%          
Pension Plan, Defined Benefit            
Defined Benefit Plan Disclosure [Line Items]            
Defined benefit plans, general information In connection with the Zetex acquisition, we adopted a contributory defined benefit plan that covers certain employees in the U.K. The defined benefit plan is closed to new entrants and frozen with respect to future benefit accruals. The retirement benefit is based on the final average compensation and service of each eligible employee. We determined the fair value of the defined benefit plan assets and utilize an annual measurement date of December 31. At subsequent measurement dates, defined benefit plan assets will be determined based on fair value. Defined benefit plan assets consist of a diverse range of listed and unlisted securities including corporate bonds and mutual funds and are denominated in the currency in which the benefits will be paid and that have terms to maturity approximating the terms of the related pension liability. The net pension and supplemental retirement benefit obligations and the related periodic costs are based on, among other things, assumptions of the discount rate, estimated return on plan assets and mortality rates. These obligations and related periodic costs are measured using actuarial techniques and assumptions.          
Defined benefit plan, pension, method to determine vested benefit obligation The projected unit credit method is the actuarial cost method used to compute the pension liabilities and related expenses.          
Pension Plan, Defined Benefit | UK            
Defined Benefit Plan Disclosure [Line Items]            
Accumulated comprehensive loss defined benefit plan $ 39,400,000