EMPLOYEE BENEFIT PLANS

3 Months Ended

Mar. 31, 2020

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

We have a defined benefit pension plan covering certain United Kingdom employees (the “U.K. Plan”). Net periodic pension credit includes the following components (in thousands):

	Three Months Ended March 31,
	2020			2019
	(unaudited)			(unaudited)
Interest cost	441			593
Expected return on plan assets	(578		)	(607		)
Amortization of prior service cost	8			8
Net periodic pension credit	$	(129	)	$	(6	)

The expected long-term rate of return on invested assets is determined based on the weighted average of expected returns on asset investment categories for the U.K. Plan as follows: 2.90% overall, 5.30% for equities and 2.10% for debt securities. We expect to contribute $3.7 million to the U.K. Plan for 2020, of which $1.0 million has been contributed through March 31, 2020.