EMPLOYEE BENEFIT PLANS

6 Months Ended

Jun. 30, 2022

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 June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Interest cost	$	390	$	326	813		$	648
Expected return on plan assets	(582)		(509)		(1,211)		$	(1,012)
Amortization of prior service cost	8		9		16		$	17
Net periodic pension credit	$	(184)	$	(174)	$	(382)	$	(347)

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: 2.1% overall, 4.6% for equities and 1.4% for debt securities. We expect to contribute $3.7 million to the U.K. Plan for 2022, of which $1.9 million has been contributed through June 30, 2022.