Schedule of Net Benefit Costs

Net periodic pension cost associated with the Swiss Plan included the following components (in thousands):


	Years Ended
	2023			2022			2021
Service cost(1)	$	916		$	1,133		$	1,089
Interest cost(2)		413			82			55
Expected return on plan assets(2)		(452	)		(494	)		(434	)
Prior service credit(2),(3)		(179	)		(179	)		(42	)
Actuarial loss recognized in current period(2),(3)		—			390			524
Net periodic pension cost	$	698		$	932		$	1,192

(1) Recognized in selling general and administrative expenses on the Consolidated Statements of Income.

(2) Recognized in other income (expense), net, on the Consolidated Statements of Income.

(3) Amounts reclassified from accumulated other comprehensive income (loss).

Schedule of Assumptions Used

Net periodic pension cost and projected and accumulated pension obligation for the Company’s Swiss Plan were calculated using the following assumptions:


	2023			2022
Discount rate		1.5	%		2.2	%
Salary increases		2.5	%		2.0	%
Expected return on plan assets		3.0	%		2.5	%
Expected average remaining working lives in years		9.5			9.3

Schedule Of Defined Benefit Plan Estimated Future Benefit Payments

The estimated future benefit payments for the Swiss Plan are as follows (in thousands):


Year Ended	Amount
2024	$	196
2025		131
2026		158
2027		202
2028		3,897
Thereafter		—
Total	$	4,584

Schedule of Defined Benefit Plans Disclosures

The funded status of the benefit plan was as follows (in thousands):


	2023			2022
Change in Projected Benefit Obligation:
Projected benefit obligation, beginning of period	$	1,181		$	1,320
Service cost		60			116
Interest cost		3			2
Actuarial (gain) loss		8			(42	)
Benefits paid		(705	)		(46	)
Foreign exchange adjustment		(76	)		(169	)
Projected benefit obligation, end of period	$	471		$	1,181
Change in Plan Assets:
Plan assets at fair value, beginning of period	$	—		$	—
Actual return on plan assets		—			—
Employer contributions		—			—
Benefits paid		—			—
Distribution of plan assets		—			—
Foreign exchange adjustment		—			—
Plan assets at fair value, end of period	$	—		$	—
Funded status (pension liability), end of year(1)	$	(471	)	$	(1,181	)
Amount Recognized in Accumulated Other Comprehensive Income (Loss), net of tax:
Actuarial loss	$	(28	)	$	(30	)
Prior service cost		3			4
Settlement		(106	)		—
Curtailment		(2	)		—
Net gain (loss)		189			210
Accumulated other comprehensive income	$	56		$	184
Accumulated benefit obligation at year end	$	(446	)	$	(1,134	)

(1) The underfunded balance was included in pension liability on the Consolidated Balance Sheets.

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Changes in other comprehensive income (loss), net of tax, associated with the Japan Plan include the following components (in thousands):


	Years Ended
	2023			2022			2021
Amortization of actuarial loss	$	2		$	5		$	3
Prior service cost		(1	)		(2	)		(1	)
Actuarial income (loss) recorded in current year		(21	)		(11	)		175
Settlement		(106	)		—			—
Curtailment loss		(2	)		—			—
Change in other comprehensive income (loss)	$	(128	)	$	(8	)	$	177

Schedule Of Defined Benefit Plan Estimated Future Benefit Payments

The estimated future benefit payments for the Japan Plan are as follows (in thousands):


Year Ended	Amount
2024	$	40
2025		45
2026		49
2027		51
2028		64
Thereafter		222
Total	$	471