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Defined Benefit Pension Plans (Tables)
12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Schedule of Changes in Benefit Obligation and Fair Value of Plan Assets
The following tables set forth the components of the changes in benefit obligations and fair value of plan assets:
 Year Ended December 31,
In thousands20212020
Change in benefit obligation:
Benefit obligation at January 1,$132,732 $114,218 
Service cost4,479 4,027 
Interest cost1,383 1,817 
Actuarial (gain) loss(13,986)9,323 
Benefits paid(3,381)(2,820)
Foreign currency exchange rate changes(8,505)9,594 
Curtailment(579)(589)
Settlement(171)(78)
Other101 (2,760)
Benefit obligation at December 31,$112,073 $132,732 
Change in plan assets:
Fair value of plan assets at January 1,$10,206 $12,665 
Actual return on plan assets308 389 
Company contributions102 349 
Benefits paid(329)(298)
Foreign currency exchange rate changes(678)(177)
Release for divestiture— (2,722)
Fair value of plan assets at December 31,9,609 10,206 
Net pension benefit obligation at fair value$102,464 $122,526 
Schedule of Amounts Recognized in the Consolidated Balance Sheets
Amounts recognized on the Consolidated Balance Sheets consist of:
December 31,
In thousands20212020
Liabilities
Current portion of pension benefit obligation in wages and benefits payable$3,088 $3,069 
Pension benefit obligation held for sale within other current liabilities11,513 — 
Long-term portion of pension benefit obligation87,863 119,457 
Pension benefit obligation, net$102,464 $122,526 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
Amounts recognized in OCI (pre-tax) are as follows:
Year Ended December 31,
In thousands202120202019
Net actuarial (gain) loss$(14,565)$8,734 $8,762 
Settlement (gain) loss(286)(250)
Curtailment loss557 — — 
Plan asset (gain) loss38 64 (526)
Amortization of net actuarial loss(2,183)(2,255)(1,648)
Amortization of prior service cost(71)(68)(68)
Other101 — (160)
Other comprehensive (income) loss$(16,121)$6,189 $6,110 
Schedule of Net Periodic Pension Benefit Costs
Net periodic pension benefit cost for our plans include the following components:
Year Ended December 31,
In thousands202120202019
Service cost$4,479 $4,027 $3,711 
Interest cost1,383 1,817 2,278 
Expected return on plan assets(346)(453)(608)
Amortization of prior service costs71 68 68 
Amortization of actuarial net loss2,183 2,255 1,648 
Settlement(2)286 250 
Curtailment(557)— — 
Net periodic benefit cost$7,211 $8,000 $7,347 
Schedule of Assumptions Used
The significant actuarial weighted average assumptions used in determining the benefit obligations and net periodic benefit cost for our benefit plans are as follows:
 Year Ended December 31,
 202120202019
Actuarial assumptions used to determine benefit obligations at end of period:
Discount rate1.66 %1.10 %1.76 %
Expected annual rate of compensation increase3.88 %3.68 %3.76 %
Actuarial assumptions used to determine net periodic benefit cost for the period:
Discount rate1.10 %1.76 %2.24 %
Expected rate of return on plan assets3.45 %4.89 %5.19 %
Expected annual rate of compensation increase3.68 %3.76 %3.60 %
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
The total obligations and fair value of plan assets for plans with projected benefit obligations and accumulated benefit obligations exceeding the fair value of plan assets are as follows:
In thousandsDecember 31,
20212020
Projected benefit obligation$112,073 $132,732 
Accumulated benefit obligation103,437 121,747 
Fair value of plan assets9,609 10,206 
Fair values of the assets held by the postretirement benefits plans by asset category
The fair values of our plan investments by asset category are as follows:
Total
Quoted Prices in Active Markets for Identical Assets
(Level 1)
Significant Unobservable Inputs
(Level 3)
In thousandsDecember 31, 2021
Cash$1,075 $1,075 $— 
Insurance funds8,534 — 8,534 
Total fair value of plan assets$9,609 $1,075 $8,534 
In thousandsDecember 31, 2020
Cash$1,050 $1,050 $— 
Insurance funds9,156 — 9,156 
Total fair value of plan assets$10,206 $1,050 $9,156 
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets
The following tables present a reconciliation of Level 3 assets held during the years ended December 31, 2021 and 2020:
In thousandsBalance at January 1, 2021Net Realized and Unrealized GainsNet Purchases, Issuances, Settlements, and OtherRelease for DivestitureEffect of Foreign CurrencyBalance at December 31, 2021
Insurance funds$9,156 $289 $(242)$— $(669)$8,534 
In thousandsBalance at January 1, 2020Net Realized and Unrealized GainsNet Purchases, Issuances, Settlements, and OtherRelease for DivestitureEffect of Foreign CurrencyBalance at December 31, 2020
Insurance funds$8,133 $237 $15 $— $771 $9,156 
Other securities3,606 117 (61)(2,722)(940)— 
Total$11,739 $354 $(46)$(2,722)$(169)$9,156 
Schedule of Expected Benefit Payments
Annual benefit payments for the next 10 years, including amounts to be paid from our assets for unfunded plans and reflecting expected future service, as appropriate, are expected to be paid as follows:
Year Ending December 31,Estimated Annual Benefit Payments
In thousands
2022$4,294 
20233,456 
20244,392 
20254,686 
20264,755 
2027-203126,825