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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
Schedule of Costs of Retirement Plans
Net periodic pension benefit expense recorded in the Company's consolidated statement of income for defined benefit pension plans include the following components (dollars in thousands):
 Pension Benefit
 202320222021
Service cost$490 $690 $1,280 
Interest cost1,290 890 800 
Expected return on plan assets(2,140)(1,590)(1,530)
Settlements and curtailments1,020 150 — 
Amortization of net loss120 570 910 
Net periodic benefit expense (a)
$780 $710 $1,460 
__________________________
(a) The net periodic benefit expense for the U.S. defined benefit pension plans was $0.5 million, $0.9 million and $1.0 million for 2023, 2022 and 2021, respectively. The net periodic benefit expense (income) for the non-U.S. defined benefit pension plans was $0.3 million, $(0.2) million and $0.4 million for 2023, 2022 and 2021, respectively.
Schedule of Assumptions Used Weighted average assumptions used in accounting for the U.S. defined benefit pension plans are as follows:
 Pension Benefit
 202320222021
Discount rate for obligations5.05 %5.24 %3.06 %
Discount rate for benefit costs5.24 %3.06 %2.79 %
Rate of increase in compensation levelsN/AN/AN/A
Expected long-term rate of return on plan assets6.13 %6.13 %6.13 %
The Company utilizes a high-quality (Aa or greater) corporate bond yield curve as the basis for its domestic discount rate for its pension benefit plans. Management believes this yield curve removes the impact of including additional required corporate bond yields (potentially considered in the above-median curve) resulting from the uncertain economic climate that does not necessarily reflect the general trend in high-quality interest rates.
Weighted average assumptions used in accounting for the non-U.S. defined benefit pension plans are as follows:
 Pension Benefit
 202320222021
Discount rate for obligations4.70 %4.90 %2.10 %
Discount rate for benefit costs4.90 %2.10 %1.50 %
Rate of increase in compensation levels5.50 %4.80 %3.30 %
Expected long-term rate of return on plan assets6.60 %4.20 %3.90 %
Schedule of Changes in Projected Benefit Obligations and Fair Value of Plan Assets
The following provides a reconciliation of the changes in the Company's defined benefit pension plans' projected benefit obligations and fair value of assets for each of the years ended December 31, 2023 and 2022 and the funded status as of December 31, 2023 and 2022 (dollars in thousands):
Pension Benefit
20232022
Changes in Projected Benefit Obligations 
Benefit obligations at January 1$(25,560)$(37,560)
Service cost(490)(690)
Interest cost(1,290)(890)
Participant contributions— (10)
Actuarial (loss) gain (a)
(780)10,260 
Benefit payments1,300 1,310 
Settlements90 — 
Change in foreign currency(740)2,020 
Projected benefit obligations at December 31 (b)
$(27,470)$(25,560)
Changes in Plan Assets
Fair value of plan assets at January 1$25,470 $38,130 
Actual return on plan assets1,540 (10,070)
Employer contributions1,260 1,520 
Participant contributions— 10 
Benefit payments(1,300)(1,310)
Settlements(90)— 
Change in foreign currency920 (2,810)
Fair value of plan assets at December 31 (c)
$27,800 $25,470 
Funded status at December 31$330 $(90)
__________________________
(a) The actuarial loss for the year ended December 31, 2023 was primarily due to changes in demographic assumptions as well as a decrease in the discount rate utilized in measuring the projected benefit obligations, partially offset by experience gains. The actuarial gain for the year ended December 31, 2022 was primarily due to an increase in the discount rate utilized in measuring the projected benefit obligations, partially offset by experience losses.
(b) U.S. projected benefit obligations were $13.2 million and $12.6 million at December 31, 2023 and 2022, respectively. Non-U.S. projected benefit obligations were $14.3 million and $13.0 million at December 31, 2023 and 2022, respectively.
(c) The fair value of U.S. plan assets was $9.5 million and $8.2 million at December 31, 2023 and 2022, respectively. The fair value of non-U.S. plan assets was $18.3 million and $17.3 million at December 31, 2023 and 2022, respectively.
Schedule of Amounts Recognized in Balance Sheet
Pension Benefit
20232022
Amounts Recognized in Balance Sheet
Other assets$4,680 $4,860 
Current liabilities(310)(310)
Noncurrent liabilities(4,040)(4,640)
Net asset (liability) recognized at December 31$330 $(90)
Schedule of Accumulated Other Comprehensive Income
Pension Benefit
20232022
Amounts Recognized in Accumulated Other Comprehensive Loss
Unrecognized prior service cost$20 $160 
Unrecognized net loss7,740 7,370 
Total accumulated other comprehensive loss recognized at December 31$7,760 $7,530 
Changes in AOCI by component for the year ended December 31, 2023 are summarized as follows, net of tax (dollars in thousands):
Defined Benefit Plans Derivative InstrumentsForeign Currency TranslationTotal
Balance, December 31, 2022$(5,380)$15,320 $(18,560)$(8,620)
Net unrealized gains (losses) arising during the period (a)
(1,040)(2,060)11,680 8,580 
Less: Net realized losses reclassified to net income (b)
(690)— — (690)
Net current-period other comprehensive income (loss)(350)(2,060)11,680 9,270 
Balance, December 31, 2023$(5,730)$13,260 $(6,880)$650 
__________________________
(a) Defined benefit plans, net of income tax of $0.4 million. See Note 16, "Employee Benefit Plans," for additional details. Derivative instruments, net of income tax of $0.7 million. See Note 12, "Derivative Instruments," for further details.
(b) Defined benefit plans, net of income tax of $0.2 million. See Note 16, "Employee Benefit Plans," for additional details.
Changes in AOCI by component for the year ended December 31, 2022, are summarized as follows, net of tax (dollars in thousands):
Defined Benefit Plans Derivative InstrumentsForeign Currency TranslationTotal
Balance, December 31, 2021$(4,830)$5,910 $(850)$230 
Net unrealized gains (losses) arising during the period (a)
(1,070)9,410 (17,710)(9,370)
Less: Net realized losses reclassified to net income (b)
(520)— — (520)
Net current-period other comprehensive income (loss)(550)9,410 (17,710)(8,850)
Balance, December 31, 2022$(5,380)$15,320 $(18,560)$(8,620)
__________________________
(a) Defined benefit plans, net of income tax of $0.3 million. See Note 16, "Employee Benefit Plans," for additional details. Derivative instruments, net of income tax expense of $3.2 million. See Note 12, "Derivative Instruments," for further details.
(b) Defined benefit plans, net of income tax of $0.2 million. See Note 16, "Employee Benefit Plans," for additional details.
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
 Accumulated Benefit ObligationsProjected Benefit Obligations
 2023202220232022
Benefit Obligations at December 31,
Total benefit obligations$(27,260)$(25,400)$(27,470)$(25,560)
Plans with benefit obligations exceeding plan assets    
Benefit obligations$(13,590)$(13,000)$(13,800)$(13,170)
Plan assets$9,450 $8,220 $9,450 $8,220 
Schedule of Effect of Change in Discount Rate and Expected Return on Assets on Benefit Obligations and Expense A 25 basis point change in benefit obligation discount rates or 50 basis point change in expected return on plan assets would have the following effect (dollars in thousands):
 Pension Benefit
 December 31, 2023
Benefit Obligation		2023 Expense
Discount rate  
25 basis point increase$(830)$(30)
25 basis point decrease$870 $30 
Expected return on assets
50 basis point increaseN/A$(170)
50 basis point decreaseN/A$170 
Schedule of Allocation of Plan Assets
The actual weighted average asset allocation of the Company's domestic and foreign pension plans' assets at December 31, 2023 and 2022 and target allocations by class, were as follows:
 Domestic PensionForeign Pension
 ActualActual
 Target20232022Target20232022
Equity securities60 %60 %60 %— %— %14 %
Fixed income36 %38 %37 %100 %99 %66 %
Diversified growth(a)
— %— %— %— %— %19 %
Cash and other4 %2 %3 %— 1 %1 %
Total100 %100 %100 %100 %100 %100 %
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(a) Diversified growth funds invest in a broad range of asset classes including equities, investment grade and high yield bonds, commodities, property, private equity, infrastructure and currencies.
Fair Value, Assets Measured on Recurring Basis [Table Text Block]
The following table summarizes the level under the fair value hierarchy (see Note 3, "Summary of Significant Accounting Policies") that the Company's pension plan assets are measured, on a recurring basis as of December 31, 2023 (dollars in thousands):
 TotalLevel 1Level 2Level 3
Plan assets subject to leveling    
Investment funds
Equity securities$5,720 $5,720 $— $— 
Cash and cash equivalents200 200 — — 
Plan assets measured at net asset value(a)
Investment funds
Fixed income21,710 
Cash and cash equivalents170 
Total$27,800 $5,920 $— $— 
________________________________________
(a) Certain investments that are measured at fair value using the net asset value per share as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amount presented in the fair value of plan assets.
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid during the following years (dollars in thousands):
Year ended December 31,Pension
Benefit
2024$1,310 
20251,370 
20261,410 
20271,480 
20281,560 
Years 2029-20339,270