Employee Benefit Plan

12 Months Ended

Dec. 31, 2019

Compensation Related Costs [Abstract]

Compensation and Employee Benefit Plans, Other than Share-based Compensation [Text Block]

14.Employee Benefit Plan

The Company has a 401(k) retirement plan covering substantially all employees of the Company, whereby participants may contribute a percentage of their compensation, as allowed under applicable laws. The Plan provides for discretionary matching contributions by the Company. Participants are 100% vested in participant contributions. The Company recognized $2.3 million, $1.7 million and $1.7 million in expense under this employee benefit plan each year for 2019, 2018 and 2017, respectively.

The Company has a nonqualified deferred compensation plan that allows eligible employees to defer a portion of their compensation. Participants can defer up to 85% of their base salary and up to 100% of their bonus for the year. Each participant is fully vested in all deferred compensation and earnings; however, these amounts are subject to general creditor claims until distributed to the participant. The total liability under the deferred compensation plan was $3.3 million and $3.0 million as of December 31, 2019 and 2018, and is included in other long-term liabilities in the accompanying consolidated balance sheets. The Company purchased life insurance policies to fund the future liability. The life insurance policies had a value of $2.8 million and $2.9 million as of December 31, 2019 and 2018, respectively and are included in other assets in the consolidated balance sheets. During 2018, the Company recorded a death benefit gain of $4.0 million for one of its insured.