v3.25.4
Retirement Plans And Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits, Description [Abstract]  
Components Of Consolidated Net Pension Costs Retirement Plans
The components of our net pension cost related to our defined benefit pension plans are set forth in the following table:
(in thousands)202520242023
 U.S.ForeignU.S.ForeignU.S.Foreign
Service cost$1,221 $982 $960 $942 $1,483 $1,053 
Interest cost4,587 495 4,409 617 4,722 870 
Expected return on assets(4,346)(1,283)(4,729)(1,358)(4,353)(1,145)
Settlement gain(820)— — — — — 
Mark-to-market (gain) loss (970)(1,405)(1,370)2,423 (2,513)4,395 
Net periodic benefit (credit) cost$(328)$(1,211)$(730)$2,624 $(661)$5,173 
Reconciliation Of Pension Plans' Benefit Obligations, Fair Value Of Assets Retirement Plans The reconciliation of the beginning and ending balances of our pension plans’ benefit obligations, fair value of assets, and funded status at December 31, 2025 and 2024 are shown below.
(in thousands)
December 31, 2025
December 31, 2024
 U.S.ForeignU.S.Foreign
Changes in Benefit Obligation:
Net benefit obligation at beginning of period$89,455 $34,045 $97,322 $37,481 
Service cost1,221 982 960 942 
Interest cost4,587 495 4,409 617 
Participant contributions— 446 — 435 
Plan settlements(23,506)— — (3,267)
Foreign currency exchange changes— 4,930 — (2,748)
Actuarial loss (gain)857 (1,555)(3,550)1,676 
Benefits paid(10,584)(235)(9,686)(1,091)
Net benefit obligation at end of period$62,030 $39,108 $89,455 $34,045 
Changes in Plan Assets:
Fair value of plan assets at beginning of period$75,953 $25,342 $78,396 $29,981 
Actual return on plan assets6,993 1,133 2,549 611 
Foreign currency exchange rate changes— 3,735 — (2,172)
Plan settlements(23,506)— — (3,267)
Employer contributions1,525 646 4,385 760 
Participant contributions— 446 — 435 
Benefits paid(10,287)(125)(9,377)(1,006)
Fair value of plan assets at end of period$50,678 $31,177 $75,953 $25,342 
Funded status (underfunded):$(11,352)$(7,931)$(13,502)$(8,703)
Amounts recognized in the statement
  of financial position:
Other accrued liabilities$(261)$(102)$(286)$— 
Other long-term obligations(11,091)(7,829)(13,216)(8,703)
Net amount recognized$(11,352)$(7,931)$(13,502)$(8,703)
Assumptions Used To Determine Net Pension Costs And Projected Benefit Obligations Assumptions used to determine net pension costs and projected benefit obligations are:
Pension Benefit Obligations Key Assumptions
 20252024
Weighted average assumptions to determine benefit obligations:
Discount rate3.80 %4.29 %
Rate of compensation increase1.46 %1.69 %
 
Pension Cost Key Assumptions
Weighted average assumptions to determine net cost:
Discount rate4.29 %3.93 %
Expected return on plan assets5.67 %5.88 %
Rate of compensation increase1.69 %1.70 %
Retirement Plan Weighted Average Asset Allocations The following table presents our retirement plan weighted average asset allocations at December 31, 2025, by asset category:
 Percentage of Plan Assets
 U.S.Foreign
Equity securities20 %— %
Fixed income, debt securities, or cash80 %100 %
Total100 %100 %
Pension Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets
Information for our pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2025 and 2024 follows:
(in thousands)20252024
 U.S.ForeignU.S.Foreign
Accumulated benefit obligation$62,030 $37,375 $89,455 $32,311 
Fair value of plan assets50,678 31,177 75,953 25,342 
Pension Plans With Projected Benefit Obligation In Excess Of Plan Assets
Information for our pension plans with a projected benefit obligation in excess of plan assets at December 31, 2025 and 2024 follows:
(in thousands)20252024
 U.S.ForeignU.S.Foreign
Projected benefit obligation$62,030 $39,108 $89,455 $34,045 
Fair value of plan assets50,678 31,177 75,953 25,342 
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets
The following table presents the changes for those financial instruments classified within Level 3 of the valuation hierarchy for international plan pension assets for the years ended December 31, 2025 and 2024:
(in thousands)Fixed Insurance
Contracts
Balance at December 31, 2023
$29,020 
   Gain / contributions / currency impact(4,241)
   Distributions(137)
Balance at December 31, 2024
24,642 
   Gain / contributions / currency impact6,027 
   Distributions(172)
Balance at December 31, 2025
$30,497 
Schedule of Allocation of Plan Assets
The fair value of other plan assets by category is summarized below:
(in thousands)December 31, 2025
Level 1Level 2Level 3Total
U.S. Plan Assets
Cash and cash equivalents$1,242 $— $— $1,242 
Equity securities10,537 — — 10,537 
Fixed income securities12,257 11,581 — 23,838 
Other3,397 — — 3,397 
International Plan Assets
Foreign government bonds— 680 — 680 
Fixed insurance contracts— — 30,497 30,497 
Total international plan assets$— $680 $30,497 $31,177 
U.S. Plan - Investments measured at net asset value$11,664 
Total$27,433 $12,261 $30,497 $81,855 
December 31, 2024
Level 1Level 2Level 3Total
U.S. Plan Assets
Cash and cash equivalents$696 $— $— $696 
International Plan Assets
Foreign government bonds— 700 — 700 
Fixed insurance contracts— — 24,642 24,642 
Total international plan assets$— $700 $24,642 $25,342 
U.S. Plan - Investments measured at net asset value$75,257 
Total$696 $700 $24,642 $101,295 
Schedule of Expected Benefit Payments
Following is our projected future pension plan cash flow by year:
(in thousands)U.S.Foreign
Expected contributions in 2026:
Expected employer contributions$3,181 $846 
Expected employee contributions— — 
Estimated future benefit payments:
2026$6,777 $1,677 
20276,532 2,476 
20286,290 1,800 
20296,034 1,577 
20305,776 3,265 
Next five years24,576 11,749