v3.25.4
Employee Benefits
12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Employee Benefits 13. Employee Benefits
Defined Benefit Postretirement Plans
According to French law and the Syntec Collective Agreement, French employees are entitled to compensation paid on
retirement, equal to up to twelve months of their salary based on term of employment.
The following table summarizes the changes in the projected benefit obligation:
Year Ended December 31,
2025
2024
2023
(in thousands)
Accumulated postretirement benefit obligation - beginning of period 
$4,709
$4,123
$3,708
Service cost
785
687
707
Interest cost 
200
158
161
Curtailment
—
(192)
(306)
Actuarial losses (gains) 
(622)
216
(290)
Currency translation adjustment
635
(283)
143
Accumulated postretirement benefit obligation - end of period 
$5,707
$4,709
$4,123
The Company does not hold any plan assets for any of the periods presented.
The main assumptions used for the purposes of the actuarial valuations are listed below:
Year Ended December 31,
2025
2024
2023
Discount rate (Corp AA)
4.5%
3.9%
3.9%
Expected rate of salary increase
7.0%
7.0%
7.0%
Expected rate of social charges
50.0%
49.0%
48.0%
Expected staff turnover
Company age-
based table
Company age-
based table
Company age-
based table
Estimated retirement age
65 years old
65 years old
Progressive table
Life table
TH-TF 2000-2002
shifted
TH-TF 2000-2002
shifted
TH-TF 2000-2002
shifted
Defined Contribution Plans
The Company also provides qualified defined contribution plans primarily in France, the United States, and the United
Kingdom. The most significant of these plans is the 401(k) Plan, which covers eligible U.S. employees. Employees can
contribute to the plans a specified percentage of their eligible compensation, subject to matching contributions from the
Company on behalf of the eligible employee. The following table shows the Company's agreed contributions, reported in
the Consolidated Statement of Operations for the period.
Year Ended December 31,
2025
2024
2023
(in thousands)
Defined contributions plan expenses
$(20,067)
$(19,062)
$(18,342)