Pensions (Tables)

12 Months Ended

Dec. 31, 2012

Compensation and Retirement Disclosure [Abstract]

Schedule of significant weighted average assumptions

The significant weighted-average assumptions used to determine net periodic costs of the plan during the year were as follows:

	2012		2011		2010
Year ended December 31,	%		%		%
Discount rate	4.70	%	5.40	%	5.80	%
Expected long-term rate of return on plan assets	5.30	%	6.40	%	6.60	%

The significant weighted-average assumptions used to determine benefit obligations of the plan at year end were as follows:

	2012		2011
December 31,	%		%
Discount rate	4.50	%	4.70	%

Schedule of fair value of plan assets

The expected returns on annuities are set equal to the end of year discount rate as the value of annuities is tied to that rate. The fair value of OEH’s pension plan assets at December 31, 2012 and 2011 by asset category is as follows:

	Total	Quoted prices in active markets for identical assets (Level 1)	Significant observable inputs (Level 2)	Significant unobservable inputs (Level 3)
December 31, 2012	$’000	$’000	$’000	$’000
Cash	87	87	—	—
Equity securities:
U.K. managed funds	5,232	5,232	—	—
Overseas managed funds	4,869	4,869	—	—
Fixed income securities:
U.K. government bonds	1,651	1,651	—	—
Corporate bonds	4,233	4,233	—	—
Other types of investments:
Hedge funds	1,534	—	1,534	—
Annuities	2,046	—	—	2,046
	19,652	16,072	1,534	2,046

	Total	Quoted prices in active markets for identical assets (Level 1)	Significant observable inputs (Level 2)	Significant unobservable inputs (Level 3)
December 31, 2011	$’000	$’000	$’000	$’000
Cash	90	90	—	—
Equity securities:
U.K. managed funds	4,324	4,324	—	—
Overseas managed funds	4,072	4,072	—	—
Fixed income securities:
U.K. government bonds	1,618	1,618	—	—
Corporate bonds	2,144	2,144	—	—
Other types of investments:
Hedge funds	1,428	—	1,428	—
Annuities	1,871	—	—	1,871
	15,547	12,248	1,428	1,871

Schedule of fair value measurements using significant unobservable inputs (Level 3)

Fair value measurements using significant unobservable inputs (Level 3) at December 31, 2012 and 2011 are as follows:

	Annuities		Total
December 31, 2012	$’000		$’000
Beginning balance at January 1, 2012	1,871		1,871
Actual return on assets:
Assets still held at the reporting date	158		158
Purchases, sales and settlements	(75	)	(75	)
Gain/ (loss) recorded in earnings	—		—
Gain/ (loss) recorded in other comprehensive income	—		—
Foreign exchange	92		92
Ending balance at December 31, 2012	2,046		2,046

	Annuities		Total
December 31, 2011	$’000		$’000
Beginning balance at January 1, 2011	1,669		1,669
Actual return on assets:
Assets still held at the reporting date	286		286
Purchases, sales and settlements	(67	)	(67	)
Gain/ (loss) recorded in earnings	—		—
Gain/ (loss) recorded in other comprehensive income	—		—
Foreign exchange	(17	)	(17	)
Ending balance at December 31, 2011	1,871		1,871

Schedule of changes in the benefit obligation, the plan assets and funded status of the plan

The changes in the benefit obligation, the plan assets and the funded status for the plan were as follows:

	2012		2011		2010
Year ended December 31,	$’000		$’000		$’000
Change in benefit obligation:
Benefit obligation at beginning of year	24,189		20,074		19,235
Service cost	—		—		—
Interest cost	1,154		1,062		1,067
Plan participants’ contributions	—		—		—
Net transfer in	—		—		—
Actuarial loss	1,869		4,259		471
Benefits paid	(560	)	(839	)	(246	)
Curtailment gain	—		—		—
Settlement	—		—		—
Foreign currency translation	1,275		(367	)	(453	)
Benefit obligation at end of year	27,927		24,189		20,074
Change in plan assets:
Fair value of plan assets at beginning of year	15,547		14,457		11,833
Actual return on plan assets	1,958		347		1,538
Employer contributions	1,854		1,770		1,571
Plan participants’ contributions	—		—		—
Net transfer in	—		—		—
Benefits paid	(560	)	(839	)	(246	)
Settlement	—		—		—
Foreign currency translation	853		(188	)	(239	)
Fair value of plan assets at end of year	19,652		15,547		14,457
Funded status at end of year	(8,275	)	(8,642	)	(5,617	)
Net actuarial loss/(gain) recognized in other comprehensive loss	(141	)	4,310		(879	)

Schedule of amounts recognized in the consolidated balance sheets

Amounts recognized in the consolidated balance sheets consist of the following:

	2012	2011
December 31,	$’000	$’000
Non-current assets	—	—
Current liabilities	—	—
Non-current liabilities	8,275	8,642

Schedule of amounts recognized in other comprehensive income (loss)

Amounts recognized in accumulated other comprehensive income/(loss) consist of the following:

	2012		2011
December 31,	$’000		$’000
Net loss	(13,975	)	(14,116	)
Prior service cost	—		—
Net transitional obligation	—		—
Total amount recognized in other comprehensive loss	(13,975	)	(14,116	)

Schedule of information about defined benefit pension plans

The following table details certain information with respect to OEH’s U.K. defined benefit pension plan:

	2012	2011
Year ended December 31,	$’000	$’000
Projected benefit obligation	27,927	24,189
Accumulated benefit obligation	27,927	24,189
Fair value of plan assets	19,652	15,547

Schedule of components of net periodic pension benefit cost

Components of net periodic pension benefit cost are as follows:

	2012		2011		2010
Year ended December 31,	$’000		$’000		$’000
Service cost	—		—		—
Interest cost on projected benefit obligation	1,154		1,062		1,088
Expected return on assets	(846	)	(1,006	)	(805	)
Net amortization and deferrals	899		608		678
Net periodic benefit cost	1,207		664		961

Schedule of future benefit payments

The following benefit payments, which reflect assumed future service, are expected to be paid:

Year ended December 31,	$’000
2013	460
2014	517
2015	548
2016	577
2017	628
Next five years	3,643

Schedule of contributions to defined contribution pension plans

Certain employees of OEH were members of defined contribution pension plans.  Total contributions to the plans were as follows:

	2012	2011	2010
Year ended December 31,	$’000	$’000	$’000
Employers’ contributions	2,719	3,023	2,552