Pensions (Tables)

12 Months Ended

Dec. 31, 2013

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:

	2013	2012	2011
Year ended December 31,	%	%	%
Discount rate	4.50	4.70	5.40
Expected long-term rate of return on plan assets	4.70	5.30	6.40

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

	2013	2012
December 31,	%	%
Discount rate	4.50	4.50

Schedule of fair value of plan assets

The fair value of OEH’s pension plan assets at December 31, 2013 and 2012 by asset category is as follows:

	Total	Level 1	Level 2	Level 3
December 31, 2013	$’000	$’000	$’000	$’000
Cash	1,583	1,583	—	—
Equity securities:
U.K. managed funds	6,459	6,459	—	—
Overseas managed funds	5,402	5,402	—	—
Fixed income securities:
U.K. government bonds	1,549	1,549	—	—
Corporate bonds	6,124	6,124	—	—
Other types of investments:
Annuities	2,045	—	—	2,045
	23,162	21,117	—	2,045

	Total	Level 1	Level 2	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

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

Reconciliations of fair value measurements using significant unobservable inputs (Level 3) at December 31, 2013 and 2012 are as follows:

	Annuities		Total
Year ended December 31, 2013	$’000		$’000
Beginning balance at January 1, 2013	2,046		2,046
Foreign exchange	37		37
Actual return on plan assets:
Assets still held at the reporting date	42		42
Purchases, sales and settlements, net	(80	)	(80	)
Transfers into or out of Level 3	—		—
Ending balance at December 31, 2013	2,045		2,045

	Annuities		Total
Year ended December 31, 2012	$’000		$’000
Beginning balance at January 1, 2012	1,871		1,871
Foreign exchange	92		92
Actual return on plan assets:
Assets still held at the reporting date	158		158
Purchases, sales and settlements, net	(75	)	(75	)
Transfers into or out of Level 3	—		—
Ending balance at December 31, 2012	2,046		2,046

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:

	2013		2012		2011
Year ended December 31,	$’000		$’000		$’000
Change in benefit obligation:
Benefit obligation at beginning of year	27,927		24,189		20,074
Service cost	—		—		—
Interest cost	1,200		1,154		1,062
Plan participants’ contributions	—		—		—
Net transfer in	—		—		—
Actuarial (gain)/loss	(4,093	)	1,869		4,259
Benefits paid	(573	)	(560	)	(839	)
Curtailment gain	—		—		—
Settlement	—		—		—
Foreign currency translation	307		1,275		(367	)
Benefit obligation at end of year	24,768		27,927		24,189
Change in plan assets:
Fair value of plan assets at beginning of year	19,652		15,547		14,457
Actual return on plan assets	1,665		1,958		347
Employer contributions	1,880		1,854		1,770
Plan participants’ contributions	—		—		—
Net transfer in	—		—		—
Benefits paid	(573	)	(560	)	(839	)
Settlement	—		—		—
Foreign currency translation	538		853		(188	)
Fair value of plan assets at end of year	23,162		19,652		15,547
Funded status at end of year	(1,606	)	(8,275	)	(8,642	)
Net actuarial (gain)/loss recognized in other comprehensive loss	(5,763	)	(141	)	4,310

Schedule of amounts recognized in the consolidated balance sheets

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

	2013	2012
December 31,	$’000	$’000
Non-current assets	—	—
Current liabilities	—	—
Non-current liabilities	1,606	8,275

Schedule of amounts recognized in other comprehensive income/(loss)

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

	2013		2012
December 31,	$’000		$’000
Net loss	(8,212	)	(13,975	)
Prior service cost	—		—
Net transitional obligation	—		—
Total amount recognized in other comprehensive loss	(8,212	)	(13,975	)

Schedule of accumulated benefit obligations in excess of fair value of plan assets

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

	2013	2012
Year ended December 31,	$’000	$’000
Projected benefit obligation	24,768	27,927
Accumulated benefit obligation	24,768	27,927
Fair value of plan assets	23,162	19,652

Schedule of components of net periodic pension benefit cost

Components of net periodic benefit cost are as follows:

	2013		2012		2011
Year ended December 31,	$’000		$’000		$’000
Service cost	—		—		—
Interest cost on projected benefit obligation	1,200		1,154		1,062
Expected return on assets	(926	)	(846	)	(1,006	)
Net amortization and deferrals	930		899		608
Net periodic benefit cost	1,204		1,207		664

Schedule of future benefit payments

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

Year ended December 31,	$’000
2014	632
2015	463
2016	549
2017	657
2018	533
Next five years	3,929

Schedule of contributions to defined contribution pension plans

Total contributions to the plans were as follows:

	2013	2012	2011
Year ended December 31,	$’000	$’000	$’000
Employers’ contributions	2,542	2,719	3,023