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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2013
Postemployment Benefits [Abstract]  
Components of Net Periodic Benefit Cost

The components of net periodic benefit cost included in the accompanying consolidated statements of income were as follows:

 

     2013      2012      2011  

Service cost

   $ 119       $ 83       $ 84   

Interest cost

     161         175         183   

Amortization of loss

     22         —          —    
  

 

 

    

 

 

    

 

 

 

Net periodic benefit cost

   $ 302       $ 258       $ 267   
  

 

 

    

 

 

    

 

 

 
Assumptions Used to Determine the Net Periodic Benefit Cost

The assumptions used to determine the net periodic benefit cost were as follows:

 

     2013     2012     2011  

Weighted-average discount rate

     3.5     3.25     4.75

Weighted-average rate of compensation increase

     3.0     3.0     3.0
Change in Projected Benefit Obligation

A reconciliation of the beginning and ending balance of the projected benefit obligation for the years ended December 31, 2013 and 2012 is as follows:

 

     2013     2012  

Change in projected benefit obligation:

    

Projected benefit obligation at beginning of year

   $ 4,949      $ 3,758   

Service cost

     119        83   

Interest cost

     161        175   

Actuarial (gain) loss

     (238     926   

Benefits paid

     (91     (79

Foreign currency exchange rate changes

     222        86   
  

 

 

   

 

 

 

Projected benefit obligation at end of year

   $ 5,122      $ 4,949   
  

 

 

   

 

 

 

Accumulated benefit obligation

   $ 4,978      $ 4,796   
  

 

 

   

 

 

 

Funded status at end of year

   $ (5,122   $ (4,949
  

 

 

   

 

 

 
Net Amounts Recognized in the Financial Statements

Net Amounts Recognized in the Financial Statements:

    

Current liability

   $ 112      $ 91   

Unrecognized actuarial gain reported within accrued pension benefits

     5,010        4,858   
  

 

 

   

 

 

 

Net accrued pension liability recognized

     5,122        4,949   

Amounts included in other accumulated comprehensive income not yet recognized in periodic pension cost, net of tax

     (511     (780

Amounts expected to be amortized from accumulated comprehensive income into net periodic pension costs over the next fiscal year (consists of net actuarial gain/loss)

     1        22  
Assumptions Used to Determine Accrued Pension Benefits (Obligations)

The assumptions used to determine the accrued pension benefits (obligations) were as follows:

 

     2013     2012  

Weighted-average discount rate

     3.5     3.25

Weighted-average rate of compensation increase

     3.0     3.0

Rate of inflation

     2.0     2.0
Schedule of Expected Future Benefit Payments

The following table reflects the total future expected benefit payments to plan participants. These payments have been estimated based on the same assumptions used to measure the Company’s benefit obligation at year end.

 

Expected Future Benefit Payments:

  

2014

   $ 112   

2015

     142   

2016

     165   

2017

     183   

2018

     193   

2019-2023

     1,113