Defined Benefit Plan

6 Months Ended

Jun. 30, 2013

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Defined Benefit Plan

Defined Benefit Plan

Maxwell SA, a subsidiary of the Company, has a retirement plan that is classified as a defined benefit pension plan. The employee pension benefit is based on compensation, length of service and credited investment earnings. The plan guarantees both a minimum rate of return as well as minimum annuity purchase rates. The Company’s funding policy with respect to the pension plan is to contribute the amount required by Swiss law, using the required percentage applied to the employee’s compensation. In addition, participating employees are required to contribute to the pension plan. This plan has a measurement date of December 31.

Components of net periodic pension cost are as follows (in thousands):

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2013			2012			2013			2012
Service cost	$	204		$	168		$	411		$	339
Interest cost	124			163			249			329
Expected return on plan assets	(379		)	(351		)	(762		)	(709		)
Prior service cost amortization	11			11			22			22
Deferred loss amortization	44			54			89			110
Net periodic pension cost	$	4		$	45		$	9		$	91

Employer contributions of $178,000 and $183,000 were paid during the three months ended June 30, 2013 and 2012, respectively. Employer contributions of $361,000 and $370,000 were paid during the six months endedJune 30, 2013 and 2012, respectively. Additional employer contributions of approximately $305,000 are expected to be paid during the remainder of fiscal 2013.