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Other Liabilities
3 Months Ended
Mar. 31, 2013
Other Liabilities [Abstract]  
Other Liabilities

 

Note 12 – Other Liabilities

 

Other liabilities are summarized as follows (dollars in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

March 31,
2013

 

December 31, 2012

Current liabilities

 

 

 

 

Lease liability

$

5,882 

$

5,855 

Security deposit payable

 

174 

 

174 

Other

 

50 

 

Other current liabilities

$

6,106 

$

6,032 

Other liabilities

 

 

 

 

Foreign withholding taxes

$

6,547 

$

6,480 

Straight-line rent liability

 

9,076 

 

8,893 

Environmental reserve

 

1,656 

 

1,656 

Accrued pension

 

7,067 

 

6,976 

Interest rate swap

 

5,094 

 

5,855 

Acquired leases

 

1,911 

 

2,078 

Other payable

 

1,191 

 

1,191 

Other

 

611 

 

630 

Other liabilities

$

33,153 

$

33,759 

 

Included in our other liabilities are accrued pension costs of $7.1 million at March 31, 2013.  The benefits of our pension plans are fully vested, and, as such, no service costs were recognized for the three months ended March 31, 2013 and 2012.  Our pension plans are unfunded; therefore, the actuarial assumptions do not include an estimate for any expected return on the plan assets.  For the three months ended March 31, 2013, we recognized $146,000 of interest cost and $165,000 of amortized prior service cost.  For the three months ended March 31, 2012, we recognized $89,000 of interest cost and $76,000 of amortized prior service cost.