XML 113 R41.htm IDEA: XBRL DOCUMENT v2.4.1.9
PENSION PLANS (Tables)
12 Months Ended
Dec. 31, 2014
Pension and Other Postretirement Benefit Expense [Abstract]  
Schedule of Aggregate Net Pension Expense
The aggregate net pension expense relating to these two plans are as follows:
 
 
Years Ended
 
December 31,
2014
 
December 31,
2013
 
December 31,
2012
 
(in thousands)
Service costs
$
1,526

 
$
1,795

 
$
1,290

Interest costs
1,509

 
1,430

 
1,447

Amortization of actuarial loss (gain)
47

 
376

 
(55
)
Settlement and other related gain

 
(59
)
 
(12
)
Curtailment gain

 
(1,607
)
 

Net pension period cost
$
3,082

 
$
1,935

 
$
2,670

Schedule of Changes in Projected Benefit Obligation and Accumulated Benefit Obligation
The change in projected benefit obligation and the accumulated benefit obligation, were as follows:
 
December 31, 2014
 
December 31, 2013
 
(in thousands)
Projected benefit obligation at beginning of the year
$
38,916

 
$
40,621

Service costs
1,526

 
1,795

Interest costs
1,509

 
1,430

Settlement

 
(59
)
Curtailment gain

 
(1,607
)
Actuarial loss (gain)
8,753

 
(3,460
)
Benefits paid
(483
)
 
(322
)
Foreign currency exchange rate changes
(385
)
 
518

Projected benefit obligation at end of the year
$
49,836

 
$
38,916

Accumulated benefit obligation at end of the year
$
46,092

 
$
35,761

Schedule of Actuarial Assumptions Used to Determine Benefit Obligations
Actuarial assumptions used to determine benefit obligations for the plans were as follows:
 
Years Ended
 
December 31, 2014
 
December 31, 2013
 
December 31, 2011
Assumed discount rate
1.49-2.15%
 
3.1-4.0%
 
2.7-3.9%
Assumed compensation rate of increase
2.9-3.0%
 
2.4-3.0%
 
2.4-3.0%
Schedule of Expected Benefit Payments
Future estimated expected benefit payments over the next 10 years are as follows:
Years Ending December 31:
 
 
(in thousands)
2015
$
546

2016
758

2017
672

2018
955

2019
1,233

2020 through 2024
9,474

 
$
13,638