Employee Benefit Plans

12 Months Ended

Dec. 31, 2012

Employee Benefit Plans [Abstract]

Employee Benefit Plans

9. EMPLOYEE BENEFIT PLANS

The Company has defined contribution plans for most of its domestic employees. Under these plans, eligible employees may contribute amounts through payroll deductions supplemented by employer contributions for investment in various investments specified in the plans. In the second quarter of 2009, the Company elected to suspend employer contributions into the defined contribution plans. The Company contribution to these plans was $0 for 2012, 2011, and 2010, respectively. The Company has restored employer matching contributions to the defined contribution plans effective as of January 1, 2013.

The Company provides post-retirement medical benefits to certain domestic full-time employees who meet minimum age and service requirements. In 1999, a plan amendment was instituted which limits the liability for post-retirement benefits beginning January 1, 2000 for certain employees who retire after that date. This plan amendment resulted in a $1,100 unrecognized prior service cost reduction which will be recognized as employees render the services necessary to earn the post-retirement benefit. The Company's policy is to pay the cost of these post-retirement benefits when required on a cash basis. The Company also has provided certain foreign employees with retirement related benefits.

The following table presents the amounts recognized in the Company's consolidated balance sheets at December 31, 2012 and 2011 for post-retirement medical benefits:

	2012			2011
Change in Projected Benefit Obligation
Projected benefit obligation at January 1	$	850		$	875
Interest cost		43			47
Actuarial loss		(47	)		130
Participant contributions		60			85
Benefits paid		(204	)		(287	)
Projected benefit obligation at December 31		702			850
Change in fair value of plan assets
Employer contributions		144			202
Participant contributions		60			85
Benefits paid		(204	)		(287	)
Funded status		(702	)		(850	)
Amount recognized in consolidated balance sheets
Current liabilities		112			165
Noncurrent liabilities		590			685
Net amount recognized	$	702		$	850
Amount recognized in other comprehensive income
Unrecognized net actuarial gain		—			—
Total	$	—		$	—

Accrued post-retirement medical benefit costs are classified as other post-retirement benefit obligations as of December 31, 2012 and 2011.

Net periodic post-retirement medical benefit costs for 2012, 2011, and 2010 included the following components:

	2012		2011		2010
Service cost	$	—	$	—	$	—
Interest cost		43		47		49
Net periodic post-retirement medical benefit cost	$	43	$	47	$	49

For measurement purposes, a 7.0% annual rate of increase in the per capita cost of covered benefits (i.e., health care cost trend rate) was assumed for 2013; the rate was assumed to decrease gradually to 3.5% by the year 2018 and remain at that level thereafter. The difference in the health care cost trend rate assumption may have a significant effect on the amounts reported. Employer contributions for 2013 are expected to be approximately $112.

The assumptions used for the years ended December 31 were as follows:

	2012			2011			2010
Annual increase in cost of benefits		8.0	%		8.0	%		8.0	%
Discount rate used to determine year-end obligations		4.5	%		5.5	%		6.0	%
Discount rate used to determine year-end expense		5.5	%		6.0	%		6.0	%

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

2013	$	112
2014		101
2015		91
2016		82
2017		73
Years 2018 – 2022		243

The Company provides retirement related benefits to former executive employees and to certain employees of foreign subsidiaries. The Company has consistently applied various assumptions in determining the fair market value of these liabilities including discount rates, and mortality tables. The liabilities established for these benefits at December 31, 2012 and 2011 are illustrated below.

	2012		2011
Current portion	$	36	$	91
Long-term portion		510		431
Total liability at December 31	$	546	$	522