XML 30 R37.htm IDEA: XBRL DOCUMENT v2.4.0.8
PENSION PLAN (Tables)
12 Months Ended
Dec. 31, 2013
Pension Plan Tables  
Actuarial present value of the benefit obligations
($ in thousands)   2013     2012  
Change in benefit obligation:                
Benefit obligation at beginning of year   $ 2,031     $ 1,846  
Service cost     2       2  
Interest cost     94       87  
Actuarial (gain) loss     577       (7 )
Effect of exchange rate changes     117       103  
Effect of curtailment            
Benefits paid            
Benefit obligation at end of year     2,821       2,031  
                 
Change in plan assets:                
Fair value of plan assets at beginning of year     1,630       1,455  
Actual return of plan assets     41       36  
Company contributions     43       42  
Benefits paid            
Effect of exchange rate changes     76       97  
Fair value of plan assets at end of year     1,790       1,630  
                 
Funded status     (1,031 )     (401 )
Unrecognized actuarial loss (gain)     922       317  
Unrecognized prior service (benefit) cost            
Additional minimum liability     (922 )     (317 )
Unrecognized transition (asset) liability            —  
Net amount recognized   $ (1,031 )   $ (401 )
                 
Plan Assets                
Pension plan assets were comprised of the following asset categories at December 31,                
Equity securities     10.4 %     11.5 %
Debt securities     83.1 %     81.0 %
Other     6.5 %     7.5  %
Total     100 %     100  %
                 
Components of net periodic benefit cost are as follows:                
Service cost   $ 2      $ 2  
Interest cost on projected benefit obligations     94       87  
Expected return on plan assets            
Amortization of prior service costs            
Amortization of actuarial loss            
Net periodic benefit costs   $ 96     $ 89  
                 
The weighted average assumptions used to determine net periodic benefit cost for the years ended December 31, were                
Discount rate     3.9 %     4.6 %
Expected return on plan assets     4 %     4 %
Rate of pension increases     2%       1%  
Rate of compensation increase     N/A       N/A  
The following discloses information about the Company’s defined benefit pension plan that had an accumulated benefit obligation in excess of plan assets as of December 31,                
Projected benefit obligation   $ 2,821      $ 2,031  
Accumulated benefit obligation   $ 2,821      $ 2,031  
Fair value of plan assets   $ 1,790      $ 1,630  
Benefit payments
2014     $  
2015     $ 18  
2016     $ 19  
2017     $ 101  
2018     $ 103  
2019 — 2023     $ 630