Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2013

Employee Benefit Plans

Schedule of reconciliation of the beginning and ending balances of the projected benefit obligation

A reconciliation of the beginning and ending balances of the projected benefit obligation is presented below (in thousands):

	Year Ended December 31,
	2013			2012
Projected benefit obligation at the beginning of the year	$	47,206		$	32,952
Service cost		5,406			4,315
Interest cost		1,584			1,475
Actuarial (gain) loss		(3,162	)		8,464
Projected benefit obligation at the end of the year	$	51,034		$	47,206
Fair value of plan assets at the end of the year		—			—
Unfunded at end of the year(1)	$	51,034		$	47,206

(1)

Included within other liabilities on our consolidated balance sheets.

Schedule of future estimated benefit payments, based on current assumptions, including election of lump-sum distributions and expected future service

Future estimated benefit payments, based on current assumptions, including election of lump-sum distributions and expected future service, are as follows (in thousands):

Year Ended December 31,
2014	$	—
2015		23,502
2016		—
2017		—
2018		—
2019-2023		29,330
	$	52,832

Schedule of weighted-average assumptions used to measure the SERP obligation

	Year Ended December 31,
	2013			2012
Discount Rate		4.34	%		3.36	%
Salary Increases		5.00	%		5.00	%

Schedule of components of net periodic pension cost recognized

The components of net periodic pension cost recognized on our consolidated statement of operations consist of the following (in thousands):

	Year Ended December 31,
	2013		2012		2011
Service cost	$	5,406	$	4,315	$	4,255
Interest cost		1,584		1,475		1,356
Amortization of prior service cost		827		827		773
Amortization of net actuarial loss		794		—		91
Total	$	8,611	$	6,617	$	6,475

Schedule of components reclassified from accumulated other comprehensive loss

Reclassification adjustments related to the SERP from accumulated other comprehensive loss to the statement of operations by line item and the tax impact of these reclassifications is presented below (in thousands):

Components Reclassified from Accumulated Other Comprehensive Loss(1)	As of December 31, 2013
Prior service cost:
Research and development	$	312
Selling, general and administrative		515
Total		827
Amortization of net actuarial loss:
Research and development		300
Selling, general and administrative		494
Total		794
Total prior service cost and amortization of net actuarial loss		1,621
Tax benefit		(601	)
Total, net of tax	$	1,020

(1)

Refer to Note 12—Accumulated Other Comprehensive Loss.

Schedule of amounts recognized in other comprehensive gain (loss)

Amounts relating to the SERP that have been recognized in other comprehensive gain (loss) are as follows (in thousands):

	Year Ended December 31,
	2013			2012			2011
Net unrecognized actuarial gain (loss)	$	3,956		$	(8,464	)	$	773
Net unrecognized prior service cost		827			827			(824	)
Total		4,783			(7,637	)		(51	)
Tax		(1,688	)		2,807			44
Total, net of tax	$	3,095		$	(4,830	)	$	(7	)

Schedule of amounts included in accumulated other comprehensive loss that have not yet been recognized as a component of net periodic pension cost

The table below presents amounts relating to the SERP included in accumulated other comprehensive loss that have not yet been recognized as a component of net periodic pension cost on our consolidated statements of operations (in thousands):

	Year Ended December 31,
	2013			2012			2011
Net unrecognized actuarial loss	$	7,803		$	11,758		$	3,295
Net unrecognized prior service cost		5,698			6,525			7,352
Total		13,501			18,283			10,647
Tax		(5,074	)		(6,743	)		(3,936	)
Total, net of tax	$	8,427		$	11,540		$	6,711

Schedule of estimated amounts included in accumulated other comprehensive income that are expected to be recognized as components of net periodic pension expense

Estimated amounts included in accumulated other comprehensive income as of December 31, 2013 that are expected to be recognized as components of net periodic pension expense on our statement of operations for the year ended December 31, 2014 comprise the following (in thousands):

Amortization of prior service cost	$	827
Amortization of net actuarial loss		333
Total	$	1,160