XML 112 R38.htm IDEA: XBRL DOCUMENT v2.4.0.8
Retirement Plans (Tables) (Domestic Retirement Plans)
12 Months Ended
Dec. 31, 2013
Domestic Retirement Plans
 
Domestic Retirement Plan's Financial Status and Amounts Recognized in Consolidated Balance Sheets
The following table sets forth the Domestic Retirement Plan’s financial status and the amounts recognized in our consolidated balance sheets:
 
December 31,
2013
 
2012
Change in benefit obligation
 
 
 
Benefit obligation, beginning of year
$
46,759

 
$
41,170

Service cost

 
130

Interest cost
1,608

 
1,616

Actuarial (gain) loss
(4,700
)
 
6,125

Benefits paid
(1,656
)
 
(1,644
)
Curtailment gain

 
(638
)
Benefit obligation, end of year
$
42,011

 
$
46,759

Change in plan assets
 
 
 
Fair value of plan assets, beginning of year
$

 
$

Employer contribution
1,656

 
1,644

Benefits paid
(1,656
)
 
(1,644
)
Fair value of plan assets, end of year
$

 
$

Funded status at December 31
$
(42,011
)
 
$
(46,759
)
Amounts recognized in the consolidated balance sheets
 
 
 
Other current liabilities
$
(1,831
)
 
$
(1,643
)
Other liabilities
(40,178
)
 
(45,115
)
Accumulated other comprehensive loss
10,849

 
16,915

Net amount recognized
$
(31,160
)
 
$
(29,843
)
Accumulated benefit obligation
$
42,011

 
$
46,759

Weighted average assumptions used to determine benefit obligation
 
 
 
Discount rate
4.50
%
 
3.50
%
Rate of increase in compensation levels
N/A

 
N/A

Components of Net Periodic Benefit Cost for Domestic Retirement Plan
The components of net periodic benefit cost for the Domestic Retirement Plan, which is included in selling, general, and administrative expenses in the consolidated statements of income, are as follows:
 
Year ended December 31,
2013
 
2012
 
2011
Service cost
$

 
$
130

 
$
1,302

Interest cost
1,608

 
1,616

 
1,805

Amortization of prior service cost

 

 
293

Recognized net actuarial loss
1,366

 
971

 
582

Curtailment loss

 
234

 

Net periodic benefit cost
$
2,974

 
$
2,951

 
$
3,982

Weighted average assumptions used to determine net periodic benefit cost
 
 
 
 
 
Discount rate
3.50
%
 
4.00
%
 
5.20
%
Rate of increase in future compensation levels
N/A

 
3.00
%
 
3.00
%
Amounts Recognized As Component of Accumulated Other Comprehensive Loss, Domestic
Year ended December 31,
2013
 
2012
Net actuarial loss
$
(10,848
)
 
$
(16,915
)
Prior service cost

 

Deferred tax benefit
4,231

 
6,597

Amounts included in accumulated other comprehensive income (loss), net of tax
$
(6,617
)
 
$
(10,318
)
Expected Benefit Payments Required For Domestic Retirement Plan
As of December 31, 2013, the expected benefit payments required for each of the next five years and the five-year period thereafter for the Domestic Retirement Plan are as follows:
 
Year
 
2014
$
1,872

2015
1,987

2016
2,097

2017
2,193

2018
2,295

2019-2023
13,308