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RETIREMENT PLANS
12 Months Ended
Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]  
RETIREMENT PLANS [Text Block]
RETIREMENT PLANS:

The Company sponsors a defined benefit pension plan (Pension Plan) for its Swiss subsidiary in accordance with the legal requirements of Switzerland. The plan assets, which provide benefits in the event of an employee’s retirement, death or disability, are held in legally autonomous trustee-administered funds that are subject to Swiss law. Benefits are based on the employee’s age, years of service and salary, and the plan is financed by contributions by both the employee and the Company.

The net periodic benefit cost of the Pension Plan was not material to the Company's financial statements during the years ended December 31, 2016, 2015 and 2014. At December 31, 2016, the projected benefit obligation was $11.8 million, the plan assets were $7.9 million and the net pension liability was $3.9 million. As of December 31, 2015, the projected benefit obligation was $9.0 million, the plan assets were $6.0 million, and the net pension liability was $3.0 million. The Company has recorded the unfunded amount as a liability in its consolidated balance sheet at December 31, 2016 and 2015, under the other liabilities caption. The Company expects to make contributions to the Pension Plan of approximately $0.4 million during 2017. The unrealized actuarial loss on pension benefits, net of tax at December 31, 2016, 2015 and 2014 was $1.9 million, $1.6 million and $1.2 million, respectively. These amounts were reflected in Note 2 above under the caption accumulated other comprehensive loss.

In accordance with the Compensation-Retirement Benefits Topic of ASC 715-20, Defined Benefits Plan, the Company recognizes the over-funded or under-funded status of its defined post-retirement plan as an asset or liability in its statement of financial position. The company measured the plan assets and benefit obligations as of the date of the fiscal year-end.