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Other Liabilities
12 Months Ended
Dec. 31, 2012
Other Liabilities Disclosure [Abstract]  
Other Liabilities

NOTE 8 — OTHER LIABILITIES

 

The Company has an obligation to a former owner of a business which was once owned by the Company to pay an inflation linked monthly sum for as long as the former owner survives. The liability is calculated by reference to actuarial data relating to life expectancy. The expected payments are discounted by the Company’s weighted average cost of capital. The liability at December 31, 2012 was $689,000, disclosed in Other current liabilities $274,000 and Other liabilities $415,000. At December 31, 2011 the comparative figures were, Other current liabilities, $269,000 and Other liabilities $267,000.