Defined Benefit Pension Obligation (Tables)

12 Months Ended

Dec. 31, 2013

Summarized Information on Changes in Plan Obligations and Plan Assets

Summarized information regarding changes in the plan obligations and plan assets, the funded status and the amounts recorded as of December 31, 2013 is as follows:

In thousands
Changes in benefit obligation
Benefit obligation at plan establishment	$	5,621
Service cost		994
Interest cost		105
Plan participants’ contributions		283
Actuarial gain		(192	)
Benefits received		1,065
Benefit obligation as of December 31, 2013		7,876
Changes in plan assets
Fair value of plan assets at plan establishment		3,853
Actual return on plan assets		77
Employer contributions		720
Plan participants’ contributions		283
Benefits received		1,065
Fair value of plan assets as of December 31, 2013		5,998
Unfunded liability as of December 31, 2013	$	1,878

Accumulated and Projected Benefit Obligations and Fair Value of Plan Assets

The projected benefit obligation, the accumulated benefit obligation and the fair value of the plan assets as of December 31, 2013 were as follows:

In thousands
Projected benefit obligation	$	7,876
Accumulated benefit obligation	$	7,947
Fair value of plan assets	$	5,998

Net Periodic Benefit Cost for Defined Benefit Pension Plan

The net periodic benefit cost for the defined benefit pension plan for the year ended December 31, 2013 was as follows:

In thousands
Service cost	$	994
Interest cost		105
Expected return on plan assets		(85	)
Amortization of prior service cost		134
Net periodic benefit cost	$	1,148

Changes in Plan Assets and Benefit Obligation Recognized in Accumulated Other Comprehensive Income

Other changes in the plan assets and the benefit obligation that are recognized in accumulated other comprehensive income (loss) and other comprehensive loss for the year ended December 31, 2013 were as follows:

In thousands
Establishment of plan	$	(1,768	)
Net gain		139
Amortization of prior service cost		134
Total	$	(1,495	)

Assumptions Used to Determine Benefit Obligation and Net Periodic Benefit Costs

The assumptions used to determine the benefit obligation at December 31, 2013 were as follows:

Discount rate	2.25	%
Rate of compensation increase	1.50	%

The assumptions used to determine net periodic benefit costs for 2013 were as follows:

Discount rate	2.00	%
Expected long-term return on plan assets	2.00	%
Rate of compensation increase	1.50	%

Benefit payments Expected to be Paid for Expected Future Service

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:

In thousands
2014	$	370
2015		423
2016		456
2017		486
2018		509
2019 - 2023		2,631
Total	$	4,875