Defined Benefit Pension Obligation (Tables)

12 Months Ended

Dec. 31, 2014

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, 2014 is as follows:

In thousands	2014			2013
Benefit obligation, beginning of year	$	7,876		$	—
Benefit obligation at plan establishment		—			5,621
Service cost		1,081			994
Interest cost		163			105
Plan participants’ contributions		486			283
Actuarial loss (gain)		3,057			(192	)
Employee vested funds brought to plan, net		2,183			1,065
Translation gain		(636	)
Benefit obligation, end of year		14,210			7,876
Fair value of plan assets, beginning of year		5,998			—
Fair value of plan assets at plan establishment		—			3,853
Actual return on plan assets		130			77
Employer contributions		1,285			720
Plan participants’ contributions		483			283
Employee vested funds brought to plan, net		2,183			1,065
Translation loss		(459	)		—
Fair value of plan assets, end of year		9,620			5,998
Unfunded liability as of December 31, 2014	$	4,590		$	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, 2014 and 2013 were as follows:

In thousands	2014		2013
Projected benefit obligation	$	14,210	$	7,876
Accumulated benefit obligation	$	13,839	$	7,947
Fair value of plan assets	$	9,619	$	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, 2014 and 2013 were as follows:

In thousands	2014			2013
Service cost	$	1,081		$	994
Interest cost		163			105
Expected return on plan assets		(137	)		(85	)
Amortization of prior service cost		150			134
Net periodic benefit cost	$	1,257		$	1,148

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

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 years ended December 31, 2014 and 2013 were as follows:

In thousands	2014			2013
Pension liability OCI, beginning of year	$	(1,495	)
Establishment of plan		—		$	(1,768	)
Net gain		(3,014	)		139
Amortization of prior service cost		150			134
Total	$	(4,359	)	$	(1,495	)

Assumptions Used to Determine Benefit Obligation and Net Periodic Benefit Costs

The assumptions used to determine the benefit obligation at December 31, 2014 and 2013 were as follows:

	2014			2013
Discount rate		1.25	%		2.25	%
Rate of compensation		1.50	%		1.50	%

The assumptions used to determine net periodic benefit costs for 2014 and 2013 were as follows:

	2014			2013
Discount rate		1.25	%		2.00	%
Expected long-term return on plan		1.25	%		2.00	%
Rate of compensation increase		1.50	%		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
2015	$	588
2016		639
2017		678
2018		704
2019		730
2020-2024		4,126
	$	7,465