XML 59 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
Pension And Post-Retirement Benefits
 3 Months Ended
Mar. 31, 2013
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]  
Pension And Post-Retirement Benefits
Pension and Post-retirement Benefits
The components of net periodic benefit cost for the three months ended March 31, 2013 and 2012 are as follows:
 
 
Pension Plans
 
Post-Retirement
Medical  Benefit Plans
 
United States
 
International
 
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Service cost
$
—

 
$
2

 
$
3

 
$
2

 
$
—

 
$
—

Interest cost
2

 
2

 
2

 
2

 
—

 
1

Expected return on plan assets
(3
)
 
(3
)
 
(3
)
 
(2
)
 
—

 
—

Amortization
1

 
1

 
1

 
1

 
—

 
—

Net periodic benefit cost
$
—

 
$
2

 
$
3

 
$
3

 
$
—

 
$
1

Pension and post-retirement benefits liabilities consisted of the following as of the dates noted:
 
 
March 31,
2013
 
December 31, 2012
 
 
Retiree medical liability
$
47

 
$
47

Pension liability
88

 
91

Subtotal
135

 
138

Less: current portion (included in other current liabilities)
(3
)
 
(3
)
Pension and post-retirement benefits liabilities
$
132

 
$
135


In the fourth quarter of 2012, the Board approved and management communicated changes to our U.S. defined benefit pension plan so that, effective December 31, 2012, the pension plan would be frozen and future retirement service benefits would no longer be accrued under this program. Effective January 1, 2013, the affected employees were eligible for additional contributions under an enhanced defined contribution plan. As a result of the freeze, participants under the plan are no longer accruing service based benefits and are being treated as inactive for accounting purposes. The Company will amortize accumulated unrecognized losses over the remaining estimated life of participants of approximately 38 years as of March 31, 2013.
The Company is not required to make a contribution to its U.S. pension plan in 2013. The Company contributed $2 to its international pension plans in the three months ended March 31, 2013. In total, the Company expects to contribute approximately $8 to its defined benefit pension plans in 2013.
The Company's 401(k) retirement savings plan provides retirement benefits to eligible U.S. employees in addition to those provided by the pension plan. The plan permits participants to voluntarily defer a portion of their compensation, subject to
Internal Revenue Code limitations. The Company also contributes a fixed amount per year to the account of each eligible employee plus a percentage of the employee's salary deferral. The cost for this plan was $6 and $2, respectively, for the three months ended March 31, 2013 and 2012.