Executive Nonqualified Defined Benefit Plan (Tables)

12 Months Ended

Dec. 31, 2012

The following table sets forth the benefit obligation, amounts recognized in the Company’s financial statements and the principal assumptions used:


	2012		2011		2010
Change in projected benefit obligation:
Benefit obligation at beginning of year	$	1,142	$	688	$	377
Service cost		317		263		228
Interest cost		45		36		23
Actuarial loss		129		155		60

Net periodic benefit cost		491		454		311

Benefit obligation at end of year	$	1,633	$	1,142	$	688

The following table sets forth the fair value of the plan assets from the date of acquisition to December 31, 2012:


	2012			2011
Change in plan assets:
Plan assets at beginning of year	$	1,098		$	943
Expected return on plan assets		41			21
Net contributions		386			148
Actuarial loss		(11	)		(4	)
Exchange rate impact		34			—

Plan assets at end of year	$	1,548		$	1,098

The following table describes the actuarial assumptions used to determine the benefit obligation and the net periodic service cost:


	2012
Discount rate		3.41	%
Expected long term rate of return on plan assets		3.80	%

The schedule of expected pension payments made to W.E.T. defined benefit plan participants over the next 10 years is as follows:

W.E.T.

The following table sets forth the benefit obligation and amounts recognized in the Company’s financial statements:


	2012			2011
Change in projected benefit obligation:
Benefit obligation at beginning of year	$	4,250		$	4,280
Service cost		199			7
Interest cost		195			118
Paid pension distributions		(277	)		(167	)
Actuarial (gains)/losses		912			(55	)
Past service cost		—			67
Exchange rate impact		113			—

Benefit obligation at end of year	$	5,392		$	4,250