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Pension benefits (Tables)

12 Months Ended

Dec. 31, 2013

Compensation and Retirement Disclosure [Abstract]

Schedule of Accumulated and Projected Benefit Obligations [Table Text Block]

The following table summarizes the amounts recognized in accumulated other comprehensive income (loss), net of taxes (in thousands):

		Years Ended December 31,
		2013			2012			2011
Amortization of transition obligation		$	112		$	90		$	89
Actuarial loss			(185)			(228)			(373)
Totals		$	(73)		$	(138)		$	(284)

Amounts in accumulated other comprehensive income (loss) not yet reflected in net periodic pension cost, net of taxes:

Actuarial gain		$	178		$	173
Transition obligation			(294)			(216)
Totals		$	(116)		$	(43)

Amounts in accumulated other comprehensive income (loss) expected to be amortized in 2014 net periodic pension cost, net of taxes:

Transition obligation		$	43
Totals		$	43

Schedule of Changes in Accumulated Postemployment Benefit Obligations [Table Text Block]

The following table sets out the status of the non-U.S pension benefits and the amounts (in thousands) recognized in the Company’s consolidated financial statements for each of the three years ended December 31, 2013:

Benefit Obligations:

Change in the Benefit Obligation:			2013			2012			2011
Projected benefit obligation at beginning of the year		$	3,552		$	2,695		$	2,074
Service cost			517			420			332
Interest cost			238			218			186
Actuarial loss			115			186			299
Curtailments			(328)			-			-
Foreign currency exchange rate changes			(359)			101			(100)
Benefits paid			(83)			(68)			(96)
Projected benefit obligation at end of year		$	3,652		$	3,552		$	2,695

Schedule of Net Benefit Costs [Table Text Block]

Components of Net Periodic Pension Cost:

			2013			2012			2011
Service cost		$	517		$	420		$	332
Interest cost			238			218			186
Curtailments			(328)			-			-
Actuarial (gain) loss recognized			92			30			(17)
Net periodic pension cost		$	519		$	668		$	501

Schedule of Assumptions Used [Table Text Block]

The assumptions for each of the three years ended December 31, 2013 are as follows:

		2013		2012		2011
Discount rate		4.8%-12%		5.8%-14%		7.2%-9.5%
Rate of increase in compensation levels		7%-9%		7%-9%		7%-9%

Schedule of Expected Benefit Payments [Table Text Block]

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

Years Ending December 31,
2014		$	202
2015			231
2016			109
2017			86
2018			229
2019 to 2023			574
		$	1,431

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Tabular disclosure of benefit obligations including accumulated benefit obligation and projected benefit obligation.

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

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