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Employee Benefits (Tables) | 12 Months Ended
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Dec. 31, 2013
Pension Costs of Plan | The pension costs of this plan are presented in the following tables in accordance with the requirements of ASC 715-60, Defined Benefit Plans – Other Postretirement. The plan has been closed to new entrants with effect from July 1, 2003.
Change in benefit obligation |  | December 31, 2013 |  |  | December 31, 2012 |
|  | (in thousands) |
Benefit obligation at beginning of year |  | $ | 22,527 |  |  | $ | 19,924 |
Service cost |  |  | 251 |  |  |  | 242 |
Interest cost |  |  | 1,005 |  |  |  | 964 |
Plan participants’ contributions |  |  | 75 |  |  |  | 101 |
Benefits paid |  |  | (105 | ) |  |  | (237 | )
Actuarial loss |  |  | 680 |  |  |  | 405 |
Foreign currency exchange rate changes |  |  | 525 |  |  |  | 1,128 |
Benefit obligation at end of year |  | $ | 24,958 |  |  | $ | 22,527 |
Change in plan assets |  | December 31, 2013 |  |  | December 31, 2012 |
|  | (in thousands) |
Fair value of plan assets at beginning of year |  | $ | 17,807 |  |  | $ | 15,021 |
Actual return on plan assets |  |  | 2,916 |  |  |  | 1,810 |
Employer contributions |  |  | 224 |  |  |  | 239 |
Plan participants’ contributions |  |  | 75 |  |  |  | 101 |
Benefits paid |  |  | (105 | ) |  |  | (237 | )
Foreign currency exchange rate changes |  |  | 505 |  |  |  | 873 |
Fair value of plan assets at end of year |  | $ | 21,422 |  |  | $ | 17,807 |
Funded Status |
Funded status |  | December 31, 2013 |  |  | December 31, 2012 |
|  | (in thousands) |
Projected benefit obligation |  | $ | (24,958 | ) |  | $ | (22,527 | )
Fair value of plan assets |  |  | 21,422 |  |  |  | 17,807 |
Funded status |  | $ | (3,536 | ) |  | $ | (4,720 | )
Non-current other liabilities |  | $ | (3,536 | ) |  | $ | (4,720 | )
Components of Net Periodic Benefit Cost | The following amounts were recorded in the consolidated statement of operations as components of the net periodic benefit cost:
|  | December 31, 2013 |  |  | December 31, 2012 |  |  | December 31, 2011 |
|  | (in thousands) |
Service cost |  | $ | 251 |  |  | $ | 242 |  |  | $ | 212 |
Interest cost |  |  | 1,005 |  |  |  | 964 |  |  |  | 931 |
Expected return on plan assets |  |  | (983 | ) |  |  | (895 | ) |  |  | (1,141 | )
Amortization of net loss |  |  | 130 |  |  |  | 179 |  |  |  | - |
Net periodic benefit cost |  | $ | 403 |  |  | $ | 490 |  |  | $ | 2 |
Amounts Recognized In Accumulated Other Comprehensive Income Which Have Not Yet Been Recognized as Components Of Net Periodic Benefit Cost | Amounts recognized in accumulated other comprehensive income that have not yet been recognized as components of net periodic benefit cost are as follows:
|  | December 31, 2013 |  |  | December 31, 2012 |  |  | December 31, 2011
|  | (in thousands)
Net actuarial loss |  | $ | 1,988 |  |  | $ | 3,371 |  |  | $ | 4,060 |
Total |  | $ | 1,988 |  |  | $ | 3,371 |  |  | $ | 4,060 |
Assumptions Used in Calculating Pension Benefit Obligations | The following assumptions were used in determining the benefit obligation at December 31, 2013:
|  | December 31, |  |  | December 31, |
|  | 2013 |  |  | 2012 |
Discount rate |  |  | 4.7 | % |  |  | 4.6 | %
Rate of compensation increase |  |  | 4.0 | % |  |  | 3.4 | %
Expected Long Term Rates of Return on Different Asset Classes | The expected long term rates of return on different asset classes are as follows:
Asset Category |  | Expected long-term return per annum |
Equity |  |  | 6.6 | %
Bonds |  |  | 4.7 | %
Underlying Asset Split of Fund | The underlying asset split of the fund is shown below.
Asset Category |  | December 31, 2013 |  |  | December 31, 2012 |
Equity |  |  | 70 | % |  |  | 90 | %
Bonds |  |  | 30 | % |  |  | 10 | %
|  |  | 100 | % |  |  | 100 | %
Annual Benefit Payments which Reflect Expected Future Service | The following annual benefit payments, which reflect expected future service as appropriate, are expected to be paid.
|  | (in thousands) |
2013 |  | $ | 108 |
2014 |  |  | 108 |
2015 |  |  | 108 |
2016 |  |  | 108 |
2017 |  |  | 108 |
Years 2018 - 2022 |  | $ | 538 |
Pension Plans, Defined Benefit |
Assumptions Used in Calculating Net Periodic Benefit Cost | The following assumptions were used at the commencement of the year in determining the net periodic pension benefit cost for the years ended December 31, 2011, December 31, 2012 and December 31, 2013:
|  | December 31, |  |  | December 31, |  |  | December 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
Discount rate |  |  | 4.6 | % |  |  | 4.7 | % |  |  | 5.4 | %
Rate of compensation increase |  |  | 3.4 | % |  |  | 3.5 | % |  |  | 4.0 | %
Expected rate of return on plan assets |  |  | 5.7 | % |  |  | 5.8 | % |  |  | 7.1 | %
Accumulated other comprehensive income |  | December 31, 2013 |  |  | December 31, 2012 |  |  | December 31, 2011 |
|  | (in thousands) |
Actuarial loss - benefit obligation |  | $ | 680 |  |  | $ | 405 |  |  | $ | 2,621 |
Actuarial (gain)/loss – plan assets |  |  | (1,933 | ) |  |  | (915 | ) |  |  | 1,744 |
Actuarial gain recognized in net periodic benefit cost |  |  | (130 | ) |  |  | (179 | ) |  |  | - |
Total |  | $ | (1,383 | ) |  | $ | (689 | ) |  | $ | 4,365 |
Fair Value, Inputs, Level 1 |
Plan Asset Fair Value Measurements | Plan Asset Fair Value Measurements
|  | Quoted Prices in Active Markets for Identical Assets |
|  | Level 1 |
|  | (in thousands) |
Cash |  | $ | 58 |
Fixed Income Securities |  |  |  |
Legal and General Active Corporate Bond – Over 10 Year |  |  | 5,788 |
Other Types of Investments |  |  |  |
Baillie Gifford Diversified Growth Fund |  |  | 8,452 |
Standard Life Global Absolute Return Strategies |  |  | 7,124 |
|  | $ | 21,422 |

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