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Executive Nonqualified Defined Benefit Plan (Tables) | 12 Months Ended
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Dec. 31, 2013
Benefit Obligation, Amounts Recognized Company's Financial Statements and Principal Assumptions | The Company records a projected benefit obligation representing the present value of future plan benefits when earned by the participant. The following table sets forth the benefit obligation, amounts recognized in the Company’s financial statements and the principal assumptions used:
|  | 2013 |  |  | 2012 |
Change in projected benefit obligation: |  |  |  |  |  |  |  |
Benefit obligation at beginning of year |  | $ | 1,633 |  |  | $ | 1,142 |
Service cost |  |  | 355 |  |  |  | 317 |
Interest cost |  |  | 53 |  |  |  | 45 |
Actuarial loss |  |  | (193 | ) |  |  | 129 |
Net periodic benefit cost |  |  | 215 |  |  |  | 491 |
Benefit obligation at end of year |  | $ | 1,848 |  |  | $ | 1,633 |
Fair Value of Plan Assets | The following table sets forth the fair value of the plan assets for the periods ending December 31, 2013 and 2012:
|  | 2013 |  |  | 2012 |
Change in plan assets: |  |  |  |  |  |  |  |
Plan assets at beginning of year |  | $ | 1,548 |  |  | $ | 1,098 |
Actual return on plan assets |  |  | 59 |  |  |  | 41 |
Net contributions |  |  | 664 |  |  |  | 386 |
Actuarial loss |  |  | (24 | ) |  |  | (11 | )
Exchange rate impact |  |  | 93 |  |  |  | 34 |
Plan assets at end of year |  | $ | 2,340 |  |  | $ | 1,548 |
Actuarial Assumptions Used to Determine Benefit Obligation and Net Periodic Service Cost | The W.E.T. defined benefit plan is underfunded by $3,679 and $3,844 as of December 31, 2013 and 2012, respectively. The portion of the net benefit obligation payable within the next 12 months is included in the Company’s consolidated balance sheet within accrued liabilities. The long-term portion of the net benefit obligation is included in pension benefit obligation. The net periodic benefit cost is included in selling, general and administrative expenses in the Company’s consolidated statements of income. The following table describes the actuarial assumptions used to determine the benefit obligation and the net periodic service cost:
|  | 2013 |
Discount rate |  |  | 3.46 | %
Expected long term rate of return on plan assets |  |  | 3.80 | %
Schedule of Expected Pension Payments | The schedule of expected pension payments made to W.E.T. defined benefit plan participants over the next 10 years is as follows:
Year |  |  |
2014 |  | $ | 302 |
2015 |  |  | 303 |
2016 |  |  | 302 |
2017 |  |  | 302 |
2018 |  |  | 300 |
2019 - 2023 |  |  | 1,473 |
Total |  | $ | 2,982 |
W.E.T |
Benefit Obligation, Amounts Recognized Company's Financial Statements and Principal Assumptions | W.E.T. records a projected benefit obligation representing the present value of future plan benefits when earned by the participant. The following table sets forth the benefit obligation and amounts recognized in the Company’s financial statements:
|  | 2013 |  |  | 2012 |
Change in projected benefit obligation: |  |  |  |  |  |  |  |
Benefit obligation at beginning of year |  | $ | 5,392 |  |  | $ | 4,250 |
Service cost |  |  | — |  |  |  | 199 |
Interest cost |  |  | 180 |  |  |  | 195 |
Paid pension distributions |  |  | (291 | ) |  |  | (277 | )
Actuarial (gains)/losses |  |  | 43 |  |  |  | 912 |
Past service cost |  |  | 445 |  |  |  | — |
Exchange rate impact |  |  | 250 |  |  |  | 113 |
Benefit obligation at end of year |  | $ | 6,019 |  |  | $ | 5,392 |

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- Definition Tabular disclosure of the aggregate benefit obligation and aggregate fair value of plan assets for pension plans and/or other employee benefit plans with benefit obligations in excess of plan assets as of the measurement date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e2417-114920 + Details
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- Definition Tabular disclosure of the changes in plan assets and benefit obligations recognized in other comprehensive income (loss) during the period. + References No definition available. + Details
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- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income or loss that have not yet been recognized as components of net periodic benefit cost, such as the net gain (loss), net prior service cost or credit, and net transition asset or obligation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (j) -URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920 + Details
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