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RETIREMENT BENEFIT PLANS (Tables) | 12 Months Ended
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Dec. 31, 2017
Retirement Benefits [Abstract] |
Schedule of Net Periodic Benefit Costs | Net periodic benefit costs for the Company’s defined benefit pension plans for the year ended December 31, 2017 included the following amounts (amounts in thousand):
Service cost | $ | 565 |
Interest cost | 95 |
Expected return on plan assets | (224 | )
Recognized net actuarial loss | 8 |
Net period benefit cost | $ | 444 |
Schedule of Weighted Average Assumptions Used | The following weighted average assumptions were used to develop net periodic pension benefit cost and the actuarial present value of projected pension benefit obligations for the year ended December 31, 2017:
Discount rate | 0.74 | %
Expected return on plan assets | 3.08 | %
Rate of compensation increase | 1.70 | %
Schedule of Benefit Obligations and Plan Assets | The following sets forth the change in projected benefit obligations and the change in plan assets for the years ended December 31, 2017 and a reconciliation of the funded status at December 31, 2017 (amounts in thousands):
Change In Projected Benefit Obligations |
Projected benefit obligation, beginning of year | $ | 668 |
Interest cost | 95 |
Service cost | 565 |
Actuarial loss | (12 | )
Employee contribution | 180 |
Premiums paid | (89 | )
Benefit payment | (19 | )
Transfer from Codman Neurosurgery acquisition | 46,448 |
Effect of foreign currency exchange rates | (175 | )
Projected benefit obligation, end of year | $ | 47,661 |
Change In Plan Assets |
Plan assets at fair value, beginning of year | $ | — |
Actual return on plan assets | 82 |
Employer contributions | 450 |
Employee contributions | 180 |
Premiums paid | (89 | )
Transfer from Codman Neurosurgery acquisition | 26,477 |
Effect of foreign currency exchange rates | (157 | )
Plan assets at fair value, end of year | $ | 26,943 |
Schedule of Funded Status |
Reconciliation Of Funded Status |
Fair value of plan assets | $ | 26,943 |
Benefit obligations | 47,661 |
Unfunded benefit obligation | $ | 20,718 |
Schedule of Expected Benefit Payments and Minimum Contribution on Unfunded Plans | The following table is the summary of expected future benefit payments (in thousands):
2018 | $ | 158 |
2019 | 225 |
2020 | 296 |
2021 | 454 |
2022 | 466 |
Next five years | 5,380 |

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- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + 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 (k) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
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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=82843861&loc=d3e2417-114920 + 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=82843861&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + 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 (h) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
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