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Business Combinations
12 Months Ended
Dec. 31, 2013
Business Combinations [Abstract]  
Business Combinations

Note N – Business Combinations

The Company acquired Australian Electricity Systems PTY Ltd (AES) on January 31, 2012, pursuant to the Purchase Agreement, the Company acquired all of the outstanding shares of AES for $6.3 million Australian dollars including acquired cash of $1.8 million Australian dollars, net of customary post-working capital adjustments of $.5 million Australian dollars. As part of the purchase agreement to acquire AES, the Company recorded on January 31, 2012 a $1.1 million Australian dollars earn-out consideration payment. This amount represented the fair value of the earn-out consideration based on AES achieving a financial performance target over the twelve months ended June 30, 2012. The fair value of the contingent consideration arrangement was determined by estimating the (probability-weighted) expected earn-out payment discounted to present value and is considered a level three input. The parties agreed this contingent consideration was $.4 million which was included in the Accrued expenses and other liabilities line on the Consolidated Balance Sheet at December 31, 2012. The Company paid this $.4 million consideration to the former owner in April 2013. The acquisition of AES was immaterial to the Company. AES is reported as part of the Company’s Asia-Pacific segment.