Weighted-average assumptions:

Benefit obligations:

Discount rate

9.0

%

8.0

%

Expected return on plan assets

9.5

%

9.0

%

Rate of compensation increases

5.0

%

5.0

%

Net periodic benefit cost:

Discount rate

8.0

%

8.5

%

Expected return on plan assets

9.0

%

9.0

%

Rate of compensation increases

5.0

%

5.0

%

Benefit obligation at beginning of year

$

12,296

$

11,568

Service cost

1,012

1,027

Interest cost

849

910

Benefits paid

(918

)

(303

)

Plan settlements

(655

)

—

Actuarial (gain) loss

16

(159

)

Currency translation adjustment

(602

)

(747

)

Benefit obligation at end of year

$

11,998

$

12,296

Fair value of plan assets at beginning of year

$

1,158

$

1,128

Actual return

118

113

Employer contribution

918

303

Benefits paid

(918

)

(303

)

Currency translation adjustment

(23

)

(83

)

Fair value of plan assets at end of year

$

1,253

$

1,158

Funded status – accrued benefit obligations

$

(10,745

)

$

(11,138

)

Amounts recognized in consolidated balance sheets:

Accrued payroll and benefits (current liabilities)

$

300

$

11,138

Post-employment benefits (noncurrent liabilities)

10,445

-

Net amount recognized

$

10,745

$

11,138