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PENSION PLAN (Tables) | 12 Months Ended
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Dec. 31, 2018
Defined Benefit Plan [Abstract] |
Schedule of pension plan expenses | The components of the expense the Company incurred under the pension plan are as follows:
|  | For the Year Ended |  |  | Affected Line Item
|  | December 31, |  |  | in the Statements of
|  | 2018 |  |  | 2017 |  |  | Consolidated Operations
Current service cost, net of employee contributions |  | $ | 54 |  |  | $ | 42 |  |  | Selling, general and administrative
Interest cost on accrued benefit obligation |  |  | 98 |  |  |  | 103 |  |  | Other expense
Expected return on plan assets |  |  | (168 | ) |  |  | (163 | ) |  | Other expense
Amortization of transitional obligation |  |  | 10 |  |  |  | 10 |  |  | Other expense
Amortization of past service costs |  |  | 7 |  |  |  | 7 |  |  | Other expense
Amortization of net actuarial gain |  |  | 54 |  |  |  | 47 |  |  | Other expense
Total cost of benefit |  | $ | 55 |  |  | $ | 46 |  |
Schedule of reconciliation of projected benefit obligation | The Company’s obligations pursuant to the pension plan are as follows:
|  | December 31, |
|  | 2018 |  |  | 2017 |
Projected benefit obligation, at beginning of year |  | $ | 2,985 |  |  | $ | 2,628 |
Current service cost, net of employee contributions |  |  | 54 |  |  |  | 42 |
Employee contributions |  |  | 32 |  |  |  | 31 |
Interest cost |  |  | 98 |  |  |  | 103 |
Impact of change in discount rate |  |  | (219 | ) |  |  | 173 |
Benefits paid |  |  | (166 | ) |  |  | (180 | )
Foreign exchange adjustment |  |  | (229 | ) |  |  | 188 |
Projected benefit obligation, at end of year |  | $ | 2,555 |  |  | $ | 2,985 |
Schedule of expected benefit payments | A summary of expected benefit payments related to the pension plan is as follows:
Years Ending December 31, |  |  | Pension Plan |
2019 |  |  | $ | 152 |
2020 |  |  |  | 148 |
2021 |  |  |  | 145 |
2022 |  |  |  | 141 |
2023 |  |  |  | 137 |
2024-2028 |  |  |  | 660 |
Schedule of other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) | Other changes in plan assets and benefit obligations recognized in other comprehensive income / (loss) are as follows:
|  | For the Year Ended |
|  | December 31, |
|  | 2018 |  |  | 2017 |
Net income/(loss) |  | $ | 15 |  |  | $ | (199 | )
Amortization of prior service cost |  |  | 7 |  |  |  | 7 |
Amortization of gain |  |  | 54 |  |  |  | 47 |
Amortization of transitional asset |  |  | 10 |  |  |  | 10 |
|  |  | 86 |  |  |  | (135 | )
Taxes |  |  | 24 |  |  |  | (27 | )
Total recognized in other comprehensive income/(loss), net of taxes |  | $ | 62 |  |  | $ | (108 | )
Schedule of amounts not yet been recognized as components of net benefit cost included in accumulated other comprehensive income (loss) | The accumulated other comprehensive income / (loss) consists of the following amounts that have not yet been recognized as components of net benefit cost:
|  | December 31, |
|  | 2018 |  |  | 2017 |
Unrecognized prior service cost |  | $ | 81 |  |  | $ | 88 |
Unrecognized net actuarial loss |  |  | 1,442 |  |  |  | 1,508 |
Unrecognized transitional obligation |  |  | 35 |  |  |  | 46 |
Deferred income taxes |  |  | (413 | ) |  |  | (435 | )
Total |  | $ | 1,145 |  |  | $ | 1,207
Schedule of asset allocations | The asset allocation for the pension plan at the end of 2018 and 2017 and the target allocation for 2019, by asset category, is as follows:
|  | December 31, |  |  | 2019 Target |
|  | 2018 |  |  | 2017 |  |  | Allocation |
Equity securities |  |  | 36 | % |  |  | 34 | % |  |  | 36 | %
Fixed income securities |  |  | 56 |  |  |  | 57 |  |  |  | 56 |
Real estate |  |  | 8 |  |  |  | 7 |  |  |  | 8 |
Other |  |  | 0 |  |  |  | 2 |  |  |  | 0 |
Total |  |  | 100 | % |  |  | 100 | % |  |  | 100 | %
Schedule of fair value of plan assets | The fair market values, by asset category are as follows:
|  | Fair Value Measurements at |
|  | December 31, |
|  | 2018 |  |  | 2017 |
Equity securities |  | $ | 867 |  |  | $ | 919 |
Fixed income securities |  |  | 1,348 |  |  |  | 1,540 |
Real estate |  |  | 192 |  |  |  | 189 |
Other |  |  | — |  |  |  | 54 |
Total |  | $ | 2,407 |  |  | $ | 2,702 |
Schedule of changes in the assets held by the pension plan | Changes in the assets held by the pension plan in the years 2018 and 2017 are as follows:
|  | December 31, |
|  | 2018 |  |  | 2017 |
Fair value of plan assets, at beginning of year |  | $ | 2,702 |  |  | $ | 2,456 |
Actual return on plan assets |  |  | (35 | ) |  |  | 136 |
Employer contributions |  |  | 87 |  |  |  | 85 |
Employee contributions |  |  | 32 |  |  |  | 31 |
Benefits paid |  |  | (166 | ) |  |  | (180 | )
Foreign exchange adjustment |  |  | (213 | ) |  |  | 174 |
Fair value of plan assets, at end of year |  | $ | 2,407 |  |  | $ | 2,702 |
Schedule of funded status | The funded status of the pension plan is as follows:
|  | December 31, |
|  | 2018 |  |  | 2017 |
Projected benefit obligation |  | $ | 2,555 |  |  | $ | 2,985 |
Fair value of plan assets |  |  | 2,407 |  |  |  | 2,702 |
Accrued obligation (long term) |  | $ | 148 |  |  | $ | 283
Schedule of assumptions used in accounting for the pension plan | Assumptions used in accounting for the pension plan are as follows:
|  | December 31, |
|  | 2018 |  |  | 2017 |
Weighted average discount rate used to determine the accrued benefit obligations |  |  | 3.90 | % |  |  | 3.40 | %
Discount rate used to determine the net pension expense |  |  | 3.40 | % |  |  | 3.80 | %
Expected long-term rate on plan assets |  |  | 6.50 | % |  |  | 6.50 | %

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