v2.4.0.8
Other Liabilities
6 Months Ended
Jun. 30, 2014
Other Liabilities [Abstract]  
Other Liabilities

Note 12 – Other Liabilities

Other liabilities are summarized as follows (dollars in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

June 30,
2014

 

December 31, 2013

Current liabilities

 

 

 

 

Lease liability

$

5,900 

$

5,900 

Security deposit payable

 

246 

 

246 

Other

 

59 

 

Other current liabilities

$

6,205 

$

6,155 

Other liabilities

 

 

 

 

Foreign withholding taxes

$

6,882 

$

6,748 

Straight-line rent liability

 

9,315 

 

9,259 

Environmental reserve

 

1,656 

 

1,656 

Accrued pension

 

7,555 

 

8,527 

Interest rate swap

 

3,218 

 

3,288 

Acquired leases

 

1,526 

 

1,797 

Other payable

 

847 

 

875 

Other

 

3,078 

 

599 

Deferred Revenue - Real Estate

 

6,179 

 

--

Other liabilities

$

40,256 

$

32,749 

 

Included in our other liabilities are accrued pension costs of $7.6 million at June 30, 2014.  The benefits of our pension plans are fully vested, and, as such, no service costs were recognized for the three or six months ended June 30, 2014 and 2013.  Our pension plans are unfunded; therefore, the actuarial assumptions do not include an estimate for any expected return on the plan assets.  For the three and six months ended June 30, 2014, we recognized $85,000 and $167,000, respectively, of interest cost and $235,000 and $472,000, respectively, of amortized prior service cost.  For the three and six months ended June 30, 2013, we recognized $74,000 and $165,000, respectively, of interest cost and $165,000 and $330,000, respectively, of amortized prior service cost.