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EMPLOYEE BENEFIT PLANS | 12 Months Ended
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Dec. 31, 2012
EMPLOYEE BENEFIT PLANS [Abstract] |
EMPLOYEE BENEFIT PLANS | NOTE 10: EMPLOYEE BENEFIT PLANS Employee Retirement Plan Effective May 9, 1997, the Company adopted a Defined Contribution 401(k) and Profit Sharing Plan (the "401(k) Plan") for its United States and Canada employees. The 401(k) Plan covers all regular full-time and part-time employees who have completed three months of service and attained the age of twenty-one. United States employees can contribute up to 100 percent of their annual compensation but are limited to the maximum annual dollar amount allowable under the Internal Revenue Code. The 401(k) plan permits matching and discretionary employer contributions. The Company's matching contributions for its United States and Canada employees vest ratably over a five-year period. During the years ended December 31, 2012 and 2011, the Company contributed approximately $0.1 million for each year to the 401(k) Plan for matching contributions. The Company also sponsors a non-U.S. defined benefit plan covering its employees in its Japan subsidiary (the "Benefit Plan"). Pension benefits under the Benefit Plan are based on years of service and annual salary. On July 1, 2012, the Company amended the Benefit Plan to convert the years of service and annual salary components of the Benefit Plan to a point system for position grade and years of service. The Company deferred a prior service cost gain of $0.7 million and was reflected in the projected benefit obligation ("BPO") for the year ended December 31, 2012. The Company utilizes actuarial methods. Inherent in the application of these actuarial methods are key assumptions, including, but not limited to, discount rates and expected long-term rates of return on plan assets. Changes in the related Benefit Plan costs may occur in the future due to changes in the underlying assumptions, changes in the number and composition of plan participants, and changes in the level of benefits provided. The Company uses a measurement date of December 31 to evaluate and record any post-retirement benefits related to the Benefit Plan. Projected Benefit Obligation and Fair Value of Plan Assets The Benefit Plan's projected benefit obligation and valuation of plan assets were as follows for the years ended December 31 (in thousands):
Projected benefit obligation: |  | 2012 |  |  | 2011 |
Balance, beginning of year |  | $ | 1,270 |  |  | $ | 1,008 |
Service cost |  |  | 169 |  |  |  | 186 |
Interest cost |  |  | 15 |  |  |  | 18 |
Liability (gains) and losses |  |  | 94 |  |  |  | 11 |
Benefits paid to participants |  |  | (71 | ) |  |  | (39 | )
Special termination benefit |  |  | 7 |  |  |  | 21 |
Prior service cost |  |  | (678 | ) |  |  | — |
Pension adjustment |  |  | — |  |  |  | 6 |
Foreign currency |  |  | (92 | ) |  |  | 59 |
Balance, end of year |  | $ | 714 |  |  | $ | 1,270 |
Plan assets: |  |  |  |  |  |  |  |
Fair value, beginning of year |  | $ | — |  |  | $ | — |
Company contributions |  |  | 71 |  |  |  | 39 |
Benefits paid to participants |  |  | (71 | ) |  |  | (39 | )
Fair value, end of year |  | $ | — |  |  | $ | — |
Funded status of the Benefit Plan as of December 31 (in thousands): |  | 2012 |  |  | 2011 |
Benefit obligation |  | $ | (714 | ) |  | $ | (1,270 | )
Fair value of plan assets |  |  | — |  |  |  | — |
Excess of benefit obligation over fair value of plan assets |  | $ | (714 | ) |  | $ | (1,270 | )
Amounts recognized in the accompanying Consolidated Balance Sheets consist of, as of December 31 (in thousands): |  | 2012 |  |  | 2011 |
Accrued benefit liability |  | $ | (714 | ) |  | $ | (1,270 | )
Transition obligation and unrealized gain |  |  | (682 | ) |  |  | (190 |
Net amount recognized in the consolidated balance sheets |  | $ | (1,396 | ) |  | $ | (1,460 | )
|  | Years Ended December 31, |
Other changes recognized in comprehensive income/loss (in thousands): |  | 2012 |  |  | 2011 |
Net periodic cost |  | $ | 158 |  |  | $ | 221 |
Current year actuarial (gain) loss |  |  | 94 |  |  |  | 11 |
Amortization of transition obligation |  |  | (5 | ) |  |  | (5 | )
Amortization of actuarial gain |  |  | — |  |  |  | 15 |
Total recognized in other comprehensive income |  |  | 89 |  |  |  | 21 |
Total recognized in comprehensive income (loss) |  | $ | 247 |  |  | $ | 242 |
|  | As of December 31, |
Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive gain/loss (in thousands): |  | 2012 |  |  | 2011 |
Transition obligation |  | $ | 168 |  |  | $ | 202 |
Prior service cost |  |  | 602 |  |  |  | — |
Net actuarial gain |  |  | (88 | ) |  |  | (12 | )
Total recognized in accumulated other comprehensive loss |  | $ | 682 |  |  | $ | 190 |
2013 estimated amounts of amortized transition obligation (in thousands): |  | 2013 |
Transition obligation |  | $ | (5 | )
|  | As of December 31, |
Aggregate Benefit Plan information and accumulated benefit obligation in excess of plan assets (in thousands): |  | 2012 |  |  | 2011 |
Projected benefit obligation |  | $ | 714 |  |  | $ | 1,270 |
Accumulated benefit obligation |  |  | 714 |  |  |  | 887 |
Fair value of plan assets |  |  | — |  |  |  | — |
The weighted-average assumptions to determine the benefit obligation and net cost are as follows:
|  | 2012 |  |  | 2011 |
Discount rate |  |  | 1.00 | % |  |  | 1.75 | %
Rate of increase in compensation levels |  |  | — |  |  |  | 3.0 | %
Components of Expense Pension expense for the Benefit Plan is included in selling, general and administrative expenses in the Consolidated Statements of Operations and is comprised of the following for the years ended December 31 (in thousands):
|  | 2012 |  |  | 2011 |
Service cost |  | $ | 169 |  |  | $ | 186 |
Interest cost |  |  | 15 |  |  |  | 18 |
Amortization of transition obligation |  |  | 5 |  |  |  | 5 |
Gain |  |  | (9 | ) |  |  | (15 | )
Special termination |  |  | 7 |  |  |  | 21 |
Prior service cost |  |  | (29 | ) |  |  | — |
Benefit adjustment |  |  | — |  |  |  | 6 |
Total pension expense |  | $ | 158 |  |  | $ | 221 |
Estimated Benefits and Contributions The Company expects to contribute approximately $61,000 to the Benefit Plan in 2013. As of December 31, 2012, benefits expected to be paid by the Benefit Plan for the next ten years is approximately as follows (in thousands):
2013 |  | $ | 61 |
2014 |  |  | 81 |
2015 |  |  | 130 |
2016 |  |  | 41 |
2017 |  |  | 35 |
Next five years |  |  | 124 |
Total expected benefits to be paid |  | $ | 472 |

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