Summary Of The Balance Sheet Impact, Including Benefit Obligations, Assets And Funded Status Of The Pension Plan |
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2012
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2011
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Change in benefit obligation:
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Benefit obligation at the beginning of the year
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$
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5,150,000
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$
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4,919,000
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Service cost
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275,000
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36,000
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Interest cost
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244,000
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240,000
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Participant contributions
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0
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15,000
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Augmentations
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0
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45,000
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Actuarial (gains)/losses
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325,000
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62,000
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Benefits paid
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(552,000)
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(162,000)
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Foreign currency gains
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233,000
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(5,000)
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Benefit obligation at the end of the year
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5,675,000
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5,150,000
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Change in plan assets:
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Fair value of plan assets at beginning of year
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6,056,000
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5,269,000
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Actual return on plan assets
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(289,000)
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892,000
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Employer contributions
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58,000
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48,000
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Participant contributions
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0
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15,000
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Benefits paid
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(552,000)
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(162,000)
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Foreign currency losses
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274,000
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(6,000)
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Fair value of plan assets at end of year
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5,547,000
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6,056,000
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Funded status at end of year – net asset /(liability)
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$
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(128,000)
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$
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906,000
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Summary Of Components Of Net Periodic Benefit Cost |
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2012
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2011
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2010
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Service cost
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$
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275,000
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$
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36,000
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$
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46,000
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Interest cost
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244,000
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240,000
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258,000
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Expected return on assets
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(262,000)
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(267,000)
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(244,000)
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Amortization of prior service cost
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-
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46,000
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Net periodic pension cost
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$
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257,000
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$
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55,000
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$
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60,000
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