The following table summarizes the change in the projected benefit obligation and the fair value of plan assets for the years ended  December 31, 2013 and 2012 (in thousands): The following actuarial assumptions were used to determine the actuarial present value of our projected benefit obligation at  December 31, 2013 and 2012: The discount rate used to determine our projected benefit obligation at December 31, 2013 was increased from 3.60% to 3.70%,  consistent with a general increase in interest rates in Europe for AAA-rated long-term Euro government bonds. Amounts recognized for the Dutch Plan in the Consolidated Balance Sheets for the years ended December 31, 2013 and 2012 consist  of (in thousands): 51 2013 2012 Deferred tax asset $ 2,488 $   268 Other long-term liabilities 9,952 8,783 Accumulated other comprehensive loss (8,626) (8,413) 2013 2012 Weighted average assumed discount rate 3.70% 3.60% Weighted average rate of compensation increase 3.00% 3.00% 2013 2012 Projected Benefit Obligation: Projected benefit obligation at beginning of year $ 46,876 $ 34,304 Service cost 1,582 1,127  Interest cost 1,676 1,684 Prior service cost (credit) arising during year (583) — Benefits paid (1,078) (910) Administrative expenses (199) (181) Actuarial (gain) loss, net (843) 10,009 Unrealized loss on foreign exchange 2,025 843  Projected benefit obligation at end of year $ 49,456 $ 46,876 Fair Value of Plan Assets: Fair value of plan assets at beginning of year $ 38,093 $ 34,590 Increase (decrease) in plan asset value (961) 2,267 Employer contributions 2,028 1,619 Benefits paid (1,078) (910) Administrative expenses (199) (181) Unrealized gain (loss) on foreign exchange 1,621 708 Fair value of plan assets at end of year $ 39,504 $ 38,093 Under-funded status of the plan at end of the year $ (9,952) $ (8,783) Accumulated Benefit Obligation $ 42,871 $ 39,276