Profit Sharing/401(K) Plan
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12 Months Ended |
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Dec. 31, 2012
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Profit Sharing/401(K) Plan/Supplemental Retirement Plan And Related Post Retirement Benefits [Abstract] | |
PROFIT SHARING/401(K) PLAN |
NOTE 9 — PROFIT SHARING/401(K) PLAN The Company and all its subsidiaries, excluding Ballard and Max-Viz, participate in the ATRO Profit Sharing/401K Plan. This plan is a qualified profit sharing/401(k) Plan for the benefit of eligible full-time employees. The plan provides for annual contributions based on percentages of pretax income. In addition, employees may contribute a portion of their salary to the 401(k) plan which is partially matched by the Company. The plan may be amended or terminated at any time. The DME Profit Sharing/401(k) Savings Plan and Trust was merged into the ATRO Profit Sharing/401K Plan for the benefit of its eligible full-time employees on January 1, 2011. Through December 31, 2012, Ballard had a qualified 401(k) Savings Plan (the “Savings Plan”) for the benefit of its eligible full-time employees. Employees could contribute from 1% to 15% of their eligible salary to the Savings Plan. The Savings Plan provided for annual Company contributions of 3% of total eligible salaries, regardless of whether the employee contributes to the Savings Plan. The Savings Plan will be merged into the ATRO Profit Sharing/401K plan on January 1, 2013. Through December 31, 2012, Max-Viz had a 401(k) Savings and Retirement Plan (the “Retirement Plan”) to provide for voluntary salary deferral contributions on a pre-tax basis. Max-Viz could make discretionary matching contributions. The Retirement Plan will be merged into the ATRO Profit Sharing/401K plan on January 1, 2013. Total charges to income before income taxes for these plans were $3.0 million, $2.6 million and $1.9 million in 2012, 2011 and 2010, respectively. |