Pension and Other Postretirement Benefits Disclosure [Text Block]

9 Months Ended

Sep. 30, 2011

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Pension And Other Post retirement Benefits Disclosure Text Block

Note 14 – Pensions and Other Postretirement Benefits

The following table presents the components of net periodic pension cost for the Company’s pension plans for the three and nine month periods ended September 30, 2011 and 2010.

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands)	2011			2010			2011			2010
Service cost	$	53		$	48		$	164		$	143
Interest cost		5,573			5,994			16,805			17,983
Expected return on plan assets		(6,479	)		(7,186	)		(20,328	)		(21,556	)
Amortization of prior service cost		16			16			47			47
Amortization of actuarial loss		3,325			2,215			8,050			6,645
	$	2,487		$	1,087		$	4,737		$	3,262

The actuarial loss occurred principally because the investment returns on the assets of the WHX Pension Plan have been lower than the actuarial assumptions.

In addition to its pension plans which are included in the table above, the Company also maintains several other post-retirement benefit plans covering certain of its employees and retirees.  The approximate aggregate expense for these plans was $0.5 million and $0.4 million for the three month periods ended September 30, 2011 and 2010, respectively, and $1.6 million and $1.3 million for the nine month periods ended September 30, 2011 and 2010, respectively.  In addition, during the nine months ended September 30, 2010, the Company reduced its postretirement benefits expense by $0.7 million because of reductions in certain post-retirement benefits for former employees.