PENSION AND OTHER BENEFITS (Tables)

6 Months Ended

Jun. 30, 2012

PENSION AND OTHER BENEFITS [Abstract]

Components of net Periodic Benefit Cost for Pension and Other Postretirement Benefits (OPEB)

The following table represents the components of net periodic benefit cost for pension and other postretirement benefits (OPEB) as well as the actuarial weighted-average assumptions used in calculating net periodic benefit cost for the three and six month periods ended June 30, 2012 and 2011:

	Three Months Ended June 30,
	Pension Benefits						Other Postretirement Benefits
	2012			2011			2012			2011
	(In Thousands)
Components of net periodic benefit cost:
Service cost	$	3,008		$	3,144		$	401		$	540
Interest cost		10,368			10,121			1,562			1,659
Expected return on plan assets		(11,219	)		(10,647	)		(626	)		(741	)
Amortization of:
Prior service costs		162			160			(17	)		(26	)
Transition obligation  (asset)		-			-			98			255
Actuarial (gain) loss		3,294			3,509			241			502
Net periodic benefit cost	$	5,613		$	6,287		$	1,659		$	2,189

	Six Months Ended June 30,
	Pension Benefits						Other Postretirement Benefits
	2012			2011			2012			2011
	(In Thousands)
Components of net periodic benefit cost:
Service cost	$	6,016		$	6,287		$	802		$	1,081
Interest cost		20,736			20,242			3,124			3,318
Expected return on plan assets		(22,438	)		(21,294	)		(1,252	)		(1,482	)
Amortization of:
Prior service costs		324			321			(34	)		(51	)
Transition obligation  (asset)		-			-			196			510
Actuarial (gain) loss		6,588			7,016			482			1,004
Net periodic benefit cost	$	11,226		$	12,572		$	3,318		$	4,380

	Three and Six Months Ended June 30,
	Pension Benefits						Other Postretirement Benefits
	2012			2011			2012			2011
Discount rate		5.05% - 5.30	%		5.10% - 5.35	%		5.05% - 5.30	%		5.15% - 5.30	%
Average wage increase		3.50% - 3.80	%		3.50% - 3.80	%		N/A			N/A
Return on plan assets		7.75% - 8.00	%		8.25% - 8.50	%		5.56% - 8.00	%		6.83% - 8.25	%
Composite health care trend rate (current year)		N/A			N/A			8.00	%		7.80% - 8.50	%
Composite health care trend rate (2018 forward)		N/A			N/A			5.00	%		4.50% - 5.00	%

N/A - not applicable