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PENSION AND OTHER BENEFITS (Tables)
 6 Months Ended
Jun. 30, 2013
PENSION AND OTHER BENEFITS [Abstract]  
Components of net periodic benefit cost for pension and other postretirement benefits
The following tables represent the components of net periodic benefit cost for pension and other postretirement benefits 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, 2013 and 2012:

 
 
Three Months Ended June 30,
 
 
 
Pension Benefits
  
Other Postretirement Benefits
 
 
 
2013
  
2012
  
2013
  
2012
 
 
 
(In Thousands)
 
Components of net periodic benefit cost:
 
  
  
  
 
Service cost
 
$
3,696
  
$
3,008
  
$
481
  
$
401
 
Interest cost
  
9,988
   
10,368
   
1,384
   
1,562
 
Expected return on plan assets
  
(12,863
)
  
(11,219
)
  
(648
)
  
(626
)
Amortization of:
                
Prior service costs
  
151
   
162
   
(13
)
  
(17
)
Transition obligation
  
-
   
-
   
-
   
98
 
Actuarial loss
  
5,208
   
3,294
   
444
   
241
 
Net periodic benefit cost
 
$
6,180
  
$
5,613
  
$
1,648
  
$
1,659
 

 
 
Six Months Ended June 30,
 
 
 
Pension Benefits
  
Other Postretirement Benefits
 
 
 
2013
  
2012
  
2013
  
2012
 
 
 
(In Thousands)
 
Components of net periodic benefit cost:
 
  
  
  
 
Service cost
 
$
7,392
  
$
6,016
  
$
962
  
$
802
 
Interest cost
  
19,976
   
20,736
   
2,768
   
3,124
 
Expected return on plan assets
  
(25,726
)
  
(22,438
)
  
(1,296
)
  
(1,252
)
Amortization of:
                
Prior service costs
  
302
   
324
   
(26
)
  
(34
)
Transition obligation
  
-
   
-
   
-
   
196
 
Actuarial loss
  
10,416
   
6,588
   
888
   
482
 
Net periodic benefit cost
 
$
12,360
  
$
11,226
  
$
3,296
  
$
3,318
 

 
 
Three and Six Months Ended June 30,
 
 
 
Pension Benefits
  
Other Postretirement Benefits
 
 
 
2013
  
2012
  
2013
  
2012
 
 
 
  
  
  
 
Discount rate
  
4.00% - 4.25
%
  
5.05% - 5.30
%
  
4.00% - 4.25
%
  
5.05% - 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
%
  
7.75% - 8.00
%
  
5.56% - 8.00
%
  
5.56% - 8.00
%
Composite health care trend rate (current year)
  
N/
A
  
N/
A
  
7.50
%
  
8.00
%
Composite health care trend rate (2018 forward)
  
N/
A
  
N/
A
  
5.00
%
  
5.00
%
 
                
N/A – not applicable