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Pension Plans and Postretirement Benefits
6 Months Ended
Jun. 30, 2014
Compensation And Retirement Disclosure [Abstract]  
Pension Plans and Postretirement Benefits

NOTE 5 – PENSION PLANS AND POSTRETIREMENT BENEFITS

Components of net periodic benefit cost included in net income are as follows:

 

     Pension Benefits     Other Benefits  
     Three Months Ended     Six Months Ended     Three Months Ended     Six Months Ended  
     June 30,     June 30,     June 30,     June 30,  
     2014     2013     2014     2013     2014     2013     2014     2013  
     (In thousands)  

Service cost

   $ 9,651      $ 11,542      $ 19,297      $ 23,120      $ 216      $ 248      $ 432      $ 496   

Interest cost

     30,361        27,838        60,688        55,626        977        993        1,946        1,898   

Expected return on plan assets

     (37,389     (36,611     (74,766     (73,281     (575     (537     (1,150     (1,075

Amortization of prior service cost (credit)

     635        792        1,269        1,584        (40     (82     (80     (73
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net periodic benefit cost

   $ 3,258      $ 3,561      $ 6,488      $ 7,049      $ 578      $ 622      $ 1,148      $ 1,246   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

We made contributions to our pension and postretirement benefit plans totaling $18.4 million and $27.0 million during the three and six months ended June 30, 2014, respectively, as compared to $18.0 million and $43.2 million in the three and six months ended June 30, 2013, respectively.