Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2012

Projected Benefit Obligations, Fair Values of Plan Assets and Amounts Recognized in the Balance Sheet

The following tables set forth the pension plan's projected benefit obligations and fair values of plan assets as of December 31, 2012 and 2011 and the components of total periodic pension benefit cost for the years ended December 31, 2012, 2011 and 2010:

($ in thousands)	2012			2011

Change in projected benefit obligation (PBO)
PBO at beginning of year	$	1,799,313		$	1,644,657
Service cost		43,688			38,879
Interest cost		78,027			84,228
Actuarial loss		196,304			160,390
Benefits paid		(172,601	)		(128,841	)
PBO at end of year	$	1,944,731		$	1,799,313

Change in plan assets
Fair value of plan assets at beginning of year	$	1,257,990		$	1,290,274
Actual return on plan assets		139,679			19,883
Employer contributions, net of transfers		28,598			76,674
Benefits paid		(172,601	)		(128,841	)
Fair value of plan assets at end of year	$	1,253,666		$	1,257,990

Funded status	$	(691,065	)	$	(541,323	)

Amounts recognized in the consolidated balance sheet
Current liabilities	$	(60,386	)	$	-
Pension and other postretirement benefits	$	(630,679	)	$	(541,323	)
Accumulated other comprehensive loss	$	697,874		$	575,163

The following tables set forth the OPEB plan's benefit obligations, fair values of plan assets and the postretirement benefit liability recognized on our consolidated balance sheets at December 31, 2012 and 2011 and the components of net periodic postretirement benefit costs for the years ended December 31, 2012, 2011 and 2010.


($ in thousands)	2012			2011

Change in benefit obligation

Benefit obligation at beginning of year	$	391,596		$	353,131
Service cost		10,812			8,958
Interest cost		17,842			17,722
Plan participants' contributions		4,059			4,389
Actuarial loss		30,958			22,564
Benefits paid		(15,974	)		(15,168	)
Plan change		(743	)		-
Benefit obligation at end of year	$	438,550		$	391,596

Change in plan assets
Fair value of plan assets at beginning of year	$	5,101		$	6,240
Actual return on plan assets		466			219
Plan participants' contributions		4,059			4,389
Employer contribution		11,403			9,421
Benefits paid		(15,974	)		(15,168	)
Fair value of plan assets at end of year	$	5,055		$	5,101

Funded status	$	(433,495	)	$	(386,495	)

Amounts recognized in the consolidated balance sheet
Current liabilities	$	(9,116	)	$	(9,117	)
Pension and other postretirement benefits	$	(424,379	)	$	(377,378	)
Accumulated other comprehensive loss	$	74,264		$	41,811

Net Periodic Benefit Cost

	Expected in
($ in thousands)	2013		2012			2011			2010

Components of total periodic pension benefit cost
Service cost			$	43,688		$	38,879		$	21,169
Interest cost on projected benefit obligation				78,027			84,228			67,735
Expected return on plan assets				(95,777	)		(100,558	)		(69,831	)
Amortization of prior service cost/(credit)	$	8		(199	)		(199	)		(199	)
Amortization of unrecognized loss		40,287		29,890			15,364			27,393
Net periodic pension benefit cost				55,629			37,714			46,267
Special termination charge				-			-			69
Total periodic pension benefit cost			$	55,629		$	37,714		$	46,336

($ in thousands)	Expected in
	2013			2012			2011			2010
Components of net periodic postretirement benefit cost
Service cost				$	10,812		$	8,958		$	7,956
Interest cost on projected benefit obligation					17,842			17,722			17,883
Expected return on plan assets					(172	)		(324	)		(436	)
Amortization of prior service cost/(credit)	$	(6,101	)		(10,068	)		(10,198	)		(8,157	)
Amortization of unrecognized loss		8,911			7,537			4,424			4,917
Net periodic postretirement benefit cost				$	25,951		$	20,582		$	22,163

Weighted Average Asset Allocations, By Asset Category

The plan's weighted average asset allocations at December 31, 2012 and 2011 by asset category are as follows:


	2012			2011
Asset category:
Equity securities		43	%		45	%
Debt securities		40	%		40	%
Alternative investments		14	%		14	%
Cash and other		3	%		1	%
Total		100	%		100	%

Expected Benefit Payments over the Next Ten Years

The plan's expected benefit payments over the next 10 years are as follows:

($ in thousands)

Year		Amount
2013		$	113,424
2014			120,836
2015			128,624
2016			134,922
2017			138,759
	2018 - 2022		729,847
Total		$	1,366,412

The OPEB plan's expected benefit payments over the next 10 years are as follows:

($ in thousands)
		Gross		Medicare Part D
Year		Benefits		Subsidy		Total
2013		$	14,010	$	430	$	13,580
2014			15,591		533		15,058
2015			17,448		644		16,804
2016			19,457		760		18,697
2017			21,347		924		20,423
	2018 - 2022		131,410		7,838		123,572
Total		$	219,263	$	11,129	$	208,134

Schedule of Assumptions Used

Assumptions used in the computation of annual pension costs and valuation of the year-end obligations were as follows:

	2012	2011	2010
Discount rate - used at year end to value obligation	4.00%	4.50%	5.25%
Discount rate - used to compute annual cost	4.50%	5.25%	5.75%
Expected long-term rate of return on plan assets	7.75%	8.00%	8.00%
Rate of increase in compensation levels	2.50%	2.50%	3.00%

Assumptions used in the computation of annual OPEB costs and valuation of the year-end OPEB obligations were as follows:

	2012	2011	2010
Discount rate - used at year end to value obligation	4.00% - 4.20%	4.50% - 4.75%	5.25%
Discount rate - used to compute annual cost	4.50% - 4.75%	5.25%	5.75%
Expected long-term rate of return on plan assets	4.00% - 3.00%	6.00% - 3.00%	6.00%

Net Periodic Benefit Cost Not yet Recognized

The amounts in accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit cost at December 31, 2012 and 2011 are as follows:

($ in thousands)	Pension Plan				OPEB
	2012		2011		2012			2011
Net actuarial loss	$	697,511	$	574,998	$	105,970		$	82,841
Prior service cost/(credit)		363		165		(31,706	)		(41,030	)
Total	$	697,874	$	575,163	$	74,264		$	41,811

Amounts Recognized As a Component of Accumulated Comprehensive Income

The amounts recognized as a component of accumulated comprehensive loss for the years ended December 31, 2012 and 2011 are as follows:

	Pension Plan						OPEB
($ in thousands)	2012			2011			2012			2011

Accumulated other comprehensive loss at
beginning of year	$	575,163		$	349,264		$	41,811		$	13,369

Net actuarial gain (loss) recognized during year		(29,890	)		(15,364	)		(7,537	)		(4,424	)
Prior service (cost)/credit recognized during year		199			199			10,068			10,198
Net actuarial loss (gain) occurring during year		152,402			241,064			30,665			22,668
Prior service cost (credit) occurring during year		-			-			(743	)		-
Net amount recognized in comprehensive income
for the year		122,711			225,899			32,453			28,442
Accumulated other comprehensive loss at end of year	$	697,874		$	575,163		$	74,264		$	41,811