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Executive Benefit Agreements and Employee Savings Plans (Tables)
12 Months Ended
Dec. 31, 2012
Executive Benefit Agreements

The following table includes information about the 2005 Agreement.

 

     December 31,  
     2012     2011  
     (In Thousands)  

Total undiscounted death benefits—1981 Agreements

   $ 3,865      $ 4,115   
  

 

 

   

 

 

 

Total undiscounted death benefits—1992 Agreements

   $ 302      $ 302   
  

 

 

   

 

 

 

Total undiscounted death benefits—2005 Agreement

   $ 2,500      $ 2,500   
  

 

 

   

 

 

 

Accrued death benefits—All agreements

   $ 4,185      $ 4,017   
  

 

 

   

 

 

 

Total undiscounted executive benefits—1992 Agreements

   $ 1,928      $ 1,950   
  

 

 

   

 

 

 

Discount rates utilized—1992 Agreements

     2.78     3.58
  

 

 

   

 

 

 

Accrued executive benefits—1992 Agreements

   $ 1,365      $ 1,262   
  

 

 

   

 

 

 

 

Executive Benefit Expenses
     December 31,  
     2012      2011      2010  
     (In Thousands)  

Costs associated with executive benefits included in SG&A

   $ 186       $ 158       $ 169   
  

 

 

    

 

 

    

 

 

 
Life Insurance Policies

The following table summarizes certain information about these life insurance policies.

 

     December 31,  
     2012      2011  
     (In Thousands)  

Total face value of life insurance policies (1)

   $ 21,242       $ 21,522   
  

 

 

    

 

 

 

Cash surrender values of life insurance policies

   $ 5,439       $ 4,961   

Loans on cash surrender values

     —           (1,890
  

 

 

    

 

 

 

Net cash surrender values

   $ 5,439       $ 3,071   
  

 

 

    

 

 

 
Life Insurance Premiums
     2012     2011     2010  
     (In Thousands)  

Cost of life insurance premiums

   $ 851      $ 851      $ 851   

Increases in cash surrender values

     (479     (499     (496
  

 

 

   

 

 

   

 

 

 

Net cost of life insurance premiums included in SG&A

   $ 372      $ 352      $ 355   
  

 

 

   

 

 

   

 

 

 

 

(1) Includes $7,000,000 on the life of our CEO, of which $2,500,000 is required to be paid under the 2005 Agreement as discussed above.