Employee Benefit Plans

9 Months Ended

Dec. 31, 2011

Employee Benefit Plans [Abstract]

Employee Benefit Plans

Note 3: Employee Benefit Plans

During the three months ended December 31, 2011 and 2010, the Company recorded compensation expense of $994 and $1,076, respectively, related to its defined contribution employee benefit plans.  During the nine months ended December 31, 2011 and 2010, the Company recorded compensation expense of $2,879 and $3,084, respectively, related to its defined contribution employee benefit plans.

During the three months ended December 31, 2011 and 2010, the Company elected to contribute $2,150 and $2,529, respectively, to its U.S. pension plans.  During the nine months ended December 31, 2011 and 2010, the Company elected to contribute $9,350 and $14,628, respectively, to its U.S. pension plans.

Costs for Modine's pension and postretirement benefit plans for the three and nine months ended December 31, 2011 and 2010 include the following components:

	Three months ended December 31												Nine months ended December 31
	Pension						Postretirement						Pension						Postretirement
	2011			2010			2011			2010			2011			2010			2011			2010
Service cost	$	419		$	483		$	11		$	11		$	1,270		$	1,433		$	32		$	33
Interest cost		3,486			3,405			87			85			10,493			10,288			260			253
Expected return on plan assets		(3,847	)		(3,806	)		-			-			(11,543	)		(11,418	)		-			-
Amortization of:
Unrecognized net loss (gain)		1,996			1,918			(6	)		(28	)		5,986			5,752			(18	)		(84	)
Unrecognized prior service cost (credit)		-			89			(416	)		(446	)		-			267			(1,247	)		(1,336	)
Adjustment for settlement		-			8			-			-			-			23			-			-
Curtailment gain		-			-			-			-			-			-			-			(2,075	)
Net periodic benefit cost (income)	$	2,054		$	2,097		$	(324	)	$	(378	)	$	6,206		$	6,345		$	(973	)	$	(3,209	)