Employee benefit plans

6 Months Ended

Jun. 30, 2011

Employee benefit plans [Abstract]

Employee benefit plans

16. Employee benefit plans

The Company has noncontributory defined benefit pension plans and other postretirement benefit plans for certain eligible employees. Components of net periodic benefit cost for the Company's pension and other postretirement benefit plans were as follows:

Three Months	Pension Benefits						Other Postretirement Benefits
Ended June 30,	2011			2010			2011			2010
	(In thousands)
Components of net periodic benefit cost:
Service cost	$	827		$	501		$	383		$	374
Interest cost		4,959			4,004			1,161			1,317
Expected return on assets		(5,727	)		(4,992	)		(1,308	)		(1,577	)
Amortization of prior service cost (credit)		44			31			(669	)		(915	)
Amortization of net actuarial (gain) loss		1,049			256			(53	)		67
Amortization of net transition obligation		-			-			531			613
Curtailment loss		1,218			-			-			-
Net periodic benefit cost, including amount capitalized		2,370			(200	)		45			(121	)
Less amount capitalized		287			107			(28	)		37
Net periodic benefit cost	$	2,083		$	(307	)	$	73		$	(158	)
Six Months	Pension Benefits						Other Postretirement Benefits
Ended June 30,		2011			2010			2011			2010
	(In thousands)
Components of net periodic benefit cost:
Service cost	$	1,654		$	1,305		$	722		$	731
Interest cost		9,919			8,930			2,350			2,594
Expected return on assets		(11,427	)		(10,684	)		(2,526	)		(2,969	)
Amortization of prior service cost (credit)		87			69			(1,338	)		(1,779	)
Amortization of net actuarial loss		2,592			1,228			258			455
Amortization of net transition obligation		-			-			1,062			1,145
Curtailment loss		1,218			-			-			-
Net periodic benefit cost, including amount capitalized		4,043			848			528			177
Less amount capitalized		535			383			(95	)		84
Net periodic benefit cost	$	3,508		$	465		$	623		$	93

Defined pension plan benefits to all nonunion and certain union employees hired after December 31, 2005, were discontinued. Employees that would have been eligible for defined pension plan benefits are eligible to receive additional defined contribution plan benefits. Effective January 1, 2010, all benefit and service accruals for nonunion and certain union plans were frozen. Effective June 30, 2011, all benefit and service accruals for an additional union plan were frozen. These employees will be eligible to receive additional defined contribution plan benefits.

Effective January 1, 2010, eligibility to receive retiree medical benefits was modified at certain of the Company's businesses. Current employees who attain age 55 with 10 years of continuous service by December 31, 2010, will be provided the current retiree medical insurance benefits or can elect the new benefit, if desired, regardless of when they retire. All other current employees must meet the new eligibility criteria of age 60 and 10 years of continuous service at the time they retire. These employees will be eligible for a specified company funded Retiree Reimbursement Account. Employees hired after December 31, 2009, are not eligible for retiree medical benefits. 

In addition to the qualified plan defined pension benefits reflected in the table, the Company has an unfunded, nonqualified benefit plan for executive officers and certain key management employees that generally provides for defined benefit payments at age 65 following the employee's retirement or to their beneficiaries upon death for a 15-year period. The Company's net periodic benefit cost for this plan for the three and six months ended June 30, 2011, was $1.9 million and $4.0 million, respectively. The Company's net periodic benefit cost for this plan for the three and six months ended June 30, 2010, was $1.7 million and $3.8 million, respectively.