Pension Benefits (Tables)

12 Months Ended

Dec. 31, 2012

Pension Benefits

Schedule of changes in benefit plan obligation and fair value of plan assets

The following table sets forth the change in our benefit plan obligation and fair value of plan assets (in thousands):

	Successor									Predecessor
	Year Ended December 31, 2012			Year Ended December 31, 2011			Eight Months Ended December 31, 2010			Four Months Ended April 30, 2010
Change in benefit obligation:
Beginning balance	$	218,806		$	183,048		$	170,944		$	167,391
Interest cost		9,226			9,741			6,481			3,225
Actuarial loss		14,616			32,385			9,731			2,326
Benefits paid		(7,146	)		(6,368	)		(4,108	)		(1,998	)
Benefit obligation at end of period	$	235,502		$	218,806		$	183,048		$	170,944
Change in fair value of plan assets:
Beginning balance	$	146,630		$	143,818		$	137,374		$	131,110
Actual return on assets		19,648			6,480			9,747			7,182
Employer contributions		6,075			3,750			1,080			1,080
Administrative fees		(1,159	)		(1,050	)		(275	)		—
Benefits paid		(7,146	)		(6,368	)		(4,108	)		(1,998	)
Fair value of plan assets at end of period	$	164,048		$	146,630		$	143,818		$	137,374

Schedule of reconciliation of benefit plan funded status to amounts recognized in consolidated balance sheet

The following is a reconciliation of the SFTP Benefit Plan funded status to the amounts recognized in our consolidated balance sheets at December 31, 2012 and 2011 (in thousands):

	December 31,
	2012			2011
Fair value of plan assets	$	164,048		$	146,630
Benefit obligation		(235,502	)		(218,806	)
Funded status (deficit)	$	(71,454	)	$	(72,176	)
Other long-term liabilities	$	(71,454	)	$	(72,176	)

Schedule of weighted average assumptions used to determine benefit obligations

	December 31,
	2012			2011
Discount rate		3.850	%		4.300	%
Rate of compensation increase		N/A			N/A

Schedule of components of net periodic benefit cost and amounts recognized in other comprehensive income (loss)

The following table sets forth the components of net periodic benefit cost and other comprehensive income (loss) (in thousands):

	Successor									Predecessor
	Year Ended December 31, 2012			Year Ended December 31, 2011			Eight Months Ended December 31, 2010			Four Months Ended April 30, 2010
Net periodic benefit cost:
Service cost	$	1,150		$	1,050		$	275		$	—
Interest cost		9,226			9,741			6,481			3,225
Expected return on plan assets		(10,982	)		(10,662	)		(6,747	)		(3,226	)
Amortization of net actuarial loss		666			—			—			273
Total net periodic benefit cost	$	60		$	129		$	9		$	272
Other comprehensive (loss) income:
Current year actuarial (loss) gain	$	(5,293	)	$	(36,566	)	$	(6,731	)	$	1,630
Amortization of actuarial gain		—			—			—			42,809
Effect of curtailment loss		—			—			—			—
Effects of curtailment on prior service costs		—			—			—			—
Total other comprehensive (loss) income	$	(5,293	)	$	(36,566	)	$	(6,731	)	$	44,439

Schedule of estimated amounts that will be amortized from accumulated other comprehensive loss into net periodic benefit cost

The estimated amounts that will be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2013 are as follows (in thousands):

Actuarial loss	$	804
Prior service cost		—
Total	$	804

Schedule of weighted average assumptions used to determine net costs

	2012			2011			2010
Discount rate		4.300	%		5.400	%		5.800	%
Rate of compensation increase		N/A			N/A			N/A
Expected return on plan assets		7.500	%		7.500	%		7.500	%

Schedule of fair value of plan assets

The following table presents the categories of our plan assets and the related levels of inputs in the fair value hierarchy, as defined in Note 3(f), used to determine the fair value (in thousands):

	Fair Value Measurements at December 31, 2012
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Category:
Equity Securities
Large-Cap Disciplined Equity(a)	$	37,942	$	37,942	$	—	$	—
Small/Mid-Cap Equity(a)		9,212		9,212		—		—
International Equity(b)		21,618		21,618		—		—
Fixed Income
Long Duration Fixed Income(c)		46,084		46,084		—		—
Core Fixed Income(c)		3,081		3,081		—		—
High Yield(d)		6,145		6,145		—		—
Emerging Markets Debt(e)		4,638		4,638		—		—
Alternatives
Hedge Fund of Funds(f)		22,618		—		—		22,618
Cash(g)		4,510		4,510		—		—
Other Investments(h)		8,200		8,200		—		—
Total	$	164,048	$	141,430	$	—	$	22,618

	Fair Value Measurements at December 31, 2011
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Category:
Equity Securities
Large-Cap Disciplined Equity(a)	$	39,335	$	39,335	$	—	$	—
Small/Mid-Cap Equity(a)		8,869		8,869		—		—
International Equity(b)		17,915		17,915		—		—
Fixed Income
Long Duration Fixed Income(c)		45,961		45,961		—		—
High Yield(d)		8,665		8,665		—		—
Emerging Markets Debt(e)		4,289		4,289		—		—
Alternatives
Hedge Fund of Funds(f)		21,596		—		—		21,596
Total	$	146,630	$	125,034	$	—	$	21,596

(a)

These categories are comprised of mutual funds actively traded on the registered exchanges or over the counter markets. The mutual funds are invested in equity securities of U.S. issuers.

(b)

This category consists of mutual funds invested primarily in equity securities (common stocks, securities that are convertible into common stocks, preferred stocks, warrants and rights to subscribe to common stocks) of non-U.S. issuers purchased in foreign markets. The mutual funds are actively traded on U.S. or foreign registered exchanges, or the over-the-counter markets.

(c)

The assets are comprised of mutual funds which are actively traded on the registered exchanges. The mutual funds are invested primarily in high quality government and corporate fixed income securities, as well as synthetic instruments or derivatives having economic characteristics similar to fixed income securities.

(d)

The high yield portion of the fixed income portfolio consists of mutual funds invested primarily in fixed income securities that are rated below investment grade. The mutual funds are actively traded on the registered exchanges.

(e)

The emerging debt portion of the portfolio consist of mutual funds primarily invested in the debt securities of government, government-related and corporate issuers in emerging market countries and of entities organized to restructure outstanding debt of such issuers. The mutual funds are actively traded on the registered exchanges.

(f)

Hedge Fund of Funds consists primarily of investments in underlying hedge funds. Management of the hedge funds has the ability to choose and combine hedge funds in order to target the fund's return objectives. Individual hedge funds hold their assets primarily in investment funds and engage in investment strategies that include temporary or dedicated directional market exposures.

(g)

Cash held at year end was to be used to purchase equity based securities in January 2013.

(h)

This category is comprised of an investment in a common collective trust with the underlying assets invested in asset-backed securities, money market funds, corporate bonds and bank notes. The underlying assets are actively traded on the registered exchanges.

Schedule of rollforward of the balances of plan assets that are valued using Level 3 inputs

The following table represents a rollforward of the December 31, 2012 and 2011 balances of our plan assets that are valued using Level 3 inputs (in thousands):

	Hedge Fund of Funds
Beginning balance at December 31, 2010	$	20,700
Actual return on plan assets:
Relating to assets still held at the reporting date		(143	)
Relating to assets sold during the period		39
Purchases, sales and settlements, net		1,000
Beginning balance at December 31, 2011	$	21,596
Actual return on plan assets:
Relating to assets still held at the reporting date		1,022
Ending balance at December 31, 2012	$	22,618

Summary of expected employer contributions and future benefit payments

The following table summarizes expected employer contributions and future benefit payments (in thousands):

Employer Contributions for Fiscal Year 2012
2013 (expected) to plan trusts	$	6,000
Expected benefit payments:
2013	$	8,174
2014		8,575
2015		9,035
2016		9,460
2017		9,863
2018 - 2022		57,293
	$	102,400