PENSION BENEFITS

9 Months Ended

Sep. 30, 2015

PENSION BENEFITS [Abstract]

PENSION BENEFITS

NOTE 9 – PENSION BENEFITS

The following table presents the components of net periodic benefit costs for the periods indicated:

	Three months ended		Nine months ended
	September 30,		September 30,
	2015	2014	2015	2014
	(In thousands)
Service cost	$    2,615	$    2,234	$    7,845	$    6,702
Interest cost	2,588	2,339	7,764	7,017
Expected return on assets	(2,694)	(2,634)	(8,081)	(7,902)
Amortization of unrecognized transition amount	-	5	-	15
Recognized prior service cost	(179)	(192)	(538)	(576)
Recognized net loss	1,976	926	5,928	2,778
Net periodic benefit costs	$    4,306	$    2,678	$  12,918	$    8,034