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Pension and Other Postretirement Plans (Tables)
12 Months Ended
Dec. 31, 2012
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Components of Periodic Benefit Cost
Components of Net Periodic Benefit Cost
 
Years Ended December 31,
 
2012
 
2011
 
2010
 
(In thousands)
 
 
 
 
 
 
Components of net periodic benefit costs:
 
 
 
 
 
Interest cost
$
928

 
1,000

 
1,034

Service cost
174

 
147

 

Expected return on plan assets
(1,070
)
 
(1,094
)
 
(1,035
)
Amortization of prior service cost
4

 
4

 
4

Amortization of net loss
786

 
542

 
499

 
 
 
 
 
 
Net periodic benefit cost
822

 
599

 
502

 
 
 
 
 
 
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
 

 
 

 
 

Net loss (gain)
1,389

 
3,240

 
 

Amortization of prior service cost
(4
)
 
(4
)
 
 

Amortization of net loss (gain)
(786
)
 
(542
)
 
 

 
 
 
 
 
 
Total recognized in other comprehensive income
599

 
2,694

 
 

 
 
 
 
 
 
Total recognized in net periodic benefit cost and other comprehensive income
$
1,421

 
3,293

 
 

Schedule of Allocation of Plan Assets
 The following table sets forth the Company’s pension plan assets within the fair value hierarchy as of December 31, 2012.

 
December 31, 2012
 
Total
 
Level 1
 
Level 2
 
Level 3
 
(In thousands)
 
 
 
 
 
 
 
 
Cash
$
885

 
885

 

 

Equity securities
 

 
 
 
 
 
 
Domestic
9,900

 
9,900

 

 

International
201

 
201

 

 

Debt securities
 

 
 
 
 
 
 
U.S. government agencies
403

 

 
403

 

Corporate bonds
5,424

 

 
5,424

 

 
 
 
 
 
 
 
 
Total
$
16,813

 
10,986

 
5,827

 

Pension Allocation by Type of Fund and Target Allocation

The plan’s weighted-average asset allocations by asset category are as follows:

 
December 31,
 
2012
 
2011
 
2010
 
 
 
 
 
 
Asset Category:
 
 
 
 
 
Equity securities
60%
 
57%
 
62%
Debt securities
35%
 
33%
 
32%
Cash and cash equivalents
5%
 
10%
 
6%
 
 
 
 
 
 
Total
100%
 
100%
 
100%
Schedule of Acceptable Ranges for Each Asset as per Investment Policy Statement
The investment policy statement sets forth the following acceptable ranges for each asset's class.

 
Acceptable Range
 
 
Asset Category:
 
Equity securities
55-65%
Debt securities
30-40%
Cash and cash equivalents
0-15%
Schedule of Assumptions Used
Assumptions
 
December 31,
 
2012
 
2011
 
 
 
 
Weighted-average assumptions used to determine benefit obligations:
 
 
 
Discount rate
3.75
%
 
4.25
%
Rate of compensation increase
n/a

 
n/a


 
December 31,
 
2012
 
2011
 
2010
 
 
 
 
 
 
Weighted-average assumptions used to determine net periodic benefit cost:
 
 
 
 
 
Discount rate
4.25
%
 
5.25
%
 
5.75
%
Expected long-term return on plan assets
7.00
%
 
7.00
%
 
7.00
%
Rate of compensation increase
n/a

 
n/a

 
n/a

Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands):

2013
$
1,305

2014
1,305

2015
1,291

2016
1,301

2017
1,380

2018-2022
6,657

Defined Benefit Pension Plans [Member]
 
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Defined Benefit Plans Disclosures
detail of plan disclosures is provided below.

Obligations and Funded Status

 
December 31,
 
2012
 
2011
 
(In thousands)
 
 
 
 
Changes in projected benefit obligations:
 
 
 
Projected benefit obligations at beginning of year
$
21,890

 
19,502

Service Cost
174

 
147

Interest cost
928

 
1,000

Actuarial loss
1,833

 
2,429

Benefits paid
(1,290
)
 
(1,188
)
 
 
 
 
Projected benefit obligations at end of year
23,535

 
21,890

 
 
 
 
Changes in plan assets:
 

 
 

Fair value of plan assets at beginning of year
15,688

 
16,136

Actual return on plan assets
1,513

 
282

Contributions
902

 
458

Benefits paid
(1,290
)
 
(1,188
)
 
 
 
 
Fair value of plan assets at end of year
16,813

 
15,688

 
 
 
 
Funded status at end of year
$
(6,722
)
 
(6,202
)

Schedule of Amounts Recognized in Consolidated Financial Statements and in Other Comprehensive Income
 
December 31,
 
2012
 
2011
 
(In thousands)
 
 
 
 
Amounts recognized in the Company's consolidated financial statements:
 
 
 
Assets
$

 

Liabilities
(6,722
)
 
(6,202
)
 
 
 
 
Net amount recognized
$
(6,722
)
 
(6,202
)
 
 
 
 
Amounts recognized in accumulated other comprehensive income:
 
 
 
Net loss
$
11,283

 
10,680

Prior service cost
12

 
15

 
 
 
 
Net amount recognized
$
11,295

 
10,695

Chairman and President Non-Qualified Defined Benefit Plans [Member]
 
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Defined Benefit Plans Disclosures
Obligations and Funded Status

 
December 31,
 
2012
 
2011
 
(In thousands)
 
 
 
 
Changes in projected benefit obligations:
 
 
 
Projected benefit obligations at beginning of year
$
21,401

 
19,257

Service cost
168

 
93

Interest cost
912

 
1,033

Actuarial (gain) loss
2,025

 
3,000

Benefits paid
(1,981
)
 
(1,982
)
 
 
 
 
Projected benefit obligations at end of year
22,525

 
21,401

 
 
 
 
Change in plan assets:
 

 
 

Fair value of plan assets at beginning of year

 

Contributions
1,981

 
1,982

Benefits paid
(1,981
)
 
(1,982
)
 
 
 
 
Fair value of plan assets at end of year

 

 
 
 
 
Funded status at end of year
$
(22,525
)
 
(21,401
)
Schedule of Amounts Recognized in Consolidated Financial Statements and in Other Comprehensive Income
 
December 31,
 
2012
 
2011
 
(In thousands)
 
 
 
 
Amounts recognized in the Company's consolidated financial statements:
 
 
 
Assets
$

 

Liabilities
(22,525
)
 
(21,401
)
 
 
 
 
Net amount recognized
$
(22,525
)
 
(21,401
)
 
 
 
 
Amounts recognized in accumulated other comprehensive income:
 

 
 

Net loss
$
11,117

 
10,235

Prior service cost
878

 
936

 
 
 
 
Net amount recognized
$
11,995

 
11,171

Schedule of Components of Periodic Benefit Cost
 
Years Ended December 31,
 
2012
 
2011
 
2010
 
(In thousands)
 
 
 
 
 
 
Components of net periodic benefit cost:
 
 
 
 
 
Service cost
$
168

 
93

 
53

Interest cost
912

 
1,033

 
1,063

Amortization of prior service cost
59

 
59

 
516

Amortization of net loss
1,142

 
888

 
658

 
 
 
 
 
 
Net periodic benefit cost
2,281

 
2,073

 
2,290

 
 
 
 
 
 
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
 
 
 
 
 
Net (gain) loss
2,025

 
3,000

 
 
Amortization of prior service cost
(59
)
 
(59
)
 
 
Amortization of net (gain) loss
(1,142
)
 
(888
)
 
 
 
 
 
 
 
 
Total recognized in other comprehensive income
824

 
2,053

 
 
 
 
 
 
 
 
Total recognized in net periodic benefit cost and other comprehensive income
$
3,105

 
4,126

 
 
Schedule of Assumptions Used
 
December 31,
 
2012
 
2011
 
 
 
 
Weighted-average assumptions used to determine benefit obligations:
 
 
 
Discount rate
3.75
%
 
4.25
%
Rate of compensation increase
4.00
%
 
4.00
%

 
December 31,
 
2012
 
2011
 
2010
 
 
 
 
 
 
Weighted-average assumptions used to determine net periodic benefit costs:
 
 
 
 
 
Discount rate
4.25
%
 
5.25
%
 
5.75
%
Expected long-term return on plan assets
n/a

 
n/a

 
n/a

Rate of compensation increase
4.00
%
 
4.00
%
 
4.00
%
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands):

2013
$
1,982

2014
1,982

2015
1,982

2016
1,982

2017
1,982

2018-2022
9,908

Defined Benefit Postretirement Healthcare Plans [Member]
 
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Defined Benefit Plans Disclosures
Company uses a December 31 measurement date for the plan.  A detail of plan disclosures related to the plan is provided below:

Obligations and Funded Status
 
December 31,
 
2012
 
2011
 
(In thousands)
 
 
 
 
Changes in projected benefit obligations:
 
 
 
Projected benefit obligations at beginning of year
$
3,471

 
2,728

Interest cost
129

 
143

Actuarial loss (gain)
(105
)
 
631

Benefits paid
(13
)
 
(31
)
 
 
 
 
Projected benefit obligations at end of year
3,482

 
3,471

 
 
 
 
Changes in plan assets:
 

 
 

Fair value of plan assets at beginning of year

 

Contributions
13

 
31

Benefits paid
(13
)
 
(31
)
 
 
 
 
Fair value of plan assets at end of year

 

 
 
 
 
Funded status at end of year
$
(3,482
)
 
(3,471
)

 
December 31,
 
2012
 
2011
 
(In thousands)
 
 
 
 
Amounts recognized in the Company's consolidated financial statements:
 
 
 
Assets
$

 

Liabilities
(3,482
)
 
(3,471
)
 
 
 
 
Net amount recognized
$
(3,482
)
 
(3,471
)
 
 
 
 
Amounts recognized in accumulated other comprehensive income:
 

 
 

Net loss
$
878

 
1,023

Prior service cost
670

 
773

 
 
 
 
Net amount recognized
$
1,548

 
1,796

Schedule of Amounts Recognized in Consolidated Financial Statements and in Other Comprehensive Income
 
December 31,
 
2012
 
2011
 
(In thousands)
 
 
 
 
Amounts recognized in the Company's consolidated financial statements:
 
 
 
Assets
$

 

Liabilities
(3,482
)
 
(3,471
)
 
 
 
 
Net amount recognized
$
(3,482
)
 
(3,471
)
 
 
 
 
Amounts recognized in accumulated other comprehensive income:
 

 
 

Net loss
$
878

 
1,023

Prior service cost
670

 
773

 
 
 
 
Net amount recognized
$
1,548

 
1,796

Schedule of Components of Periodic Benefit Cost
Components of Net Periodic Benefit Cost
 
Years Ended December 31,
 
2012
 
2011
 
2010
 
(In thousands)
 
 
 
 
 
 
Components of net periodic benefit cost:
 
 
 
 
 
Interest cost
$
129

 
143

 
137

Amortization of prior service cost
103

 
103

 
103

Amortization of net loss
41

 
19

 

 
 
 
 
 
 
Net periodic benefit cost
273

 
265

 
240

 
 
 
 
 
 
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
 

 
 

 
 

Net (gain) loss
(105
)
 
632

 
 

Amortization of prior service cost
(103
)
 
(103
)
 
 
Amortization of net (gain) loss
(41
)
 
(19
)
 
 

 
 
 
 
 
 
Total recognized in other comprehensive income
(249
)
 
510

 
 

 
 
 
 
 
 
Total recognized in net periodic benefit cost and other comprehensive income
$
24

 
775

 
 

Schedule of Assumptions Used
Assumptions
 
December 31,
 
2012
 
2011
 
 
 
 
Weighted-average assumptions used to determine benefit obligations:
 
 
 
Discount rate
3.75
%
 
4.25
%
Expected long-term return on plan assets
n/a

 
n/a


For measurement purposes, a 9% annual rate of increase in the per capita cost of covered health care benefits was assumed for 2013 and future years.

Assumed health care trend rates have a significant effect on the amounts reported for the health care plans.  A one percentage point change in assumed health care cost trend rates would have the following effects for the years ended December 31:

 
December 31, 2012
 
December 31, 2011
 
1% Point Increase
 
1% Point Decrease
 
1% Point Increase
 
1% Point Decrease
 
(In thousands)
Effect on total of service and interest cost components
$
29

 
(22
)
 
34

 
(26
)
 
 
 
 
 
 
 
 
Effect on postretirement benefit obligation
$
810

 
(622
)
 
827

 
(633
)
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands):

2013
$
72

2014
78

2015
85

2016
93

2017
101

2018-2022
658