Pension Plan and Other Postretirement Benefits

6 Months Ended

Jun. 30, 2011

Retirement and Employee Benefit Plans

Retirement and Employee Benefits Plans

(12) PENSION PLAN AND OTHER POSTRETIREMENT BENEFITS

The Company has defined pension and postretirement benefit plans which cover substantially all of the Company's employees. Net periodic pension and other postretirement benefit costs include the following components for the three- and six-month periods ended June 30, 2011 and 2010:

	Pension Benefits
	For the three months ended		For the six months ended
	June 30,		June 30,
	2011	2010	2011	2010
	(in thousands)
Service cost	$            2,331	$            1,774	$            4,662	$            3,548
Interest cost	918	812	1,835	1,624
Expected return on plan assets	(1,100)	(876)	(2,199)	(1,752)
Amortization of prior service cost	86	87	172	173
Amortization of net loss	214	202	428	404
Net periodic benefit cost	$            2,449	$            1,999	$            4,898	$            3,997
	Postretirement Benefits
	For the three months ended		For the six months ended
	June 30,		June 30,
	2011	2010	2011	2010
	(in thousands)
Service cost	$               339	$               272	$               677	$               544
Interest cost	63	49	126	98
Amortization of transition obligation	16	16	32	32
Amortization of prior service cost	3	4	7	8
Amortization of net loss	3	5	6	10
Net periodic benefit cost	$               424	$               346	$               848	$               692

The Company currently expects to contribute $12.5 million to the pension plans and less than $0.1 million to the postretirement benefit plan in 2011. As of June 30, 2011, the Company has contributed $5.9 million to the pension plans and less than $0.1 million to the postretirement benefit plan during the year.

The Company maintains a non-qualified deferred compensation supplemental retirement savings plan ("Non-Qualified Plan") for certain key employees who may elect to defer and contribute a portion of their compensation, as permitted by the plan. Shares of the Company's common stock purchased under the terms of the Non-Qualified Plan are presented as treasury stock and totaled 125,550 shares at June 30, 2011 compared to 156,636 shares at December 31, 2010.