XML 1033 R33.htm IDEA: XBRL DOCUMENT v2.4.0.6
Retirement and Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Retirement and Employee Benefit Plans [Abstract]    
Changes in the plans' benefit obligations, fair value of assets, and funded status
               

 

 

 

Other Postretirement

 

Pension Benefits

 

Benefits

 

2011

 

2010

 

2011

 

2010

 

(in thousands)

Change in benefit obligations:

 

 

 

 

 

 

 

Benefit obligation at January 1

 $       67,933

 

 $       56,736

 

 $         4,955

 

 $         3,271

Service cost

9,323

 

7,096

 

1,354

 

1,089

Interest cost

3,671

 

3,249

 

252

 

195

Participant contributions

0

 

0

 

19

 

15

Actuarial loss

6,967

 

6,311

 

302

 

462

Benefits paid

(6,156)

 

(5,029)

 

(89)

 

(77)

Plan amendments

0

 

168

 

0

 

0

Settlements

0

 

(598)

 

0

 

0

Benefit obligation at December 31

 $       81,738

 

 $       67,933

 

 $         6,793

 

 $         4,955

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Postretirement

 

Pension Benefits

 

Benefits

 

2011

 

2010

 

2011

 

2010

 

(in thousands)

Change in plan assets:

 

 

 

 

 

 

 

Fair value of plan assets at January 1

 $       56,949

 

 $       46,689

 

$                0

 

$                0

Actual return/(loss) on plan assets

4,717

 

6,276

 

0

 

0

Employer contributions

12,513

 

9,667

 

70

 

62

Participant contributions

0

 

0

 

19

 

15

Benefits paid

(6,156)

 

(5,029)

 

(89)

 

(77)

Settlements

0

 

(654)

 

0

 

0

Fair value of plan assets at December 31

 $       68,023

 

 $       56,949

 

$                0

 

$                0

Funded status of plans at December 31

 $      (13,715)

 

 $      (10,984)

 

$         (6,793)

 

$         (4,955)

 
Projected benefit obligation, accumulated benefit obligation and fair value of plan assets

 

2011

 

2010

 

(in thousands)

 

 

 

 

Projected benefit obligation

 $          81,738

 

 $          67,933

Accumulated benefit obligation

 $          77,317

 

 $          63,665

Fair value of plan assets

 $          68,023

 

 $          56,949

 
Pension and other postretirement benefit costs
                       

 

 

 

Other Postretirement

 

Pension Benefits

 

Benefits

 

2011

 

2010

 

2009

 

2011

 

2010

 

2009

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 $    9,323

 

 $    7,096

 

 $    5,148

 

 $     1,354

 

 $     1,089

 

 $        696

Interest cost

3,671

 

3,249

 

2,874

 

252

 

195

 

136

Expected return on plan assets

(4,398)

 

(3,503)

 

(2,809)

 

0

 

0

 

0

Amortization of transition obligation

0

 

0

 

0

 

64

 

65

 

65

Amortization of prior service cost

344

 

346

 

334

 

14

 

14

 

14

Amortization of net loss

856

 

806

 

846

 

11

 

21

 

7

Net periodic benefit cost

9,796

 

7,994

 

6,393

 

1,695

 

1,384

 

918

Settlements and curtailments

0

 

223

 

0

 

0

 

0

 

0

Total benefit cost

 $    9,796

 

 $    8,217

 

 $    6,393

 

 $     1,695

 

 $     1,384

 

 $        918

 
Amounts recognized in other comprehensive income

 

Pension Benefits

 

Other Postretirement Benefits

 

(in thousands)

 

 

 

 

Net actuarial loss arising during the year

 $           (6,648)

 

 $               (302)

Amortization of transition obligation

0

 

64

Amortization of prior service cost

344

 

14

Amortization of net loss

856

 

11

Tax effect

2,210

 

88

 

 $           (3,238)

 

 $               (125)

 
Weighted average assumptions used in the measurement of benefit obligations
               

 

 

 

Other Postretirement

 

Pension Benefits

 

Benefits

 

2011

 

2010

 

2011

 

2010

 

 

 

 

 

 

 

 

Discount rate

5.00%

 

5.50%

 

5.00%

 

5.50%

Rate of compensation increase

4.50%

 

4.50%

 

n/a

 

n/a

 
Weighted average assumptions used in the measurement of net periodic benefit cost
                       

 

 

 

Other Postretirement

 

Pension Benefits

 

Benefits

 

2011

 

2010

 

2009

 

2011

 

2010

 

2009

 

 

 

 

 

 

 

 

 

 

 

 

Discount rate

5.50%

 

5.75%

 

6.00%

 

5.50%

 

5.75%

 

6.00%

Expected return on plan assets

7.50%

 

7.50%

 

7.50%

 

n/a

 

n/a

 

n/a

Rate of compensation increase

4.50%

 

4.50%

 

4.50%

 

n/a

 

n/a

 

n/a

 
Measurement purposes following trend rates were assumed

 

2011

 

2010

 

 

 

 

Health care cost trend assumed for next year

9%

 

9%

Rate to which the cost trend is assumed to decline

5%

 

5%

Year that the rate reaches the ultimate trend rate

2031

 

2030

 
One percentage point change in assumed health care cost trend rates

 

1% Increase

 

1% Decrease

 

(in thousands)

 

 

 

 

Effect on the total service and interest cost components

 $       235

 

 $      (196)

Effect on postretirement benefit obligation

 $       940

 

 $      (788)

 
Benefit payments, which reflect expected future service

 

Pension Benefits

 

Other Postretirement Benefits

 

(in thousands)

 

 

 

 

2012

 $            3,894

 

 $                150

2013

 $            4,808

 

 $                217

2014

 $            6,310

 

 $                322

2015

 $            6,183

 

 $                443

2016

 $            7,908

 

 $                657

Years 2017-2021

 $          54,647

 

 $             5,321

 
Plan assets allocation to any asset class falls outside of the specified range
       

 

Pension Plan Asset Allocations

Asset category:

Target

 

Actual

Equity securities:

 

 

 

  U.S. large cap growth equity

6%

 

6%

  U.S. large cap value equity

6%

 

5%

  U.S. large cap core equity

15%

 

16%

  U.S. small cap equity

3%

 

3%

  Non-U.S. equity

25%

 

25%

          Emerging markets equity 5% 

 

5% 

Fixed income and cash and cash equivalents

40%

 

40%

Total

100%

 

100% 

 

 

 

 

 
Fair Value Measurement Of Pension Plan Assets [Table]

 

 

 

Quoted Prices in Active Markets for Identical Assets

 

Significant Observable Inputs

 

Significant Unobservable Inputs

Asset category:

Total

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

(in thousands)

Equity securities:

 

 

 

 

 

 

 

  U.S. large cap growth equity (1)

 $         3,792

 

 $         3,792

 

 $               0

 

 $               0

  U.S. large cap value equity (2)

3,689

 

3,689

 

0

 

0

  U.S. large cap core equity (3)

10,849

 

0

 

10,849

 

0

  U.S. small cap equity (4)

2,201

 

2,201

 

0

 

0

  Non-U.S. equity (5)

16,719

 

16,719

 

0

 

0

        Emerging markets equity (6)

3,377

 

0

 

3,377

 

0

  Fixed income (7)

25,192

 

0

 

25,192

 

0

Cash and cash equivalents

2,204

 

2,204

 

0

 

0

Total

 $       68,023

 

 $       28,605

 

 $               39,418

 

 $               0

 

 

 

Quoted Prices in Active Markets for Identical Assets

 

Significant Observable Inputs

 

Significant Unobservable Inputs

Asset category:

Total

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

(in thousands)

Equity securities:

 

 

 

 

 

 

 

  Large cap growth equity (1)

 $         5,937

 

 $         5,937

 

 $               0

 

 $               0

  Large cap value equity (2)

5,838

 

5,838

 

0

 

0

  Large cap core equity (3)

8,062

 

8,062

 

0

 

0

  Small cap equity (4)

6,662

 

6,662

 

0

 

0

  International equity (5)

8,333

 

8,333

 

0

 

0

  Fixed income (6)

18,539

 

18,539

 

0

 

0

Cash and cash equivalents

3,578

 

3,578

 

0

 

0

Total

 $       56,949

 

 $       56,949

 

 $               0

 

 $               0