Pension Plan And Other Postretirement Benefits

6 Months Ended

Jun. 30, 2012

Pension Plan And Other Postretirement Benefits [Abstract]

Pension Plan and Other Postretirement Benefits

(13) 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, 2012 and 2011:

	Pension Benefits
	For the three months ended				For the six months ended
	June 30,				June 30,
	2012		2011		2012		2011
	(in thousands)
Service cost	$	2,735	$	2,331	$	5,471	$	4,662
Interest cost		1,012		918		2,025		1,835
Expected return on plan assets		(1,356)		(1,100)		(2,713)		(2,199)
Amortization of prior service cost		72		86		143		172
Amortization of net loss		305		214		610		428
Net periodic benefit cost	$	2,768	$	2,449	$	5,536	$	4,898
	Postretirement Benefits
	For the three months ended				For the six months ended
	June 30,				June 30,
	2012		2011		2012		2011
	(in thousands)
Service cost	$	458	$	339	$	916	$	677
Interest cost		99		63		199		126
Amortization of transition obligation		16		16		32		32
Amortization of prior service cost		4		3		7		7
Amortization of net loss		23		3		46		6
Net periodic benefit cost	$	600	$	424	$	1,200	$	848

The Company currently expects to contribute $10.0 million to its pension plans and $0.1 million to its postretirement benefit plan in 2012. As of June 30, 2012, the Company has contributed $9.5 million to the pension plans and less than $0.1 million to the postretirement benefit plan.

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 101,659 shares at June 30, 2012 compared to 98,889 shares at December 31, 2011.