Pension Plan And Other Postretirement Benefits

3 Months Ended

Mar. 31, 2013

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 periods ended March  31, 2013 and 2012:  

	Pension Benefits
	For the three months ended
	March 31,
	2013		2012
	(in thousands)
Service cost	$	3,447	$	2,736
Interest cost		1,026		1,013
Expected return on plan assets		(1,534)		(1,357)
Amortization of prior service cost		26		71
Amortization of net loss		385		305
Net periodic benefit cost	$	3,350	$	2,768
	Postretirement Benefits
	For the three months ended
	March 31,
	2013		2012
	(in thousands)
Service cost	$	574	$	458
Interest cost		110		100
Amortization of transition obligation		–		16
Amortization of prior service cost		4		3
Amortization of net loss		30		23
Net periodic benefit cost	$	718	$	600

As of March 31, 2013, the Company has contributed $3.0 million to the pension plan and $0.1 million to the postretirement benefit plan, and expects to contribute $12.0 million to the pension plan and $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 14,223 shares at March 31, 2013 compared to 64,715 shares at December 31, 2012.