Components of Net Periodic (Benefit) Cost

9 Months Ended

Sep. 30, 2011

Components of Net Periodic (Benefit) Cost

Components of Net Periodic (Benefit) Cost

9.  Components of Net Periodic (Benefit) Cost

Net periodic (benefit) cost of the Defined Benefit Pension Plan and the Post-Retirement Medical Plan included in general insurance expenses in the accompanying condensed consolidated statements of income for the three and nine-month periods ended September 30, 2011 and 2010 include the following components:

	Three months ended September 30,
	2011			2010			2011			2010
	Defined benefit pension plan						Post-retirement medical plan
Components of periodic (benefit) cost:
Service cost	$	1,008		$	935		$	160		$	182
Interest cost	4,996			4,895			146			178
Expected return on plan assets	(5,245		)	(4,655		)	—			—
Amortization of transition obligation	(347		)	(379		)	—			—
Amortization of unrecognized prior service cost (benefit)	12			21			(413		)	(413		)
Amortization of loss (gain) from earlier periods	1,162			1,273			(157		)	(115		)
Net periodic (benefit) cost	$	1,586		$	2,090		$	(264	)	$	(168	)

	Nine months ended September 30,
	2011			2010			2011			2010
	Defined benefit pension plan						Post-retirement medical plan
Components of periodic (benefit) cost:
Service cost	$	2,951		$	2,878		$	466		$	540
Interest cost	15,215			14,873			439			547
Expected return on plan assets	(15,820		)	(14,256		)	—			—
Amortization of transition obligation	(1,041		)	(1,136		)	—			—
Amortization of unrecognized prior service cost (benefit)	38			63			(1,238		)	(1,238		)
Amortization of loss (gain) from earlier periods	3,836			4,117			(458		)	(332		)
Net periodic (benefit) cost	$	5,179		$	6,539		$	(791	)	$	(483	)

The Company will make a contribution at least equal to the minimum contribution of $12,000 to its Defined Benefit Pension Plan during the year ended December 31, 2011.  The Company expects to contribute approximately $706 to its Post-Retirement Medical Plan during the year ended December 31, 2011.