Benefit Plans and Other Postretirement Benefits

6 Months Ended

Jun. 30, 2011

Benefit Plans and Other Postretirement Benefits

Benefit Plans and Other Postretirement Benefits

Note 12—Benefit Plans and Other Postretirement Benefits

The Company and certain of its domestic subsidiaries have two defined benefit pension plans (the “U.S. Plans”), which cover its U.S. employees and which represent the majority of the assets and benefit obligations of the aggregate defined benefit plans of the Company. The U.S. Plans’ benefits are generally based on years of service and compensation and are generally noncontributory.  Certain U.S. employees not covered by the U.S. Plans are covered by defined contribution plans.  Certain foreign subsidiaries have defined benefit plans covering their employees (the “International Plans” and, together with the U.S. Plans, the “Plans”). The following is a summary, based on the most recent actuarial valuations of the Company’s net cost for pension benefits, of both the U.S. Plans and the International Plans and other postretirement benefits for the three and six months ended June 30, 2011 and 2010.

	Pension Benefits						Other Postretirement Benefits
	Three months ended June 30,
	2011			2010			2011		2010
Service cost	$	1,354		$	1,435		$	45	$	41
Interest cost	4,587			5,631			201		197
Expected return on plan assets	(4,415		)	(5,628		)	—		—
Amortization of transition obligation	(29		)	(27		)	16		16
Amortization of prior service cost	412			888			—		—
Amortization of net actuarial losses	2,456			2,625			311		221
Net pension expense	$	4,365		$	4,924		$	573	$	475

	Pension Benefits						Other Postretirement Benefits
	Six months ended June 30,
	2011			2010			2011		2010
Service cost	$	2,967		$	2,894		$	100	$	82
Interest cost	10,391			11,341			424		394
Expected return on plan assets	(10,453		)	(11,274		)	—		—
Amortization of transition obligation	(56		)	(54		)	31		32
Amortization of prior service cost	990			1,776			—		—
Amortization of net actuarial losses	5,890			5,258			651		442
Net pension expense	$	9,729		$	9,941		$	1,206	$	950

For the three and six months ended June 30, 2011, the Company made cash contributions to the Plans of $3,000 and $18,000, respectively, and estimates that, based on current actuarial calculations, it will make total cash contributions to the Plans in 2011 of approximately $20,000, the majority of which is to the U.S. Plans.  Cash contributions in subsequent years will depend on a number of factors, including the investment performance of the Plans’ assets.

The Company offers various defined contribution plans for U.S. and foreign employees. Participation in these plans is based on certain eligibility requirements. The Company matches the majority of employee contributions to U.S. defined contribution plans with cash contributions up to a maximum of 5% of eligible compensation.  During the six months ended June 30, 2011 and 2010, the total matching contributions to these U.S. defined contribution plans were approximately $1,278 and $1,046, respectively.