Benefit Plans and Other Postretirement Benefits

9 Months Ended

Sep. 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 nine months ended September 30, 2011 and 2010.

	Pension Benefits						Other Postretirement Benefits
	Three months ended September 30,
	2011			2010			2011		2010
Service cost	$	2,183		$	1,439		$	50	$	41
Interest cost	6,182			5,661			212		197
Expected return on plan assets	(7,399		)	(5,643		)	—		—
Amortization of transition obligation	(28		)	(27		)	16		16
Amortization of prior service cost	676			38			—		—
Amortization of net actuarial losses	3,209			2,631			325		221
Net pension expense	$	4,823		$	4,099		$	603	$	475

	Pension Benefits						Other Postretirement Benefits
	Nine months ended September 30,
	2011			2010			2011		2010
Service cost	$	5,150		$	4,333		$	150	$	124
Interest cost	16,573			17,002			636		590
Expected return on plan assets	(17,852		)	(16,917		)	—		—
Amortization of transition obligation	(84		)	(81		)	47		47
Amortization of prior service cost	1,666			1,814			—		—
Amortization of net actuarial losses	9,099			7,889			976		663
Net pension expense	$	14,552		$	14,040		$	1,809	$	1,424

For the three and nine months ended September 30, 2011, the Company made cash contributions to the Plans of approximately $2,300 and $20,000, respectively, the majority of which was 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 nine months ended September 30, 2011 and 2010, the total matching contributions to these U.S. defined contribution plans were approximately $1,859 and $1,585, respectively.