XML 28 R18.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Employee Benefit Plans
6 Months Ended
Jun. 30, 2011
Employee Benefit Plans [Abstract]  
EMPLOYEE BENEFIT PLANS
11. EMPLOYEE BENEFIT PLANS
We sponsor defined benefit pension plans that cover substantially all non-union and certain union-represented employees. Benefits are generally based upon the employee’s compensation and years of service. We also have a non-qualified Supplemental Executive Retirement Plan (“SERP”). The SERP, which is unfunded, provides defined pension benefits in addition to the defined benefit pension plan to eligible participants based on average earnings, years of service and age at retirement. Effective June 30, 2009, we froze the accrual of benefits under defined benefit pension plans and SERP that cover the majority of our employees.
We sponsor a defined contribution plan covering substantially all non-union and certain union employees. We match a portion of employees’ voluntary contributions to this plan. We suspended our matching contributions in the second quarter of 2009. Our matching contributions were reinstated in July 2010.
Other union-represented employees are covered by defined benefit pension plans jointly sponsored by us and the union, or by union-sponsored multi-employer plans.
The components of the benefit plans expense consisted of the following:
                                 
    Three months ended     Six months ended  
    June 30,     June 30,  
(in thousands)   2011     2010     2011     2010  
 
                               
Service cost
  $ 12     $ 153     $ 24     $ 306  
Interest cost
    6,369       6,368       12,738       12,736  
Expected return on plan assets, net of expenses
    (5,752 )     (6,039 )     (11,504 )     (12,078 )
Amortization of prior service cost
          5       1       10  
Amortization of actuarial loss
    672       1,057       1,344       2,114  
Curtailment loss
          50             50  
 
                       
 
                               
Total for defined benefit plans
    1,301       1,594       2,603       3,138  
Multi-employer plans
    126       85       233       339  
SERP
    270       279       540       559  
Defined contribution plans
    2,199             4,745        
 
                       
 
                               
Net periodic benefit cost
    3,896       1,958       8,121       4,036  
Allocated to discontinued operations
          48             (103 )
 
                       
Net periodic benefit cost — continuing operations
  $ 3,896     $ 2,006     $ 8,121     $ 3,933  
 
                       
We contributed $1.7 million to fund current benefit payments for our SERP during the first six months of 2011. We anticipate contributing an additional $1.7 million to fund the SERP’s benefit payments during the remainder of 2011. No contributions were made to our defined benefit plans during the first six months of 2011.