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Pension and Postretirement Benefits Other than Pensions
 3 Months Ended
Mar. 31, 2012
Pension and Postretirement Benefits Other Than Pensions [Abstract]  
Pension and Postretirement Benefits Other Than Pensions [Text Block]
Pension and Postretirement Benefits Other than Pensions —

Pension Benefits

The Company has defined benefit plans covering a significant number of its employees. The benefits under these plans are based primarily on years of service and compensation levels. Pension expense for the three months ended March 31, 2012 and 2011 for the defined benefit plans consists of the following components:

 
 
Three Months Ended March 31,
 
 
2012
 
2011
 
Service cost
$
1,198

 
$
1,010

 
Interest cost
4,330

 
3,255

 
Expected return on plan assets
(4,356
)
 
(3,164
)
 
Amortization of prior service cost
(74
)
 
(67
)
 
Amortization of net loss
1,525

 
1,055

 
Net periodic pension expense
$
2,623

 
$
2,089



Postretirement Benefits

The Company provides health benefits for certain retired employees and certain dependents when the employee becomes eligible for these benefits by satisfying plan provisions that include certain age and service requirements.

The components of the postretirement benefit expense of the Company-sponsored plans for the three months ended March 31, 2012 and 2011 are as follows:

 
 
Three Months Ended March 31,
 
 
2012
 
2011
 
Service cost
$
50

 
$
50

 
Interest cost
350

 
650

 
Amortization of prior service cost
(375
)
 
(32
)
 
Amortization of net loss
525

 
482

 
Postretirement benefit expense
$
550

 
$
1,150




During the third quarter of 2011, the Company amended its U.S. retiree health care plans to change the method by which postretirement health care is provided for certain eligible Medicare age retirees and / or spouses. Beginning January 1, 2012, the Company provides its eligible Medicare age retirees and / or spouses postretirement health care in the form of a defined contribution benefit, together with access to a third party health care exchange designed specifically for Medicare age participants. Postretirement health care was previously provided to this group through the Company's standard group health plan. The plan amendment reduced the accumulated postretirement benefit obligation by approximately $19,500 which is being recognized as part of net periodic postretirement benefit cost over the average life expectancy of retired eligible employees.