Benefit plans (Tables)

12 Months Ended

Dec. 31, 2011

Benefit plans [Abstract]

Components of net periodic benefit cost

The following tables provide the components of aggregate annual net periodic benefit cost, changes in the benefit obligation and the funded status of the pension, supplemental executive retirement and other postretirement benefit plans as recognized in the consolidated balance sheet:

	Pension and Supplemental									Other Postretirement
	Executive Retirement Plans									Benefits
Components of Net Periodic Benefit Cost for fiscal year ending
	12/31/2011			12/31/2010			12/31/2009			12/31/2011			12/31/2010			12/31/2009
	(In thousands)
1. Company Service Cost	$	8,917		$	8,531		$	8,154		$	1,090		$	1,126		$	1,280
2. Interest Cost		16,098			15,535			14,300			1,350			1,183			1,463
3. Expected Return on Assets		(17,373	)		(14,502	)		(15,340	)		(3,299	)		(2,891	)		(2,229	)
4. Other Adjustments		-			-			-			-			-			-
Subtotal		7,642			9,564			7,114			(859	)		(582	)		514
5. Amortization of :
a. Net Transition Obligation/(Asset)		-			-			-			-			-			-
b. Net Prior Service Cost/(Credit)		661			650			716			(6,217	)		(6,138	)		(6,059	)
c. Net Losses/(Gains)		4,010			5,924			6,330			632			764			1,704
Total Amortization		4,671			6,574			7,046			(5,585	)		(5,374	)		(4,355	)
6. Net Periodic Benefit Cost		12,313			16,138			14,160			(6,445	)		(5,956	)		(3,841	)
7. Cost of settlements or curtailments		-			-			-			-			-			-
8. Total Expense for Year	$	12,313		$	16,138		$	14,160		$	(6,445	)	$	(5,956	)	$	(3,841	)

Development of funded status

Development of Funded Status
	Pension and Supplemental						Other Postretirement
	Executive Retirement Plans						Benefits
	12/31/2011			12/31/2010			12/31/2011			12/31/2010
	(In thousands)
Actuarial Value of Benefit Obligations
1. Measurement Date	12/31/2011			12/31/2010			12/31/2011			12/31/2010
2. Accumulated Benefit Obligation	$	297,145		$	270,684		$	25,007		$	26,200
Funded Status/Asset (Liability) on the Consolidated Balance Sheet
1. Projected Benefit Obligation	$	(318,048	)	$	(291,456	)	$	(25,007	)	$	(26,200	)
2. Plan Assets at Fair Value		305,748			284,080			42,578			44,362
3. Funded Status - Overfunded/Asset		N/A			N/A		$	17,571		$	18,162
4. Funded Status - Underfunded/Liability	$	(12,300	)	$	(7,376	)		N/A			N/A

Accumulated Other Comprehensive Income
	12/31/2011		12/31/2010		12/31/2011			12/31/2010
	(In thousands)
1. Net Actuarial (Gain)/Loss	$	95,298	$	81,802	$	14,109		$	13,463
2. Net Prior Service Cost/(Credit)		2,278		2,847		(41,072	)		(47,290	)
3. Net Transition Obligation/(Asset)		-		-		-			-
4. Total at Year End	$	97,576	$	84,649	$	(26,964	)	$	(33,827	)

Change in projected benefit obligation

	Pension and Supplemental						Other Postretirement
	Executive Retirement Plans						Benefits
Change in Projected Benefit Obligation
	12/31/2011			12/31/2010			12/31/2011			12/31/2010
	(In thousands)
1. Benefit Obligation at Beginning of Year	$	291,456		$	258,592		$	26,200		$	24,144
2. Company Service Cost		8,917			8,531			1,090			1,126
3. Interest Cost		16,098			15,535			1,350			1,183
4. Plan Participants' Contributions		-			-			261			327
5. Net Actuarial (Gain)/Loss due to Assumption Changes		23,037			10,425			397			(2,925	)
6. Net Actuarial (Gain)/Loss due to Plan Experience		(6,544	)		3,624			(3,643	)		3,695
7. Benefit Payments from Fund (1)		(14,692	)		(5,769	)		(560	)		(510	)
8. Benefit Payments Directly by Company		(316	)		(231	)		(87	)		(120	)
9. Plan Amendments		92			749			-			(720	)
10. Other Adjustment		-			-			-			-
11. Benefit Obligation at End of Year	$	318,048		$	291,456		$	25,007		$	26,200

(1) In 2011, includes lump sum payments of $8.2 million from our pension plan to eligible participants, which were former employees with vested benefits of $50 thousand or less. Additional former employees may elect this option in 2012.

Change in plan assets

The changes in the fair value of the net assets available for plan benefits are as follows:

Change in Plan Assets
	12/31/2011			12/31/2010			12/31/2011			12/31/2010
	(In thousands)
1. Fair Value of Plan Assets at Beginning of Year	$	284,080		$	243,369		$	44,362		$	38,920
2. Company Contributions		20,316			15,231			-			-
3. Plan Participants' Contributions		-			-			261			327
4. Benefit Payments from Fund		(14,692	)		(5,769	)		(560	)		(510	)
5. Benefit Payments paid directly by Company		(316	)		(231	)		(87	)		(120	)
6. Actual Return on Assets		16,360			31,480			(1,224	)		5,951
7. Other Adjustment		-			-			(173	)		(207	)
8. Fair Value of Plan Assets at End of Year	$	305,748		$	284,080		$	42,578		$	44,361

Change in accumulated other comprehensive income (AOCI)

	Pension and Supplemental						Other Postretirement
	Executive Retirement Plans						Benefits
Change in Accumulated Other Comprehensive Income (AOCI)
	12/31/2011			12/31/2010			12/31/2011			12/31/2010
	(In thousands)
1. AOCI in Prior Year	$	84,649		$	93,403		$	(33,827	)	$	(36,190	)
2. Increase/(Decrease) in AOCI
a. Recognized during year - Prior Service (Cost)/Credit		(661	)		(650	)		6,217			6,138
b. Recognized during year - Net Actuarial (Losses)/Gains		(4,010	)		(5,924	)		(632	)		(764	)
c. Occurring during year - Prior Service Cost		92			749			-			(720	)
d. Occurring during year - Net Actuarial Losses/(Gains)		17,507			(2,929	)		1,278			(2,291	)
3. AOCI in Current Year	$	97,576		$	84,649		$	(26,964	)	$	(33,827	)

Amortizations expected to be recognized during next fiscal year

Amortizations Expected to be Recognized During Next Fiscal Year Ending
	12/31/2012		12/31/2012
	(In thousands)
1. Amortization of Net Transition
Obligation/(Asset)	$	-	$	-
2. Amortization of Prior Service Cost/(Credit)		643		(6,217	)
3. Amortization of Net Losses/(Gains)		5,911		842

Actuarial assumptions

The projected benefit obligations, net periodic benefit costs and accumulated postretirement benefit obligation for the plans were determined using the following weighted average assumptions.

	Pension and Supplemental						Other Postretirement
	Executive Retirement Plans						Benefits
Actuarial Assumptions
	12/31/2011			12/31/2010			12/31/2011			12/31/2010
Weighted-Average Assumptions Used to Determine Benefit Obligations at year end
1. Discount Rate		5.25	%		5.75	%		4.75	%		5.50	%
2. Rate of Compensation Increase		3.00	%		3.00	%		N/A			N/A
Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost for Year
1. Discount Rate		5.75	%		6.00	%		5.50	%		5.75	%
2. Expected Long-term Return on Plan Assets		6.00	%		6.00	%		7.50	%		7.50	%
3. Rate of Compensation Increase		3.00	%		3.00	%		N/A			N/A
Assumed Health Care Cost Trend Rates at year end
1. Health Care Cost Trend Rate Assumed for Next Year		N/A			N/A			8.00	%		8.50	%
2. Rate to Which the Cost Trend Rate is Assumed to Decline (Ultimate Trend Rate)		N/A			N/A			5.00	%		5.00	%
3. Year That the Rate Reaches the Ultimate Trend Rate		N/A			N/A			2018			2018

Weighted-average asset allocations

The weighted-average asset allocations of the plans are as follows:

							Other Postretirement
	Pension Plan						Benefits
Plan Assets
	12/31/2011			12/31/2010			12/31/2011			12/31/2010
Allocation of Assets at year end
1. Equity Securities		38	%		38	%		100	%		100	%
2. Debt Securities		62	%		62	%		0	%		0	%
3. Other		0	%		0	%		0	%		0	%
4. Total		100	%		100	%		100	%		100	%

Fair value of plan assets

The following table sets forth by level, within the fair value hierarchy, the pension plan assets at fair value as of December 31, 2011.

Assets at Fair Value as of December 31, 2011

Pension Plan	Level 1		Level 2		Level 3		Total
	(In thousands)
Domestic Mutual Funds	$	58,699	$	-	$	-	$	58,699
International Mutual Funds		32,664		-		-		32,664
Common Stocks		45,770		-		-		45,770
Corporate Bonds		-		118,575		-		118,575
U.S. Government Securities		13,137		-		-		13,137
Municipals		-		18,362		-		18,362
Foreign Bonds		-		15,411		-		15,411
Foreign Stocks		3,130		-		-		3,130
Total Assets at fair value	$	153,400	$	152,348	$	-	$	305,748

The following tables show the estimated future contributions and estimated future benefit payments.

	Pension and Supplemental		Other Postretirement
	Executive Retirement Plans		Benefits
Company Contributions
	12/31/2011		12/31/2011
	(In thousands)
Company Contributions for the Year Ending:
1. Current	$	20,316	$	-
2. Current + 1		984		-

Minimum and maximum allocation ranges for fixed income securities and equity securities

The primary focus in developing asset allocation ranges for the portfolio is the assessment of the portfolio's investment objectives and the level of risk that is acceptable to obtain those objectives. To achieve these goals the minimum and maximum allocation ranges for fixed income securities and equity securities are:

	Minimum			Maximum
Fixed income		40	%		100	%
Equity		0	%		60	%
Cash equivalents		0	%		10	%

The primary focus in developing asset allocation ranges for the portfolio is the assessment of the portfolio's investment objectives and the level of risk that is acceptable to obtain those objectives. To achieve these goals the minimum and maximum allocation ranges for fixed income securities and equity securities are:

	Minimum			Maximum
Fixed income		0	%		10	%
Equity		90	%		100	%

Actual and estimated future contributions and actual and estimated future benefit payments

The following tables show the estimated future contributions and estimated future benefit payments.

	Pension and Supplemental		Other Postretirement
	Executive Retirement Plans		Benefits
Company Contributions
	12/31/2011		12/31/2011
	(In thousands)
Company Contributions for the Year Ending:
1. Current	$	20,316	$	-
2. Current + 1		984		-

Benefit Payments (Total)
	12/31/2011		12/31/2011
	(In thousands)
Actual Benefit Payments for the Year Ending:
1. Current	$	15,008	$	387
Expected Benefit Payments for the Year Ending:
2. Current + 1		10,377		907
3. Current + 2		11,383		1,033
4. Current + 3		14,051		1,227
5. Current + 4		14,194		1,318
6. Current + 5		15,098		1,472
7. Current + 6 - 10		95,553		10,686

Effect of a 1% change in the health care trend rate assumption

Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plan. A 1% change in the health care trend rate assumption would have the following effects on other postretirement benefits:

	1-Percentage		1-Percentage
	Point Increase		Point Decrease
	(In thousands)
Effect on total service and interest cost components	$	573	$	(408	)
Effect on postretirement benefit obligation		4,463		(3,490	)