Health Care, Pension and Other Benefits

9 Months Ended

Sep. 30, 2011

Health Care, Pension and Other Benefits [Abstract]

HEALTH CARE, PENSION AND OTHER BENEFITS

NOTE 7—HEALTH CARE, PENSION AND OTHER BENEFITS

Shown below are the components of the Company’s net periodic benefit cost for domestic defined benefit pension plans, foreign defined benefit pension plans and postretirement benefits other than pensions:

	Domestic Defined						Foreign Defined						Postretirement Benefits
	Benefit Pension Plans						Benefit Pension Plans						Other than Pensions
(Thousands of dollars)	2011			2010			2011			2010			2011			2010
Three Months Ended September 30:
Net periodic benefit cost:
Service cost	$	4,007		$	4,226		$	918		$	501		$	873		$	883
Interest cost		4,707			4,507			1,061			1,040			3,895			4,017
Expected return on assets		(11,610	)		(10,578	)		(662	)		(720	)
Amortization of:
Prior service cost (credit)		408			416						8			(164	)		(164	)
Actuarial loss		4,876			4,735			215			347			626			326
Net periodic benefit cost	$	2,388		$	3,306		$	1,532		$	1,176		$	5,230		$	5,062
Nine Months Ended September 30:
Net periodic benefit cost:
Service cost	$	12,021		$	12,679		$	2,814		$	1,490		$	2,621		$	2,649
Interest cost		14,121			13,521			3,225			3,079			11,685			12,050
Expected return on assets		(34,831	)		(31,733	)		(2,008	)		(2,130	)
Amortization of:
Prior service cost (credit)		1,226			1,246						22			(492	)		(492	)
Actuarial loss		14,630			14,207			650			1,027			1,878			978
Net periodic benefit cost	$	7,167		$	9,920		$	4,681		$	3,488		$	15,692		$	15,185

Effective July 1, 2011, the Employee Stock Purchase and Savings Plan was amended to reinstate the Company match to 6% of eligible employee contributions.

Effective October 1, 2011, participation in The Sherwin-Williams Company Salaried Employees’ Pension Investment Plan, a defined benefit plan, was frozen for new hires. All newly hired U.S. non-collectively bargained employees will be eligible to participate in The Sherwin-Williams Company Salaried Employees’ Revised Pension Investment Plan.

For further details on the Company’s health care, pension and other benefits, see Note 7 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2010.