Pension and Other Post-Retirement Benefits

9 Months Ended

Sep. 30, 2014

Compensation And Retirement Disclosure [Abstract]

Pension and Other Post-Retirement Benefits

Note 9. Pension and Other Post-Retirement Benefits

The following tables set forth certain disclosures regarding the Company’s pension and post-retirement plans for the periods indicated:

	For the Three Months Ended September 30,
	2014						2013
	Pension			Post-Retirement			Pension			Post-Retirement
(in thousands)	Benefits			Benefits			Benefits			Benefits
Components of net periodic (credit) expense:
Interest cost	$	1,474		$	190		$	1,364		$	171
Service cost		--			1			--			1
Expected return on plan assets		(4,859	)		--			(4,147	)		--
Amortization of prior-service loss		--			(62	)		--			(62	)
Amortization of net actuarial loss		822			118			2,351			164
Net periodic (credit) expense	$	(2,563	)	$	247		$	(432	)	$	274

	For the Nine Months Ended September 30,
	2014						2013
	Pension			Post-Retirement			Pension			Post-Retirement
(in thousands)	Benefits			Benefits			Benefits			Benefits
Components of net periodic (credit) expense:
Interest cost	$	4,422		$	569			4,092			512
Service cost		--			3			--			3
Expected return on plan assets		(14,577	)		--			(12,441	)		--
Amortization of prior-service loss		--			(186	)		--			(187	)
Amortization of net actuarial loss		2,466			354			7,054			493
Net periodic (credit) expense	$	(7,689	)	$	740		$	(1,295	)	$	821

The Company expects to contribute $1.5 million to its post-retirement plan to pay premiums and claims for the fiscal year ending December 31, 2014. The Company does not expect to make any contributions to its pension plan in 2014.

For additional information regarding the Company’s pension and post-retirement benefits, please see Note 12 to the Consolidated Financial Statements in the Company’s 2013 Annual Report on Form 10-K.