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Retirement Plans
9 Months Ended
Sep. 30, 2011
Retirement Plans 
Retirement Plans

 

 

(14)         Retirement Plans

 

We have defined benefit pension plans covering many of our employees, including certain employees in Germany and the U.K. The components of net periodic pension cost for these plans are as follows:

 

 

 

Domestic Plan

 

Foreign Plans

 

 

 

Three Months Ended September 30,

 

Three Months Ended September 30,

 

 

 

2011

 

2010

 

2011

 

2010

 

Service cost

 

$

91

 

$

87

 

$

162

 

$

133

 

Interest cost

 

812

 

864

 

448

 

424

 

Expected return on plan assets

 

(1,125

)

(1,048

)

(105

)

(89

)

Amortization of prior service cost (credit)

 

28

 

28

 

(13

)

(13

)

Amortization of net loss

 

542

 

489

 

29

 

48

 

Net periodic pension cost

 

$

348

 

$

420

 

$

521

 

$

503

 

 

 

 

Domestic Plan

 

Foreign Plans

 

 

 

Nine Months Ended September 30,

 

Nine Months Ended September 30,

 

 

 

2011

 

2010

 

2011

 

2010

 

Service cost

 

$

272

 

$

262

 

$

484

 

$

452

 

Interest cost

 

2,438

 

2,592

 

1,337

 

1,285

 

Expected return on plan assets

 

(3,275

)

(3,145

)

(317

)

(256

)

Amortization of prior service cost (credit)

 

85

 

84

 

(39

)

(26

)

Amortization of net loss

 

1,626

 

1,467

 

87

 

128

 

Net periodic pension cost

 

$

1,146

 

$

1,260

 

$

1,552

 

$

1,583

 

 

We were not required to make any contributions to our domestic pension plan in 2011. We have made payments of $2.6 million to this plan as of September 30, 2011, but do not anticipate making any more contributions this year. Our anticipated contributions to the pension plan of our U.K. subsidiary approximate $0.7 million for the current year. As of September 30, 2011, we have made contributions of $0.6 million to this plan. The pension plans of our German entities do not hold any assets and use operating cash to pay participant benefits as they become due. Expected 2011 benefit payments under these plans are $1.2 million, of which $0.9 million was paid through September 30, 2011.

 

We provide postretirement life insurance benefits to a limited number of certain eligible hourly retirees and their dependents. The activity in this plan is not material to the condensed consolidated financial statements.