EMPLOYEE BENEFIT PLANS

3 Months Ended

Mar. 31, 2013

EMPLOYEE BENEFIT PLANS

7. EMPLOYEE BENEFIT PLANS

Defined Benefit Pension Plans

The Company sponsors defined benefit pension plans that cover certain U.S., Canadian, German, and United Kingdom employees and which provide benefits of stated amounts for each year of service of the employee.

The Company uses a December31 measurement date for the plans.

The following tables provide information regarding the Company’s defined benefit pension plans summarized by U.S. and international components.

	U.S.		International
	Threemonthsended March 31,		Threemonthsended March 31,
In thousands, except percentages	2013	2012		2013	2012
Net periodic benefit cost
Service cost	$106	$96		$513	$495
Interest cost	491	542		1,677	1,772
Expected return on plan assets	(740)	(775)		(2,122)	(2,029)
Net amortization/deferrals	839	806		866	677
Settlement loss recognized	—	—		—	293
Net periodic benefit cost	$696	$669		$934	$1,208
Assumptions
Discount rate	3.90%	4.30%		4.30%	4.96%
Expected long-term rate of return	7.50%	7.50%		6.09%	6.12%
Rate of compensation increase	3.00%	3.00%		3.10%	3.21%

The Company’s funding methods are based on governmental requirements and differ from those methods used to recognize pension expense. The Company expects to contribute $4.9 million to the international plans and does not expect to make a contribution to the U.S. plans during 2013.

Post Retirement Benefit Plans

In addition to providing pension benefits, the Company has provided certain unfunded postretirement health care and life insurance benefits for a portion of North American employees. The Company is not obligated to pay health care and life insurance benefits to individuals who had retired prior to 1990.

The Company uses a December31 measurement date for all post retirement plans.

The following tables provide information regarding the Company’s post retirement benefit plans summarized by U.S. and international components.

	U.S.			International
	Threemonthsended March 31,			Threemonthsended March 31,
In thousands, except percentages	2013	2012	2013		2012
Net periodic benefit cost
Service cost	$7	$9	$12		$11
Interest cost	321	351	44		50
Net amortization/deferrals	(212)	(201)	(77)		(82)
Net periodic benefit cost	$116	$159	$(21)		$(21)
Assumptions
Discount rate	3.90%	4.30%	4.30%		5.15%