PENSIONS AND OTHER POST-RETIREMENT BENEFITS

9 Months Ended

Sep. 30, 2013

Compensation and Retirement Disclosure [Abstract]

PENSIONS AND OTHER POST-RETIREMENT BENEFITS

PENSIONS AND OTHER POST-RETIREMENT BENEFITS

The following tables summarize the costs of the Company’s employee pension and other post-retirement benefit plans for the periods indicated (in thousands):

	Pension Benefits						Other Benefits
	Three months ended						Three months ended
	September 30,			September 30,			September 30,			September 30,
	2013			2012			2013			2012
Service cost	$	2,002		$	1,802		$	9		$	12
Interest cost	3,016			2,955			81			114
Expected return on plan assets	(3,478		)	(3,131		)	—			—
Amortization of prior service cost	4			4			(844		)	(844		)
Recognized actuarial loss	2,156			1,027			192			246
Net periodic benefit cost	$	3,700		$	2,657		$	(562	)	$	(472	)

For the three months ended September 30, 2013, $2.2 million of pension expense was incurred in cost of sales and $1.5 million was incurred in selling, general, and administrative expenses.

	Pension Benefits						Other Benefits
	Nine months ended						Nine months ended
	September 30,			September 30,			September 30,			September 30,
	2013			2012			2013			2012
Service cost	$	6,006		$	5,406		$	27		$	36
Interest cost	9,048			8,865			243			342
Expected return on plan assets	(10,434		)	(9,393		)	—			—
Amortization of prior service cost	12			12			(2,532		)	(2,532		)
Recognized actuarial loss	6,468			3,081			576			738
Net periodic benefit cost	$	11,100		$	7,971		$	(1,686	)	$	(1,416	)

For the nine months ended September 30, 2013, $6.7 million of pension expense was incurred in cost of sales and $4.4 million was incurred in selling, general, and administrative expenses.