PENSIONS AND OTHER POST-RETIREMENT BENEFITS (Tables)

3 Months Ended

Mar. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Summary of the costs of the Company's employee pension and post retirement plans

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
	March 31,			March 31,			March 31,			March 31,
	2014			2013			2014			2013
Service cost	$	1,734		$	2,002		$	6		$	9
Interest cost	3,335			3,016			91			81
Expected return on plan assets	(3,936		)	(3,478		)	—			—
Amortization of prior service cost	3			4			(561		)	(844		)
Recognized actuarial loss	502			2,156			154			192
Net periodic benefit cost	$	1,638		$	3,700		$	(310	)	$	(562	)

For the three months ended March 31, 2014, $0.9 million of pension expense was incurred in cost of sales and $0.7 million was incurred in selling, general, and administrative expenses. For the three months ended March 31, 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. Due to prior year payments above the minimum required, the Company does not expect to make any cash contributions to its benefit plans during the next twelve months.