PENSIONS AND OTHER POST-RETIREMENT BENEFITS

6 Months Ended

Jun. 30, 2014

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
	June 30,			June 30,			June 30,			June 30,
	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	)

NOTE 10. PENSIONS AND OTHER POST-RETIREMENT BENEFITS (continued)

For the three months ended June 30, 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 June 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. Due to prior years' payments in excess of minimum funding requirements, the Company does not expect to make any cash contributions to its pension plan during the remainder of fiscal 2014.