Pension Plan and Postretirement Benefits Other Than Pension (Tables)

12 Months Ended

Dec. 31, 2011

Pension Plan and Postretirement Benefits Other Than Pension

Schedule of reconciliation of the funded status of plan assets and the assumptions used to determine benefit obligations

	Pension Benefits						Other Postretirement Benefits
	2011		2010		2009		2011		2010		2009
	(in thousands)
Change in projected benefit obligation:
Net benefit obligation at beginning of year	$	118,860		110,962		98,594		6,850		5,945		5,205
Service cost		7,101		6,140		5,276		558		443		371
Interest cost		7,195		6,596		6,386		402		364		343
Benefits paid		(6,522)		(6,589)		(11,692)		(554)		(528)		(493)
Actuarial loss		21,778		1,751		12,398		530		389		362
Retiree contributions		-		-		-		359		237		157
Net benefit obligation at end of year	$	148,412		118,860		110,962		8,145		6,850		5,945

Schedule of pension plan asset allocation

	Pension Benefits						Other Postretirement Benefits
	2011		2010		2009		2011		2010		2009
	(in thousands)
Change in plan assets:
Fair value of plan assets at beginning of year	$	106,568		91,551		78,020		-		-		-
Actual return on plan assets		(6,642)		9,106		15,223		-		-		-
Employer contributions		10,000		12,500		10,000		195		291		336
Retiree contributions		-		-		-		359		237		157
Benefits paid		(6,522)		(6,589)		(11,692)		(554)		(528)		(493)
Fair value of plan assets at end of year	$	103,404		106,568		91,551		-		-		-
Funded status at end of year	$	(45,008)		(12,292)		(19,411)		(8,145)		(6,850)		(5,945)

	Pension Benefits						Other Postretirement Benefits
	2011		2010		2009		2011		2010		2009
	(in thousands, except percentage data)
Amounts recognized in the statement of financial position:
Current liabilities	$	-		-		-		(289)		(303)		(250)
Noncurrent liabilities		(45,008)		(12,292)		(19,411)		(7,856)		(6,547)		(5,695)
Net amount recognized at end of year	$	(45,008)		(12,292)		(19,411)		(8,145)		(6,850)		(5,945)
Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive income:
Transition obligation	$	(37)		(42)		(47)		-		-		-
Prior service cost		(2,932)		(3,486)		(4,041)		(183)		(238)		(284)
Accumulated loss		(66,747)		(31,369)		(32,842)		(999)		(469)		(79)
Accumulated other comprehensive income (loss)		(69,716)		(34,897)		(36,930)		(1,182)		(707)		(363)
Cumulative employer contributions in
excess of net periodic benefit cost		24,708		22,605		17,519		(6,963)		(6,143)		(5,582)
Net amount recognized at end of year	$	(45,008)		(12,292)		(19,411)		(8,145)		(6,850)		(5,945)
Weighted average assumptions used to determine benefit obligation at December 31:
Discount rate		4.99%		6.00%		6.25%		5.00%		6.00%		6.25%
Rate of compensation increase		4.04%		3.86%		3.86%		Not applicable

Summary of entity's pension plan assets

Plan assets by category	Percentage of Plan Assets at December 31, 2011		Percentage of Plan Assets at December 31, 2010
Cash		7%		5%
Equity securities:
Domestic		43%		34%
International		38%		47%
Gold bullion		12%		14%
Total		100%		100%

Summary of entity's pension plan assets fair value

2011	Level 1		Level 2		Level 3		Total
	(in thousands)
Equity securities:
Domestic	$	44,818		-		-		44,818
International		38,942		-		-		38,942
Fixed income securities:
Mortgage-backed security		-		98		-		98
Gold bullion		12,857		-		-		12,857
Total investment securities		96,617		98		-		96,715
Cash and other								6,689
Total							$	103,404

2010	Level 1		Level 2		Level 3		Total
	(in thousands)
Equity securities:
Domestic	$	36,488		-		-		36,488
International		49,864		-		-		49,864
Fixed income securities:
Foreign bonds		-		73		-		73
Mortgage-backed security		-		130		-		130
Gold bullion		14,382		-		-		14,382
Total investment securities		100,734		203		-		100,937
Cash and other								5,631
Total							$	106,568

Summary of the activity of plan assets categorized as Level 3

	Options
	(in thousands)
Balance at December 31, 2008	$	(11)
Purchases, issuances and settlements		262
Actual return on plan assets, sold during the period		(123)
Proceeds from sales		(128)
Balance at December 31, 2009	$	-

Schedule of components of net periodic pension and other postretirement costs and assumptions related to those costs

	Pension Benefits						Other Postretirement Benefits
	2011		2010		2009		2011		2010		2009
	(in thousands)
Components of net periodic benefit cost:
Service cost	$	7,101		6,140		5,276		558		443		371
Interest cost		7,195		6,596		6,387		402		364		343
Expected return on plan assets		(8,764)		(7,499)		(6,428)		—		—		—
Actuarial loss amortization		1,805		1,617		1,595		—		—		—
Prior service cost amortization		555		555		555		55		45		39
Transition obligation amortization		5		5		5		—		—		—
Net periodic benefit cost	$	7,897		7,414		7,390		1,015		852		753

Schedule of assumptions used to determine net periodic cost and benefit obligation

	Pension Benefits						Postretirement Benefits
	2011		2010		2009		2011		2010		2009
Weighted average assumptions used to determine net periodic benefit cost for the years ended December 31:
Discount rate		6.00%		6.25%		6.75%		6.00%		6.25%		6.75%
Expected return on plan assets		7.75%		7.75%		7.75%		Not applicable
Rate of compensation increase		3.86%		3.86%		(1)		Not applicable

(1)

Rate of compensation increase was 0% for 2009, 2.5% for 2010 and 3.86% for 2011 and after.

Schedule of expected benefit payments to be paid

	Pension Benefits		Other Postretirement Benefits
	(in thousands)
2012	$	6,408		289
2013		7,823		364
2014		8,572		407
2015		8,034		424
2016		10,096		450
2017 through 2021		56,878		2,952
	$	97,811		4,886