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Retirement and Benefit Plans
6 Months Ended
Jun. 30, 2012
Retirement and Benefit Plans

10. Retirement and Benefit Plans

Components of Net Periodic Benefit Cost (Income)

The following represents the components of net periodic benefit cost (income) for pension and other postretirement benefits which are recorded in operating, selling and general and administrative expense in the Consolidated Statements of Operations:

 

     Three Months Ended  
     Pension Benefits     Other Benefits  
     June 30,
2012
    June 25,
2011
    June 30,
2012
    June 25,
2011
 
     (thousands)  

Service cost

   $ 927      $ 634      $ 72      $ 18   

Interest cost

     16,186        17,546        230        207   

Expected return on plan assets

     (20,774     (20,098     —          —     

Recognized actuarial loss

     4,486        4,325        45        26   

Amortization of prior service credits

     —          —          (1,001     (1,002
  

 

 

   

 

 

   

 

 

   

 

 

 

Net periodic benefit cost (income)

   $ 825      $ 2,407      $ (654   $ (751
  

 

 

   

 

 

   

 

 

   

 

 

 

 

 

     Six Months Ended  
     Pension Benefits     Other Benefits  
     June 30,
2012
    June 25,
2011
    June 30,
2012
    June 25,
2011
 
     (thousands)  

Service cost

   $ 1,870      $ 1,273      $ 144      $ 115   

Interest cost

     32,344        35,088        466        507   

Expected return on plan assets

     (41,547     (40,203     —          —     

Recognized actuarial loss

     8,977        8,752        101        110   

Amortization of prior service credits

     —          —          (2,004     (2,004
  

 

 

   

 

 

   

 

 

   

 

 

 

Net periodic benefit cost (income)

   $ 1,644      $ 4,910      $ (1,293   $ (1,272
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash Flows

The Company expects to fund the minimum pension contribution requirement for 2012 of approximately $21 million to $28 million with cash. As of June 30, 2012, $12.6 million in cash has been contributed.