BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2014



in thousands	2014	2013
Change in Benefit Obligation
Projected benefit obligation at beginning of year	$ 911,700	$ 991,338
Service cost	4,157	21,904
Interest cost	44,392	40,995
Plan amendment 1	0	(39,443)
Actuarial (gain) loss	167,041	(61,548)
Benefits paid	(44,068)	(41,546)
Projected benefit obligation at end of year	$ 1,083,222	$ 911,700
Change in Fair Value of Plan Assets
Fair value of assets at beginning of year	$ 756,624	$ 683,091
Actual return on plan assets	98,928	110,224
Employer contribution	5,488	4,855
Benefits paid	(44,068)	(41,546)
Fair value of assets at end of year	$ 816,972	$ 756,624
Funded status	(266,250)	(155,076)
Net amount recognized	$ (266,250)	$ (155,076)
Amounts Recognized in the Consolidated
Balance Sheets
Noncurrent assets	$ 0	$ 3,056
Current liabilities	(13,719)	(11,398)
Noncurrent liabilities	(252,531)	(146,734)
Net amount recognized	$ (266,250)	$ (155,076)
Amounts Recognized in Accumulated
Other Comprehensive Income
Net actuarial loss	$ 249,867	$ 142,173
Prior service credit	(356)	(168)
Total amount recognized	$ 249,511	$ 142,005


1	The 2013 amendment eliminated future accruals for salaried pension participants effective December 31, 2013.



dollars in thousands	2014	2013	2012
Components of Net Periodic Pension
Benefit Cost
Service cost	$ 4,157	$ 21,904	$ 22,349
Interest cost	44,392	40,995	43,194
Expected return on plan assets	(50,802)	(47,425)	(48,780)
Curtailment loss	0	855	0
Amortization of prior service cost	188	339	274
Amortization of actuarial loss	11,221	20,429	19,526
Net periodic pension benefit cost	$ 9,156	$ 37,097	$ 36,563
Changes in Plan Assets and Benefit
Obligations Recognized in Other
Comprehensive Income
Net actuarial loss (gain)	$ 118,915	$ (163,205)	$ 63,981
Prior service cost (credit)	0	(583)	1,286
Reclassification of actuarial loss to net
periodic pension benefit cost	(11,221)	(20,429)	(19,526)
Reclassification of prior service cost to net
periodic pension benefit cost	(188)	(1,194)	(274)
Amount recognized in other comprehensive
income	$ 107,506	$ (185,411)	$ 45,467
Amount recognized in net periodic pension
benefit cost and other comprehensive
income	$ 116,662	$ (148,314)	$ 82,030
Assumptions
Weighted-average assumptions used to
determine net periodic benefit cost for
years ended December 31
Discount rate	4.91%	4.33%	4.96%
Expected return on plan assets	7.50%	7.50%	8.00%
Rate of compensation increase
(for salary-related plans)	3.50%	3.50%	3.50%
Weighted-average assumptions used to
determine benefit obligation at
December 31
Discount rate	4.14%	4.91%	4.19%
Rate of compensation increase
(for salary-related plans)	3.70%	3.50%	3.50%

Fair Value Measurements at December 31, 2014



in thousands	Level 1 1	Level 2 1	Level 3 1	Total
Asset Category
Debt securities	$ 0	$ 164,695	$ 0	$ 164,695
Investment funds
Commodity funds	0	19,480	0	19,480
Equity funds	457	506,912	0	507,369
Short-term funds	0	15,495	0	15,495
Venture capital and partnerships	0	0	109,933	109,933
Total pension plan assets	$ 457	$ 706,582	$ 109,933	$ 816,972


1	See Note 1 under the caption Fair Value Measurements for a description of the fair value hierarchy.

Fair Value Measurements at December 31, 2013



in thousands	Level 1 1	Level 2 1	Level 3 1	Total
Asset Category
Debt securities	$ 0	$ 137,034	$ 0	$ 137,034
Investment funds
Commodity funds	0	23,773	0	23,773
Equity funds	602	490,355	0	490,957
Short-term funds	0	16,378	0	16,378
Venture capital and partnerships	0	0	88,482	88,482
Total pension plan assets	$ 602	$ 667,540	$ 88,482	$ 756,624


1	See Note 1 under the caption Fair Value Measurements for a description of the fair value hierarchy.



			Venture
			Capital and
in thousands			Partnerships
Balance at December 31, 2012			$ 98,011
Total gains (losses) for the period			10,581
Purchases, sales and settlements, net			(20,110)
Transfers in (out) of Level 3			0
Balance at December 31, 2013			$ 88,482
Total gains (losses) for the period 1			34,071
Purchases, sales and settlements, net			(12,940)
Transfers in (out) of Level 3			320
Balance at December 31, 2014			$ 109,933



in thousands			Pension
Estimated Future Benefit Payments
2015			$ 55,322
2016			51,749
2017			52,231
2018			56,112
2019			57,522
2020-2024			303,803



in thousands	2014	2013
Change in Benefit Obligation
Projected benefit obligation at beginning of year	$ 92,888	$ 113,500
Service cost	2,146	2,830
Interest cost	3,297	3,260
Liability reduction from curtailment	(2,639)	0
Actuarial gain	(2,617)	(20,444)
Benefits paid	(7,739)	(6,258)
Projected benefit obligation at end of year	$ 85,336	$ 92,888
Change in Fair Value of Plan Assets
Fair value of assets at beginning of year	$ 0	$ 0
Actual return on plan assets	0	0
Fair value of assets at end of year	$ 0	$ 0
Funded status	$ (85,336)	$ (92,888)
Net amount recognized	$ (85,336)	$ (92,888)
Amounts Recognized in the Consolidated
Balance Sheets
Current liabilities	$ (8,964)	$ (9,431)
Noncurrent liabilities	(76,372)	(83,457)
Net amount recognized	$ (85,336)	$ (92,888)
Amounts Recognized in Accumulated
Other Comprehensive Income
Net actuarial loss	$ 10,921	$ 16,405
Prior service credit	(28,160)	(36,319)
Total amount recognized	$ (17,239)	$ (19,914)



dollars in thousands	2014	2013	2012
Components of Net Periodic Postretirement
Benefit Cost
Service cost	$ 2,146	$ 2,830	$ 4,409
Interest cost	3,297	3,260	5,851
Curtailment gain	(3,832)	0	0
Amortization of prior service credit	(4,327)	(4,863)	(1,372)
Amortization of actuarial loss	227	1,372	1,346
Net periodic postretirement benefit cost (credit)	$ (2,489)	$ 2,599	$ 10,234
Changes in Plan Assets and Benefit
Obligations Recognized in Other
Comprehensive Income
Net actuarial (gain) loss	$ (5,256)	$ (20,444)	$ 13,562
Prior service credit	0	0	(38,414)
Reclassification of actuarial loss to net
periodic postretirement benefit cost	(227)	(1,372)	(1,346)
Reclassification of prior service credit to net
periodic postretirement benefit cost	8,159	4,863	1,372
Amount recognized in other comprehensive
income	$ 2,676	$ (16,953)	$ (24,826)
Amount recognized in net periodic
postretirement benefit cost and other
comprehensive income	$ 187	$ (14,354)	$ (14,592)
Assumptions
Assumed Healthcare Cost Trend Rates
at December 31
Healthcare cost trend rate assumed
for next year	7.50%	7.50%	8.00%
Rate to which the cost trend rate gradually
declines	5.00%	5.00%	5.00%
Year that the rate reaches the rate it is
assumed to maintain	2025	2019	2019
Weighted-average assumptions used to
determine net periodic benefit cost for
years ended December 31
Discount rate	4.10%	3.30%	4.60%
Weighted-average assumptions used to
determine benefit obligation at
December 31
Discount rate	3.50%	4.10%	3.30%



in thousands			Postretirement
Estimated Future Benefit Payments
2015			$ 8,964
2016			8,750
2017			8,462
2018			8,472
2019			8,213
2020–2024			34,592



in thousands			Postretirement
Participants Contributions
2012			$ 1,901
2013			2,022
2014			1,873