Pensions and Postretirement Benefits Other than Pensions

9 Months Ended

Sep. 30, 2012

Pensions and Postretirement Benefits Other than Pensions

8. Pensions and Postretirement Benefits Other than Pensions

The following tables disclose the amount of net periodic benefit costs for the Company’s defined benefit plans and other postretirement benefits relating to continuing operations:

	Pension Benefits - Domestic
	Three months ended September 30						Nine months ended September 30
	2011			2012			2011			2012
Components of net periodic benefit cost:
Service cost	$	1,925		$	2,354		$	5,775		$	7,061
Interest cost		11,250			10,714			33,750			32,142
Expected return on plan assets		(12,526	)		(10,754	)		(37,579	)		(32,264	)
Amortization of actuarial loss		7,575			9,205			22,725			27,614
Net periodic benefit cost	$	8,224		$	11,519		$	24,671		$	34,553
	Pension Benefits - International
	Three months ended September 30						Nine months ended September 30
	2011			2012			2011			2012
Components of net periodic benefit cost:
Service cost	$	627		$	1		$	1,885		$	753
Interest cost		4,523			4,280			13,600			12,722
Expected return on plan assets		(4,180	)		(3,892	)		(12,570	)		(11,371	)
Amortization of prior service cost		(187	)		—			(564	)		(184	)
Amortization of actuarial loss		1,449			1,643			4,358			5,099
Cooper Avon curtailment gain		—			—			—			(7,460	)
Net periodic benefit cost	$	2,232		$	2,032		$	6,709		$	(441	)
	Other Postretirement Benefits
	Three months ended September 30						Nine months ended September 30
	2011			2012			2011			2012
Components of net periodic benefit cost:
Service cost	$	775		$	1,040		$	2,327		$	3,121
Interest cost		3,462			3,133			10,385			9,399
Amortization of prior service cost		(172	)		(172	)		(516	)		(516	)
Amortization of actuarial loss		315			769			946			2,307
Net periodic benefit cost	$	4,380		$	4,770		$	13,142		$	14,311

Effective April 6, 2012, the Company amended the Cooper Avon Pension Plan to freeze all future pension benefits. As a result of this amendment, the Company recognized a pre-tax pension curtailment gain of $7,460 which was credited to cost of goods sold in the second quarter of 2012. This curtailment gain represents the prior service credit from a previous plan amendment. In connection with the current plan amendment, the Company remeasured the pension plan as of April 6, 2012 and recognized an actuarial gain of $7,707 through other comprehensive income as a result of changes in actuarial assumptions.