Pension and Other Postretirement Benefit Plans

9 Months Ended

Sep. 30, 2012

Pension and Other Postretirement Benefit Plans

Pension and Other Postretirement Benefit Plans

The components of net periodic cost are as follows:

	Three Months Ended September 30,												Nine Months Ended September 30,
(in thousands)	Pension Benefits						Other Postretirement Benefits						Pension Benefits						Other Postretirement Benefits
	2012			2011			2012			2011			2012			2011			2012			2011
Service cost	$	3,131		$	2,951		$	29		$	28		$	10,121		$	8,852		$	87		$	85
Interest cost	9,525			9,555			127			156			28,193			28,666			381			441
Expected return on plan assets	(12,832		)	(12,585		)	—			—			(38,492		)	(37,757		)	—			—
Amortization of prior service cost	102			105			(59		)	(127		)	302			314			(177		)	(177		)
Amortization of net loss (gain)	4,794			1,685			(21		)	43			14,417			5,054			(63		)	(75		)
Net periodic cost	$	4,720		$	1,711		$	76		$	100		$	14,541		$	5,129		$	228		$	274

The Company expects, based on current actuarial calculations, to contribute approximately $5 million to its defined benefit plans and $1 million to its other postretirement benefit plans in 2012, of which$3.3 million and $1.2 million have been contributed during the first nine months of 2012, respectively. The Company contributed $47.5 million to its defined benefit plans and $1.4 million to its other postretirement benefit plans in 2011. Cash contributions for subsequent years will depend on a number of factors, including the impact of the Pension Protection Act signed into law in 2006, changes in minimum funding requirements, long-term interest rates, the investment performance of plan assets and changes in employee census data affecting the Company’s projected benefit obligations.