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Pension and Other Postretirement Benefit Plans
9 Months Ended
Sep. 30, 2013
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
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Service cost
$
1,513

 
$
3,131

 
$
22

 
$
29

 
$
4,540

 
$
10,121

 
$
67

 
$
87

Interest cost
9,144

 
9,525

 
93

 
127

 
27,433

 
28,193

 
279

 
381

Expected return on plan assets
(12,970
)
 
(12,832
)
 

 

 
(38,909
)
 
(38,492
)
 

 

Amortization of prior service cost
3

 
102

 
(59
)
 
(59
)
 
10

 
302

 
(177
)
 
(177
)
Amortization of net loss (gain)
3,444

 
4,794

 
(11
)
 
(21
)
 
10,330

 
14,417

 
(34
)
 
(63
)
Net periodic cost
$
1,134

 
$
4,720

 
$
45

 
$
76

 
$
3,404

 
$
14,541

 
$
135

 
$
228


The Company expects, based on current actuarial calculations, to contribute approximately $15 million to its defined benefit plans and $1 million to its other postretirement benefit plans in 2013, of which $12.8 million and $0.4 million have been contributed during the first nine months of 2013, respectively. The Company contributed $4 million to its defined benefit plans and $1 million to its other postretirement benefit plans in 2012. 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.