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Employee Benefit Plans
9 Months Ended
Sep. 29, 2012
Employee Benefit Plans [Abstract]  
Employee Benefit Plans

NOTE G - Employee Benefit Plans
The following table illustrates the components of net periodic benefit cost: 

 

 

 

 

 

 

 

 

 

 

 

 

 

(THOUSANDS OF DOLLARS)

THREE MONTHS ENDED

 

NINE MONTHS ENDED

 

SEPTEMBER 29,

 

OCTOBER 1,

 

SEPTEMBER 29,

 

OCTOBER 1,

 

2012

 

2011

 

2012

 

2011

Service cost

$

12 

 

$

13 

 

$

37 

 

$

38 

Interest cost

 

561 

 

 

554 

 

 

1,681 

 

 

1,662 

Expected return on plan assets

 

(578)

 

 

(559)

 

 

(1,732)

 

 

(1,678)

Amortization of unrecognized loss

 

287 

 

 

238 

 

 

863 

 

 

716 

Amortization of prior service cost

 

 

 

 

 

 

 

Net Periodic Benefit Cost

$

285 

 

$

249 

 

$

858 

 

$

747 

 

 

The Company contributed $5.2 million to its defined benefit pension plans in the first nine months of 2012, $2.5 million of which was an additional voluntary contribution.  The Company expects to contribute $6.0 million to its defined benefit pension plans in 2012, $3.5 million to meet minimum required contributions and the $2.5 million additional voluntary contribution.  Additionally, the Company expects to contribute $0.9 million to its defined contribution retirement plans in 2012.