Benefit Plans

6 Months Ended

Jun. 30, 2012

General Discussion of Pension and Other Postretirement Benefits [Abstract]

Benefit Plans

Benefit Plans

The following table provides the components of the Company’s net periodic benefit cost (credit) for the three and six months ended June 30, 2012 and 2011, respectively.

	Pension Benefits
	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
Interest cost	$	2,547		$	3,164		$	5,347		$	6,354
Expected return on plan assets	(3,097		)	(3,727		)	(6,709		)	(7,250		)
Settlement loss	1,540			403			1,540			403
Amortization of net loss	125			—			384			—
Net periodic benefit cost (credit)	$	1,115		$	(160	)	$	562		$	(493	)

On April 30, 2012, settlements of the Dex Media, Inc. Pension Plan and Dex One Pension Benefit Equalization Plan ("PBEP") occurred as a result of restructuring activities. At that time, year-to-date lump sum payments to participants exceeded the sum of the service cost plus interest cost components of the net periodic benefit cost for the period. These settlements resulted in the recognition of an actuarial loss of $1.5 million for the three and six months ended June 30, 2012. Pension liabilities and expense for the Dex Media, Inc. Pension Plan and PBEP were recomputed based on assumptions as of April 30, 2012, resulting in a decrease in the discount rate from 4.38% at December 31, 2011 to 4.22% for the Dex Media, Inc. Pension Plan and 4.51% at December 31, 2011 to 4.25% for the PBEP. The Company utilized a yield curve to determine the appropriate discount rate based on each plan's expected future cash flows. The expected return on plan assets assumption was also reduced for the Company's benefit plans from 8.0% at December 31, 2011 to 7.5%. On May 31, 2011, settlements of the Dex Media, Inc. Pension Plan occurred. These settlements resulted in the recognition of an actuarial loss of $0.4 million for the three and six months ended June 30, 2011.

The Company made contributions to its pension plans of $2.3 million and $1.4 million during the three months ended June 30, 2012 and 2011, respectively, and $9.3 million and $12.8 million during the six months ended June 30, 2012 and 2011, respectively. We expect to make total contributions of approximately $16.3 million to our pension plans in 2012.