PENSION AND POST RETIREMENT PLANS

9 Months Ended

Sep. 30, 2012

PENSION AND POST RETIREMENT PLANS

PENSION AND POST RETIREMENT PLANS

NOTE 7.  PENSION AND POST RETIREMENT PLANS

A summary of the components of net periodic pension benefit costs for the three and nine months ended September 30, 2012 and 2011 is as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2012			2011			2012			2011
	(in thousands)						(in thousands)
Service cost	$	304		$	422		$	931		$	1,203
Interest cost	2,027			2,182			6,112			6,453
Expected return on plan assets	(2,357		)	(2,575		)	(7,113		)	(7,592		)
Amortization of prior service cost	(13		)	(20		)	(40		)	(57		)
Amortization of transition asset	(66		)	(76		)	(201		)	(215		)
Amortization of loss	594			472			1,807			1,356
Net periodic benefit cost	$	489		$	405		$	1,496		$	1,148

A summary of the components of net postretirement benefits costs for the three and nine months ended September 30, 2012 and 2011 is presented below.

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2012			2011			2012			2011
	(in thousands)						(in thousands)
Service cost	$	4		$	5		$	12		$	14
Interest cost	28			34			84			103
Amortization of prior service cost	(88		)	(89		)	(264		)	(265		)
Amortization of loss	(2		)	—			(6		)	—
Net periodic benefit (credit) cost	$	(58	)	$	(50	)	$	(174	)	$	(148	)

The Company provides defined benefit plans to eligible domestic and foreign employees. In 2010, we permanently froze the accrual of benefits under the domestic plan and one of our foreign plans.  Contributions to the domestic plans for the nine months ended September 30, 2012 and September 30, 2011 were $4.9 million and $1.7 million, respectively. Contributions to the foreign plans for the nine months ended September 30, 2012 and September 30, 2011 were $1.8 million and $1.8 million, respectively. For the year ending December 31, 2012, the total expected contributions to the domestic and foreign defined benefit plans are $4.9 million and $2.4 million, respectively.