XML 57 R16.htm IDEA: XBRL DOCUMENT v3.2.0.727
Employee Benefits
 6 Months Ended
Jun. 30, 2015
General Discussion of Pension and Other Postretirement Benefits [Abstract]  
Employee Benefits
Employee Benefits
Retirement Plans
The net periodic benefit cost recognized for the three, six and twelve months ended June 30, 2015 and 2014 is made up of the components listed below as determined using the projected unit credit actuarial cost method (in thousands):
 
Three Months Ended
 
Six Months Ended
 
Twelve Months Ended
 
June 30,
 
June 30,
 
June 30,
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Components of net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
2,100

 
$
2,189

 
$
4,200

 
$
4,362

 
$
8,425

 
$
8,859

Interest cost
3,625

 
3,790

 
7,250

 
7,660

 
14,632

 
14,474

Expected return on plan assets
(4,948
)
 
(4,656
)
 
(9,895
)
 
(9,336
)
 
(19,258
)
 
(17,894
)
Amortization of:
 
 
 
 
 
 
 
 
 
 
 
Net loss
2,750

 
2,515

 
5,500

 
4,288

 
10,065

 
9,966

Prior service benefit
(887
)
 
(894
)
 
(1,775
)
 
(1,153
)
 
(3,528
)
 
(1,106
)
Net periodic benefit cost
$
2,640

 
$
2,944

 
$
5,280

 
$
5,821

 
$
10,336

 
$
14,299


During the six months ended June 30, 2015, the Company contributed $6.6 million of its projected $11.1 million 2015 annual contribution to its retirement plans.
Other Postretirement Benefits
The net periodic benefit cost recognized for the three, six and twelve months ended June 30, 2015 and 2014 is made up of the components listed below (in thousands): 
 
Three Months Ended
 
Six Months Ended
 
Twelve Months Ended
 
June 30,
 
June 30,
 
June 30,
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Components of net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
875

 
$
722

 
$
1,750

 
$
1,422

 
$
3,173

 
$
3,065

Interest cost
1,025

 
1,107

 
2,050

 
2,232

 
4,281

 
4,638

Expected return on plan assets
(525
)
 
(533
)
 
(1,050
)
 
(1,058
)
 
(2,108
)
 
(2,059
)
Amortization of:
 
 
 
 
 
 
 
 
 
 
 
Prior service benefit
(775
)
 
(1,176
)
 
(1,550
)
 
(2,376
)
 
(3,927
)
 
(5,183
)
Net gain
(500
)
 
(686
)
 
(1,000
)
 
(1,336
)
 
(2,335
)
 
(1,962
)
Net periodic benefit cost (benefit)
$
100

 
$
(566
)
 
$
200

 
$
(1,116
)
 
$
(916
)
 
$
(1,501
)

The Company has not contributed to its other postretirement benefits plan during the six months ended June 30, 2015 and does not expect to contribute to its other postretirement benefit plan in 2015.