Pension plans and other postretirement benefits

6 Months Ended

Jun. 30, 2012

Pension plans and other postretirement benefits [Abstract]

Pension plans and other postretirement benefits

7. Pension plans and other postretirement benefits

The Company provides defined benefit pension and other postretirement benefits (including health care and life insurance benefits) to qualified retired employees. Net periodic defined benefit cost for defined benefit plans consisted of the following:

	Pension benefits						Other postretirement benefits
	Three months ended June 30
	2012			2011			2012		2011
	(in thousands)
Service cost	$	6,875			6,413			159		115
Interest cost on projected benefit obligation		15,418			14,086			919		909
Expected return on plan assets		(17,581	)		(14,563	)		—		—
Amortization of prior service cost		(1,629	)		(1,629	)		10		29
Amortization of net actuarial loss		9,183			5,165			165		18
Net periodic benefit cost	$	12,266			9,472			1,253		1,071

	Pension benefits						Other postretirement benefits
	Six months ended June 30
	2012			2011			2012		2011
	(in thousands)
Service cost	$	14 ,775			11,713			334		240
Interest cost on projected benefit obligation		31,018			26,236			1,869		1,684
Expected return on plan assets		(35,256	)		(27,263	)		—		—
Amortization of prior service cost		(3,279	)		(3,279	)		10		54
Amortization of net actuarial loss		18,583			10,265			265		18
Net periodic benefit cost	$	25,841			17,672			2,478		1,996

Expense incurred in connection with the Company’s defined contribution pension and retirement savings plans totaled $11,390,000 and $9,890,000 for the three months ended June 30, 2012 and 2011, respectively, and $26,015,000 and $20,066,000 for the six months ended June 30, 2012 and 2011, respectively.