Pension plans and other postretirement benefits

3 Months Ended

Mar. 31, 2013

Compensation And Retirement Disclosure [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 benefit cost for defined benefit plans consisted of the following:


	Pension benefits						Other postretirement benefits
	Three months ended March 31
	2013			2012			2013			2012
	(in thousands)
Service cost	$	6,050			7,900			200			175
Interest cost on projected benefit obligation		15,126			15,600			675			950
Expected return on plan assets		(21,875	)		(17,675	)		—			—
Amortization of prior service credit		(1,650	)		(1,650	)		(350	)		—
Amortization of net actuarial loss		10,400			9,400			100			100

Net periodic benefit cost	$	8,051			13,575			625			1,225

Expense incurred in connection with the Company’s defined contribution pension and retirement savings plans totaled $15,755,000 and $14,625,000 for the three months ended March 31, 2013 and 2012, respectively.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

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+ Details