Net Periodic Pension and Post-Retirement Costs

6 Months Ended

Feb. 28, 2013

Net Periodic Pension and Post-Retirement Costs

Net Periodic Pension and Post-Retirement Costs

Note 10: Net Periodic Pension and Post-Retirement Costs

The following schedules provide the components of the Net Periodic Pension and Post-Retirement Costs for the six months and three months ended February 28, 2013 and February 29, 2012:

Components of Net Periodic Pension Cost

	For the Six Months Ended						For the Three Months Ended
	February 28			February 29			February 28			February 29
(In Thousands)	2013			2012			2013			2012
Service Cost	$	1,083		$	2,233		$	541		$	1,117
Interest Cost	4,401			4,827			2,200			2,413
Expected Return on Plan Assets	(6,979		)	(6,256		)	(3,489		)	(3,128		)
Amortization of Prior Service Costs	4			—			2			—
Amortization of Net Actuarial Loss	4,831			3,564			2,416			1,782
Net Periodic Pension Cost	$	3,340		$	4,368		$	1,670		$	2,184

Components of Net Periodic Post-Retirement Cost

	For the Six Months Ended					For the Three Months Ended
	February 28		February 29			February 28		February 29
(In Thousands)	2013		2012			2013		2012
Service Cost	$	561	$	319		$	281	$	159
Interest Cost	764		840			382		420
Amortization of Net Actuarial (Gain)/Loss	114		(353		)	57		(176		)
Net Periodic Post-Retirement Cost	$	1,439	$	806		$	720	$	403

The Company made contributions of $2.4 million to the pension plans during the six months ended February 28, 2013 and is anticipating making total contributions of $6.8 million to the pension plans during this fiscal year. The Company has contributed and made benefit payments of approximately $50,000 related to the Supplemental Executive Retirement Plans during the six months ended February 28, 2013. The Company expects to contribute and make benefit payments totaling approximately $99,000 this fiscal year related to the Supplemental Executive Retirement Plans.

The Company has contributed and made benefit payments of approximately $800,000 related to the post-retirement plans during the six months ended February 28, 2013. The Company expects to contribute and make benefit payments of approximately $1.6 million related to the post-retirement plans during this fiscal year.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

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