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Consolidated Statements of Income and Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
SALES $ 1,488,642 $ 1,315,233 $ 1,168,567
Costs and Expenses      
Cost of sales 1,073,732 990,099 914,772
Selling and general expenses 66,541 67,102 62,633
Other operating income, net (Note 14) (3,829) (10,519) (221,172)
Costs and Expenses, Total 1,136,444 1,046,682 756,233
Equity in income (loss) of New Zealand joint venture 4,088 1,033 (2,826)
OPERATING INCOME BEFORE GAIN ON SALE OF A PORTION OF INTEREST IN NEW ZEALAND JOINT VENTURE 356,286 269,584 409,508
Gain on sale of a portion of interest in New Zealand joint venture (Note 5) 0 12,367 0
OPERATING INCOME 356,286 281,951 409,508
Interest expense (50,775) (50,463) (52,441)
Interest and miscellaneous income, net 851 1,315 1,810
INCOME BEFORE INCOME TAXES 306,362 232,803 358,877
Income tax expense (30,357) (15,217) (46,336)
NET INCOME 276,005 217,586 312,541
OTHER COMPREHENSIVE INCOME (LOSS)      
Foreign currency translation adjustment 3,546 4,162 15,980
New Zealand joint venture cash flow hedges (2,373) 837 (2,305)
(Loss) gain from pension and postretirement plans, net of income benefit (expense) of $20,665, $1,570, and $(1,401) (46,263) 6,385 4,879
COMPREHENSIVE INCOME $ 230,915 $ 228,970 $ 331,095
EARNINGS PER COMMON SHARE      
Basic earnings per share $ 2.27 [1] $ 1.81 [1] $ 2.63
Diluted earnings per share $ 2.20 [1] $ 1.79 [1] $ 2.60
Dividends per share $ 1.52 $ 1.36 $ 1.33
[1] The impact of the August 2011 three-for-two stock split is reflected for all periods presented. See Note 9 — Earnings per Common Share for further information.