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Pension And Postretirement Benefit Costs (Tables)

12 Months Ended

Dec. 31, 2012

Schedule Of Cumulative Employer Contributiuons In Excess Of Net Peroidic Pension Cost



		2012		2011
A. Cumulative balance at beginning of year	$	2,819,837	$	1,496,368
B. Net periodic pension cost		2,037,708		1,858,238
C. Contributions		3,473,960		3,181,707
D. Cumulative balance at end of year	$	4,256,089	$	2,819,837
(A) - (B) + (C)

Schedule Of Percentage Allocation Between FIxed Income And Equity



Equities					60%
Fixed Income					40%

Schedule of Allocation of Plan Assets



	2012	2011
Equities	60%	59%
Debt Securities	28%	33%
Other	12%	8%

Schedule Of Fair Value Of Pension Plan Assets By Asset Category



			Fair Value Measurements Using:
				Quoted Prices
				in Active		Significant		Significant
				Markets for		Observable		Unobservable
				Identical Assets		Inputs		Inputs
2012		Total		(Level 1)		(Level 2)		(Level 3)
Cash and cash equivalents	$	3,614,499	$	3,614,499	$	0	$	0
Equity securities:
Materials		1,886,542		1,886,542		0		0
Industrials		1,872,477		1,872,477		0		0
Telecommunication		610,250		610,250		0		0
Consumer discretion		2,111,021		2,111,021		0		0
Consumer staples		1,331,728		1,331,728		0		0
Energy		2,107,767		2,107,767		0		0
Financials		3,908,829		3,908,829		0		0
Healthcare		1,417,891		1,417,891		0		0
Information technology		1,078,180		1,078,180		0		0
Utilities		1,178,734		1,178,734		0		0
Miscellaneous		227,115		227,115		0		0
Fixed income securities:
Corporate bonds		2,855,861		0		2,855,861		0
Foreign obligations		542,869		0		542,869		0
U.S. Government obligations		5,035,220		0		5,035,220		0
Total	$	29,778,983	$	21,345,033	$	8,433,950	$	0



			Fair Value Measurements Using:
				Quoted Prices
				in Active		Significant		Significant
				Markets for		Observable		Unobservable
				Identical Assets		Inputs		Inputs
2011		Total		(Level 1)		(Level 2)		(Level 3)
Cash and cash equivalents	$	2,178,779	$	2,178,779	$	0	$	0
Equity securities:
Materials		968,780		968,780		0		0
Industrials		1,337,053		1,337,053		0		0
Telecommunication		1,047,271		1,047,271		0		0
Consumer discretion		1,586,710		1,586,710		0		0
Consumer staples		1,243,017		1,243,017		0		0
Energy		2,193,419		2,193,419		0		0
Financials		2,531,761		2,531,761		0		0
Healthcare		2,291,527		2,291,527		0		0
Information technology		1,012,703		1,012,703		0		0
Utilities		1,230,939		1,230,939		0		0
Fixed income securities:
Corporate bonds		2,018,801		0		2,018,801		0
Foreign obligations		349,143		0		349,143		0
U.S. Government obligations		6,093,543		0		6,093,543		0
Total	$	26,083,446	$	17,621,959	$	8,461,487	$	0

Schedule of Multiemployer Plans

Pension

Protection

Expiration

EIN/

Act

FIP/RP

Date of

Pension

Zone

Status

Sur-

Collective

Pension

Plan

Status

Pending/

Contributions by Company

charge

Bargaining

Fund

Number

2012

2011

Implemented

2012

2011

2010

Imposed

Agreement

Central

States,

Southeast

Southwest

3/31/2015

Areas

Pension

36-6044243

4/30/2014

Plan

/001

Red

Yes

261,694

222,748

241,585

Yes

^(a)

Other

funds

37,382

30,656

34,018

Total contributions:

299,076

253,404

275,603

(a) The Company is party to two collective-bargaining agreements that require contributions to Central States, Southeast & Southwest Areas Pension Plan. In 2012, 35% of the Company's contributions were required by a collective bargaining agreement that expires 3/31/2015 and 65% were required by an agreement that expires 4/30/2014.

Pension Benefits [Member]

Schedule of Postretirement Funded Status And Cost



Change in benefit obligation		2012		2011
Benefit obligation at beginning of year	$	39,759,449	$	37,258,642
Service cost		799,030		751,666
Interest cost		1,976,494		2,020,706
Actuarial loss		2,403,021		1,605,833
Benefits paid		(1,917,482)		(1,877,398)
Benefit obligation at end of year	$	43,020,512	$	39,759,449

Change in plan assets
Fair value of plan assets at beginning of year	$	26,083,446	$	24,535,569
Actual return on plan assets		2,139,059		243,568
Employer contributions		3,473,960		3,181,707
Benefits paid		(1,917,482)		(1,877,398)
Fair value of plan assets at end of year	$	29,778,983	$	26,083,446

Funded status, end of year
Fair value of plan assets	$	29,778,983	$	26,083,446
Benefit obligation		43,020,512		39,759,449
Funded status = pension liability, end of year	$	(13,241,529)	$	(13,676,003)

Schedule Of Net Periodic Pension And Postretirement Benefit Costs



		2012		2011		2010
Service cost	$	799,030	$	751,666	$	668,980
Interest cost		1,976,494		2,020,706		2,063,316
Expected return on plan assets		(2,081,173)		(1,937,101)		(1,725,336)
Amortization of prior service cost		108,763		109,978		109,978
Recognized net actuarial loss		1,234,594		912,989		868,654
Net periodic pension expense	$	2,037,708	$	1,858,238	$	1,985,592

Schedule of Amounts Recognized in Balance Sheet



		2012		2011
Current liability	$	-	$	-
Noncurrent liability		(13,241,529)		(13,676,003)
Net amount recognized	$	(13,241,529)	$	(13,676,003)

Schedule Of Amounts Recognized In Accumulated Other Comprehensive Income



		2012		2011
Net actuarial loss	$	16,767,679	$	15,657,138
Prior service cost		729,939		838,702
	$	17,497,618	$	16,495,840
Less: Deferred tax		7,000,000		6,600,000
Additional pension liability, net of deferred tax	$	10,497,618	$	9,895,840

Changes In Benefit Obligations Recognized In Other Comprehensive Income



		2012		2011		2010
Current year actuarial loss	$	2,345,135	$	3,299,366	$	1,732,397
Amortization of actuarial loss		(1,234,594)		(912,989)		(868,654)
Amortization of prior service cost		(108,763)		(109,978)		(109,978)
	$	1,001,778	$	2,276,399	$	753,765
Less: Deferred tax		400,000		910,000		300,000
Minimum pension liability, net of deferred tax	$	601,778	$	1,366,399	$	453,765

Estimated Amounts To Be Amortized From Accumulated Other Comprehensive Income



Actuarial loss	$	1,380,000
Prior service cost		101,000
Total to be amortized	$	1,481,000

Schedule Of Amortization For Prior Service Costs



					12/31/2012		2012
	Established		Initial	Initial	Outstanding		Amortization
Description	Dec. 31 of:		Amount	Period	Balance		Amount
Unrecognized Prior Service Cost
	1996	$	162,785	15.881 Years	$	0	$	9,035
	1999		37,715	16.530 Years		8,049		2,282
	2001		409,804	15.745 Years		123,496		26,028
	2003		22,267	13.230 Years		7,120		1,683
	2007		876,119	13.410 Years		549,454		65,333
	2009		55,026	12.500 Years		41,820		4,402
					$	729,939	$	108,763

Summary Of Accumulated Pension And Postretirement Benefit Obligations



Accumulated benefit obligation, end of year	$	41,447,396	$	38,228,400

Schedule of Expected Benefit Payments



2013		$	2,320,384
2014			2,361,828
2015			2,467,854
2016			2,650,762
2017			2,649,221
Five fiscal years ending			14,202,296
	December 31,2022

Schedule Of Assumptions Used To Determine The Benefit Obligation



	2012	2011	2010
Benefit obligation:
Discount Rate	4.50%	5.00%	5.50%
Expected return on plan assets	8.00%	8.00%	8.00%
Rate of compensation increase (Staff plan only)	3.50%	3.50%	4.00%

	2012	2011	2010
Pension cost:
Discount rate	5.00%	5.50%	6.00%
Expected return on plan assets	8.00%	8.00%	8.00%
Rate of compensation increase (Staff plan only)	3.50%	4.00%	4.50%

Postretirement Benefits [Member]

Schedule of Postretirement Funded Status And Cost



		2012		2011
Change in benefit obligation
Beginning of year	$	34,927,243	$	36,557,978
Service cost		693,729		614,264
Interest cost		1,720,183		1,744,912
Actuarial (gain)/loss		1,658,462		(2,869,661)
Benefits paid*		(1,106,625)		(1,120,250)
Benefit obligation at end of year	$	37,892,992	$	34,927,243

Change in fair value of plan assets
Beginning of year	$	0	$	0
Employer contributions*		1,106,625		1,120,250
Benefits paid*		(1,106,625)		(1,120,250)
Fair value of plan asset at end of year	$	0	$	0

*Amounts are net of retiree prescription drug subsidy received during the fiscal year.

Weighted Average Assumptions used to determine benefit obligations
		2012		2011
Discount rate		4.50%		5.00%
Trend rate		8% for fiscal 2012 decreasing 1%/yr to 5%		9% for fiscal 2011 decreasing 1%/yr to 5%

Funded status = year-end benefit liability	$	(37,892,992)	$	(34,927,243)

Schedule Of Accrued Postretirement Benefits



		2012		2011
A. Accrued postretirement benefits at beginning of year	$	(23,429,049)	$	(21,560,001)
B. Net periodic postretirement benefit cost		3,133,413		2,989,298
C. Employer contributions		1,167,785		1,186,222
D. Retiree drug subsidy		61,160		65,972
E. Accrued postretirement benefits at end of year	$	(25,455,837)	$	(23,429,049)
(A) - (B) + (C) - (D)

Schedule Of Net Periodic Pension And Postretirement Benefit Costs



		2012		2011		2010
Components of net periodic benefit cost
Service cost	$	693,729	$	614,264	$	545,569
Interest cost		1,720,183		1,744,912		1,868,486
Amortization of prior service cost		(50,752)		(50,752)		(50,752)
Unrecognized net loss		770,253		680,874		771,660
Net periodic benefit cost	$	3,133,413	$	2,989,298	$	3,134,963

Weighted Average Assumptions used to determine net periodic postretirement benefit cost

		2012		2011		2010
Discount rate		5.00%		5.50%		6.00%
Trend rate		8% for fiscal 2012 decreasing 1%/yr to 5%		9% for fiscal 2011 decreasing 1%/yr to 5%		9% for fiscal 2010 decreasing 1%/yr to 5%

Schedule of Amounts Recognized in Balance Sheet



		2012		2011
Current liability	$	(1,630,000)	$	(1,600,000)
Noncurrent liability		(36,262,992)		(33,327,243)
Net amount recognized	$	(37,892,992)	$	(34,927,243)

Schedule Of Amounts Recognized In Accumulated Other Comprehensive Income



		2012		2011
Net actuarial loss	$	12,553,882	$	11,665,673
Prior service credit		(116,727)		(167,479)
	$	12,437,155	$	11,498,194

Changes In Benefit Obligations Recognized In Other Comprehensive Income



		2012		2011		2010
Current year actuarial (gain)/loss	$	1,658,462	$	(2,869,661)	$	3,364,218
Amortization of actuarial loss		(770,253)		(680,874)		(771,660)
Amortization of prior service credit		50,752		50,752		50,752
Total recognized in other comprehensive income	$	938,961	$	(3,499,783)	$	2,643,310

Estimated Amounts To Be Amortized From Accumulated Other Comprehensive Income

Schedule Of Amortization For Prior Service Costs

12/31/2012

Date

Initial

Outstanding

Annual

Description

Established

Amount

Initial Period

Balance

Amortization

Lifetime

Maximums

12/31/2009

(268,983)

5.3 years

(116,727)

(50,752)

Summary Of Accumulated Pension And Postretirement Benefit Obligations



Assuming Medicare Part D Subsidy receipts	$	37,892,992
Assuming no Medicare Part D Subsidy receipts		40,234,367

Schedule of Expected Benefit Payments



December 31, 2013	$	1,627,819
December 31, 2014		1,783,550
December 31, 2015		1,897,785
December 31, 2016		1,940,507
December 31, 2017		1,994,800
Five fiscal years ending December 31, 2022		10,529,561

Impact On Certain Items Of A Percentage Point Increase and Decrease In Trend Rates



		1% Increase		1% Decrease
Interest cost and service cost for 2012
Amount prior to change	$	2,413,912	$	2,413,912
Amount after 1 percentage point change		2,855,717		2,061,612
Increase (decrease)		441,805		(352,300)

Accumulated postretirement benefit obligation at December 31, 2012
Amount prior to change		37,892,992		37,892,992
Amount after 1 percentage point change		43,406,649		32,592,525
Increase (decrease)		5,513,657		(5,300,467)

Actuarial loss

Prior service credit