EMPLOYEE BENEFITS (Tables)

12 Months Ended

Dec. 31, 2012

EMPLOYEE BENEFITS

Summary of change in benefit obligation

(In thousands)
Change in Benefit Obligation
Benefit obligation at December 31, 2010	$	17,510
Service cost		986
Interest cost		807
Payments		(526	)
Actuarial loss		1,453
Benefit obligation at December 31, 2011	$	20,230
Service cost		878
Interest cost		761
Amortization of (Gain)/Loss		40
Payments		(706	)
Actuarial loss		1,174
Benefit obligation at December 31, 2012	$	22,377
Unfunded status	$	22,377
Unamortized net (gain) loss		—
Net amount recognized	$	22,377
Amounts Recognized in the Consolidated Balance Sheet
Current Accrued liabilities		1,247
Non-Current Accrued liabilities		21,130
Total Accrued liabilities	$	22,377

Schedule of weighted average assumptions used to determine benefit obligation and net benefit cost

	2012			2011
Discount rate		3.25	%		3.90	%
Average rate of increase in compensation		3.00	%		3.00	%

Schedule of future payments under the plan

(In thousands)
2013	$	1,247
2014		1,578
2015		1,578
2016		1,578
2017		1,578
Thereafter		14,818
	$	22,377