Employee Benefit Plans and Other Postretirement Benefits

6 Months Ended

Jun. 30, 2012

Employee Benefit Plans and Other Postretirement Benefits

7. Employee Benefit Plans and Other Postretirement Benefits

For the three- and six-month periods ended June 30, 2012 and 2011, net pension costs were comprised of the following:

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
(In thousands)
Components of Net Pension Costs
Service cost for benefits earned during the year	$	5,606		$	4,952		$	11,212		$	9,904
Interest cost on accumulated benefit obligation		3,700			3,368			7,400			6,736
Expected return on assets		(3,027	)		(3,386	)		(6,054	)		(6,772	)
Net amortization of unrecognized amounts
Prior service cost		1,498			1,446			2,996			2,891
Actuarial loss		1,229			103			2,458			206
Net pension costs	$	9,006		$	6,483		$	18,012		$	12,965

The Company makes pension plan contributions that are sufficient to fund its actuarially determined costs, generally equal to the minimum amounts required by the Employee Retirement Income Security Act (ERISA). However, from time to time the Company may make discretionary contributions in excess of the required minimum amounts. The Company expects to contribute $37.2 million to the pension plans in 2012, of which $11.9 million has been contributed through June 30, 2012.

For the three- and six-month periods ended June 30, 2012 and 2011, net postretirement costs were comprised of the following:

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
(In thousands)
Components of Net Postretirement Costs
Service cost for benefits earned during the year	$	464		$	400		$	928		$	800
Interest cost on accumulated benefit obligation		310			297			620			595
Net amortization of unrecognized amounts
Prior service cost		(104	)		(104	)		(209	)		(208	)
Actuarial loss		113			112			226			224
Net postretirement costs	$	783		$	705		$	1,565		$	1,411