Pension and postretirement benefits

9 Months Ended

Sep. 30, 2012

Notes to Financial Statements [Abstract]

Pension And Other Postretirement Benefits Disclosure Text Block

Note 27 – Pension and postretirement benefits

The Corporation has a non-contributory defined benefit pension plan and supplementary pension benefit restoration plans for regular employees of certain of its subsidiaries. The accrual of benefits under the plans is frozen to all participants.

The components of net periodic pension cost for the periods presented were as follows:

		Pension Plan				Benefit Restoration Plans
		Quarters ended September 30,				Quarters ended September 30,
(In thousands)		2012		2011		2012		2011
Interest Cost	$	7,495	$	7,784	$	393	$	395
Expected return on plan assets		(9,810)		(10,840)		(526)		(450)
Amortization of net loss		5,426		2,829		323		148
Total net periodic pension cost (benefit)	$	3,111	$	(227)	$	190	$	93

		Pension Plans				Benefit Restoration Plans
		Nine months ended September 30,				Nine months ended September 30,
(In thousands)		2012		2011		2012		2011
Interest Cost	$	22,486	$	23,354	$	1,179	$	1,186
Expected return on plan assets		(29,430)		(32,521)		(1,578)		(1,350)
Amortization of net loss		16,277		8,486		969		443
Total net periodic pension cost (benefit)	$	9,333	$	(681)	$	570	$	279

The Corporation did not make anycontributions to the pension and benefit restoration plansduring the quarter and nine months ended September 30,2012. The total contributions expected to be paid during the year 2012 for the pension and benefit restoration plans amount to approximately$58million.

The Corporation also provides certain postretirement health care benefits for retired employees of certain subsidiaries. The table that follows presents the components of net periodic postretirement benefit cost.

		Postretirement Benefit Plan
		Quarters ended September 30,				Nine months ended September 30,
(In thousands)		2012		2011		2012		2011
Service cost	$	548	$	504	$	1,642	$	1,512
Interest cost		1,950		2,135		5,851		6,405
Amortization of prior service cost		(50)		(240)		(150)		(720)
Amortization of net loss		540		267		1,621		801
Total net periodic postretirement benefit cost	$	2,988	$	2,666	$	8,964	$	7,998

Contributions made to the postretirement benefit plan for the quarter and nine monthsended September 30, 2012amounted to approximately $1.8 million and $5.6million, respectively. The total contributions expected to be paid during the year 2012 for the postretirement benefit plan amount to approximately $7.4million.