Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2012

Employee Benefit Plans [Abstract]

Summary of Net Periodic Benefit Cost and Actuarial Assumptions Used to Determine Net Cost

A summary of net periodic benefit cost is as follows:

	Year ended December 31,
	2012			2011			2010
	(dollars in thousands)
Interest cost on projected benefit obligation	$	4,011		$	4,526		$	4,531
Return on plan assets		(4,783	)		(5,046	)		(4,960	)
Recognized net actuarial losses		5,487			4,050			2,818
Net periodic benefit cost	$	4,715		$	3,530		$	2,389
Actuarial assumptions used to determine net cost:
Discount rate		4.10	%		5.18	%		5.84	%
Expected return on assets		7.00	%		7.50	%		7.50	%
Rate of increase in compensation	n.a.			n.a.			n.a.

Target and Actual Asset Allocation for Pension Plan by Asset Category

The target asset allocation for the Company's pension plan by asset category for 2013 and the actual asset allocation at December 31, 2012 and 2011 by asset category are as follows:

	Percentage of Plan Assets at December 31,
	Target
	Allocation
Asset Category	2013			2012			2011
Cash		5.0	%		6.6	%		41.8	%
Equity securities:
Domestic		70.0	%		67.5	%		49.5	%
International		20.0	%		20.8	%		8.7	%
Fixed income securities		5.0	%		5.1	%		0.0	%
Total		100.0	%		100.0	%		100.0	%

Future Benefit Payments Under Defined Benefit Pension Plan

Future benefit payments under the plans are estimated as follows:

Year ended December 31,
	(in thousands)
2013	$	5,824
2014		5,878
2015		5,991
2016		6,016
2017		6,033
Thereafter		31,183
	$	60,925

Changes in Fair Value of Plan Assets and Plan Benefit Obligations and Funded Status of Plan

The following tables provide a reconciliation of the changes in the fair value of plan assets and plan benefit obligations during 2012 and 2011, and a summary of the funded status as of December 31, 2012 and 2011:

	Year ended December 31,
	2012			2011
	(in thousands)
Change in Fair Value of Plan Assets
Balance at beginning of year	$	62,105		$	61,702
Actual return on plan assets		3,621			(626	)
Company contribution		5,780			6,234
Benefit payments		(5,369	)		(5,205	)
Balance at end of year	$	66,137		$	62,105
	Year ended December 31,
		2012			2011
	(in thousands)
Change in Benefit Obligations
Balance at beginning of year	$	100,656		$	88,146
Interest cost		4,011			4,526
Assumption change loss		6,031			11,431
Actuarial (gain) loss		(9	)		1,758
Benefit payments		(5,369	)		(5,205	)
Balance at end of year	$	105,320		$	100,656
	At December 31,
		2012			2011
	(in thousands)
Funded Status
Funded status at December 31,	$	(39,183	)	$	(38,551	)

Amounts Recognized in Consolidated Balance Sheets

Amounts recognized in Consolidated Balance Sheets consist of:
Current liabilities	$	(187	)	$	(264	)
Long-term liabilities		(38,996	)		(38,287	)
Net amount recognized in Consolidated Balance Sheets	$	(39,183	)	$	(38,551	)

Amounts Not Yet Reflected in Net Periodic Benefit Cost and Included in Accumulated Other Comprehensive Loss

	Year ended December 31,
		2012			2011
	(in thousands)
Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive loss:
Net Actuarial loss	$	(60,935	)	$	(59,239	)
Accumulated other comprehensive loss		(60,935	)		(59,239	)
Cumulative Company contributions in excess of net periodic benefit cost		21,752			20,688
Net amount recognized in Consolidated Balance Sheets	$	(39,183	)	$	(38,551	)

Actuarial Assumptions Used to Determine Benefit Obligation

	Year ended December 31,
	2012			2011
Actuarial assumptions used to determine benefit obligation:
Discount rate		3.58	%		4.10	%
Rate of increase in compensation	n.a.			n.a.
Measurement date	December 31			December 31

Plan Assets at Fair Value

The following table sets forth the plan assets at fair value in accordance with the fair value hierarchy described in Note 3 – Fair Value Measurements:

At December 31, 2012	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Value
	(in thousands)
Cash and cash equivalents	$	4,386		-		-	$	4,386
Fixed Income		3,368		-		-		3,368
Mutual Funds		8,230		-		-		8,230
Equity Partnerships		-		5,823		-		5,823
Hedge Fund Investments:
Cash		2,591		-		-		2,591
Long-Short Equity Fund		-		9,826		9,992		19,818
Event Driven Fund		-		6,542		7,152		13,694
Distressed Credit		-		2,829		2,559		5,388
Multi-Strategy Fund		-		889		1,950		2,839
Total	$	18,575	$	25,909	$	21,653	$	66,137

	Quoted Prices
	in Active
	Markets for		Significant		Significant
	Identical		Observable		Unobservable
	Assets		Inputs		Inputs
At December 31, 2011	(Level 1)		(Level 2)		(Level 3)		Total Value
	(in thousands)
Cash and cash equivalents	$	25,951		-		-	$	25,951
Mutual Funds		5,040		-		-		5,040
Hedge Fund Investments:
Cash		1,385		-		-		1,385
Long-Short Equity Fund		-		-		12,821		12,821
Event Driven Fund		-		-		7,126		7,126
Distressed Credit		-		-		6,252		6,252
Multi-Strategy Fund		-		-		3,530		3,530
Total	$	32,376	$	-	$	29,729	$	62,105

Summary of Changes in the Fair Value of the Level 3 Plan Assets

The table below sets forth a summary of changes in the fair value of the Level 3 assets:

	Changes in Fair Value of Level 3 Assets
	Long-
	Short			Event						Multi-
	Equity			Driven			Distressed			Strategy
	Fund			Fund			Credit			Fund			Total
	(in thousands)
Balance, December 31, 2011	$	12,821		$	7,126		$	6,252		$	3,530		$	29,729
Realized gains		-			-			5			2			7
Unrealized gains		1,624			522			365			173			2,684
Purchases		5,555			3,798			20			19			9,392
Sales		-			-			(894	)		(773	)		(1,667	)
Transfer to Level 2 (1)		(10,008	)		(4,294	)		(3,189	)		(1,001	)		(18,492	)
Balance, December 31, 2012	$	9,992		$	7,152		$	2,559		$	1,950		$	21,653
	Changes in Fair Value of Level 3 Assets
	Long-
	Short			Event						Multi-
	Equity			Driven			Distressed			Strategy
	Fund			Fund			Credit			Fund			Total
	(in thousands)
Balance, December 31, 2010	$	12,864		$	8,444		$	9,447		$	4,341		$	35,096
Realized gains		981			672			306			310			2,269
Unrealized losses		(889	)		(140	)		(219	)		(91	)		(1,339	)
Purchases		7,884			26			7			16			7,933
Sales		(8,019	)		(1,876	)		(3,289	)		(1,046	)		(14,230	)
Balance, December 31, 2011	$	12,821		$	7,126		$	6,252		$	3,530		$	29,729

(1) The transfer of $18.5 million from Level 3 to Level 2 was comprised of certain hedge funds that became redeemable within 90 days from December 31, 2012.

Benefit Obligations in Excess of the Fair Value of Plan Assets

The Company's plans have benefit obligations in excess of the fair value of the plans' assets. The following table provides information relating to each of the plans' benefit obligations compared to the fair value of its assets:

	At December 31, 2012						At December 31, 2011
			Benefit						Benefit
	Pension		Equalization				Pension		Equalization
	Plan		Plan		Total		Plan		Plan		Total
	(in thousands)
Projected benefit obligation	$	101,796	$	3,524	$	105,320	$	96,930	$	3,726	$	100,656
Accumulated benefit obligation	$	101,796	$	3,524	$	105,320	$	96,930	$	3,726	$	100,656
Fair value of plan assets	$	66,137	$	-	$	66,137	$	62,105		-	$	62,105
Projected benefit obligation greater than fair value of plan assets	$	35,659	$	3,524	$	39,183	$	34,825	$	3,726	$	38,551
Accumulated benefit obligation greater than fair value of plan assets	$	35,659	$	3,524	$	39,183	$	34,825	$	3,726	$	38,551

Multiemployer Plans

		Pension Protections Act Zone Status			Company Contributions (amounts in millions)
Pension Fund	EIN/Pension Plan Number	2012	2011	FIP/RP Status Pending Or Implemented	2012	2011	2010	Surcharge Imposed	Expiration Date of Collective Bargaining Agreement
Pension, Hospitalization and Benefit Plan of the	13-6123601/	Green	Green	No	12.9(b)	6.3(a)	-	No	5/8/2013
Electrical Industry -	001
Pension Trust Account
Steamfitters Industry	13-6149680/	Yellow	Yellow	Implemented	3.5(b)	3.5(a)	-	No	6/30/2014
Pension Fund	001
Excavators Union Local	13-1809825/	Green	Green	No	3.3	2.9	2.8	No	6/30/2016
731 Pension Fund	002
Carpenters Pension Trust	94-6050970/	Red	Red	Implemented	2.3	1.4	1.7	No	6/30/2015
Fund for Northern California	001

(a) Amounts pertaining to plans from one of the Company's newly acquired entities during 2011, and as such, there were no contributions made in 2010.

(b) These amounts exceeded 5% of the respective total plan contributions.