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Retirement Plan Benefits (Tables)
12 Months Ended
Dec. 31, 2012
Compensation and Retirement Disclosure [Abstract]  
Components of Change in Benefit Obligation of Pension Plans
The components of the change in benefit obligation of the Pension Plan is as follows (table in thousands):
 
 
December  31,
2012
 
December  31,
2011
Benefit obligation, at beginning of year
 
$
482,609

 
$
427,213

Interest cost
 
21,440

 
22,663

Benefits paid
 
(16,598
)
 
(15,493
)
Actuarial loss
 
51,815

 
48,226

Benefit obligation, at end of year
 
$
539,266

 
$
482,609

Reconciliation of Beginning and Ending Balances of Fair Value of Assets of Pension Plans
The reconciliation of the beginning and ending balances of the fair value of the assets of the Pension Plan is as follows (table in thousands):
 
 
December  31,
2012
 
December  31,
2011
Fair value of plan assets, at beginning of year
 
$
395,859

 
$
379,617

Actual return on plan assets
 
51,442

 
31,735

Benefits paid
 
(16,598
)
 
(15,493
)
Fair value of plan assets, at end of year
 
$
430,703

 
$
395,859

Components of Net Periodic Expense of Pension Plans
The components of net periodic expense (benefit) of the Pension Plan are as follows (table in thousands):
 
 
2012
 
2011
 
2010
Interest cost
 
$
21,440

 
$
22,663

 
$
22,685

Expected return on plan assets
 
(26,000
)
 
(25,008
)
 
(23,304
)
Recognized actuarial loss
 
12,847

 
11,174

 
12,616

Net periodic expense (benefit)
 
$
8,287

 
$
8,829

 
$
11,997

Weighted Average Assumptions Used in Pension Plans to Determine Benefit Obligations
The weighted-average assumptions used in the Pension Plan to determine periodic benefit cost for the years ended December 31 are as follows:
 
 
December  31,
2012
 
December  31,
2011
 
December  31,
2010
Discount rate
 
4.6
%
 
5.4
%
 
6.0
%
Expected long-term rate of return on plan assets
 
6.75
%
 
6.75
%
 
6.75
%
Rate of compensation increase
 
N/A

 
N/A

 
N/A

The weighted-average assumptions used in the Pension Plan to determine benefit obligations at December 31 are as follows:
 
 
December  31,
2012
 
December  31,
2011
 
December  31,
2010
Discount rate
 
3.7
%
 
4.6
%
 
5.4
%
Rate of compensation increase
 
N/A

 
N/A

 
N/A

Weighted Average Assumptions Used in Pension Plans to Determine Periodic Benefit Cost
The benefit payments are expected to be paid in the following years (table in thousands):
2013
$
21,610

2014
22,703

2015
24,005

2016
25,546

2017
27,139

2018-2021
155,275

Pension Plan Assets at Fair Value
The following table sets forth, by level within the fair value hierarchy, the Pension Plan’s assets at fair value as of December 31, 2012 and 2011 (tables in thousands):
 
 
December 31, 2012
 
 
Level 1
 
Level 2
 
Level 3
 
Total
Common collective trusts
 
$

 
$
308,233

 
$

 
$
308,233

Mutual funds
 

 

 

 

U.S. treasury securities
 
2,275

 

 

 
2,275

Corporate debt securities
 

 
120,022

 

 
120,022

Total
 
$
2,275

 
$
428,255

 
$

 
430,530

Plan payables, net of accrued interest and dividends
 
 
 
 
 
 
 
173

Total
 
 
 
 
 
 
 
$
430,703

 
 
December 31, 2011
Level 1
 
Level 2
 
Level 3
 
Total
Common collective trusts
 
$

 
$
284,250

 
$

 
$
284,250

Mutual funds
 

 
2,666

 

 
2,666

U.S. treasury securities
 
2,979

 

 

 
2,979

Corporate debt securities
 

 
105,082

 

 
105,082

Total
 
$
2,979

 
$
391,998

 
$

 
394,977

Plan payables, net of accrued interest and dividends
 
 
 
 
 
 
 
882

Total
 
 
 
 
 
 
 
$
395,859

Pension Plan Investments at Fair Value Represented 5% or More of Pension Plan Net Assets
Pension Plan investments at fair value as of December 31, 2012 and 2011 which represented 5% or more of the Pension Plan’s net assets were as follows:
 
 
2012
 
2011
EB Daily Valued Small Cap Stock Index Fund
 
25,842

 
23,038

EB Daily Valued Stock Index Fund
 
85,834

 
82,060

EB Daily Valued International Stock Index Fund
 
25,850

 
21,938

EB Long Term Government Bond Index
 
45,732

 
44,058

EB Long Term Credit Bond Index
 
67,902

 
60,111

Corporate Debt Securities
 
124,519

 
105,082

 
 
$
375,679

 
$
336,287

Weighted Average Target Asset Allocations
The long-term weighted average target asset allocations are as follows:
 
December 31, 2012
U.S. large capitalization equities
17
%
U.S. small capitalization equities
4

International equities
4

U.S. long-duration fixed income
75

High yield fixed income

Total
100
%
Actual Allocation of the Assets in the Pension Plans
The actual allocation of the assets in the Pension Plan at December 31, 2012 and 2011were as follows:
 
 
December  31,
2012
 
December  31,
2011
U.S. large capitalization equities
 
28
%
 
29
%
U.S. small capitalization equities
 
6

 
6

International equities
 
8

 
7

U.S. long-duration fixed income
 
55

 
55

High yield fixed income
 
3

 
3

Total
 
100
%
 
100
%