EMPLOYEE RETIREMENT PLANS

3 Months Ended

Mar. 31, 2012

EMPLOYEE RETIREMENT PLANS

EMPLOYEE RETIREMENT PLANS

11. EMPLOYEE RETIREMENT PLANS

        The following table provides the components of the net periodic benefit cost for all of our pension plans:

	Three Months Ended March 31,
(In thousands)	2012			2011
Components of net periodic benefit cost:
Interest cost	$	1,806		$	1,877
Expected return on assets		(2,171	)		(2,389	)
Amortization of:
Prior service cost		1			1
Actuarial loss recognized due to settlement		—			591
Actuarial loss		421			247
Total net periodic benefit cost	$	57		$	327

        Our major assumptions used to determine the net periodic benefit cost for our U.S. pension plans are presented as follows:

	Three Months Ended March 31,
	2012			2011
Discount rate		5.00	%		5.55	%
Expected return on assets		8.25	%		8.50	%

        In connection with the closure of our Sarnia, Ontario PVC resin manufacturing facility in December 2008, we decided to wind up the Canadian pension plan. All future benefit obligations for this pension plan were fully funded in 2011 with a contribution in the amount of approximately $0.8 million with a corresponding restructuring charge recognized in the three months ended March 31, 2011.

        For the three months ended March 31, 2012, we made no contributions to the U.S. pension plan trust. We made contributions in the form of direct benefit payments for the U.S. pension plans in each of the three month periods ended March 31, 2012 and 2011 of approximately $0.4 million.