Pensions and Other Benefits

9 Months Ended

Sep. 30, 2011

Pensions and Other Benefits [Abstract]

Pensions and Other Benefits

3. Pensions and Other Benefits

We sponsor defined benefit pension plans in various countries. The amount of contributions to the plans is based on several factors including the funding rules in each country. Employer contributions of $22.1 million in 2010 included $13.2 million transferred into pension trusts, plus $8.9 million for benefits paid directly to participants. We expect 2011 contributions to be approximately $21.0 million, including $17.3 million to be transferred to pension trusts, plus $3.7 million for benefits paid directly to participants. We also provide certain medical, dental and life insurance benefits ("Other Postretirement Benefits") for retired United States employees that meet program qualifications. We currently fund this plan as claims are paid.

The components of net periodic benefit cost for the nine months ended September 30, 2011 and 2010 are, as follows:

	Pension Plans						Other Postretirement Benefits
(in thousands)		2011			2010			2011			2010
Service cost	$	2,836		$	1,849		$	685		$	669
Interest cost		15,319			15,005			2,864			3,040
Expected return on plan assets		(11,978	)		(11,355	)		-			-
Amortization:
Transition obligation		71			75			-			-
Prior service cost/(credit)		28			12			(2,750	)		(2,711	)
Net actuarial loss		4,292			3,558			2,259			2,176
Settlement/curtailment loss/(gain)		-			478			-			(1,945	)
Net periodic benefit costs	$	10,568		$	9,622		$	3,058		$	1,229

During 2010 a pension plan settlement loss of $0.5 million and a post retirement benefit curtailment gain of $1.9 million were recorded related to restructuring activities.