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Retirement Benefits
6 Months Ended
Jun. 30, 2011
Retirement Benefits  
Retirement Benefits

15.

Retirement Benefits

The Company sponsors several qualified and nonqualified defined benefit and defined contribution pension plans and other postretirement plans for its employees. The following tables provide the components of net periodic benefit cost for its major defined benefit plans and its other postretirement plans.

 

 

 

Pension Benefits

 

 

 

Three Months Ended June 30,

 

 

 

2011

 

 

2010

 

 

 

U.S.

 

 

Non-U.S.

 

 

U.S.

 

 

Non-U.S.

 

 

 

(In thousands)

 

Service cost

 

$

460

 

 

$

211

 

 

$

469

 

 

$

173

 

Interest cost

 

 

1,132

 

 

 

595

 

 

 

1,139

 

 

 

519

 

Expected return on plan assets

 

 

(1,198

 

 

(282

 

 

(1,108

 

 

(80

Net amortization

 

 

1,081

 

 

 

113

 

 

 

1,127

 

 

 

72

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net periodic benefit cost

 

$

1,475

 

 

$

637

 

 

$

1,627

 

 

$

684

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension Benefits

 

 

 

Six Months Ended June 30,

 

 

 

2011

 

 

2010

 

 

 

U.S.

 

 

Non-U.S.

 

 

U.S.

 

 

Non-U.S.

 

 

 

(In thousands)

 

Service cost

 

$

920

 

 

$

413

 

 

$

938

 

 

$

357

 

Interest cost

 

 

2,264

 

 

 

1,169

 

 

 

2,279

 

 

 

1,071

 

Expected return on plan assets

 

 

(2,396

 

 

(559

 

 

(2,216

 

 

(163

Net amortization

 

 

2,162

 

 

 

223

 

 

 

2,254

 

 

 

148

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net periodic benefit cost

 

$

2,950

 

 

$

1,246

 

 

$

3,255

 

 

$

1,413

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Postretirement Benefits

 

 

 

Three Months Ended
June  30,

 

 

Six Months Ended
June 30,

 

 

 

2011

 

 

2010

 

 

2011

 

 

2010

 

 

 

(In thousands)

 

Service cost

 

$

173

 

 

$

130

 

 

$

346

 

 

$

260

 

Interest cost

 

 

260

 

 

 

260

 

 

 

519

 

 

 

519

 

Net amortization

 

 

(39

 

 

(76

 

 

(78

 

 

(175

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net periodic benefit cost

 

$

394

 

 

$

314

 

 

$

787

 

 

$

604

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company previously disclosed in its financial statements for the year ended December 31, 2010, that it expected to contribute approximately $7.9 million to its pension plans and $1.0 million to its other postretirement benefit plans in 2011. As of June 30, 2011, $4.8 million of contributions have been made to its pension plans and $0.4 million have been made to its other postretirement benefit plans. The Company presently anticipates contributing up to an additional $3.7 million in 2011 to fund its pension plans and other postretirement benefit plans.