XML 51 R31.htm IDEA: XBRL DOCUMENT v2.4.0.8
Pension Benefit and Other Postretirement Benefit Plans (Tables)
 6 Months Ended
Jun. 30, 2013
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]  
Change in benefit obligation [Table Text Block]
(Dollars in thousands)
Pension
Benefits
Change in benefit obligation:
June 30, 2013
 
 
Benefit obligation at beginning of year
$
209,844

Service cost
2,210

Interest cost
4,015

Actuarial (gain) loss
1,658

Benefit payments
(3,642
)
Curtailment charge
(22,649
)
Special termination benefit
—

Benefit obligation at end of the period
$
191,436
Change in plan assets [Table Text Block]
(Dollars in thousands)
Pension
Benefits
Change in plan assets:
June 30, 2013
 
 
Fair value of plan assets at the beginning of the year
$
143,540

Actual return on plan assets
10,981

Employer contributions
6,500

Benefit payments
(3,642
)
Settlement charge
—

Fair value of plan assets at the end of the period
157,379

Funded status
$
(34,057
)
Amounts recognized in consolidated balance sheet [Table Text Block]
Amounts recognized in the consolidated balance sheet consist of:
(Dollars in thousands)
Pension
Benefits
 
June 30, 2013
Noncurrent assets
$
—

Current liabilities
(49
)
Noncurrent liabilities
(34,008
)
Net amount recognized at end of period
$
(34,057
)
Schedule of net periodic benefit cost not yet recognized [Table Text Block]
(Dollars in thousands)
Pension
Benefits
 
June 30, 2013
Net actuarial loss
$
58,860

Prior service cost
—

Net amount recognized at end of period
$
58,860
Components of net periodic benefit cost [Table Text Block]
The components of net periodic benefit cost for the periods indicated are:

(Dollars in thousands)
Pension Benefits
 
Retirement Health and Life Insurance Benefits
Three Months Ended
 
Six Months Ended
 
Three Months Ended
 
Six Months Ended
Change in benefit obligation:
June 30, 2013
 
June 30, 2012
 
June 30, 2013
 
June 30, 2012
 
June 30, 2013
 
June 30, 2012
 
June 30, 2013
 
June 30, 2012
Service cost
$
956

 
$
1,108

 
$
2,210

 
$
2,297

 
$
170

 
$
149

 
$
341

 
$
331

Interest cost
1,954

 
2,124

 
4,015

 
4,242

 
71

 
92

 
141

 
180

Expected return on plan assets
(2,731
)
 
(2,495
)
 
(5,447
)
 
(4,903
)
 
—

 
—

 
—

 
—

Amortization of prior service cost
31

 
116

 
124

 
232

 
(58
)
 
(113
)
 
(115
)
 
(226
)
Amortization of net loss
1,049

 
1,442

 
2,525

 
2,791

 
83

 
66

 
165

 
181

Special termination benefit
—

 
—

 
—

 
—

 
—

 
(707
)
 
—

 
1,593

Curtailment charge
1,537

 
—

 
1,537

 
—

 
—

 
—

 
—

 
—

Net periodic benefit cost
$
2,796

 
$
2,295

 
$
4,964

 
$
4,659

 
$
266

 
$
(513
)

$
532

 
$
2,059
Schedule of assumptions used [Table Text Block]
Weighted-average assumptions used to determine benefit obligations:
 
Pension Benefits
 
April 30, 2013
December 31, 2012
 
 
 
Discount rate
4.00
%
4.00
%
Rate of compensation increase
4.00
%
4.00
%
Expected long-term rate of return on plan assets
7.50
%
7.50
%
Weighted-average assumptions used to determine net benefit cost for the period ended:
 
Pension Benefits
 
April 30, 2013
December 31, 2012
 
 
 
Discount rate
4.00
%
4.50
%
Expected long-term rate of return on plan assets
7.50
%
7.75
%
Rate of compensation increase
4.00
%
4.00
%
Schedule of allocation of plan assets [Table Text Block]
The following table presents the fair value of the net assets by asset category:
(Dollars in thousands)
April 30, 2013
 
December 31, 2012
 
 
 
 
Pooled separate accounts
$
33,530

 
$
29,869

Mutual funds
106,619

 
98,269

Guaranteed deposit account
16,592

 
15,402

Total investments at fair value
$
156,741

 
$
143,540

The following tables set forth by level, within the fair value hierarchy, the assets carried at fair value:
 
Assets at Fair Value as of April 30, 2013
(Dollars in thousands)
Level 1
 
Level 2
 
Level 3
 
Total
Pooled separate accounts
$
—

 
$
33,530

 
$
—

 
$
33,530

Mutual funds
106,619

 
—

 
—

 
106,619

Guaranteed deposit account
—

 
—

 
16,592

 
16,592

Total assets at fair value
$
106,619

 
$
33,530

 
$
16,592

 
$
156,741

 
 
 
 
 
 
 
 
 
Assets at Fair Value as of December 31, 2012
(Dollars in thousands)
Level 1
 
Level 2
 
Level 3
 
Total
Pooled separate accounts
$
—

 
$
29,869

 
$
—

 
$
29,869

Mutual funds
98,269

 
—

 
—

 
98,269

Guaranteed deposit account
—

 
—

 
15,402

 
15,402

Total assets at fair value
$
98,269

 
$
29,869

 
$
15,402

 
$
143,540
Changes in fair value of Level 3 assets [Table Text Block]
The table below sets forth a summary of changes in the fair value of the guaranteed deposit account's Level 3 assets for the period ended April 30,2013.
(Dollars in thousands)
Guaranteed Deposit Account
 
 
Balance at December 31, 2012
$
15,402

Realized gains (losses)
—

Unrealized gains relating to instruments still held at the reporting date
1,177

Purchases, sales, issuances and settlements (net)
13

Transfers in and/or out of Level 3
—

Balance at April 30, 2013
$
16,592
Schedule of future benefit payments [Table Text Block]
The following pension benefit payments, which reflect expected future employee service, as appropriate, are expected to be paid through the utilization of plan assets for the funded plans and from operating cash flows for the unfunded plans. The benefit payments are based on the same assumptions used to measure our benefit obligation at April 30, 2013.
 
Pension Benefits
 
 
2014
$
8,441

2015
8,029

2016
8,209

2017
8,303

2018
8,595

2019-2023
48,629