PENSION AND POST RETIREMENT BENEFIT PLANS

9 Months Ended

Sep. 30, 2012

PENSION AND POST RETIREMENT BENEFIT PLANS

PENSION AND POST RETIREMENT BENEFIT PLANS

NOTE 7.PENSION AND POST RETIREMENT BENEFIT PLANS

The following table represents the net periodic pension benefit costs and related components in accordance with FASB ASC 715 “Compensation - Retirement Benefits”:

Components of Net Pension Benefit Gain

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands)	2012			2011			2012			2011
Interest and service cost	$	2,337		$	2,520		$	7,011		$	7,038
Expected return on plan assets	(2,961		)	(3,016		)	(8,883		)	(8,367		)
Amortization of net loss	632			450			1,896			834
Net periodic benefit gain/(loss)	$	8		$	(46	)	$	24		$	(495	)

During the nine months ended September 30, 2012 and 2011, the Company made contributions of $2.3 million and $4.8 million, respectively, to its defined benefit retirement plans (the “Plans”).  The Company made $4.9 million in contributions for the year ended December 31, 2011 and is considering making further contributions to the Plans of approximately $2.7 million during the fiscal year ending December 31, 2012.