PENSION AND POST RETIREMENT BENEFIT PLANS

9 Months Ended

Sep. 30, 2015

Pension and Other Postretirement Benefit Expense [Abstract]

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)	2015			2014			2015			2014
Interest and service cost	$	2,250		$	2,375		$	6,750		$	7,125
Expected return on plan assets		(3,197	)		(3,108	)		(9,591	)		(9,324	)
Amortization of net loss		940			610			2,820			1,830
Net periodic benefit	$	(7	)	$	(123	)	$	(21	)	$	(369	)

During the nine months ended September 30, 2015 and 2014 the Company made $5.0 million and $3.3 million in contributions, respectively, to its defined benefit retirement plans (the “Plans”). The Company made $5.3 million in contributions for the year ended December 31, 2014. The Company is not planning on making further contributions to the Plans during the fiscal year ending December 31, 2015.