Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2012

Changes in Benefit Obligations and Plan Assets as Well as Funded Status of Retirement Plans

The changes in benefit obligations and plan assets as well as the funded status of our retirement plans at December 31 are as follows:

	Pension Benefits						Other Postretirement Benefits
	2012			2011			2012			2011
	(Dollars in thousands)
Change in benefit obligation
Obligation at beginning of year	$	609,738		$	541,443		$	51,131		$	54,452
Service cost		14,788			13,857			830			862
Interest cost		27,363			28,519			2,051			2,441
Actuarial losses (gains)		49,067			52,417			(1,299	)		(703	)
Plan amendments		(1,269	)		(144	)		(504	)		(408	)
Benefits paid		(28,301	)		(24,973	)		(3,904	)		(4,436	)
Curtailment gain		—			(449	)		—			(1,909	)
Participants’ contributions		—			—			872			832
Foreign currency exchange rate changes		986			(932	)		—			—
Obligation at end of year		672,372			609,738			49,177			51,131
Change in plan assets
Fair value of plan assets at beginning of year		509,877			494,181			—			—
Actual return on plan assets		74,774			39,782			—			—
Employer contributions		76,911			887			3,032			3,604
Participants’ contributions		—			—			872			832
Benefits paid		(28,301	)		(24,973	)		(3,904	)		(4,436	)
Fair value of plan assets at end of year		633,261			509,877			—			—
Funded status	$	(39,111	)	$	(99,861	)	$	(49,177	)	$	(51,131	)

	Pension Benefits						Other Postretirement Benefits
	2012			2011			2012			2011
	(Dollars in thousands)
Amounts recognized in the consolidated balance sheets
Non-current assets	$	25,548		$	—		$	—		$	—
Current liabilities		(1,061	)		(916	)		(3,941	)		(4,311	)
Non-current liabilities		(63,598	)		(98,945	)		(45,236	)		(46,820	)
Net amount recognized	$	(39,111	)	$	(99,861	)	$	(49,177	)	$	(51,131	)
Amounts recognized in accumulated other comprehensive (loss) income
Net actuarial loss	$	175,763		$	166,722		$	4,994		$	6,304
Prior service cost (credit)		3,843			6,203			(15,576	)		(17,688	)
Net amount recognized	$	179,606		$	172,925		$	(10,582	)	$	(11,384	)

Items to be Recognized in 2013 as Component of Net Periodic Cost

	Pension Benefits		Other Postretirement Benefits
	(Dollars in thousands)
Items to be recognized in 2013 as a component of net periodic cost
Net actuarial loss	$	11,826	$	216
Prior service cost (credit)		1,698		(2,677	)
Net periodic cost (credit) to be recorded in 2013	$	13,524	$	(2,461	)

Benefits Expected to Be Paid from Pension and Other Postretirement Benefit Plans, Which Reflect Future Years of Services and Medicare Subsidy Expected to Be Received

The benefits expected to be paid from our pension and other postretirement benefit plans, which reflect future years of services and the Medicare subsidy expected to be received, are as follows (dollars in thousands):

	Pension Benefits		Other Postretirement Benefits
2013	$	28,818	$	3,942
2014		30,254		3,930
2015		31,673		3,669
2016		33,172		3,516
2017		34,763		3,547
2018 — 2022		194,789		16,023
	$	353,469	$	34,627

Components of Net Periodic Benefit Cost

The components of the net periodic benefit cost for each of the years ended December 31 are as follows:

	Pension Benefits									Other Postretirement Benefits
	2012			2011			2010			2012			2011			2010
	(Dollars in thousands)
Service cost	$	14,788		$	13,857		$	13,428		$	830		$	862		$	918
Interest cost		27,363			28,519			28,200			2,051			2,441			2,782
Expected return on plan assets		(46,967	)		(40,817	)		(35,524	)		—			—			—
Amortization of prior service cost (credit)		1,797			2,042			2,065			(2,616	)		(2,582	)		(2,567	)
Amortization of actuarial losses		12,168			8,171			8,400			12			134			287
Net curtailment gain		(706	)		(449	)		—			—			—			—
Net periodic benefit cost	$	8,443		$	11,323		$	16,569		$	277		$	855		$	1,420

Effect of a One Percentage Point Change in Assumed Health Care Cost Trend Rates

A one percentage point change in the assumed health care cost trend rates would have the following effects:

	1-Percentage Point Increase		1-Percentage Point Decrease
	(Dollars in thousands)
Effect on service and interest cost	$	109	$	(95	)
Effect on postretirement benefit obligation		1,485		(1,323	)

Multiemployer Pension Plans

Further information on these multiemployer plans for the years ended December 31, 2012, 2011 and 2010 is as follows:

Pension Fund	EIN/Pension Plan Number		Pension Protection Act Zone Status				FIP / RP Status Pending / Implemented		Contributions						Surcharge Imposed		Expiration Dates of Collective Bargaining Agreements
			2012		2011				2012		2011		2010
									(Dollars in thousands)
Central States, Southeast & Southwest Areas Pension Fund		36-6044243/001		Red		Red		Implemented	$	1,834	$	1,724	$	1,848		No		4/30/2013, 12/31/2013, 8/31/2014
United Food & Commercial Workers — Local 1 Pension Fund		16-6144007/001		Red		Red		Implemented		120		107		102		No		12/31/2014
All Other										4,444		4,196		4,175
Total Contributions									$	6,398	$	6,027	$	6,125

Weighted Average Asset Allocation for Pension Plans and Target Allocation

The weighted average asset allocation for our pension plans at December 31, 2012 and 2011 and target allocation for 2012 was as follows:

	Target Allocation		Actual Allocation
			2012		2011
Equity securities—U.S.		49%		48%		47%
Equity securities—International		9%		9%		10%
Debt securities		42%		42%		42%
Cash and cash equivalents		0%		1%		1%
		100%		100%		100%

Fair Value of Plan Assets by Asset Category

The fair value of our plan assets by asset category consisted of the following at December 31:

	2012		2011
	(Dollars in thousands)
Equity securities—U.S.	$	302,169	$	239,076
Equity securities—International		62,770		50,599
Debt securities		264,158		216,156
Cash and cash equivalents		4,164		4,046
	$	633,261	$	509,877

Benefit Obligation

Weighted Average Actuarial Assumptions

Our principal domestic pension and other postretirement benefit plans used the following weighted average actuarial assumptions to determine the benefit obligations at December 31:

	2012			2011
Discount rate		4.1	%		4.6	%
Expected return on plan assets		8.5	%		8.5	%
Rate of compensation increase		3.1	%		3.1	%
Health care cost trend rate:
Assumed for next year		7.2	%		7.8	%
Ultimate rate		4.5	%		5.0	%
Year that the ultimate rate is reached		2046			2045

Benefit Costs

Weighted Average Actuarial Assumptions

Our principal domestic pension and other postretirement benefit plans used the following weighted average actuarial assumptions to determine net periodic benefit cost for the years ended December 31:

	2012			2011			2010
Discount rate		4.6	%		5.4	%		5.9	%
Expected return on plan assets		8.5	%		8.5	%		8.5	%
Rate of compensation increase		3.1	%		3.2	%		3.4	%
Health care cost trend rate		7.8	%		8.0	%		8.0	%