XML 54 R24.htm IDEA: XBRL DOCUMENT v2.4.0.6
Employee Benefit Plans
 6 Months Ended
Jun. 30, 2012
Compensation and Retirement Disclosure [Abstract]  
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS

Components of net periodic benefit cost were as follows:
 
Three months ended June 30,
 
Six months ended June 30,
 
2012
 
2011
 
2012
 
2011
 
(In thousands)
Pension Benefits
 
 
 
 
 
 
 
Company-administered plans:
 
 
 
 
 
 
 
Service cost
$
3,826

 
3,616

 
$
7,733

 
7,383

Interest cost
23,563

 
24,384

 
47,252

 
48,874

Expected return on plan assets
(24,055
)
 
(25,177
)
 
(48,112
)
 
(51,036
)
Amortization of:
 
 
 
 
 
 
 
Transition obligation
—

 
(7
)
 
—

 
(15
)
Net actuarial loss
7,726

 
5,002

 
15,587

 
10,131

Prior service credit
(567
)
 
(572
)
 
(1,136
)
 
(1,142
)
 
10,493

 
7,246

 
21,324

 
14,195

Union-administered plans
1,630

 
1,455

 
3,244

 
2,796

Net periodic benefit cost
$
12,123

 
8,701

 
$
24,568

 
16,991

 
 
 
 
 
 
 
 
Company-administered plans:
 
 
 
 
 
 
 
U.S.
$
9,643

 
7,387

 
$
19,491

 
14,487

Non-U.S.
850

 
(141
)
 
1,833

 
(292
)
 
10,493

 
7,246

 
21,324

 
14,195

Union-administered plans
1,630

 
1,455

 
3,244

 
2,796

 
$
12,123

 
8,701

 
$
24,568

 
16,991

 
 
 
 
 
 
 
 
Postretirement Benefits
 
 
 
 
 
 
 
Company-administered plans:
 
 
 
 
 
 
 
  Service cost
$
227

 
303

 
$
547

 
650

  Interest cost
475

 
585

 
989

 
1,254

  Amortization of:
 
 
 
 
 
 
 
      Net actuarial (gain) loss
(7
)
 
31

 
(10
)
 
137

      Prior service credit
(57
)
 
(57
)
 
(115
)
 
(115
)
Net periodic benefit cost
$
638

 
862

 
$
1,411

 
1,926

 
 
 
 
 
 
 
 
Company-administered plans:
 
 
 
 
 
 
 
   U.S.
$
519

 
694

 
$
1,071

 
1,577

   Non-U.S.
119

 
168

 
340

 
349

 
$
638

 
862

 
$
1,411

 
1,926



Pension Contributions

During the six months ended June 30, 2012, we contributed $39.9 million to our pension plans. During the second half of 2012, we expect to contribute approximately $41 million to our pension plans.

Savings Plans

Employees who do not actively participate in pension plans and are not covered by union-administered plans are generally eligible to participate in enhanced savings plans. Plans provide for (i) a company contribution even if employees do not make contributions, (ii) a company match of employee contributions of eligible pay, subject to tax limits and (iii) a discretionary company match. During the three months ended June 30, 2012 and 2011, we recognized total savings plan costs of $7.7 million and $12.3 million, respectively. During the six months ended June 30, 2012 and 2011, we recognized total savings plan costs of $16.1 million and $20.5 million, respectively.