|
Employee Benefit Plans (Tables)
|
9 Months Ended |
12 Months Ended |
|
Sep. 30, 2012
|
Dec. 31, 2011
|
| Pension Plan |
|
|
| Schedule of change in benefit obligation |
|
|
|
|
|
|
|
|
|
|
|
Change in Benefit Obligation
(in thousands) |
|
2011 |
|
2010 |
|
|
Benefit obligations at beginning of Period |
|
$ |
20,489 |
|
$ |
18,608 |
|
|
Interest cost |
|
|
1,095 |
|
|
1,088 |
|
|
Actuarial loss |
|
|
2,995 |
|
|
1,560 |
|
|
Benefits paid |
|
|
(733 |
) |
|
(767 |
) |
| |
|
|
|
|
|
|
Benefit obligation at end of period |
|
$ |
23,846 |
|
$ |
20,489 |
|
| |
|
|
|
|
|
| |
|
| Schedule of change in plan assets |
|
|
|
|
|
|
|
|
|
|
|
Change in Plan Assets
(in thousands) |
|
2011 |
|
2010 |
|
|
Fair value of plan assets at beginning of year |
|
$ |
14,059 |
|
$ |
12,202 |
|
|
Actual gain (loss) on plan assets |
|
|
(260 |
) |
|
1,759 |
|
|
Benefits paid |
|
|
(733 |
) |
|
(767 |
) |
|
Employer contribution |
|
|
975 |
|
|
865 |
|
| |
|
|
|
|
|
|
Fair value of plan assets at end of year |
|
$ |
14,041 |
|
$ |
14,059 |
|
| |
|
|
|
|
|
| |
|
| Schedule of funded status |
|
|
|
|
|
|
|
|
|
|
|
Funded Status
(in thousands) |
|
2011 |
|
2010 |
|
|
Funded status |
|
$ |
(9,805 |
) |
$ |
(6,430 |
) |
|
Unrecognized net actuarial loss/Accumulated other comprehensive loss |
|
|
11,365 |
|
|
7,230 |
|
| |
|
|
|
|
|
|
Net amount recognized |
|
$ |
1,560 |
|
$ |
800 |
|
| |
|
|
|
|
|
| |
|
| Summary of our pension plan projected benefit obligation, accumulated obligation and fair value of pension plan assets |
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
2011 |
|
2010 |
|
|
Projected benefit obligation |
|
$ |
23,846 |
|
$ |
20,489 |
|
|
Accumulated benefit obligation ("ABO") |
|
|
23,846 |
|
|
20,489 |
|
|
Fair value of plan assets |
|
|
14,041 |
|
|
14,059 |
|
|
ABO less fair value of plan assets |
|
|
9,805 |
|
|
6,430 |
|
| |
|
| Schedule of amounts recognized in consolidated balance sheets |
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
2011 |
|
2010 |
|
|
Current Liabilities |
|
$ |
1,595 |
|
$ |
975 |
|
|
Noncurrent Liabilities |
|
|
8,210 |
|
|
5,455 |
|
| |
|
|
|
|
|
|
Total Amount Recognized |
|
$ |
9,805 |
|
$ |
6,430 |
|
| |
|
|
|
|
|
| |
|
| Schedule of components of net periodic pension costs (benefit) |
|
|
|
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
|
|
(in thousands) |
|
2012 |
|
2011 |
|
2012 |
|
2011 |
|
|
Interest cost |
|
$ |
269 |
|
$ |
274 |
|
$ |
808 |
|
$ |
821 |
|
|
Expected return on plan assets |
|
(320 |
) |
(308 |
) |
(959 |
) |
(925 |
) |
|
Recognized net actuarial loss |
|
172 |
|
88 |
|
514 |
|
265 |
|
|
Net periodic cost |
|
$ |
121 |
|
$ |
54 |
|
$ |
363 |
|
$ |
161 |
| | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
(in thousands) |
|
2011 |
|
2010 |
|
2009 |
|
|
Interest cost |
|
$ |
1,095 |
|
$ |
1,088 |
|
$ |
1,065 |
|
|
Expected return on plan assets |
|
|
(1,234 |
) |
|
(1,218 |
) |
|
(1,213 |
) |
|
Recognized net actuarial loss |
|
|
353 |
|
|
154 |
|
|
12 |
|
| |
|
|
|
|
|
|
|
|
Net periodic benefit cost (benefit) |
|
$ |
214 |
|
$ |
24 |
|
$ |
(136 |
) |
| |
|
|
|
|
|
|
|
| |
|
| Change in Accumulated Other Comprehensive Loss |
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended
December 31, |
|
|
(in thousands) |
|
2011 |
|
2010 |
|
|
Beginning of year |
|
$ |
(7,230 |
) |
$ |
(6,365 |
) |
|
Net Actuarial losses |
|
|
(4,488 |
) |
|
(1,019 |
) |
|
Amortization of net gains |
|
|
353 |
|
|
154 |
|
| |
|
|
|
|
|
|
|
|
$ |
(11,365 |
) |
$ |
(7,230 |
) |
| |
|
|
|
|
|
| |
|
| Target pension plan asset allocation and actual pension plan allocation of assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset Category |
|
Target
Allocation |
|
2011 |
|
2010 |
|
|
Equity securities |
|
|
70 |
% |
|
73 |
% |
|
77 |
% |
|
Debt securities and cash |
|
|
30 |
|
|
27 |
|
|
23 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
100 |
% |
|
100 |
% |
|
100 |
% |
| |
|
|
|
|
|
|
|
| |
|
| Plan assets using the fair value hierarchy |
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended
December 31, |
|
|
(in thousands) |
|
2011 |
|
2010 |
|
|
Level 1 |
|
|
|
|
|
|
|
|
Equity Securities |
|
$ |
10,205 |
|
$ |
10,769 |
|
|
Debt Securities and Cash |
|
|
3,836 |
|
|
3,290 |
|
|
Level 2 |
|
|
— |
|
|
— |
|
|
Level 3 |
|
|
— |
|
|
— |
|
| |
|
|
|
|
|
|
|
|
$ |
14,041 |
|
$ |
14,059 |
|
| |
|
|
|
|
|
| |
|
| Schedule of estimated future benefit payments |
|
|
|
|
|
|
|
|
(in thousands) |
|
|
|
|
2012 |
|
$ |
840 |
|
|
2013 |
|
|
860 |
|
|
2014 |
|
|
914 |
|
|
2015 |
|
|
954 |
|
|
2016 |
|
|
1,007 |
|
|
2017 to 2021 |
|
|
5,897 |
|
| |
|
| Schedule of weighted-average assumptions used for pension plan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2011 |
|
2010 |
|
2009 |
|
|
Weighted-average actuarial assumptions used to determine benefit obligations: |
|
|
|
|
|
|
|
|
|
|
|
Discount rate |
|
|
4.67 |
% |
|
5.42 |
% |
|
5.92 |
% |
|
Expected return on assets |
|
|
8.00 |
% |
|
8.00 |
% |
|
8.00 |
% |
|
Weighted-average assumptions used to determine net periodic benefit cost (benefit): |
|
|
|
|
|
|
|
|
|
|
|
Discount rate |
|
|
5.42 |
% |
|
5.92 |
% |
|
6.10 |
% |
|
Expected return on assets |
|
|
8.00 |
% |
|
8.00 |
% |
|
8.00 |
% |
|
Rate of compensation increase |
|
|
N/A |
|
|
N/A |
|
|
N/A |
|
| |
|