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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2011
Compensation and Retirement Disclosure [Abstract]  
Schedule of Net Benefit Costs
The following table sets forth the components of net periodic pension expense (benefit) for the years ended December 31, 2011, 2010 and 2009.
 
 
Year Ended December 31,
 
2011
 
2010
 
2009
Interest cost
$
2,409

 
$
2,447

 
$
2,397

Expected return on plan assets
(2,575
)
 
(2,353
)
 
(1,827
)
Amortization of net loss
365

 
269

 
678

Total pension expense (benefit)
$
199

 
$
363

 
$
1,248

Schedule of Changes in Projected Benefit Obligation and Plan Assets, Funded Status and Amounts Recognized on the Balance Sheet
The following table sets forth changes in the projected benefit obligation and plan assets, the funded status of the plans and the amounts recognized in the consolidated balance sheet:
 
 
December 31, 2011
 
December 31, 2010
Change in projected benefit obligation:
 
 
 
January 1 projected benefit obligation
$
44,693

 
$
41,627

Interest cost
2,409

 
2,447

Benefits paid
(1,641
)
 
(1,568
)
Actuarial losses
4,464

 
2,187

December 31 projected benefit obligation
$
49,925

 
$
44,693

Change in plan assets:
 
 
 
Fair value at January 1
$
33,210

 
$
30,981

Actual return
(473
)
 
3,261

Employer contributions
2,924

 
536

Benefits paid
(1,641
)
 
(1,568
)
Fair value at December 31
$
34,020

 
$
33,210

The funded status of the pension plans was as follows:
 
 
 
Funded status (plan assets less than projected benefit obligations)
$
(15,905
)
 
$
(11,483
)
Unrecognized actuarial loss
15,355

 
8,208

Net amount recognized
$
(550
)
 
$
(3,275
)
Schedule of Assumptions Used
The actuarial assumptions used in determining the funded status information and subsequent net periodic pension cost are as follows: 
 
Year Ended December 31,
 
2011
 
2010
 
2009
Discount rate
4.50
%
 
5.50
%
 
6.00
%
Expected long-term weighted average rate of return on plan assets
7.75
%
 
7.75
%
 
7.75
%
Schedule of Allocation of Plan Assets
The Company’s pension plan weighted-average actual (which is periodically rebalanced) and target asset allocations by asset category at December 31 are as follows: 
 
 
 
Actual
 
Target
 
2011
 
2010
Equity
55
%
 
56
%
 
57
%
Fixed income funds
43
%
 
44
%
 
41
%
Cash and cash equivalents
2
%
 
%
 
2
%
Total
100
%
 
100
%
 
100
%
Schedule of Changes in Fair Value of Plan Assets
The fair values of the Company’s pension plan assets utilizing the fair value hierarchy are as follows:
 
December 31, 2011
 
Total
 
Level 1
 
Level 2
 
Level 3
Assets:
 
 
 
 
 
 
 
Pooled separate accounts - Equity
$
19,109

 
$

 
$
19,109

 
$

Pooled separate accounts - Fixed income funds
14,909

 

 
12,654

 

Pooled separate accounts - Cash and cash equivalents
2

 

 
2,257

 

Total
$
34,020

 
$

 
$
34,020

 
$

Schedule of Expected Benefit Payments
Based upon current actuarial estimates, the Company expects to contribute $2,172 to its defined benefit pension plan in 2012 and expects the following benefit payments to be paid by the plan: 
 
 
2012
$
1,796

2013
1,869

2014
1,977

2015
2,068

2016
2,223

In aggregate during five years thereafter
13,508

 
$
23,441