Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2012

Amounts included in accumulated other comprehensive loss, net of tax, that have not yet been recognized in net periodic benefit cost are as follows

Amounts included in accumulated other comprehensive loss, net of tax, at December 31, 2012 that have not yet been recognized in net periodic benefit cost are as follows:



	Pension plans		Other postretirement benefits
	(In thousands)
Prior service cost	$	—	$	—
Net actuarial loss	$	14,848	$	—

Amounts included in accumulated other comprehensive loss, net of tax, expected to be recognized in net periodic benefit cost during the following fiscal year

Amounts included in accumulated other comprehensive loss, net of tax, at December 31, 2012 expected to be recognized in net periodic benefit cost during the fiscal year ending December 31, 2013 are as follows:



	Pension plans		Other postretirement benefits
	(In thousands)
Prior service credit	$	—	$	99
Net actuarial loss	$	530	$	7

Pension Plans, Defined Benefit

Defined Benefit Plan Disclosure

Components of net periodic benefit cost

The following table sets forth the components of net periodic pension cost for the years ended December 31, 2012, 2011 and 2010 based on a December 31 measurement date:



	2012			2011			2010
	(In thousands)
Service cost — benefits earned during the year	$	6		$	464		$	1,857
Interest cost on projected benefit obligations	2,205			2,415			2,473
Expected return on plan assets	(3,190		)	(3,767		)	(3,689		)
Amortization of prior service cost	—			196			66
Amortization of net loss	645			1,698			1,660
Curtailment expense (income)	—			984			(36		)
Settlement expense	1,075			—			—
Net periodic pension cost	$	741		$	1,990		$	2,331

Actuarial assumptions used in the determination of the net period pension cost

Actuarial assumptions used in the determination of the net periodic pension cost are:



	2012		2011		2010
Discount rate	4.69	%	5.05	%	5.55	%
Expected long-term return on plan assets	7.00	%	7.75	%	8.00	%
Rate of compensation increase	n/a		5.0	%	5.0	%

Actuarial assumptions used in the determination of the benefit obligation of the above data are:



	2012		2011
Discount rate	3.68	%	4.69	%
Rate of compensation increase	n/a		n/a

Schedule of Changes in Benefit Obligations, Plan Assets and Funded Status

The following table provides a reconciliation of benefit obligations, plan assets and funded status based on a December 31 measurement date:



	2012			2011
	(In thousands)
Change in benefit obligation:
Benefit obligation at beginning of plan year	$	49,009		$	50,416
Service cost	6			464
Interest cost	2,205			2,415
Actuarial loss	3,565			1,021
Benefits paid	(4,085		)	(5,307		)
Projected benefit obligation at measurement date	$	50,700		$	49,009

Change in plan assets:
Fair value of plan assets at beginning of plan year	$	43,852		$	49,537
Actual return on plan assets	5,683			(378		)
Company contributions	1,097			—
Benefits paid	(4,085		)	(5,307		)
Fair value of plan assets at measurement date	$	46,547		$	43,852

Funded status of the plan:
Benefit obligation in excess of plan assets	(4,153		)	(5,157		)
Accrued pension liability	$	(4,153	)	$	(5,157	)

Fair value of the Company's qualified pension plan assets by category

The fair value of the Company's qualified pension plan assets by category at December 31, 2012 are as follows:



	Market value		Quoted prices in active markets for identical assets (Level 1)		Significant observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(In thousands)
Equity securities(a)	$	26,067	$	26,067	$	—	$	—
Fixed income funds(b)	20,022		20,022		—		—
Cash/cash equivalents(c)	458		458		—		—
Total	$	46,547	$	46,547	$	—	$	—

(a)

This category includes investments in equity securities of large, small and medium sized companies, equity securities of foreign companies and equity funds, or 53.3%, 11.6%, 12.8%, 17.2% and 5.1% of total equity securities, respectively. Of the total equity amount, 11.6% was invested in common stocks in a wide variety of industries, 86.5% was invested in mutual funds and 1.9% was invested in exchange traded funds. The funds are valued using the closing market prices at December 31, 2012.


(b)	This category includes investments in investment-grade fixed-income instruments and corporate bonds. The funds are valued using the closing market prices at December 31, 2012.

(c)This category comprises the cash held to pay beneficiaries. The fair value of cash equals its book value.

The fair value of the Company’s qualified pension plan assets by category at December 31, 2011 are as follows:



	Market value		Quoted prices in active markets for identical assets (Level 1)		Significant observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(In thousands)
Equity securities(a)	$	25,844	$	25,844	$	—	$	—
Fixed income funds(b)	17,439		17,439		—		—
Cash/cash equivalents(c)	569		569		—		—
Total	$	43,852	$	43,852	$	—	$	—

(a)

This category includes investments in equity securities of large, small and medium sized companies, equity securities of foreign companies and other, or 54.5%, 15.4%, 12.0%, 14.4% and 3.7% of total assets, respectively. Of the total equity amount, 15.5% was invested in common stocks in a wide variety of industries, 82.8% was invested in mutual funds and 1.7% was invested in exchange traded funds. The funds are valued using the closing market prices at December 31, 2011.


(b)	This category includes investments in investment-grade fixed-income instruments and corporate bonds. The funds are valued using the closing market prices at December 31, 2011.


(c)	This category comprises the cash held to pay beneficiaries. The fair value of cash equals its book value

Other Postretirement Benefit Plans, Defined Benefit

Defined Benefit Plan Disclosure

Components of net periodic benefit cost

The following table sets forth the components of net periodic postretirement benefit cost for the years ended December 31, 2012, 2011 and 2010:



	2012		2011		2010
	(In thousands)
Service cost, benefits attributed for service of active employees for the period	$	143	$	148	$	139
Interest cost on the accumulated postretirement benefit obligation	295		313		337
Amortization of prior service cost	161		161		161
Net periodic postretirement benefit cost	$	599	$	622	$	637

Schedule of Changes in Projected Benefit Obligations

The following table provides a reconciliation of the projected benefit obligation at the Company's December 31 measurement date:



	2012			2011
	(In thousands)
Benefit obligation at beginning of year	$	6,542		$	6,459
Service cost	143			148
Interest cost	295			313
Actuarial (gain) loss	422			(1		)
Plan participants contributions	673			718
Benefits paid	(1,135		)	(1,095		)
Benefit obligation and funded status at end of year	$	6,940		$	6,542

Schedule of Amounts Recognized in Balance Sheet

The amounts recognized in the Consolidated Balance Sheets at December 31 are:



	2012		2011
	(In thousands)
Accrued compensation and employee benefits	$	451	$	439
Accrued non-pension postretirement benefits	6,489		6,103
Amounts recognized at December 31	$	6,940	$	6,542