Components of Net Periodic Benefit Cost

6 Months Ended

Jun. 30, 2011

Notes to Financial Statements [Abstract]

	Pension Benefits
	Three months ended June 30,						Six months ended June 30,
	2011			2010			2011			2010
Service cost	$	709		$	749		$	1,566		$	1,489
Interest cost		1,808			1,611			3,488			3,204
Expected return on plan assets		(1,776	)		(1,465	)		(3,315	)		(2,688	)
Amortization of prior service cost		34			34			69			69
Amortization of net loss		449			407			931			830
Net periodic benefit cost	$	1,224		$	1,336		$	2,739		$	2,904

	Other Postretirement Benefits
	Three months ended June 30,						Six months ended June 30,
	2011			2010			2011			2010
Service cost	$	475		$	738		$	834		$	1,760
Interest cost		1,478			2,747			2,864			5,497
Expected return on plan assets		—			—			—			—
Amortization of prior service cost (1)		(15,534	)		(300	)		(30,689	)		(560	)
Amortization of net loss		6,546			844			12,349			1,602
Net periodic benefit cost	$	(7,035	)	$	4,029		$	(14,642	)	$	8,299

(1)

OPEB plan amendments in November 2010 resulted in the immediate recognition of any unamortized prior service cost benefits that were accrued in accumulated other comprehensive loss as of the date of the amendments. In addition, the November 2010 plan amendments resulted in a reduction in OPEB liability and a credit to accumulated other comprehensive loss. The resulting prior service benefit and actuarial losses were amortized ratably into income over the period November 1, 2010 to June 30, 2011 at which time the CAWV OPEB plan terminated.

Employer contributions

In June 2011, the election of three directors designated for nomination to our Board of Directors by Glencore triggered a “change of control” under the terms of our non-qualified Supplemental Retirement Income Benefit Plan (“SERB”) plan. As a result of the change in control, we were required to make an approximately $16,700 contribution to a Rabbi trust to fully fund the non-qualified SERB benefit obligation. In addition, through June 30, 2011, we have made contributions of approximately $14,400 to the qualified defined benefit plans we sponsor. Based on current actuarial and other assumptions, we expect to make additional contributions to these qualified defined benefit plans of approximately $3,400 during 2011 for a total of approximately $34,500 in qualified defined benefit plan and non-qualified SERB contributions during the year.