Quarterly report pursuant to Section 13 or 15(d)

Employee Retirement Plans

v2.4.0.8
Employee Retirement Plans
 9 Months Ended
Sep. 30, 2014
Employee Retirement Plans  
Employee Retirement Plans

8.Employee Retirement Plans

 

The components of net periodic pension cost consist of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Nine Months Ended

 

 

September 30,

 

September 30,

 

September 30,

 

September 30,

 

 

2014

 

2013

 

2014

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

Component of net periodic pension cost:

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$
54 

 

$
62 

 

$
162 

 

$
185 

Interest cost

 

 
374 

 

 
362 

 

 
1,122 

 

 
1,087 

Expected return on plan assets

 

 
(408)

 

 
(352)

 

 
(1,224)

 

 
(1,057)

Amortization of net loss

 

 
51 

 

 
302 

 

 
153 

 

 
905 

Net periodic pension cost

 

$
71 

 

$
374 

 

$
213 

 

$
1,120 

 

 

The Company estimates its total required minimum contributions to its pension plans in 2014 will be $1,182.  Through September  30, 2014, the Company has made $1,108 of cash contributions to the pension plans versus $584 through the same period in 2013.

 

Components of net periodic other postretirement benefit cost (gain) consist of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

September 30,

 

September 30,

 

September 30,

 

September 30,

 

 

2014

 

2013

 

2014

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

Component of periodic other postretirement benefit cost (gain):

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$
40 

 

$
63 

 

$
119 

 

$
188 

Interest cost

 

 
53 

 

 
61 

 

 
160 

 

 
184 

Amortization of net gain

 

 
(100)

 

 
(43)

 

 
(299)

 

 
(129)

Net periodic other postretirement benefit  cost (gain)

 

$
(7)

 

$
81 

 

$
(20)

 

$
243