Quarterly report pursuant to Section 13 or 15(d)

Employee Retirement Plans

v2.4.0.8
Employee Retirement Plans
6 Months Ended
Jun. 30, 2013
Employee Retirement Plans  
Employee Retirement Plans

8.                                      Employee Retirement Plans

 

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

 

 

 

Three months ended

 

Six months ended

 

 

 

June 30, 2013

 

June 30, 2012

 

June 30, 2013

 

June 30, 2012

 

 

 

 

 

 

 

 

 

 

 

Component of net periodic pension cost:

 

 

 

 

 

 

 

 

 

Service cost

 

$

62

 

$

67

 

$

123

 

$

134

 

Interest cost

 

362

 

370

 

724

 

740

 

Expected return on plan assets

 

(352

)

(318

)

(704

)

(636

)

Amortization of net loss

 

302

 

192

 

603

 

384

 

Net periodic pension cost

 

$

374

 

$

311

 

$

746

 

$

622

 

 

The Company estimates its total required minimum contributions to its pension plans in 2013 will be $827.  Through June 30, 2013, the Company has made $584 of cash contributions to the pension plans versus $838 through the same period in 2012.

 

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

 

 

 

Three months ended

 

Six months ended

 

 

 

June 30, 2013

 

June 30, 2012

 

June 30, 2013

 

June 30, 2012

 

 

 

 

 

 

 

 

 

 

 

Components of net periodic other postretirement benefit cost

 

 

 

 

 

 

 

 

 

Service cost

 

$

63

 

$

70

 

$

125

 

$

140

 

Interest cost

 

61

 

90

 

122

 

180

 

Amortization of net gain

 

(43

)

(4

)

(86

)

(8

)

Net periodic other postretirement benefit cost

 

$

81

 

$

156

 

$

161

 

$

312