Quarterly report pursuant to Section 13 or 15(d)

Employee Retirement Plans

v2.3.0.15
Employee Retirement Plans
 9 Months Ended
Sep. 30, 2011
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,
2011

 

September 30,
2010

 

September 30,
2011

 

September 30,
2010

 

 

 

 

 

 

 

 

 

 

 

Component of net periodic pension cost:

 

 

 

 

 

 

 

 

 

Service cost

 

$

240

 

$

200

 

$

720

 

$

600

 

Interest cost

 

385

 

358

 

1,155

 

1,074

 

Expected return on plan assets

 

(339

)

(290

)

(1,017

)

(870

)

Amortization of net loss

 

113

 

81

 

339

 

243

 

Net periodic pension cost

 

$

399

 

$

349

 

$

1,197

 

$

1,047

 

 

The Company estimates its total required minimum contributions to its pension plans in 2011 will be $1,917.  Through September 30, 2011, the Company has made $1,570 of cash contributions to the pension plans in 2011 versus $711 through the same period in 2010.

 

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

 

 

 

Three months ended

 

Nine months ended

 

 

 

September 30,
2011

 

September 30,
2010

 

September 30,
2011

 

September 30,
2010

 

 

 

 

 

 

 

 

 

 

 

Components of net periodic other postretirement benefit cost

 

 

 

 

 

 

 

 

 

Service cost

 

$

66

 

$

71

 

$

197

 

$

237

 

Interest cost

 

102

 

107

 

306

 

348

 

Amortization of net gain

 

(15

)

—

 

(46

)

(7

)

Curtailment gain - Johnson City closing

 

—

 

—

 

—

 

(667

)

Net periodic other postretirement benefit cost

 

$

153

 

$

178

 

$

457

 

$

(89

)