v2.3.0.15
Employee Benefit Plans
9 Months Ended
Sep. 30, 2011
Employee Benefit Plans [Abstract] 
Employee Benefit Plans

8. Employee Benefit Plans

a) Expenses relating to the Company's defined contribution plans were $4.4 million and $12.9 million, respectively, for the quarter and nine months ended September 30, 2011 and $3.5 million and $10.1 million, respectively, for the same periods in 2010.

 

b) The following table presents the components of net periodic benefit cost for the Terra Nova Pension Plan, a defined benefit plan.

 

     Quarter Ended
September 30,		     Nine Months Ended
September 30,		  

(dollars in thousands)

    2011     2010     2011     2010  

Service cost

    $ 341      $ 312      $ 1,024      $ 923   

Interest cost

      1,790        1,714        5,369        5,076   

Expected return on plan assets

      (2,474 )      (2,176 )      (7,421 )      (6,443 ) 

Amortization of net actuarial pension loss

      480        486        1,440        1,439   
  

 

 

    

 

 

    

 

 

    

 

 

  

Net periodic benefit cost

    $ 137      $ 336      $ 412      $ 995   
  

 

 

    

 

 

    

 

 

    

 

 

  

The Company contributed $6.5 million to the Terra Nova Pension Plan during the nine months ended September 30, 2011. The Company expects plan contributions to total $6.8 million in 2011.