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Employee Benefit Plans and Other Postretirement Benefits | 6 Months Ended
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Jun. 30, 2014
Compensation and Retirement Disclosure [Abstract] |
Employee Benefit Plans and Other Postretirement Benefits | Employee Benefit Plans and Other Postretirement Benefits The components of net periodic benefit cost for our pension plans were as follows (dollars in thousands):
| Pension Plans
| Three Months Ended June 30 |  | Six Months Ended June 30
| 2014 |  | 2013 |  | 2014 |  | 2013
Service cost | $ | 5,806 |  |  | $ | 6,249 |  |  | $ | 11,600 |  |  | $ | 12,497 |
Interest cost | 11,459 |  |  | 3,991 |  |  | 22,893 |  |  | 7,982 |
Expected return on plan assets | (12,672 | ) |  | (3,751 | ) |  | (25,351 | ) |  | (7,501 | )
Net amortization of unrecognized amounts |  |  |  |  |  |  |
Prior service cost | 1,640 |  |  | 1,560 |  |  | 3,281 |  |  | 3,121 |
Actuarial loss | 155 |  |  | 1,502 |  |  | 310 |  |  | 3,003 |
Curtailment loss (a) | — |  |  | 7,776 |  |  | — |  |  | 7,776 |
Net periodic benefit cost | $ | 6,388 |  |  | $ | 17,327 |  |  | $ | 12,733 |  |  | $ | 26,878 |
___________
(a) | In June 2013, the United Steelworkers (“USW”) ratified a master labor agreement with PCA under which we froze certain USW-represented corrugated plant employees pension accruals under PCA’s hourly pension plan. As of the date of the pension freeze, affected USW-represented employees will transition to a defined contribution 401k plan. In accordance with ASC 715, “Compensation — Retirement Benefits,” we recorded a $7.8 million pre-tax pension curtailment charge related to the unrecognized prior service costs of employees impacted by the pension freeze during the second quarter of 2013. We also remeasured the hourly pension plan benefit obligation using current fair values of plan assets and current assumptions, resulting in a decrease in the benefit obligation of $13.8 million with a corresponding decrease in accumulated other comprehensive income (loss) of $8.4 million and deferred taxes of $5.4 million.
PCA makes pension plan contributions that are sufficient to fund its actuarially determined costs, generally equal to the minimum amounts required by the Employee Retirement Income Security Act (ERISA). In 2014, we expect to contribute the required minimum, which we estimate to be approximately $5.0 million. The components of net periodic benefit cost for our postretirement plans were as follows (dollars in thousands):
| Postretirement Plans
| Three Months Ended June 30 |  | Six Months Ended June 30
| 2014 |  | 2013 |  | 2014 |  | 2013
Service cost | $ | 393 |  |  | $ | 515 |  |  | $ | 785 |  |  | $ | 1,030 |
Interest cost | 314 |  |  | 311 |  |  | 622 |  |  | 623 |
Net amortization of unrecognized amounts |  |  |  |  |  |  |
Prior service benefit | (56 | ) |  | (106 | ) |  | (113 | ) |  | (212 | )
Actuarial loss | 27 |  |  | 134 |  |  | 51 |  |  | 267 |
Net periodic benefit cost | $ | 678 |  |  | $ | 854 |  |  | $ | 1,345 |  |  | $ | 1,708 |

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6414718&loc=d3e28014-114942 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e2410-114920 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=35742057&loc=SL14450702-114947 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6414199&loc=d3e39622-114963 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39675-114964 + Details
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