Employee Benefit Plans

6 Months Ended

Sep. 30, 2012

Note 3: Employee Benefit Plans

During the three months ended September 30, 2012 and 2011, the Company recorded compensation expense of $1,414 and $655, respectively, related to its 401(k) defined contribution plans. During the six months ended September 30, 2012 and 2011, the Company recorded compensation expense of $3,044 and $1,885, respectively, related to its 401(k) defined contribution plans.

During the three months ended September 30, 2012 and 2011, the Company elected to contribute $2,600 and $2,150, respectively, to its U.S. pension plans. During the six months ended September 30, 2012 and 2011, the Company elected to contribute $4,750 and $7,200, respectively, to its U.S. pension plans.

Costs for Modine's pension and postretirement benefit plans include the following components:

	Three months ended September 30												Six months ended September 30
	Pension						Postretirement						Pension						Postretirement
	2012			2011			2012			2011			2012			2011			2012			2011
Service cost	$	157		$	425		$	12		$	9		$	298		$	851		$	23		$	21
Interest cost		3,385			3,502			80			89			6,726			7,007			154			173
Expected return on plan assets		(4,023	)		(3,848	)		-			-			(8,054	)		(7,696	)		-			-
Amortization of:
Unrecognized net loss (gain)		1,238			1,995			(6	)		-			2,493			3,990			(6	)		(12	)
Unrecognized prior service credit		-			-			(372	)		(416	)		-			-			(744	)		(831	)
Net periodic benefit cost (income)	$	757		$	2,074		$	(286	)	$	(318	)	$	1,463		$	4,152		$	(573	)	$	(649	)