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Pension Plans (Tables) | 6 Months Ended
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Jun. 30, 2012
Pension Plans Tables |
The following table contains the components of the pension expense |
|  | For the Three Months Ended June 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |  |  | 2012 Total |  |  | 2011 Total |
($ in thousands) |  | Pension Plan |  |  | Pension Plan |  |  | SERP |  |  | SERP |  |  | Both Plans |  |  | Both Plans |
Service cost - benefits earned during the period |  | $ | 457 |  |  |  | 478 |  |  |  | 76 |  |  |  | 115 |  |  |  | 533 |  |  |  | 593 |
Interest cost |  |  | 363 |  |  |  | 432 |  |  |  | 70 |  |  |  | 102 |  |  |  | 433 |  |  |  | 534 |
Expected return on plan assets |  |  | (492 | ) |  |  | (444 | ) |  |  | ─ |  |  |  | ─ |  |  |  | (492 | ) |  |  | (444 | )
Amortization of transition obligation |  |  | 1 |  |  |  | 1 |  |  |  | ─ |  |  |  | ─ |  |  |  | 1 |  |  |  | 1 |
Amortization of net (gain)/loss |  |  | 136 |  |  |  | 114 |  |  |  | ─ |  |  |  | 26 |  |  |  | 136 |  |  |  | 140 |
Amortization of prior service cost |  |  | 3 |  |  |  | 3 |  |  |  | 5 |  |  |  | 5 |  |  |  | 8 |  |  |  | 8 |
Net periodic pension cost |  | $ | 468 |  |  |  | 584 |  |  |  | 151 |  |  |  | 248 |  |  |  | 619 |  |  |  | 832 |
The Company recorded pension expense totaling $1,658,000 and $1,664,000 for the six months ended June 30, 2012 and 2011, respectively, related to the Pension Plan and the SERP. The following table contains the components of the pension expense.
|  | For the Six Months Ended June 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |  |  | 2012 Total |  |  | 2011 Total |
($ in thousands) |  | Pension Plan |  |  | Pension Plan |  |  | SERP |  |  | SERP |  |  | Both Plans |  |  | Both Plans |
Service cost - benefits earned during the period |  | $ | 1,061 |  |  |  | 956 |  |  |  | 170 |  |  |  | 230 |  |  |  | 1,231 |  |  |  | 1,186 |
Interest cost |  |  | 799 |  |  |  | 864 |  |  |  | 157 |  |  |  | 204 |  |  |  | 956 |  |  |  | 1,068 |
Expected return on plan assets |  |  | (984 | ) |  |  | (888 | ) |  |  | ─ |  |  |  | ─ |  |  |  | (984 | ) |  |  | (888 | )
Amortization of transition obligation |  |  | 2 |  |  |  | 2 |  |  |  | ─ |  |  |  | ─ |  |  |  | 2 |  |  |  | 2 |
Amortization of net (gain)/loss |  |  | 403 |  |  |  | 228 |  |  |  | 34 |  |  |  | 52 |  |  |  | 437 |  |  |  | 280 |
Amortization of prior service cost |  |  | 6 |  |  |  | 6 |  |  |  | 10 |  |  |  | 10 |  |  |  | 16 |  |  |  | 16 |
Net periodic pension cost |  | $ | 1,287 |  |  |  | 1,168 |  |  |  | 371 |  |  |  | 496 |  |  |  | 1,658 |  |  |  | 1,664 |

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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
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