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Note E - Pension And Other Postretirment Benefits
9 Months Ended
Sep. 30, 2011
Pension and Other Postretirement Benefits Disclosure [Text Block]
NOTE E - PENSION AND OTHER POSTRETIREMENT BENEFITS

The Company sponsors a defined benefit pension plan covering substantially all employees hired prior to January 1, 2008.  Additionally, the Company sponsors a defined contribution pension plan at one location not participating in the defined benefit pension plan.  A 401(k) plan that includes a graduated Company match is also available.  The Company also sponsors a non-contributory defined benefit health care plan that provides certain health benefits to substantially all retirees and their spouses.

For substantially all United States employees hired after January 1, 2008, an enhanced 401(k) plan is available instead of the Company’s defined benefit pension plan.  Benefits are based on age and years of service with the Company.  Employees hired prior to January 1, 2008 were not affected by the change.

The following tables present the components of net periodic benefit cost:

   
Pension Benefits
   
Postretirement Benefits
 
(Thousands of dollars)
 
Three Months Ended
September 30,
   
Three Months Ended
September 30,
 
   
2011
   
2010
   
2011
   
2010
 
Service cost
  $ 714     $ 680     $ 263     $ 276  
Interest cost
    767       789       277       315  
Expected return on plan assets
    (1,127 )     (1,107 )     -       -  
Recognized actuarial loss (gain)
    418       394       (164 )     (143 )
Benefit cost
  $ 772     $ 756     $ 376     $ 448  

   
Pension Benefits
   
Postretirement Benefits
 
(Thousands of dollars)
 
Nine Months Ended
September 30,
   
Nine Months Ended
September 30,
 
   
2011
   
2010
   
2011
   
2010
 
Service cost
  $ 2,142     $ 2,041     $ 789     $ 829  
Interest cost
    2,301       2,366       831       943  
Expected return on plan assets
    (3,383 )     (3,321 )     -       -  
Recognized actuarial loss (gain)
    1,256       1,182       (492 )     (430 )
Benefit cost
  $ 2,316     $ 2,268     $ 1,128     $ 1,342