NOTE C – PENSION PLANS

PLP-USA hourly employees of the Company who meet specific requirements as to age and service are covered by a defined benefit pension plan (“Plan”). On December 12, 2012, the Company approved a freeze on further benefit accruals under the PLP-USA hourly employee pension plan and notified the participants of the freeze on December 19, 2012. Beginning February 1, 2013, participants have ceased earning additional benefits under the Plan and no new participants will enter the Plan. The Plan freeze required a valuation of the Plan’s assets and obligations as of December 31, 2012, which resulted in a non-cash curtailment gain of $6.3 million, which was recognized in the Other comprehensive income (loss) during the fourth quarter 2012. The measurement of the Plan’s assets and obligations also resulted in a reduction in the Company’s pension liability of $6.3 million. The Company uses a December 31 measurement date for the Plan. Net periodic benefit cost for the Plan included the following components:


	Three month period ended June 30						Six month period ended June 30
	2013			2012			2013			2012
Service cost	$	74		$	351		$	111		$	650
Interest cost		314			361			626			705
Expected return on plan assets		(351	)		(295	)		(718	)		(593	)
Recognized net actuarial loss		123			199			247			375

Net periodic benefit cost	$	159		$	616		$	265		$	1,137

During the six month period ended June 30, 2013, $.9 million of contributions were made to the Plan. The Company presently anticipates contributing an additional $.5 million to fund the Plan in 2013.