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Retirement Benefit Obligations | 9 Months Ended
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Sep. 30, 2012
Retirement Benefit Obligations | NOTE 9: RETIREMENT BENEFIT OBLIGATIONS The Company co-sponsors the Unitil Corporation Retirement Plan (Pension Plan), the Unitil Retiree Health and Welfare Benefits Plan (PBOP Plan), and the Unitil Corporation Supplemental Executive Retirement Plan (SERP) to provide certain pension and postretirement benefits for its retirees and current employees. Please see Note 10 to the Consolidated Financial Statements in the Company’s Form 10-K for the year ended December 31, 2011 as filed with the SEC on February 1, 2012 for additional information regarding these plans. The following table includes the key weighted average assumptions used in determining the Company’s benefit plan costs and obligations:
|  | 2012 |  |  | 2011 |
Used to Determine Plan Costs |  |  |  |  |  |  |  |
Discount Rate |  |  | 4.60 | % |  |  | 5.35 | %
Rate of Compensation Increase |  |  | 3.00 | % |  |  | 3.50 | %
Expected Long-term rate of return on plan assets |  |  | 8.50 | % |  |  | 8.50 | %
Health Care Cost Trend Rate Assumed for Next Year |  |  | 6.50 | % |  |  | 7.00 | %
Ultimate Health Care Cost Trend Rate |  |  | 4.00 | % |  |  | 4.00 | %
Year that Ultimate Health Care Cost Trend Rate is reached |  |  | 2017 |  |  |  | 2017 |
The following tables provide the components of the Company’s Retirement plan costs ($000’s):
|  | Pension Plan |  |  | PBOP Plan |  |  | SERP |
Three Months Ended September 30, |  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Service Cost |  | $ | 807 |  |  | $ | 735 |  |  | $ | 517 |  |  | $ | 479 |  |  | $ | 72 |  |  | $ | 71 |
Interest Cost |  |  | 1,158 |  |  |  | 1,171 |  |  |  | 576 |  |  |  | 570 |  |  |  | 53 |  |  |  | 57 |
Expected Return on Plan Assets |  |  | (1,347 | ) |  |  | (1,210 | ) |  |  | (174 | ) |  |  | (204 | ) |  |  | — |  |  |  | — |
Prior Service Cost Amortization |  |  | 47 |  |  |  | 62 |  |  |  | 432 |  |  |  | 432 |  |  |  | 3 |  |  |  | 3 |
Transition Obligation Amortization |  |  | — |  |  |  | — |  |  |  | 5 |  |  |  | 5 |  |  |  | — |  |  |  | — |
Actuarial Loss Amortization |  |  | 904 |  |  |  | 783 |  |  |  | 32 |  |  |  | — |  |  |  | 16 |  |  |  | 19 |
Sub-total |  |  | 1,569 |  |  |  | 1,541 |  |  |  | 1,388 |  |  |  | 1,282 |  |  |  | 144 |  |  |  | 150 |
Amounts Capitalized and Deferred |  |  | (703 | ) |  |  | (874 | ) |  |  | (571 | ) |  |  | (683 | ) |  |  | — |  |  |  | — |
Net Periodic Benefit Cost Recognized |  | $ | 866 |  |  | $ | 667 |  |  | $ | 817 |  |  | $ | 599 |  |  | $ | 144 |  |  | $ | 150 |
|  | Pension Plan |  |  | PBOP Plan |  |  | SERP |
Nine Months Ended September 30, |  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Service Cost |  | $ | 2,420 |  |  | $ | 2,206 |  |  | $ | 1,550 |  |  | $ | 1,438 |  |  | $ | 217 |  |  | $ | 214 |
Interest Cost |  |  | 3,475 |  |  |  | 3,513 |  |  |  | 1,727 |  |  |  | 1,709 |  |  |  | 158 |  |  |  | 170 |
Expected Return on Plan Assets |  |  | (4,042 | ) |  |  | (3,630 | ) |  |  | (521 | ) |  |  | (613 | ) |  |  | — |  |  |  | — |
Prior Service Cost Amortization |  |  | 141 |  |  |  | 187 |  |  |  | 1,296 |  |  |  | 1,296 |  |  |  | 9 |  |  |  | 8 |
Transition Obligation Amortization |  |  | — |  |  |  | — |  |  |  | 16 |  |  |  | 16 |  |  |  | — |  |  |  | — |
Actuarial Loss Amortization |  |  | 2,712 |  |  |  | 2,349 |  |  |  | 97 |  |  |  | — |  |  |  | 47 |  |  |  | 59 |
Sub-total |  |  | 4,706 |  |  |  | 4,625 |  |  |  | 4,165 |  |  |  | 3,846 |  |  |  | 431 |  |  |  | 451 |
Amounts Capitalized and Deferred |  |  | (1,984 | ) |  |  | (2,055 | ) |  |  | (1,551 | ) |  |  | (1,317 | ) |  |  | — |  |  |  | — |
Net Periodic Benefit Cost Recognized |  | $ | 2,722 |  |  | $ | 2,570 |  |  | $ | 2,614 |  |  | $ | 2,529 |  |  | $ | 431 |  |  | $ | 451 |
Employer Contributions As of September 30, 2012, the Company had made $9.4 million of contributions to its Pension Plan in 2012. The Company, along with its subsidiaries, expects to continue to make contributions to its Pension Plan in 2012 and future years at minimum required and discretionary funding levels consistent with the amounts recovered in the distribution utilities’ rates for these Pension Plan costs. As of September 30, 2012, the Company had made $2.2 million and $40,000 of contributions to the PBOP Plan and the SERP, respectively, in 2012. The Company presently anticipates contributing an additional $13,000 to the SERP in 2012.

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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 Statement of Financial Accounting Standard (FAS) -Number 158 -Paragraph 7, 21, 22 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Staff Position (FSP) -Number FAS106-2 -Paragraph 20, 21, 22 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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