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Retirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2012

Key Assumptions used in Determining Benefit Plan Costs and Obligations

The following table includes the key assumptions used in determining the Company’s benefit plan costs and obligations:

		2012				2011				2010
Used to Determine Plan costs for years ended December 31:
Discount Rate			4.60	%			5.35	%			5.75	%
Rate of Compensation Increase			3.00	%			3.50	%			3.50	%
Expected Long-term rate of return on plan assets			8.50	%			8.50	%			8.50	%
Health Care Cost Trend Rate Assumed for Next Year			6.50	%			7.00	%			7.50	%
Ultimate Health Care Cost Trend Rate			4.00	%			4.00	%			4.00	%
Year that Ultimate Health Care Cost Trend Rate is reached			2017				2017				2017
Effect of 1% Increase in Health Care Cost Trend Rate (000’s)		$	981			$	909			$	728
Effect of 1% Decrease in Health Care Cost Trend Rate (000’s)		$	(756	)		$	(705	)		$	(565	)

Used to Determine Benefit Obligations at December 31:
Discount Rate			4.00	%			4.60	%			5.35	%
Rate of Compensation Increase			3.00	%			3.00	%			3.50	%
Health Care Cost Trend Rate Assumed for Next Year			8.00	%			6.50	%			7.00	%
Ultimate Health Care Cost Trend Rate			4.00	%			4.00	%			4.00	%
Year that Ultimate Health care Cost Trend Rate is reached			2017				2017				2017
Effect of 1% Increase in Health Care Cost Trend Rate (000’s)		$	11,808			$	9,109			$	7,530
Effect of 1% Decrease in Health Care Cost Trend Rate (000’s)		$	(9,291	)		$	(7,217	)		$	(5,997	)

Components of Retirement Plan Costs

The following table provides the components of the Company’s Retirement plan costs ($000’s):

		Pension Plan												PBOP Plan												SERP
		2012				2011				2010				2012				2011				2010				2012				2011				2010
Service Cost		$	3,227			$	2,941			$	2,608			$	2,066			$	1,918			$	1,466			$	289			$	285			$	285
Interest Cost			4,633				4,684				4,457				2,303				2,279				2,016				211				227				227
Expected Return on Plan Assets			(5,390	)			(4,840	)			(4,181	)			(695	)			(818	)			(599	)			—				—				—
Prior Service Cost Amortization			188				249				253				1,729				1,729				1,579				11				11				2
Transition Obligation Amortization			—				—				—				21				21				21				—				—				—
Curtailment Loss			—				—				41				—				—				—				—				—				—
Actuarial Loss Amortization			3,617				3,132				2,406				129				—				—				64				78				133
Sub-total			6,275				6,166				5,584				5,553				5,129				4,483				575				601				647
Amounts Capitalized and Deferred			(2,726	)			(2,590	)			(2,240	)			(2,127	)			(1,622	)			(1,183	)			—				—				—
NPBC Recognized		$	3,549			$	3,576			$	3,344			$	3,426			$	3,507			$	3,300			$	575			$	601			$	647

Plans' Assets, Projected Benefit Obligations (PBO), and Funded Status

The following table represents information on the plans’ assets, projected benefit obligations (PBO), and funded status ($000’s):

		Pension Plan								PBOP Plan								SERP
Change in Plan Assets:		2012				2011				2012				2011				2012				2011
Plan Assets at Beginning of Year		$	59,700			$	54,100			$	7,339			$	8,862			$	—			$	—
Actual Return on Plan Assets			7,780				225				837				108				—				—
Employer Contributions			9,387				8,813				2,190				—				53				53
Participant Contributions			—				—				18				13				—				—
Acquired Plan Assets			—				—				—				—				—				—
Benefits Paid			(4,456	)			(3,438	)			(2,083	)			(1,644	)			(53	)			(53	)
Plan Assets at End of Year		$	72,411			$	59,700			$	8,301			$	7,339			$	—			$	—
Change in PBO:
PBO at Beginning of Year		$	102,719			$	89,393			$	50,930			$	43,344			$	4,615			$	4,263
Service Cost			3,227				2,941				2,066				1,918				289				285
Interest Cost			4,633				4,684				2,303				2,279				211				227
Participant Contributions			—				—				18				13				—				—
Plan Amendments			617				—				(318	)			—				—				—
Curtailment Gain			—				—				—				—				—				—
Benefits Paid			(4,456	)			(3,438	)			(2,083	)			(1,644	)			(53	)			(53	)
Actuarial (Gain) or Loss			9,752				9,139				9,176				5,020				1,145				(107	)
PBO at End of Year		$	116,492			$	102,719			$	62,092			$	50,930			$	6,207			$	4,615
Funded Status: Assets vs PBO		$	(44,081	)		$	(43,019	)		$	(53,791	)		$	(43,591	)		$	(6,207	)		$	(4,615	)

Employer Contributions, Participant Contributions and Benefit Payments

The following table represents employer contributions, participant contributions and benefit payments ($000’s).

		Pension Plan												PBOP Plan												SERP
		2012				2011				2010				2012				2011				2010				2012				2011				2010
Employer Contributions		$	9,387			$	8,813			$	4,302			$	2,190			$	—			$	3,482			$	53			$	53			$	53
Participant Contributions		$	—			$	—			$	—			$	18			$	13			$	—			$	—			$	—			$	—
Benefit Payments		$	4,456			$	3,438			$	3,185			$	2,083			$	1,644			$	1,848			$	53			$	53			$	53

Estimated Future Benefit Payments

The following table represents estimated future benefit payments ($000’s).

Estimated Future Benefit Payments
		Pension				PBOP				SERP
2013		$	4,698			$	1,811			$	357
2014			4,448				1,960				353
2015			4,567				2,083				349
2016			4,908				2,156				344
2017			5,121				2,284				339
2018 - 2022		$	30,278			$	13,535			$	1,767

Actual Investment Allocations

The actual investment allocations are shown in the tables below.

Pension Plan		Target Allocation 2013				Actual Allocation at December 31,
						2012				2011				2010
Equity Funds			48	%			48	%			49	%			58	%
Debt Funds			47	%			47	%			46	%			42	%
Asset Allocation Fund(1)			5	%			5	%			5	%			0	%
Total							100	%			100	%			100	%

⁽¹⁾  Represents investments in an asset allocation fund. This fund invests in both equity and debt securities.

PBOP Plan		Target Allocation 2013				Actual Allocation at December 31,
						2012				2011				2010
Equity Funds			55	%			56	%			55	%			56	%
Debt Funds			45	%			44	%			45	%			44	%
Total							100	%			100	%			100	%

Pension Plans

Assets Measured at Fair Value on Recurring Basis

Assets measured at fair value on a recurring basis for the Pension Plan as of December 31, 2012 and 2011 are as follows ($000’s):

		Fair Value Measurements at Reporting Date Using
Description		Balance as of December 31, 2012				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Pension Plan Assets:
Mutual Funds:
Equity Funds		$	34,742			$	34,742			$	—			$	—
Fixed Income Funds			34,251				34,251				—				—
Asset Allocation Fund			3,418				3,418				—				—
Total Assets		$	72,411			$	72,411			$	—			$	—

		Fair Value Measurements at Reporting Date Using
Description		Balance as of December 31, 2011				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Pension Plan Assets:
Mutual Funds:
Equity Funds		$	29,094			$	29,094			$	—			$	—
Fixed Income Funds			27,697				27,697				—				—
Asset Allocation Fund			2,909				2,909				—				—
Total Assets		$	59,700			$	59,700			$	—			$	—

Other Postretirement Benefit Plans, Defined Benefit

Assets Measured at Fair Value on Recurring Basis

Assets measured at fair value on a recurring basis for the PBOP Plan as of December 31, 2012 and 2011 are as follows ($000’s):

		Fair Value Measurements at Reporting Date Using
Description		Balance as of December 31, 2012				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
PBOP Plan Assets:
Mutual Funds:
Fixed Income Funds		$	3,670			$	3,670			$	—			$	—
Index Funds			3,357				3,357
Equity Funds			1,274				1,274
Total Assets		$	8,301			$	8,301			$	—			$	—

		Fair Value Measurements at Reporting Date Using
Description		Balance as of December 31, 2011				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
PBOP Plan Assets:
Mutual Funds:
Fixed Income Funds		$	3,311			$	3,311			$	—			$	—
Index Funds			2,977				2,977
Equity Funds			1,051				1,051
Total Assets		$	7,339			$	7,339			$	—			$	—

X

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 6

-Footnote 4

-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 Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-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 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258



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