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EMPLOYEE BENEFIT PLANS
 6 Months Ended
Jun. 30, 2012
Compensation and Retirement Disclosure  
EMPLOYEE BENEFIT PLANS
10.
EMPLOYEE BENEFIT PLANS
 
The Company participates in a multiple employer pension plan.  The following represents the net periodic benefit cost (credit) and related components for the plan:
 
(in thousands)
  
Three months ended
June 30,
    
Six months ended
June 30,
  
   
2012
    
2011
    
2012
    
2011
  
Interest cost
   $ 64     $ 66     $ 127     $ 133  
Expected return on plan assets
     (83 )     (80 )     (165 )     (161 )
Amortization of net losses
     16       10       31       19  
Net periodic benefit
   $ (3 )   $ (4 )   $ (7 )   $ (9 )
 
During the first six months of 2012, the Company made a contribution of $637,000 to this plan.
 
The Company permits selected highly compensated employees to defer a portion of their compensation into a non-qualified Supplemental Executive Retirement Plan (“SERP”).  The Company maintains certain securities in the SERP that have been classified as trading.  The SERP assets are marked to market and totaled $5,898,000 as of June 30, 2012 and $6,510,000 as of December 31, 2011.  The SERP assets are reported in other assets on the consolidated balance sheets and changes related to the fair value of the assets are included in selling, general and administrative expenses in the consolidated statements of operations.
 
Trading results related to the SERP assets totaled approximately the following:
 
(in thousands)
  
Three months ended June 30,
    
Six months ended June 30,
  
   
2012
    
2011
    
2012
    
2011
  
   Gains (losses), net
   $ (79 )   $ (33 )   $ 53     $ (118 )