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Components of Net Periodic Pension Benefit Cost
 6 Months Ended
Jun. 30, 2012
Components of Net Periodic Pension Benefit Cost [Abstract]  
Components of Net Periodic Pension Benefit Cost

Note I—Components of Net Periodic Pension Benefit Cost

Prior to January 1, 1999, we maintained a defined benefit pension plan for which most of our employees were eligible. We elected to freeze benefits under this defined benefit pension plan as of December 31, 1998.

In 1994, we adopted a non-qualified, unfunded, supplemental pension plan covering certain employees, which provides for incremental pension payments so that total pension payments equal those amounts that would have been payable from our principal pension plan if it were not for limitations imposed by income tax regulations. The benefits under this supplemental pension plan continue to accrue as if the principal pension plan had not been frozen.

 

Net pension cost for both plans included the following components:

 

                 
    Three Months Ended June 30,  

In thousands

   2012     2011  

Service cost

   $ 117     $ 114  

Interest cost

     1,960       2,030  

Expected return on plan assets

     (1,683 )      (1,756 ) 

Amortization of prior service cost

     1       12  

Recognized actuarial loss

     1,500       1,130  
   

 

 

    

 

 

  

Net periodic benefit cost

   $ 1,895     $ 1,530  
   

 

 

    

 

 

  
   
    Six Months Ended June 30,  

In thousands

   2012     2011  

Service cost

   $ 233     $ 229  

Interest cost

     3,920       4,059  

Expected return on plan assets

     (3,366 )      (3,511 ) 

Amortization of prior service cost

     2       24  

Recognized actuarial loss

     3,000       2,259  
   

 

 

    

 

 

  

Net periodic benefit cost

   $ 3,789     $ 3,060  
   

 

 

    

 

 

  

We made contributions to our funded, frozen pension plan of $1.3 million in the second quarter and $2.4 million in the first half of 2012. We plan to make contributions to this pension plan of $4.0 to $6.0 million in the second half of 2012. These contributions to our funded, frozen pension plan are being made in order to obtain the Pension Protection Act of 2006 full funding limit exemption.

We are not required to make and do not intend to make any contributions to our unfunded, supplemental pension plan in 2012 other than to the extent needed to cover benefit payments. We expect benefit payments under this supplemental pension plan to total $0.6 million in the second half of 2012.