v2.4.0.8

EMPLOYEE BENEFIT PLANS | 9 Months Ended
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Sep. 30, 2014
EMPLOYEE BENEFIT PLANS |
EMPLOYEE BENEFIT PLANS | NOTE 9—EMPLOYEE BENEFIT PLANS The Company sponsors frozen non-contributory qualified and non-qualified defined benefit pension plans generally covering all employees who, prior to the freeze, were age 21 or older and had completed at least 1,000 hours of service in their first twelve months of employment, or in a calendar year ending thereafter, and who were not covered by a collective bargaining agreement. The Company also offers eligible retirees the opportunity to participate in a health plan. Certain employees are eligible for subsidized postretirement medical benefits. The eligibility for these benefits is based upon a participant's age and service as of January 1, 2009. The Company also sponsors a postretirement deferred compensation plan. The Company made pension contributions of approximately $2,360,000 during 2014. Net periodic benefit cost recognized for the plans during the three months ended September 30, 2014 and the three months ended September 30, 2013 consists of the following:
|  | Pension Benefits |  | Other Benefits |
--- | --- | --- | --- | --- | ---
(In thousands) |  | September 30, 2014 |  | September 30, 2013 |  | September 30, 2014 |  | September 30, 2013 |
Components of net periodic benefit cost: |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | — |  | $ | 45 |  | $ | 9 |  | $ | 49 |
Interest cost |  |  | 1,153 |  |  | 1,128 |  |  | 54 |  |  | 217 |
Expected return on plan assets |  |  | (1,308 | ) |  | (1,177 | ) |  | — |  |  | — |
Amortization of net gain |  |  | (259 | ) |  | — |  |  | (87 | ) |  | (20 | )
Amortization of prior service credit |  |  | — |  |  | — |  |  | (417 | ) |  | — |
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Net periodic benefit cost (credit) |  | $ | (414 | ) | $ | (4 | ) | $ | (441 | ) | $ | 246 |
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Net periodic benefit cost recognized for the plans during the nine months ended September 30, 2014 and the nine months ended September 30, 2013 consists of the following:
|  | Pension Benefits |  | Other Benefits |
--- | --- | --- | --- | --- | ---
(In thousands) |  | September 30, 2014 |  | September 30, 2013 |  | September 30, 2014 |  | September 30, 2013 |
Components of net periodic benefit cost: |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | — |  | $ | 135 |  | $ | 27 |  | $ | 146 |
Interest cost |  |  | 3,457 |  |  | 3,384 |  |  | 160 |  |  | 652 |
Expected return on plan assets |  |  | (3,922 | ) |  | (3,530 | ) |  | — |  |  | — |
Amortization of net gain |  |  | (776 | ) |  | — |  |  | (261 | ) |  | (58 | )
Amortization of prior service credit |  |  | — |  |  | — |  |  | (1,249 | ) |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net periodic benefit cost (credit) |  | $ | (1,241 | ) | $ | (11 | ) | $ | (1,323 | ) | $ | 740 |
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