PENSION AND POST RETIREMENT BENEFIT PLANS |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pension and Other Postretirement Benefit Expense [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PENSION AND POST RETIREMENT BENEFIT PLANS |
NOTE 7. PENSION AND POST RETIREMENT BENEFIT PLANS
The following table represents the net periodic pension benefit costs and related components in accordance with FASB ASC 715 Compensation - Retirement Benefits:
Components of Net Pension Benefit Gain
During the three months ended March 31, 2016, the Company did not make any contribution to its defined benefit retirement plans (the Plans) compared to $3.5 million in contribution during the same period in 2015. The Company made $5.0 million in contributions for the year ended December 31, 2015. The Company is planning on making contributions to the Plans during the fiscal year ending December 31, 2016 of approximately $3.3 million. |
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