Question-and-Answer Session
Operator
(Operator instructions) Our first question is from Ryan McGaver of Capstone Investments. Please go ahead.
Ryan McGaver – Capstone Investments
Cal, what was the D&A for the fourth quarter?
Cal Jenness
It was about 23 for the year; fourth quarter – let me look it up.
Ryan McGaver – Capstone Investments
While you find it –
Cal Jenness
Yes, give me another one. I will find it.
Ryan McGaver – Capstone Investments
Sure. In terms of the backlog lengthening, could you give us an idea of how long it has been, kind of expended versus what it had been maybe a year ago?
Cal Jenness
Backlog has never been much more than looking out at the quarter; may be just look at just the absolute levels of it and what rolls to the next quarter. So, for example, if at the end of 2007, it was $66 million or thereabouts; the first quarter sales were over $100 million in 2008. So it would kind of waltz through pretty quickly. But I would say on this backlog, it was probably about half of the backlog right now is for orders in the next sixty days or so. You know, that probably is more like 75 or so historically. So there is a slight lag there.
Ryan McGaver – Capstone Investments
Okay. I know on previous calls you have indicate that there is no steel hedging going on. Are there any plans to change that in 2009?
Cal Jenness
No. We have kind of had a lag on the upside. We will probably have a lag on the other way too. But we will be with the market, a little bit of lag probably from the general markets.
Ryan McGaver – Capstone Investments
Okay. Other than that D&A number, I get back in queue.
Operator
The next question is from Dax Vlassis of Gates Capital Management. Please go ahead.
Dax Vlassis – Gates Capital Management
Cal, what was the pension expense for the full year and expectation for 2009 and can you talk a little bit about the funded status of the plan that you are in?
Cal Jenness
Yes. I might not have these numbers precise but the year-over-year pension increase was about $6 million from 2008 to 2009. We went from probably a nominal cost of about $7 million in pension expense next year; that is just our funded plan. Everything else didn't change that much but that really reflects the kind of the downturn on the assets. Worldwide, on our funded pension plan, at the end of 2007 we were at least actuarially fully funded, give or take $1 million. Then in 2008, I think we were about $40 million down right now. We had probably about a mid-20% kind of decline in assets down the year. So that has been going on quite a bit. The good news is that, with the US froze two years ago, so we don’t accumulate any more benefit there.
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