XML 29 R18.htm IDEA: XBRL DOCUMENT v3.21.2
Retirement Plans
 6 Months Ended
Jul. 03, 2021
Retirement Benefits [Abstract]  
Retirement Plans
11 Retirement Plans
The Company sponsors various retirement plans. The components of net periodic benefit cost other than the service cost component are included in other expense in the consolidated statements of operations. The summary of the components of net periodic pension costs for the plans for the three and six months ended July 3, 2021 and June 27, 2020 is as follows (in thousands):
 
    
Three Months Ended
  
    
July 3, 2021
     
June 27, 2020
  
    
U.S. Retiree

Healthcare

Plan
     
Non-U.S.

Pension

Plans
     
U.S. Retiree

Healthcare

Plan
     
Non-U.S.

Pension

Plans
  
Service cost
    $ 232      $ 1,147      $ 151      $ 1,095  
Interest cost
      139        312        177        338  
Expected return on plan assets
      (255 )       (464 )       (220 )       (454 ) 
Net amortization:
                                    
Prior service credit
      (4 )       (39 )       (5 )       (41 ) 
Net actuarial loss
      —          261        —          382  
    
 
 
     
 
 
     
 
 
     
 
 
  
Net periodic pension cost
    $ 112      $ 1,217      $ 103      $ 1,320  
    
 
 
     
 
 
     
 
 
     
 
 
  
   
    
Six Months Ended
  
    
July 3, 2021
     
June 27, 2020
  
    
U.S. Retiree

Healthcare

Plan
     
Non-U.S.

Pension

Plans
     
U.S. Retiree

Healthcare

Plan
     
Non-U.S.

Pension

Plans
  
Service cost
    $ 465      $ 2,307      $ 302      $ 2,194  
Interest cost
      278        627        353        683  
Expected return on plan assets
      (510 )       (930 )       (439 )       (910 ) 
Net amortization:
                                    
Prior service credit
      (9 )       (80 )       (10 )       (81 ) 
Net actuarial loss
      —          523        —          767  
    
 
 
     
 
 
     
 
 
     
 
 
  
Net periodic pension cost
    $ 224      $ 2,447      $ 206      $ 2,653  
    
 
 
     
 
 
     
 
 
     
 
 
  
During fiscal year 2021, the Company expects to contribute a total of approximately $3 million to $6 million to the Company’s defined benefit plans.