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PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS (Tables) | 9 Months Ended
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Sep. 29, 2024
Retirement Benefits [Abstract] |
Schedule of Components of Net Periodic Benefit Cost | The components of net periodic benefit cost for the three months ended September 29, 2024 and October 1, 2023 were as follows:
|  | Pension Benefits |  | Other Benefits
|  | Three Months Ended |  | Three Months Ended
|  | September 29, 2024 |  | October 1, 2023 |  | September 29, 2024 |  | October 1, 2023
Service cost |  | $ | 3,827 |  | $ | 3,747 |  | $ | 33 |  | $ | 57
Interest cost |  | 9,662 |  |  | 10,259 |  |  | 1,215 |  |  | 1,794 |
Expected return on plan assets |  | (12,800) |  |  | (12,275) |  |  | — |  |  | — |
Amortization of prior service credit |  | (1,374) |  |  | (1,414) |  |  | (38) |  |  | (13) |
Amortization of net loss (gain) |  | 3,814 |  |  | 4,974 |  |  | 138 |  |  | (242) |
Settlement loss |  | — |  |  | 943 |  |  | — |  |  | 926 |
Total net periodic benefit cost |  | $ | 3,129 |  |  | $ | 6,234 |  |  | $ | 1,348 |  |  | $ | 2,522 |
The components of net periodic benefit cost for the nine months ended September 29, 2024 and October 1, 2023 were as follows:
|  | Pension Benefits |  | Other Benefits
|  | Nine Months Ended |  | Nine Months Ended
|  | September 29, 2024 |  | October 1, 2023 |  | September 29, 2024 |  | October 1, 2023
Service cost |  | $ | 11,512 |  | $ | 11,269 |  | $ | 100 |  | $ | 166
Interest cost |  | 28,995 |  |  | 30,819 |  |  | 3,646 |  |  | 5,984 |
Expected return on plan assets |  | (38,407) |  |  | (37,041) |  |  | — |  |  | — |
Amortization of prior service credit |  | (4,120) |  |  | (4,243) |  |  | (113) |  |  | (13) |
Amortization of net loss (gain) |  | 11,435 |  |  | 14,961 |  |  | 416 |  |  | (901) |
Settlement loss |  | — |  |  | 5,332 |  |  | — |  |  | 926 |
Total net periodic benefit cost |  | $ | 9,415 |  |  | $ | 21,097 |  |  | $ | 4,049 |  |  | $ | 6,162 |

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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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