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v3.23.3

Pension and Postretirement Benefit Obligations (Tables) | 9 Months Ended
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Sep. 29, 2023
Retirement Benefits [Abstract] |
Summary of Components of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost | The components of total pension expense were as follows:
|  | Third Quarter |  | First Nine Months
(in thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Service cost |  | $ | 1,099 |  |  | $ | 1,860 |  |  | $ | 3,298 |  |  | $ | 5,581 |
Interest cost |  | 517 |  |  | 2,659 |  |  | 7,533 |  |  | 7,977 |
Expected return on plan assets |  | (609) |  |  | (2,036) |  |  | (6,437) |  |  | (6,107) |
Recognized net actuarial loss |  | — |  |  | 989 |  |  | 1,946 |  |  | 2,966 |
Amortization of prior service cost |  | 4 |  |  | — |  |  | 12 |  |  | — |
Net periodic pension cost |  | 1,011 |  |  | 3,472 |  |  | 6,352 |  |  | 10,417 |
Settlement expense |  | 77,319 |  |  | — |  |  | 117,096 |  |  | — |
Total pension expense |  | $ | 78,330 |  |  | $ | 3,472 |  |  | $ | 123,448 |  |  | $ | 10,417 |
The components of net periodic postretirement benefit cost were as follows:
|  | Third Quarter |  | First Nine Months
(in thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Service cost |  | $ | 294 |  |  | $ | 383 |  |  | $ | 882 |  |  | $ | 1,150 |
Interest cost |  | 697 |  |  | 474 |  |  | 2,092 |  |  | 1,423 |
Recognized net actuarial loss |  | — |  |  | 92 |  |  | — |  |  | 275 |
Net periodic postretirement benefit cost |  | $ | 991 |  |  | $ | 949 |  |  | $ | 2,974 |  |  | $ | 2,848 |

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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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