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Pension and Postretirement Benefit Obligations (Tables) | 3 Months Ended
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Mar. 29, 2024
Retirement Benefits [Abstract] |
Summary of Components of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost | The components of net periodic pension cost related to the Bargaining Plan during the first quarter of 2024 and both the Bargaining Plan and the Primary Plan during the first quarter of 2023 were as follows:
|  | First Quarter |  |
(in thousands) |  | 2024 |  | 2023 |  |  |  |
Service cost |  | $ | 1,091 |  |  | $ | 1,099 |  |  |  |  |
Interest cost |  | 589 |  |  | 3,508 |  |  |  |  |
Expected return on plan assets |  | (763) |  |  | (2,914) |  |  |  |  |
Recognized net actuarial loss |  | — |  |  | 973 |  |  |  |  |
Amortization of prior service cost |  | 4 |  |  | 4 |  |  |  |  |
Net periodic pension cost |  | $ | 921 |  |  | $ | 2,670 |  |  |  |  |
The components of net periodic postretirement benefit cost were as follows:
|  | First Quarter |  |
(in thousands) |  | 2024 |  | 2023 |  |  |  |
Service cost |  | $ | 310 |  |  | $ | 294 |  |  |  |  |
Interest cost |  | 781 |  |  | 698 |  |  |  |  |
Recognized net actuarial loss |  | 26 |  |  | — |  |  |  |  |
Net periodic postretirement benefit cost |  | $ | 1,117 |  |  | $ | 992 |  |  |  |  |

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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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