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EMPLOYEE BENEFIT PLANS | 3 Months Ended
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Mar. 29, 2025
Retirement Benefits [Abstract] |
EMPLOYEE BENEFIT PLANS | EMPLOYEE BENEFIT PLANS During the fourth quarter of 2023, we initiated the wind-up of our Canadian defined benefit pension plans (collectively, the “Canadian Pension Plans”). We received regulatory approval for the wind-up which was completed during the three months ended March 29, 2025. This transaction resulted in a settlement loss of $0.3 recorded in net periodic pension benefit expense during the three months ended March 29, 2025. In addition, and in connection with this wind-up, we remeasured the assets and liabilities of the Canadian Pension Plans, which resulted in a loss of $0.5 recorded in net periodic pension benefit expense for the three months ended March 29, 2025. Lastly, as a result of the wind-up, we have eliminated the third-party cost and internal resource requirements associated with administering these benefit plans. Net periodic benefit (income) expense for our pension and postretirement plans include the following components: Domestic Pension Plans
| Three months ended
| March 29, 2025 |  | March 30, 2024
Service cost | $ | — |  |  | $ | — |
Interest cost | 3.0 |  |  | 3.0 |
Expected return on plan assets | (2.0) |  |  | (2.2) |
Net periodic pension benefit expense | $ | 1.0 |  |  | $ | 0.8 |
Foreign Pension Plans
| Three months ended
| March 29, 2025 |  | March 30, 2024
Service cost | $ | — |  |  | $ | — |
Interest cost | 1.0 |  |  | 1.4 |
Expected return on plan assets | (0.9) |  |  | (1.3) |
Settlement loss (1) | 0.3 |  |  | — |
Recognized net actuarial loss (1) | 0.5 |  |  | — |
Net periodic pension benefit expense | $ | 0.9 |  |  | $ | 0.1 |
__________________________ (1)Relates to the wind-up of the Canadian Pension Plans referred to previously. Postretirement Plans
| Three months ended
| March 29, 2025 |  | March 30, 2024
Service cost | $ | — |  |  | $ | — |
Interest cost | 0.3 |  |  | 0.3 |
Amortization of unrecognized prior service credits | (0.8) |  |  | (0.8) |
Net periodic postretirement benefit income | $ | (0.5) |  |  | $ | (0.5) |

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