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Employee Benefit Plans | 3 Months Ended
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Mar. 31, 2024
Retirement Benefits [Abstract] |
Employee Benefit Plans | Employee Benefit Plans Retirement Plans and Retiree Health and Life Insurance Plans The Company provides non-contributory defined benefit pension plans for certain of its employees in the United States, Mexico, Belgium, Germany, Greece, France, and Turkey. The Company also sponsors contributory defined benefit pension plans covering certain of its employees in the United Kingdom, Canada and the Netherlands, and provides postretirement healthcare and life insurance benefits to a limited number of its retirees and their dependents in the United States and Canada, based on certain age and/or service eligibility requirements. The components of net periodic benefit cost/(income) include the following:
|  |  |  | Three Months Ended
|  |  |  |  |  | March 31, 2024 |  | April 2, 2023
Retirement Plans |  |  |  |  |  |  |  |
Service cost |  |  |  |  |  | $ | 755 |  |  | $ | 687 |
Interest cost |  |  |  |  |  | 4,709 |  |  | 4,294 |
Expected return on plan assets |  |  |  |  |  | (2,796) |  |  | (2,444) |
Amortization of prior service cost |  |  |  |  |  | 205 |  |  | 219 |
Amortization of net actuarial loss |  |  |  |  |  | 1,075 |  |  | 1,045 |
Effect of settlement loss |  |  |  |  |  | — |  |  | 686 |
Net periodic benefit cost |  |  |  |  |  | $ | 3,948 |  |  | $ | 4,487 |
Retiree Health and Life Insurance Plans |  |  |  |
Service cost |  |  |  |  |  | $ | 54 |  |  | $ | 62 |
Interest cost |  |  |  |  |  | 250 |  |  | 130 |
Expected return on plan assets |  |  |  |  |  | (98) |  |  | (79) |
Amortization of prior service cost |  |  |  |  |  | 96 |  |  | — |
Amortization of net actuarial gain |  |  |  |  |  | (146) |  |  | (193) |
Net periodic benefit cost/(income) |  |  |  |  |  | $ | 156 |  |  | $ | (80) |
Settlement Charges The Company recognized settlement ch arges of $686 during the three-month period ended April 2, 2023. These charges resulted from payments made to certain participants in the Company’s non-union Canadian pension plan who elected a lump sum distribution option upon retirement. No settlement charges were recognized during the three-month period ended March 31, 2024. Contributions The Company made aggregate contributions of $3,989 and $4,931 to its defined benefit retirement and retiree health and life insurance plans during the three-month periods ended March 31, 2024 and April 2, 2023, respectively. The Company expects to make additional aggregate contributions of approximately $16,300 to its defined benefit retirement and retiree health and life insurance plans over the remainder of 2024.

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