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v3.25.1

Employee Benefit Plans | 3 Months Ended
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Mar. 30, 2025
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, France, and Turkey. Following the acquisition of Eviosys on December 4, 2024, the Company now also provides non-contributory defined benefit pension plans for certain of its employees in Italy, Switzerland, Spain, and Ireland. 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 include the following:
|  |  |  | Three Months Ended
|  |  |  |  |  | March 30, 2025 |  | March 31, 2024
Retirement Plans |  |  |  |  |  |  |  |
Service cost |  |  |  |  |  | $ | 1,196 |  |  | $ | 755 |
Interest cost |  |  |  |  |  | 5,133 |  |  | 4,709 |
Expected return on plan assets |  |  |  |  |  | (3,205) |  |  | (2,796) |
Amortization of prior service cost |  |  |  |  |  | 188 |  |  | 205 |
Amortization of net actuarial loss |  |  |  |  |  | 988 |  |  | 1,075 |
Net periodic benefit cost |  |  |  |  |  | $ | 4,300 |  |  | $ | 3,948 |
Retiree Health and Life Insurance Plans |  |  |  |
Service cost |  |  |  |  |  | $ | 39 |  |  | $ | 54 |
Interest cost |  |  |  |  |  | 237 |  |  | 250 |
Expected return on plan assets |  |  |  |  |  | (100) |  |  | (98) |
Amortization of prior service credit |  |  |  |  |  | 94 |  |  | 96 |
Amortization of net actuarial gain |  |  |  |  |  | (214) |  |  | (146) |
Net periodic benefit cost |  |  |  |  |  | $ | 56 |  |  | $ | 156 |
Contributions The Company made aggregate contributions of $4,223 and $3,989 to its defined benefit retirement and retiree health and life insurance plans during the three-month periods ended March 30, 2025 and March 31, 2024, respectively. The Company expects to make additional aggregate contributions of approximately $18,800 to its defined benefit retirement and retiree health and life insurance plans over the remainder of 2025.

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