XML 30 R20.htm IDEA: XBRL DOCUMENT
v3.25.2

Employee Benefit Plans | 6 Months Ended
--- | ---
Jun. 29, 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/(income) include the following:
|  | Three Months Ended |  | Six Months Ended
|  | June 29, 2025 |  | June 30, 2024 |  | June 29, 2025 |  | June 30, 2024
Retirement Plans |  |  |  |  |  |  |  |
Service cost |  | $ | 1,366 |  |  | $ | 535 |  |  | $ | 2,562 |  |  | $ | 1,290 |
Interest cost |  | 5,448 |  |  | 5,126 |  |  | 10,581 |  |  | 9,835 |
Expected return on plan assets |  | (3,420) |  |  | (2,776) |  |  | (6,625) |  |  | (5,572) |
Amortization of prior service cost |  | 209 |  |  | 235 |  |  | 397 |  |  | 440 |
Amortization of net actuarial loss |  | 899 |  |  | 1,169 |  |  | 1,887 |  |  | 2,244 |
Effect of settlement loss |  | — |  |  | 511 |  |  | — |  |  | 511 |
Net periodic benefit cost |  | $ | 4,502 |  |  | $ | 4,800 |  |  | $ | 8,802 |  |  | $ | 8,748 |
Retiree Health and Life Insurance Plans |  |  |  |
Service cost |  | $ | 27 |  |  | $ | 34 |  |  | $ | 66 |  |  | $ | 88 |
Interest cost |  | 216 |  |  | 207 |  |  | 453 |  |  | 457 |
Expected return on plan assets |  | (104) |  |  | (97) |  |  | (204) |  |  | (195) |
Amortization of prior service cost |  | 91 |  |  | 96 |  |  | 185 |  |  | 192 |
Amortization of net actuarial gain |  | (357) |  |  | (301) |  |  | (571) |  |  | (447) |
Net periodic benefit (income)/cost |  | $ | (127) |  |  | $ | (61) |  |  | $ | (71) |  |  | $ | 95 |
Settlement Charges The Company recognized settlement ch arges of $511 during the six-month period ended June 30, 2024. 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. Contributions The Company made aggregate contributions of $10,458 and $9,125 to its defined benefit retirement and retiree health and life insurance plans during the six-month periods ended June 29, 2025 and June 30, 2024, respectively. The Company expects to make additional aggregate contributions of approximately $11,700 to its defined benefit retirement and retiree health and life insurance plans over the remainder of 2025.

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for retirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (o) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (p) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (q) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 60 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480266/715-60-50-3 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 70 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480794/715-70-50-1 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480482/715-20-55-17 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(iv)(03) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/715/tableOfContent Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(iii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (r)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (r)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration