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Employee Benefit Plans
9 Months Ended
Sep. 28, 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 EndedNine Months Ended
September 28, 2025September 29, 2024September 28, 2025September 29, 2024
Retirement Plans
Service cost$1,327 $1,233 $3,889 $2,523 
Interest cost5,404 4,340 15,985 14,175 
Expected return on plan assets(3,462)(2,740)(10,087)(8,312)
Amortization of prior service cost203 220 600 660 
Amortization of net actuarial loss979 1,106 2,866 3,350 
Effect of settlement loss— 18 — 529 
Net periodic benefit cost$4,451 $4,177 $13,253 $12,925 
Retiree Health and Life Insurance Plans
Service cost$33 $45 $99 $133 
Interest cost229 228 682 685 
Expected return on plan assets(103)(97)(307)(292)
Amortization of prior service cost93 95 278 287 
Amortization of net actuarial gain(289)(223)(860)(670)
Net periodic benefit (income)/cost$(37)$48 $(108)$143 
Settlement Charges
The Company recognized settlement charges of $18 and $529 during the three- and nine-month periods ended September 29, 2024, respectively. 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 $16,734 and $14,680 to its defined benefit retirement and retiree health and life insurance plans during the nine-month periods ended September 28, 2025 and September 29, 2024, respectively. The Company expects to make additional aggregate contributions of approximately $6,200 to its defined benefit retirement and retiree health and life insurance plans over the remainder of 2025.