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v3.23.1

Pension and retirement plan | 9 Months Ended
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Apr. 01, 2023
Pension and retirement plan |
Pension and retirement plans | 9. Pension plan ​ The Company has a noncontributory defined benefit pension plan that covers substantially all current or former U.S. employees (the “Plan”). Components of net periodic pension cost for the Plan was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Third Quarters Ended | ​ | Nine Months Ended
​ |  | April 1, |  | April 2, |  | April 1, |  | April 2,
​ | ​ | 2023 |  | 2022 |  | 2023 |  | 2022
​ | ​ | (Thousands)
Service cost | ​ | $ | 3,003 | ​ | $ | 3,752 | ​ | $ | 9,011 | ​ | $ | 11,255
Total net periodic pension cost within selling, general and administrative expenses | ​ | ​ | 3,003 | ​ | ​ | 3,752 | ​ | ​ | 9,011 | ​ | ​ | 11,255
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest cost | ​ |  | 6,682 | ​ |  | 3,947 | ​ |  | 20,047 | ​ |  | 11,841
Expected return on plan assets | ​ |  | (12,215) | ​ |  | (12,284) | ​ |  | (36,645) | ​ |  | (36,852)
Amortization of prior service cost | ​ |  | 1 | ​ |  | 1 | ​ |  | 3 | ​ |  | 3
Recognized net actuarial loss | ​ |  | 617 | ​ |  | 4,085 | ​ |  | 1,852 | ​ |  | 12,257
Total net periodic pension benefit within other income (expense), net | ​ | ​ | (4,915) | ​ | ​ | (4,251) | ​ | ​ | (14,743) | ​ | ​ | (12,751)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net periodic pension benefit | ​ | $ | (1,912) | ​ | $ | (499) | ​ | $ | (5,732) | ​ | $ | (1,496)
​ ​ The Company made $6.0 million of contributions during the first nine months of fiscal 2023 and expects to make additional contributions to the Plan of $2.0 million in the fourth quarter of fiscal 2023.

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