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Postretirement Plans (Tables)

6 Months Ended

Jul. 11, 2020

Summary of Company's Balance Sheet Related Pension and Other Postretirement Benefit Plan

The following summarizes the company’s balance sheet related pension and other postretirement benefit plan accounts at July 11, 2020 compared to accounts at December 28, 2019 (amounts in thousands):

		July 11, 2020				December 28, 2019
Current liability		$	926			$	29,380
Noncurrent liability		$	14,280			$	14,328
Accumulated other comprehensive loss, net of tax		$	4,060			$	107,678

Summary of Total Cost and Employer Contributions

The total cost and employer contributions were as follows (amounts in thousands):

		For the Twelve Weeks Ended								For the Twenty-Eight Weeks Ended
		July 11, 2020				July 13, 2019				July 11, 2020				July 13, 2019
Total cost and employer contributions		$	6,593			$	6,370			$	15,222			$	14,873

Pension plans

Components of Net Periodic Benefit / Cost

The net periodic pension cost for the company’s plans include the following components (amounts in thousands):

		For the Twelve Weeks Ended								For the Twenty-Eight Weeks Ended
		July 11, 2020				July 13, 2019				July 11, 2020				July 13, 2019
Service cost		$	197			$	163			$	462			$	378
Interest cost			228				2,752				1,651				6,425
Expected return on plan assets			(415	)			(3,957	)			(3,104	)			(9,233	)
Settlement and curtailment loss			—				—				116,207				—
Amortization of prior service cost			13				89				88				208
Amortization of net loss			126				1,638				1,493				3,822
Total net periodic pension cost		$	149			$	685			$	116,797			$	1,600

Postretirement Benefit Plan

Components of Net Periodic Benefit / Cost

The net periodic postretirement expense for the company includes the following components (amounts in thousands):  

		For the Twelve Weeks Ended								For the Twenty-Eight Weeks Ended
		July 11, 2020				July 13, 2019				July 11, 2020				July 13, 2019
Service cost		$	65			$	65			$	152			$	153
Interest cost			46				69				106				160
Amortization of prior service credit			(1	)			(9	)			(2	)			(22	)
Amortization of net gain			(69	)			(63	)			(161	)			(149	)
Total net periodic postretirement cost		$	41			$	62			$	95			$	142

X

- Definition

Tabular disclosure of defined contribution pension plans or defined contribution other postretirement plans, separately for pension plans and other postretirement benefit plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

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X

- Definition

Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

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X

- Definition

Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

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