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Postretirement Plans (Tables) | 4 Months Ended
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Apr. 23, 2022
Summary of Company's Condensed Balance Sheet Related Pension and Other Postretirement Benefit Plan | The following summarizes the company’s Condensed Balance Sheet related pension and other postretirement benefit plan accounts at April 23, 2022 compared to accounts at January 1, 2022 (amounts in thousands):
|  | April 23, 2022 |  |  | January 1, 2022 |
Noncurrent benefit asset |  | $ | 1,233 |  |  | $ | 1,281 |
Current benefit liability |  | $ | 804 |  |  | $ | 804 |
Noncurrent benefit liability |  | $ | 7,134 |  |  | $ | 7,249 |
AOCI, net of tax |  | $ | (3,431 | ) |  | $ | (3,456 | )
Summary of Total Cost and Employer Contributions | The total cost and employer contributions were as follows (amounts in thousands):
|  | For the Sixteen Weeks Ended |
|  | April 23, 2022 |  |  | April 24, 2021 |
Total cost and employer contributions |  | $ | 9,406 |  |  | $ | 9,136 |
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 Sixteen Weeks Ended |
|  | April 23, 2022 |  |  | April 24, 2021 |
Service cost |  | $ | 366 |  |  | $ | 299 |
Interest cost |  |  | 272 |  |  |  | 233 |
Expected return on plan assets |  |  | (577 | ) |  |  | (575 | )
Amortization of prior service cost |  |  | 17 |  |  |  | 18 |
Amortization of net loss |  |  | 142 |  |  |  | 229 |
Total net periodic pension cost |  | $ | 220 |  |  | $ | 204 |
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 Sixteen Weeks Ended |
|  | April 23, 2022 |  |  | April 24, 2021 |
Service cost |  | $ | 66 |  |  | $ | 103 |
Interest cost |  |  | 34 |  |  |  | 36 |
Amortization of prior service credit |  |  | (72 | ) |  |  | (1 | )
Amortization of net gain |  |  | (54 | ) |  |  | (65 | )
Total net periodic postretirement cost |  | $ | (26 | ) |  | $ | 73 |

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- 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 + Details
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- 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=123447040&loc=d3e1928-114920 + Details
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- 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=123447040&loc=d3e1928-114920 + Details
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