XML 53 R46.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Postretirement Plans (Tables) | 6 Months Ended
--- | ---
Jul. 13, 2024
Summary of Company's Condensed Consolidated Balance Sheets Related Pension and Other Postretirement Benefit Plan | The following summarizes the company’s Condensed Consolidated Balance Sheets related pension and other postretirement benefit plan accounts at July 13, 2024 compared to accounts at December 30, 2023 (amounts in thousands):
|  | July 13, 2024 |  |  | December 30, 2023 |
Noncurrent benefit asset |  | $ | 6,379 |  |  | $ | 6,494 |
Current benefit liability |  | $ | 699 |  |  | $ | 699 |
Noncurrent benefit liability |  | $ | 5,567 |  |  | $ | 5,798 |
AOCI, net of tax |  | $ | (469 | ) |  | $ | (342 | )
Summary of Total Cost and Employer Contributions | The Flowers Foods, Inc. 401(k) Retirement Savings Plan covers substantially all the company’s employees who have completed certain service requirements. The total cost and employer contributions were as follows (amounts in thousands):
|  | For the Twelve Weeks Ended |  |  | For the Twenty-Eight Weeks Ended |
|  | July 13, 2024 |  |  | July 15, 2023 |  |  | July 13, 2024 |  |  | July 15, 2023 |
Total cost and employer contributions |  | $ | 7,597 |  |  | $ | 7,094 |  |  | $ | 18,117 |  |  | $ | 17,069 |
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 13, 2024 |  |  | July 15, 2023 |  |  | July 13, 2024 |  |  | July 15, 2023 |
Service cost |  | $ | 168 |  |  | $ | 157 |  |  | $ | 392 |  |  | $ | 367 |
Interest cost |  |  | 272 |  |  |  | 301 |  |  |  | 634 |  |  |  | 702 |
Expected return on plan assets |  |  | (370 | ) |  |  | (360 | ) |  |  | (864 | ) |  |  | (840 | )
Amortization of prior service cost |  |  | 13 |  |  |  | 13 |  |  |  | 31 |  |  |  | 31 |
Amortization of net loss |  |  | 10 |  |  |  | 40 |  |  |  | 23 |  |  |  | 93 |
Total net periodic pension cost |  | $ | 93 |  |  | $ | 151 |  |  | $ | 216 |  |  | $ | 353 |
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 13, 2024 |  |  | July 15, 2023 |  |  | July 13, 2024 |  |  | July 15, 2023 |
Service cost |  | $ | 42 |  |  | $ | 41 |  |  | $ | 98 |  |  | $ | 96 |
Interest cost |  |  | 53 |  |  |  | 55 |  |  |  | 123 |  |  |  | 128 |
Amortization of prior service credit |  |  | (54 | ) |  |  | (54 | ) |  |  | (126 | ) |  |  | (126 | )
Amortization of net gain |  |  | (42 | ) |  |  | (57 | ) |  |  | (97 | ) |  |  | (133 | )
Total net periodic postretirement credit |  | $ | (1 | ) |  | $ | (15 | ) |  | $ | (2 | ) |  | $ | (35 | )

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 -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480794/715-70-50-1 + Details
Name: | us-gaap_DefinedContributionPlanDisclosuresTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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 -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 20 -Topic 715 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfCostsOfRetirementPlansTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_RetirementPlanTypeAxis=us-gaap_PensionPlansDefinedBenefitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RetirementPlanTypeAxis=us-gaap_OtherPostretirementBenefitPlansDefinedBenefitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |