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Defined Benefit Pension Plans (Tables)

6 Months Ended

Jun. 30, 2023

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs

The Company has defined benefit plans covering employees of its Switzerland and Japan operations. The following table summarizes the components of net periodic pension cost recorded for the Company’s defined benefit pension plans (in thousands):

		Three Months Ended								Six Months Ended
		June 30, 2023				July 1, 2022				June 30, 2023				July 1, 2022
Service cost(1)		$	254			$	309			$	503			$	635
Interest cost(2)			90				21				177				41
Expected return on plan assets(2)			(91	)			(123	)			(178	)			(241	)
Prior service credit(2),(3)			(45	)			(46	)			(90	)			(91	)
Actuarial loss recognized in current period(2),(3)			(6	)			79				(13	)			176
Net periodic pension cost		$	202			$	240			$	399			$	520

(1)Recognized in selling general and administrative expenses on the Condensed Consolidated Statements of Income.

(2)Recognized in other expense, net on the Condensed Consolidated Statements of Income.

(3)Amounts reclassified from accumulated other comprehensive income (loss).

Schedule of Defined Benefit Plans Disclosures

The Company currently is not required to and does not make contributions to its Japan pension plan. The Company’s contributions to its Swiss pension plan are as follows (in thousands):

		Three Months Ended								Six Months Ended
		June 30, 2023				July 1, 2022				June 30, 2023				July 1, 2022
Employer contribution		$	245			$	220			$	462			$	436

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- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

+ References

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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 20
-Topic 715
-Publisher FASB
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Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

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