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EMPLOYEE BENEFIT PLANS (Tables)

9 Months Ended

Sep. 28, 2024

Retirement Benefits [Abstract]

Reconciliation of Changes in Projected Pension Benefit Obligation and Plan Assets

Presented below is the reconciliation of changes in the projected benefit obligation and plan assets as a result of this remeasurement and single-sum payment:

			For the period ended
(dollars in thousands)			August 31, 2024
Change in projected benefit obligation:
Projected benefit obligation at beginning of year			$	54,785
Interest cost			1,684
Actuarial gain			(2,345)
Benefits paid			(1,981)
Effect of settlement			(6,887)
Projected benefit obligation at end of period			$	45,256
Change in plan assets:
Fair value of plan assets at beginning of year			$	55,959
Actual return on plan assets			1,064
Benefits paid			(1,981)
Effect of settlement			(6,887)
Fair value of plan assets at end of period			$	48,155
Funded status			$	2,899

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- References

No definition available.

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- Definition

Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (a)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

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