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Employee Benefit Plans
 9 Months Ended
Sep. 28, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Employee Benefit Plans
14. Employee Benefit Plans
Defined Benefit Plans
The Company has defined benefit pension and other long-term and postretirement benefit plans covering certain union and non-union employees, primarily in the U.S. and Canada. The defined benefit pension plans are closed to new participants. The liabilities for these plans are calculated using actuarial estimates and management assumptions. These estimates are based on historical information and certain assumptions about future events.
During the nine months ended September 28, 2024, the Company recorded a $1 million loss on pension curtailment charges associated with early retirements driven by the indefinite suspension of operations at the Temiscaming High Purity Cellulose plant. The loss on curtailment was recognized in “indefinite suspension charges” in the Company’s consolidated statements of operations. Additionally, the Company decreased its pension liability by $3 million. See Note 2—Indefinite Suspension of Operations for further information.
During the nine months ended September 30, 2023, the Company recorded a $2 million loss related to the final asset surplus distribution to the plan participants of certain wound-up Canadian pension plans. The settlement was recognized in “components of pension and OPEB, excluding service costs” in the Company’s consolidated statements of operations.
The following tables present the components of net periodic benefit costs of these plans:
PensionPostretirement
Three Months EndedThree Months Ended
September 28, 2024September 30, 2023September 28, 2024September 30, 2023
Service cost$1,440 $1,223 $138 $293 
Interest cost6,972 7,204 247 352 
Expected return on plan assets(7,987)(7,967)— — 
Amortization of prior service cost (credit)205 111 (24)(24)
Amortization of gain(11)(123)(185)(54)
Net periodic benefit cost$619 $448 $176 $567 
PensionPostretirement
Nine Months EndedNine Months Ended
September 28, 2024September 30, 2023September 28, 2024September 30, 2023
Service cost$4,504 $3,664 $414 $879 
Interest cost20,784 21,586 742 1,057 
Expected return on plan assets(24,115)(23,854)— — 
Amortization of prior service cost (credit)613 332 (73)(73)
Amortization of gain(33)(369)(554)(162)
Pension settlement loss— 2,317 — — 
Curtailment736 — — — 
Net periodic benefit cost$2,489 $3,676 $529 $1,701 
Service cost is included in “cost of sales” or “selling, general and administrative expense” in the consolidated statements of operations, as appropriate. Interest cost, expected return on plan assets, amortization of prior service cost (credit) and amortization of (gain) loss are included in “components of pension and OPEB, excluding service costs” in the consolidated statements of operations.