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Defined Contribution Plans | 12 Months Ended
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Jul. 02, 2023
Retirement Benefits [Abstract] |
Defined Contribution Plans | 17. Defined Contribution Plans 401(k) Plan UNIFI matches employee contributions made to the Unifi, Inc. Retirement Savings Plan (the “401(k) Plan”), a 401(k) defined contribution plan, which covers eligible U.S. salary and hourly employees. Under the terms of the 401(k) Plan, UNIFI matches 100% of the first 3% of eligible employee contributions and 50% of the next 2% of eligible contributions. The following table presents the employer matching contribution expense related to the 401(k) Plan:
|  | Fiscal 2023 |  |  | Fiscal 2022 |  |  | Fiscal 2021 |
Matching contribution expense |  | $ | 2,967 |  |  | $ | 3,215 |  |  | $ | 2,578 |
Non-qualified Deferred Compensation Plan The UNIFI, Inc. Deferred Compensation Plan (the “DCP”), established in fiscal 2022, is an unfunded non-qualified deferred compensation plan in which certain key employees are eligible to participate. Under the DCP, participants may elect to defer all or a portion of their annual cash incentive compensation to their account. The deferred amounts are paid in accordance with each participant’s elections. In addition to elective deferrals, the DCP assumed the obligations of the Unifi, Inc. Supplemental Key Employee Retirement Plan (the “SERP”), which includes amounts credited to eligible employees’ accounts based on a percentage of their annual base compensation. Amounts due within the next operating cycle are reflected in Other current liabilities and the remaining DCP obligation is reflected in Other long-term liabilities. The total DCP obligation as of July 2, 2023 and July 3, 2022 was $2,669 and $2,359, respectively.

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