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Postretirement and Postemployment Benefits (Tables)
12 Months Ended
Sep. 28, 2025
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Schedule of Net Periodic Pension and Postretirement Cost (Benefit) Components
The net periodic (benefit) cost components of our pension plan is as follows:
(Thousands of Dollars)202520242023
Service cost for benefits earned during the year519 
Interest cost on projected benefit obligation8,1379,274 10,368 
Expected return on plan assets(9,275)(9,382)(10,192)
Amortization of net (gain) loss(4)10 
Amortization of prior service benefit848848 852 
Settlement gain(2,409)— 
Curtailment gain— — 
Net periodic pension cost (benefit)(285)(1,668)1,057 
The net periodic postretirement benefit cost (benefit) components for our postretirement plans are as follows:
(Thousands of Dollars)202520242023
Service cost for benefits earned during the year50 68 
Interest cost on projected benefit obligation434 596 598 
Expected return on plan assets(1,641)(1,279)(1,182)
Amortization of net actuarial gain(1,168)(1,234)(1,014)
Amortization of prior service benefit(285)(375)(647)
Curtailment gain— (1,184)— 
Net periodic postretirement benefit(2,658)(3,426)(2,177)
Changes in Benefit Obligations and Plan Assets
(Thousands of Dollars)20252024
Benefit obligation, beginning of year188,528 199,187 
Service cost
Interest cost8,137 9,274 
Actuarial loss (gain)(7,491)15,703 
Benefits paid(13,655)(13,021)
Settlements— (22,620)
Benefit obligation, end of year175,524 188,528 
Fair value of plan assets, beginning of year:193,192 210,031 
Actual return on plan assets8,285 19,957 
Benefits paid(13,655)(13,021)
Administrative expenses paid(1,470)(1,155)
Settlements— (22,620)
Fair value of plan assets, end of year186,352 193,192 
Funded status10,828 4,664 
Changes in projected benefit obligations (which approximates the accumulated benefit obligation at each period end) and plan assets are as follows:
(Thousands of Dollars)20252024
Benefit obligation, beginning of year10,217 11,252 
Service cost50 
Interest cost434 596 
Actuarial (gain) loss(2,290)1,215 
Benefits paid, net of premiums received(732)(1,712)
Liability (gain)/loss due to curtailment— (1,184)
Benefit obligation, end of year7,631 10,217 
Fair value of plan assets, beginning of year27,570 25,809 
Actual return on plan assets(1,157)2,615 
Employer contributions603 858 
Benefits paid, net of premiums and Medicare Part D subsidies received(732)(1,712)
Plan participant contributions— — 
Fair value of plan assets at measurement date26,284 27,570 
Funded status18,653 17,353 
Schedule of Amounts Recognized in Balance Sheet
Disaggregated amounts recognized in the Consolidated Balance Sheets are as follows:
(Thousands of Dollars)September 28
2025
September 29
2024
Net pension assets10,828 4,664 
Accumulated other comprehensive income (before income taxes)14,683 8,804 
Disaggregated amounts recognized in the Consolidated Balance Sheets are as follows:
(Thousands of Dollars)September 28
2025
September 29
2024
Non-current assets22,407 23,300 
Postretirement benefit obligations(3,755)(5,947)
Accumulated other comprehensive income (before income tax benefit)15,594 17,556 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
Amounts recognized in accumulated other comprehensive (loss) income are as follows:
(Thousands of Dollars)September 28
2025
September 29
2024
Unrecognized net actuarial gain17,581 12,550 
Unrecognized prior service cost(2,898)(3,746)
14,683 8,804 
Amounts recognized in accumulated other comprehensive income (loss) before income tax benefit are as follows:
(Thousands of Dollars)September 28
2025
September 29
2024
Unrecognized net actuarial gain13,872 15,548 
Unrecognized prior service benefit1,722 2,008 
15,594 17,556 
Defined Benefit Plan, Assumptions
Weighted-average assumptions used to determine benefit obligations are as follows:
(Percent)September 28
2025
September 29
2024
Discount rate5.2 4.8 
Interest crediting rate2.5 2.5 
Weighted-average assumptions used to determine net periodic benefit cost are as follows:
(Percent)202520242023
Discount rate - service cost5.0 5.8 5.8 
Discount rate - interest cost4.5 5.5 5.7 
Expected long-term return on plan assets5.0 5.0 5.0 
Weighted-average assumptions used to determine postretirement benefit obligations are as follows:
(Percent)September 28
2025
September 29
2024
Discount rate5.0 4.6 
Expected long-term return on plan assets6.0 5.0 
The assumptions related to the expected long-term return on plan assets are developed through an analysis of historical market returns, current market conditions, and composition of plan assets.
Weighted-average assumptions used to determine net periodic benefit cost are as follows:
(Percent)202520242023
Discount rate - service cost5.2 5.2 5.9 
Discount rate - interest cost4.4 4.4 5.5 
Expected long-term return on plan assets6.0 5.0 5.0 
Schedule of Health Care Cost Trend Rates
Assumed health care cost trend rates are as follows:
(Percent)September 28
2025
September 29
2024
Health care cost trend rates12.7 18.9 
Rate to which the cost trend rate is assumed to decline (the “Ultimate Trend Rate”)4.5 4.5 
Year in which the rate reaches the Ultimate Trend Rate20342034
Schedule of Allocation of Plan Assets
The weighted-average asset allocation of our pension assets, is as follows:
(Percent)Policy AllocationActual Allocation
Asset ClassSeptember 28
2025
September 29
2024
September 28
2025
September 29
2024
Fixed Income100 100 — 95 
Common/collective funds— — 97 — 
Debt securities— — — — 
Hedge fund investments— — 
Cash and cash equivalents— — 
The weighted-average asset allocation of our postretirement assets is as follows:
(Percent)Policy AllocationActual Allocation
Asset ClassSeptember 28 2025September 29
2024
September 28
2025
September 29
2024
Equity securities- short term bond fund25 25 99 25 
Fixed income securities75 75 — 73 
Hedge fund investment— — — 
Cash and cash equivalents— — — 
Schedule of Changes in Fair Value of Plan Assets
The fair value hierarchy of pension assets at September 28, 2025 is as follows:
(Thousands of Dollars)NAVLevel 1Level 2Level 3
Cash and cash equivalents— 3,261 — — 
Common/collective funds181,168 — — — 
Hedge fund investments1,934 — — — 
The fair value hierarchy of pension assets at September 29, 2024 was as follows:
(Thousands of Dollars)NAVLevel 1Level 2Level 3
Cash and cash equivalents3,191
Fixed income securities5,043179,042 
Hedge fund investments5,931
The fair value hierarchy of postretirement assets at September 28, 2025 is as follows:
(Thousands of Dollars)NAVLevel 1Level 2Level 3
Cash and cash equivalents— 43 — — 
Equity securities (including short term bond fund)
— 26,482 — — 
Hedge fund investment213 — — — 
The fair value hierarchy of postretirement assets at September 29, 2024 is as follows:
(Thousands of Dollars)NAVLevel 1Level 2Level 3
Cash and cash equivalents— 436 — — 
Equity securities— 6,983 — — 
Fixed income securities— 20,392 — — 
Hedge fund investment236 — — — 
Schedule of Expected Benefit Payments
We anticipate future benefit payments to be paid from the pension trust as follows:
(Thousands of Dollars)
202614,094 
202714,368 
202814,237 
202914,083 
203013,877 
Thereafter64,868 
We anticipate future benefit payments to be paid either with future contributions to the plan or directly from plan assets, as follows:
(Thousands of Dollars)Net
Payments
2026695
2027703
2028708
2029706
2030700
Thereafter3,196