PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS

3 Months Ended

Mar. 28, 2020

Retirement Benefits [Abstract]

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS

The following table provides the components of net periodic cost for the Company’s pension, deferred compensation and executive supplemental life insurance retirement plans:

	Three Months Ended
	March 28, 2020		March 30, 2019
	(in thousands)
Service cost	$	797	$	630
Interest cost	2,355		2,875
Expected return on plan assets	(2,981)		(3,235)
Amortization of prior service cost (credit)	(125)		91
Amortization of net loss	1,586		489
Other adjustments	125		—
Net periodic cost	$	1,757	$	850

Service cost is recorded as an operating expense within the accompanying unaudited condensed consolidated statements of income. All other components of net periodic costs are recorded in Other expense, net in the accompanying unaudited condensed consolidated statements of income. The net periodic cost for the Company’s other post-retirement benefit plan for the three months ended March 28, 2020 and March 30, 2019 was not significant.