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Pension and Post-Retirement Benefit Plans
 9 Months Ended
Sep. 25, 2021
Retirement Benefits [Abstract]  
Pension and Post-Retirement Benefit Plans Pension and Post-Retirement Benefit Plans
As a result of the Acquisition, the Company acquired a number of post-employment plans in Germany, as well as a number of smaller post-employment plans in other countries, including both defined contribution and defined benefit plans. The defined benefit plans expose the Company to actuarial risks such as investment risk, interest rate risk, life expectancy risk and salary risk. The characteristics of the defined benefit plans and the risks associated with them vary depending on legal, fiscal and economic requirements.
Components of Net Periodic Benefit Cost
Net periodic benefit cost for the Company's pension and other post-retirement benefit plans consisted of the following (in thousands):
Three Months EndedNine Months Ended
September 25, 2021September 26, 2020September 25, 2021September 26, 2020
Service cost$112 $210 $341 $760 
Interest cost315 478 960 1,294 
Expected return on plan assets(721)(624)(2,198)(1,848)
Amortization of actuarial loss844 536 2,569 1,454 
Total net periodic benefit cost$550 $600 $1,672 $1,660 
The components of net periodic benefit costs other than the service cost component are included in other gain(loss), net, in the Company’s condensed consolidated statements of operations.
Actuarial gains and losses are amortized using a corridor approach. The gain/loss corridor is equal to 10% of the greater of the pension benefit obligation and the market-related value of assets. Gains and losses in excess of the corridor are generally amortized over the average future working lifetime of the pension plan participants.