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Retirement Plans
 6 Months Ended
Jul. 02, 2023
Retirement Benefits [Abstract]  
Retirement Plans RETIREMENT PLANS
We provide retirement benefits to eligible employees through a variety of plans:
•Defined contribution
•Defined benefit
◦Pension (qualified and non-qualified)
◦Other post-retirement benefit
For our defined benefit plans, net periodic benefit cost (credit) for the three- and six-month periods ended July 2, 2023, and July 3, 2022, consisted of the following:
Pension BenefitsOther Post-retirement Benefits
Three Months EndedJuly 2, 2023July 3, 2022July 2, 2023July 3, 2022
Service cost$16 $26 $1 $2 
Interest cost162 100 8 5 
Expected return on plan assets(208)(227)(8)(8)
Net actuarial loss (gain)184 53 (8)(5)
Prior service (credit) cost(3)(5)— 1 
Net periodic benefit cost (credit)$151 $(53)$(7)$(5)
Six Months Ended
Service cost$33 $52 $2 $3 
Interest cost325 200 15 10 
Expected return on plan assets(415)(455)(16)(16)
Net actuarial loss (gain)367 107 (16)(9)
Prior service (credit) cost(7)(10)1 1 
Net periodic benefit cost (credit)$303 $(106)$(14)$(11)
Our contractual arrangements with the U.S. government provide for the recovery of pension and other post-retirement benefit costs related to employees working on government contracts. The amount allocated to U.S. government contracts is determined in accordance with the Federal Acquisition Regulation (FAR) and Cost Accounting Standards (CAS), which may result in a timing difference with the amount determined under GAAP. We defer this difference on the Consolidated Balance Sheet. At this time, the amount allocated to contracts exceeds cumulative benefit costs, resulting in a deferred credit that is reported in other noncurrent liabilities. To the extent there is a non-service component of net periodic benefit cost (credit) for our defined benefit plans, it is reported in other income (expense) in the Consolidated Statement of Earnings.