Pension Plans (Tables)

6 Months Ended

Jul. 02, 2021

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Schedule of Net Benefit Costs

Components of net pension cost for the Qualified Pension Plan and Supplemental Employees’ Retirement Plan ("SERP") were as follows:

	For the Three Months Ended
	Qualified Pension Plan				SERP
	July 2, 2021		July 3, 2020		July 2, 2021		July 3, 2020
In thousands
Service cost(1)	$	(649)	$	1,309	$	—	$	—
Interest cost on projected benefit obligation	3,558		5,255		14		42
Expected return on plan assets	(11,314)		(10,796)		—		—
Amortization of net loss	1,147		1,201		18		236
Net pension (income) cost	$	(7,258)	$	(3,031)	$	32	$	278

(1) In the second quarter, the Company elected to use the alternative method to calculate the Pension Benefit Guaranty Corporation premium. The change resulted in a $3.9 million decrease to the 2021 premium, which is included in the service cost. Due to this election and the reduction of the premium, the Company reversed $1.0 million of service cost in the three-month fiscal period ended July 2, 2021, which was previously incurred in the first quarter of 2021.

13. PENSION PLANS (CONTINUED)

	For the Six Months Ended
	Qualified Pension Plan				SERP
	July 2, 2021		July 3, 2020		July 2, 2021		July 3, 2020
In thousands
Service cost	$	651	$	2,618	$	—	$	—
Interest cost on projected benefit obligation	7,083		10,510		29		83
Expected return on plan assets	(22,589)		(21,592)		—		—
Amortization of net loss	2,222		2,402		35		472
Net pension (income) cost	$	(12,633)	$	(6,062)	$	64	$	555