XML 25 R15.htm IDEA: XBRL DOCUMENT v3.22.2
Employee Benefit Plans
6 Months Ended
Jul. 03, 2022
Retirement Benefits [Abstract]  
Employee Benefit Plans EMPLOYEE BENEFIT PLANS
During the three and six months ended July 3, 2022, the Company recorded multi-employer pension expense related to multi-employer contributions of $0.6 million and $1.3 million, respectively. During the three and six months ended July 4, 2021, the Company recorded multi-employer pension expense related to multi-employer contributions of $0.7 million and $1.4 million, respectively.
The following tables provide the components of net periodic benefit cost for the three and six months ended July 3, 2022 and July 4, 2021:
Three Months EndedSix Months Ended
Defined Benefit Retirement Plans (Europe)
July 3, 2022July 4, 2021July 3, 2022July 4, 2021
(in thousands)
Interest cost$857 $579 $1,773 $1,151 
Expected return on plan assets(990)(860)(2,049)(1,709)
Amortization of prior service cost30 29 62 58 
Amortization of net actuarial losses256 409 531 813 
Net periodic benefit cost$153 $157 $317 $313 
Three Months EndedSix Months Ended
Salary Continuation PlanJuly 3, 2022July 4, 2021July 3, 2022July 4, 2021
(in thousands)
Interest cost$193 $177 $386 $353 
Amortization of net actuarial losses140 186 279 372 
Net periodic benefit cost$333 $363 $665 $725 
Three Months EndedSix Months Ended
nora Defined Benefit Plan
July 3, 2022July 4, 2021July 3, 2022July 4, 2021
(in thousands)
Service cost$211 $277 $436 $554 
Interest cost105 104 215 207 
Amortization of net actuarial losses48 92 98 184 
Net periodic benefit cost$364 $473 $749 $945 
In accordance with applicable accounting standards, the service cost component of net periodic benefit costs is presented within operating income in the consolidated condensed statements of operations, while all other components of net periodic benefit costs are presented within other expense, net, in the consolidated condensed statements of operations.