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Employee Benefit Plans
6 Months Ended
Jul. 02, 2023
Retirement Benefits [Abstract]  
Employee Benefit Plans EMPLOYEE BENEFIT PLANS
During the three and six months ended July 2, 2023, the Company recorded multi-employer pension expense related to multi-employer contributions of $0.7 million and $1.3 million, respectively. 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.
The following tables provide the components of net periodic benefit cost for the three and six months ended July 2, 2023 and July 3, 2022:
Three Months EndedSix Months Ended
Defined Benefit Retirement Plans (Europe)
July 2, 2023July 3, 2022July 2, 2023July 3, 2022
(in thousands)
Interest cost$1,778 $857 $3,513 $1,773 
Expected return on plan assets(2,015)(990)(3,979)(2,049)
Amortization of prior service cost30 30 59 62 
Amortization of net actuarial losses228 256 451 531 
Net periodic benefit cost$21 $153 $44 $317 
Three Months EndedSix Months Ended
Salary Continuation PlanJuly 2, 2023July 3, 2022July 2, 2023July 3, 2022
(in thousands)
Interest cost$284 $193 $567 $386 
Amortization of net actuarial losses48 140 97 279 
Net periodic benefit cost$332 $333 $664 $665 
Three Months EndedSix Months Ended
nora Defined Benefit Plan
July 2, 2023July 3, 2022July 2, 2023July 3, 2022
(in thousands)
Service cost$115 $211 $229 $436 
Interest cost275 105 547 215 
Amortization of net actuarial (gains) losses(111)48 (220)98 
Net periodic benefit cost$279 $364 $556 $749 
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 (income) expense, net, in the consolidated condensed statements of operations.