Other Postretirement Benefits (Tables) - Other Postretirement Benefit Plans

12 Months Ended

Dec. 31, 2023

Other Postretirement Benefits

Schedule of Components of Net Periodic Postretirement Benefit Cost

The components of net periodic postretirement benefit cost were as follows:

(In thousands)	December 31, 2023		December 31, 2022		December 26, 2021
Service cost	$	33	$	46	$	53
Interest cost	1,500		731		565
Amortization and other costs	1,945		3,293		3,407
Amortization of prior service credit	—		(368)		(3,098)
Net periodic postretirement benefit cost	$	3,478	$	3,702	$	927

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)

The changes in the benefit obligations recognized in other comprehensive loss were as follows:

(In thousands)	December 31, 2023		December 31, 2022		December 26, 2021
Net actuarial (gain)/loss	$	(6,916)	$	(6,801)	$	2,254
Amortization of loss	(1,945)		(3,293)		(3,407)
Amortization of prior service credit	—		368		3,098
Total recognized in other comprehensive (income)/loss	(8,861)		(9,726)		1,945
Net periodic postretirement benefit cost	3,478		3,702		927
Total recognized in net periodic postretirement benefit cost and other comprehensive (income)/loss	$	(5,383)	$	(6,024)	$	2,872

Schedule of Changes in Projected Benefit Obligations and Plan Assets

The changes in the benefit obligation and plan assets and other amounts recognized in other comprehensive loss were as follows:

(In thousands)	December 31, 2023		December 31, 2022
Change in benefit obligation
Benefit obligation at beginning of year	$	30,696	$	40,607
Service cost	33		46
Interest cost	1,500		731
Plan participants’ contributions	2,060		2,271
Actuarial (gain)	(6,916)		(6,801)
Benefits paid	(4,461)		(6,158)
Benefit obligation at the end of year	22,912		30,696
Change in plan assets
Employer contributions	2,401		3,887
Plan participants’ contributions	2,060		2,271
Benefits paid	(4,461)		(6,158)
Fair value of plan assets at end of year	—		—
Net amount recognized	$	(22,912)	$	(30,696)
Amount recognized in the Consolidated Balance Sheets
Current liabilities	$	(3,510)	$	(4,241)
Noncurrent liabilities	(19,402)		(26,455)
Net amount recognized	$	(22,912)	$	(30,696)
Amount recognized in accumulated other comprehensive loss
Actuarial loss	$	6,676	$	15,537
Prior service credit	—		—
Total	$	6,676	$	15,537

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

Information for postretirement plans with accumulated benefit obligations in excess of plan assets was as follows:

(In thousands)	December 31, 2023		December 31, 2022
Accumulated benefit obligation	$	22,912	$	30,696
Fair value of plan assets	$	—	$	—

Schedule of Assumptions Used

Weighted-average assumptions used in the actuarial computations to determine the postretirement benefit obligations were as follows:

	December 31, 2023		December 31, 2022
Discount rate	5.16	%	5.55	%
Estimated increase in compensation level	3.50	%	3.50	%

Weighted-average assumptions used in the actuarial computations to determine net periodic postretirement cost were as follows:

	December 31, 2023		December 31, 2022		December 26, 2021
Discount rate for determining projected benefit obligation	5.55	%	2.55	%	2.01	%
Discount rate in effect for determining service cost	5.55	%	2.58	%	2.09	%
Discount rate in effect for determining interest cost	5.26	%	1.91	%	1.38	%
Estimated increase in compensation level	3.50	%	3.50	%	3.50	%

Schedule of Health Care Cost Trend Rates

The assumed health-care cost trend rates were as follows:

	December 31, 2023		December 31, 2022
Health-care cost trend rate	6.71	%	6.75	%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)	4.75	%	4.92	%
Year that the rate reaches the ultimate trend rate	2030		2030

Schedule of Expected Benefit Payments

The following benefit payments (net of plan participant contributions) under our Company’s postretirement plans, which reflect expected future services, are expected to be paid:

(In thousands)	Amount
2024	$	3,632
2025	3,198
2026	2,923
2027	2,669
2028	2,435
2029-2033(1)	8,820

(1)While benefit payments under these plans are expected to continue beyond 2033, we have presented in this table only those benefit payments estimated over the next 10 years.