Defined Benefit Pension Plans

3 Months Ended

Apr. 01, 2022

Compensation And Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure

Note 9 – Defined Benefit Pension Plans

The Company has defined benefit plans covering employees of its Switzerland and Japan operations.  The following table summarizes the components of net periodic pension cost recorded for the Company’s defined benefit pension plans (in thousands):

	Three Months Ended
	April 1, 2022			April 2, 2021
Service cost(1)	$	326		$	348
Interest cost(2)		20			14
Expected return on plan assets(2)		(118	)		(99	)
Prior service credit(2),(3)		(45	)		(11	)
Actuarial loss recognized in current period(2),(3)		97			131
Net periodic pension cost	$	280		$	383

⁽¹⁾ Recognized in selling general and administrative expenses on the Condensed Consolidated Statements of Income.

⁽²⁾ Recognized in other expense, net on the Condensed Consolidated Statements of Income.

⁽³⁾ Amounts reclassified from accumulated other comprehensive income (loss).

The Company currently is not required to and does not make contributions to its Japan pension plan.  The Company’s contributions to its Swiss pension plan are as follows (in thousands):

	Three Months Ended
	April 1, 2022		April 2, 2021
Employer contribution	$	216	$	193