Defined Benefit Pension Plans

9 Months Ended

Sep. 30, 2022

Compensation And Retirement Disclosure [Abstract]

Defined Benefit Pension Plans

Note 10 – 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						Nine Months Ended
	September 30, 2022			October 1, 2021			September 30, 2022			October 1, 2021
Service cost(1)	$	306		$	326		$	941		$	1,003
Interest cost(2)		22			14			63			42
Expected return on plan assets(2)		(125	)		(99	)		(366	)		(299	)
Prior service credit(2),(3)		(44	)		(10	)		(135	)		(32	)
Actuarial loss recognized in current period(2),(3)		98			131			274			393
Net periodic pension cost	$	257		$	362		$	777		$	1,107

⁽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).

Note 10 – Defined Benefit Pension Plans (Continued)

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				Nine Months Ended
	September 30, 2022		October 1, 2021		September 30, 2022		October 1, 2021
Employer contribution	$	230	$	204	$	666	$	601