Employee Retirement Plans

6 Months Ended

Jul. 02, 2022

Employee Retirement Plans [Abstract]

Employee Retirement Plans

Employee Retirement Plans

The following table summarizes the company's net periodic pension benefit related to the AGA Group pension plans (in thousands):

	Three Months Ended				Six Months Ended
	Jul 2, 2022		Jul 3, 2021		Jul 2, 2022		Jul 3, 2021
Net Periodic Pension Benefit:
Service cost	$	—	$	196	$	—	$	390
Interest cost	6,281		4,350		12,986		8,640
Expected return on assets	(18,694)		(19,804)		(38,650)		(39,335)
Amortization of net loss (gain)	904		3,196		1,869		6,348
Amortization of prior service cost (credit)	653		726		1,349		1,442
	$	(10,856)	$	(11,336)	$	(22,446)	$	(22,515)

The pension costs for all other plans of the company were not material during the period. The service cost component is recognized within Selling, general and administrative expenses and the non-operating components of pension benefit are included within Net periodic pension benefit (other than service cost) in the Condensed Consolidated Statements of Comprehensive Income.