Employee Retirement Plans

3 Months Ended

Apr. 01, 2023

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
	Apr 1, 2023		Apr 2, 2022
Net Periodic Pension Benefit:
Interest cost	$	11,138	$	6,705
Expected return on assets	(14,219)		(19,956)
Amortization of net loss	7		965
Amortization of prior service cost	631		696
	$	(2,443)	$	(11,590)

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.