XML 37 R24.htm IDEA: XBRL DOCUMENT v3.20.2
Employee Benefit Plans
6 Months Ended
Jun. 28, 2020
Retirement Benefits [Abstract]  
Employee Benefit Plans Employee Benefit Plans
The Company has a qualified pension plan and postretirement healthcare benefit plans. The plans cover certain eligible employees and retirees of the Motorcycles segment. The Company also has unfunded supplemental employee retirement plan agreements (SERPA) with certain employees. Service cost is allocated among Selling, administrative and engineering expense, Motorcycles cost of goods sold and Inventories, net. Amounts capitalized in inventory are not significant. Non-service cost components of net periodic benefit cost are presented in Other income, net. Components of net periodic benefit cost for the Company's defined benefit plans were as follows (in thousands):
 Three months endedSix months ended
June 28,
2020
June 30,
2019
June 28,
2020
June 30,
2019
Pension and SERPA Benefits:
Service cost$6,806  $6,632  $13,612  $13,264  
Interest cost19,111  21,371  38,223  42,742  
Expected return on plan assets(33,764) (35,581) (67,528) (71,162) 
Amortization of unrecognized:
Prior service credit(272) (483) (544) (966) 
Net loss16,372  11,128  32,744  22,256  
Net periodic benefit cost$8,253  $3,067  $16,507  $6,134  
Postretirement Healthcare Benefits:
Service cost$1,202  $1,185  $2,403  $2,369  
Interest cost2,336  2,938  4,672  5,876  
Expected return on plan assets(3,467) (3,507) (6,934) (7,014) 
Amortization of unrecognized:
Prior service credit(595) (595) (1,190) (1,190) 
Net loss123  69  246  138  
Special retirement benefit cost—  1,583  —  1,583  
Curtailment gain—  (960) —  (960) 
Net periodic benefit cost$(401) $713  $(803) $802  
There are no required or planned qualified pension plan contributions for 2020. The Company expects it will continue to make ongoing benefit payments under the SERPA and postretirement healthcare plans.