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Employee Benefit Plans
3 Months Ended
Mar. 28, 2021
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 ended
March 28,
2021
March 29,
2020
Pension and SERPA Benefits:
Service cost$6,348 $6,806 
Interest cost15,470 19,112 
Expected return on plan assets(32,720)(33,764)
Amortization of unrecognized:
Prior service credit(312)(272)
Net loss18,386 16,372 
Settlement loss816 — 
Net periodic benefit cost$7,988 $8,254 
Postretirement Healthcare Benefits:
Service cost$1,288 $1,201 
Interest cost1,626 2,336 
Expected return on plan assets(3,495)(3,467)
Amortization of unrecognized:
Prior service credit(581)(595)
Net loss264 123 
Net periodic benefit cost$(898)$(402)
There are no required or planned voluntary qualified pension plan contributions for 2021. The Company expects it will continue to make ongoing benefit payments under the SERPA and postretirement healthcare plans.