Employee Benefit Plans

9 Months Ended

Sep. 26, 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				Nine months ended
	September 26, 2021		September 27, 2020		September 26, 2021		September 27, 2020
Pension and SERPA Benefits:
Service cost	$	6,348	$	6,806	$	19,044	$	20,418
Interest cost	15,472		19,112		46,412		57,335
Expected return on plan assets	(32,720)		(33,764)		(98,160)		(101,292)
Amortization of unrecognized:
Prior service credit	(312)		(272)		(936)		(816)
Net loss	18,386		16,372		55,158		49,116
Settlement loss	—		—		816		—
Net periodic benefit cost	$	7,174	$	8,254	$	22,334	$	24,761
Postretirement Healthcare Benefits:
Service cost	$	1,288	$	1,202	$	3,864	$	3,605
Interest cost	1,626		2,336		4,878		7,008
Expected return on plan assets	(3,495)		(3,467)		(10,485)		(10,401)
Amortization of unrecognized:
Prior service credit	(581)		(595)		(1,743)		(1,785)
Net loss	264		123		792		369
Net periodic benefit cost	$	(898)	$	(401)	$	(2,694)	$	(1,204)

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.