Employee Benefits

6 Months Ended

Jun. 27, 2020

Employee Benefits

Employee Benefits

Note 5 – Employee Benefits

Seaboard has a defined benefit pension plan for certain domestic salaried and clerical employees. At this time, no contributions are expected to be made to the plan in 2020. Seaboard also sponsors non-qualified, unfunded supplemental executive plans, and has certain individual, non-qualified, unfunded supplemental retirement agreements for certain retired employees. Management has no plans to provide funding for these supplemental plans in advance of when the benefits are paid.

The net periodic benefit cost for all of these plans was as follows:

	Three Months Ended				Six Months Ended
	June 27,		June 29,		June 27,		June 29,
(Millions of dollars)	2020		2019		2020		2019
Components of net periodic benefit cost:
Service cost	$	2	$	2	$	5	$	4
Interest cost		3		3		6		6
Expected return on plan assets		(3)		(3)		(6)		(5)
Amortization and other		3		3		6		4
Net periodic benefit cost	$	5	$	5	$	11	$	9