Employee Benefits

6 Months Ended

Jul. 02, 2022

Employee Benefits

Employee Benefits

Note 5 – Employee Benefits

Seaboard has qualified defined benefit pension plans for its domestic salaried and clerical employees that were hired before January 1, 2014. Seaboard also sponsors non-qualified, unfunded supplemental executive plans.

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

	Three Months Ended				Six Months Ended
	July 2,		July 3,		July 2,		July 3,
(Millions of dollars)	2022		2021		2022		2021
Components of net periodic benefit cost:
Service cost	$	2	$	2	$	4	$	5
Interest cost		3		2		5		4
Expected return on plan assets		(4)		(3)		(7)		(6)
Amortization		1		3		3		5
Settlement loss recognized		—		3		—		3
Net periodic benefit cost	$	2	$	7	$	5	$	11