Employee Benefits

9 Months Ended

Oct. 01, 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				Nine Months Ended
	October 1,		October 2,		October 1,		October 2,
(Millions of dollars)	2022		2021		2022		2021
Components of net periodic benefit cost:
Service cost	$	3	$	3	$	7	$	8
Interest cost		2		3		7		7
Expected return on plan assets		(3)		(3)		(10)		(9)
Amortization		1		2		4		7
Settlement loss recognized		—		—		—		3
Net periodic benefit cost	$	3	$	5	$	8	$	16