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Employee Benefit Plans
9 Months Ended
Oct. 01, 2022
Retirement Benefits [Abstract]  
Employee Benefit Plans Employee Benefit Plans
The components of net periodic benefit (income) cost for the Company’s defined benefit plans and other post-employment benefit plans (“OPEB”) are as follows (in thousands):
SuccessorPredecessor
Defined Benefit PlansPeriod from
July 25, 2022
through
October 1, 2022
Period from
July 3, 2022
through
July 24, 2022
Period from
July 4, 2021
through
October 2, 2021
Period from
January 1, 2022
through
July 24, 2022
Period from
January 1, 2021
through
October 2, 2021
Service cost$— $$14 $25 $41 
Interest cost541 165 635 1,503 1,906 
Expected return on assets(568)(285)(1,360)(2,601)(4,079)
Amortization of prior service cost— — 17 — 49 
Amortization of net actuarial loss— 12 104 112 312 
Net periodic benefit income$(27)$(105)$(590)$(961)$(1,771)
 SuccessorPredecessor
OPEB PlanPeriod from
July 25, 2022
through
October 1, 2022
Period from
July 3, 2022
through
July 24, 2022
Period from
July 4, 2021
through
October 2, 2021
Period from
January 1, 2022
through
July 24, 2022
Period from
January 1, 2021
through
October 2, 2021
Service cost$— $— $$$13 
Interest cost— — 44 89 133 
Amortization of net actuarial loss— — 18 27 53 
Net periodic benefit cost$— $— $66 $124 $199 
The Company is not required to make contributions to the defined benefit plans in fiscal 2022.
In connection with the sale of the coil coatings business on June 28, 2022, the Company transferred two defined benefit plans and the OPEB plan. The two defined benefit plans had benefit obligations totaling $13.8 million and plan assets totaling $18.4 million at December 31, 2021.