v3.25.2
Pensions and Other Postretirement Benefits
 6 Months Ended
Jun. 28, 2025
Pensions and Other Postretirement Benefits [Abstract]  
Pensions and Other Postretirement Benefits
Note 9 – Pensions and Other Postretirement Benefits

The Company maintains various retirement benefit plans.  The service cost component of net periodic pension cost is classified in costs of products sold or selling, general, and administrative expenses on the consolidated condensed statements of operations based on the respective employee's function.  The other components of net periodic pension cost are classified as other expense on the consolidated condensed statements of operations.

Defined Benefit Pension Plans

The following table shows the components of the net periodic pension cost for the second fiscal quarters of 2025 and 2024 for the Company’s defined benefit pension plans:

 
Fiscal quarter ended
June 28, 2025
    
Fiscal quarter ended
June 29, 2024
  
   
U.S. Plans
    
Non-U.S.
Plans
    
U.S. Plans
    
Non-U.S.
Plans
  
                         
Net service cost
  
$
-
    
$
765
    
$
-
    
$
776
  
Interest cost
    
380
      
1,582
      
382
      
1,664
  
Expected return on plan assets
    
-
      
(560
)
    
-
      
(582
)
Amortization of prior service cost
    
1
      
36
      
17
      
57
  
Amortization of losses (gains)
    
-
   
258
      
(109
)
    
453
  
Curtailment and settlement losses
    
-
      
24
      
-
      
101
  
Net periodic benefit cost
  
$
381
    
$
2,105
    
$
290
    
$
2,469
  

The following table shows the components of the net periodic pension cost for the six fiscal months ended June 28, 2025 and June 29, 2024 for the Company’s defined benefit pension plans:

 
Six fiscal months ended
June 28, 2025
    
Six fiscal months ended
June 29, 2024
  
   
U.S. Plans
    
Non-U.S.
Plans
    
U.S. Plans
    
Non-U.S.
Plans
  
                         
Net service cost
  
$
-
    
$
1,494
    
$
-
    
$
1,566
  
Interest cost
    
760
      
3,070
      
763
      
3,350
  
Expected return on plan assets
    
-
      
(1,100
)
    
-
      
(1,178
)
Amortization of prior service cost
    
2
      
70
      
33
      
114
  
Amortization of losses (gains)
    
-
   
500
      
(217
)
    
910
  
Curtailment and settlement losses
    
-
      
47
      
-
      
206
  
Net periodic benefit cost
  
$
762
    
$
4,081
    
$
579
    
$
4,968
  


Other Postretirement Benefits

The following table shows the components of the net periodic benefit cost for the second fiscal quarters of 2025 and 2024 for the Company’s other postretirement benefit plans:

 
Fiscal quarter ended
June 28, 2025
  
Fiscal quarter ended
June 29, 2024
  
 
U.S. Plans
  
Non-U.S.
Plans
  
U.S. Plans
  
Non-U.S.
Plans
  
                 
Service cost
  
$
5
    
$
60
    
$
5
    
$
60
  
Interest cost
    
50
      
60
      
52
      
61
  
Amortization of losses (gains)
    
(52
)
    
15
      
(60
)
    
20
  
Net periodic benefit cost
  
$
3
 
$
135
    
$
(3
)
  
$
141
  

The following table shows the components of the net periodic pension cost for the six fiscal months ended June 28, 2025 and June 29, 2024 for the Company’s other postretirement benefit plans:

Six fiscal months ended
June 28, 2025
  
Six fiscal months ended
June 29, 2024
  
 
U.S. Plans
  
Non-U.S.
Plans
  
U.S. Plans
  
Non-U.S.
Plans
  
                 
Service cost
  
$
10
    
$
115
    
$
10
    
$
120
  
Interest cost
    
101
      
116
      
105
      
122
  
Amortization of losses (gains)
    
(104
)
    
29
      
(120
)
    
41
  
Net periodic benefit cost
  
$
7
 
$
260
    
$
(5
)
  
$
283