v3.26.1
Note 6 - Components of Net Periodic Benefit Related to Pension and Other Postretirement Benefit Plans
6 Months Ended
May 30, 2026
Notes to Financial Statements  
Retirement Benefits [Text Block]

Note 6: Components of Net Periodic Benefit related to Pension and Other Postretirement Benefit Plans

  

  

Three Months Ended May 30, 2026 and May 31, 2025

 
                  

Other

 
  

Pension Benefits

  

Postretirement

 
  

U.S. Plans

  

Non-U.S. Plans

  

Benefits

 

Net periodic (benefit) cost:

 

2026

  

2025

  

2026

  

2025

  

2026

  

2025

 

Service cost

 $-  $-  $322  $385  $-  $- 

Interest cost

  3,097   3,242   1,657   1,495   218   249 

Expected return on assets

  (5,782)  (5,717)  (1,831)  (1,685)  (3,801)  (3,484)

Amortization:

                        

Prior service cost

  -   -   30   29   -   - 

Actuarial loss (gain)

  1,895   1,953   482   490   (2,429)  (2,277)

Net periodic (benefit) cost

 $(790) $(522) $660  $714  $(6,012) $(5,512)

 

  

Six Months Ended May 30, 2026 and May 31, 2025

 
                  

Other

 
  

Pension Benefits

  

Postretirement

 
  

U.S. Plans

  

Non-U.S. Plans

  

Benefits

 

Net periodic (benefit) cost:

 

2026

  

2025

  

2026

  

2025

  

2026

  

2025

 

Service cost

 $-  $-  $645  $753  $-  $- 

Interest cost

  6,195   6,484   3,321   2,937   437   498 

Expected return on assets

  (11,565)  (11,434)  (3,669)  (3,309)  (7,603)  (6,968)

Amortization:

                        

Prior service cost

  -   -   61   56   -   - 

Actuarial loss (gain)

  3,789   3,906   966   965   (4,858)  (4,554)

Settlement charge

  -   -   123   -   -   - 

Net periodic (benefit) cost

 $(1,581) $(1,044) $1,447  $1,402  $(12,024) $(11,024)

 

Service cost is included with employee compensation cost in cost of sales and selling, general and administrative expenses in the Consolidated Statements of Income. The components of our net periodic defined benefit pension and postretirement benefit costs other than service cost are presented in other income, net in the Consolidated Statements of Income.