v3.26.1
Defined Benefit Pension Plans
 6 Months Ended
Jul. 03, 2026
Retirement Benefits [Abstract]  
Defined Benefit Pension Plans

Note 10 — Defined Benefit Pension Plans

The Company has defined benefit plans covering employees of its Switzerland and Japan operations. The following table summarizes the components of net periodic pension cost recorded for the Company’s defined benefit pension plans (in thousands):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

July 3, 2026

 

 

June 27, 2025

 

 

July 3, 2026

 

 

June 27, 2025

 

Service cost(1)

 

$

451

 

 

$

436

 

 

$

907

 

 

$

840

 

Interest cost(2)

 

 

94

 

 

 

63

 

 

 

186

 

 

 

125

 

Expected return on plan assets(2)

 

 

(169

)

 

 

(139

)

 

 

(332

)

 

 

(274

)

Prior service credit(2),(3)

 

 

(55

)

 

 

(53

)

 

 

(110

)

 

 

(106

)

Settlement gain(2),(3)

 

 

—

 

 

 

(4

)

 

 

—

 

 

 

(8

)

Actuarial loss recognized in current period(2),(3)

 

 

49

 

 

 

73

 

 

 

98

 

 

 

146

 

Net periodic pension cost

 

$

370

 

 

$

376

 

 

$

749

 

 

$

723

 

 

(1)
Recognized in selling general and administrative expenses on the Condensed Consolidated Statements of Operations.
(2)
Recognized in other income, net on the Condensed Consolidated Statements of Operations.
(3)
Amounts reclassified from accumulated other comprehensive income (loss).

The Company currently is not required to and does not make contributions to its Japan pension plan. The Company’s contributions to its Swiss pension plan are as follows (in thousands):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

July 3, 2026

 

 

June 27, 2025

 

 

July 3, 2026

 

 

June 27, 2025

 

Employer contribution

 

$

363

 

 

$

357

 

 

$

716

 

 

$

622