Pensions and Other Postretirement Benefits

3 Months Ended

Mar. 29, 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 first fiscal quarters of 2025 and 2024 for the Company’s defined benefit pension plans:

	Fiscal quarter ended March 29, 2025					Fiscal quarter ended March 30, 2024
	U.S. Plans		Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Net service cost	$	-	$	729		$	-		$	790
Interest cost		380		1,488			381			1,686
Expected return on plan assets		-		(540	)		-			(596	)
Amortization of prior service cost		1		34			16			57
Amortization of losses (gains)		-		242			(108	)		457
Curtailment and settlement losses		-		23			-			105
Net periodic benefit cost	$	381	$	1,976		$	289		$	2,499

Other Postretirement Benefits

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

	Fiscal quarter ended March 29, 2025							Fiscal quarter ended March 30, 2024
	U.S. Plans				Non-U.S. Plans			U.S. Plans				Non-U.S. Plans
Service cost		$	5			$	55		$	5			$	60
Interest cost			51				56			53				61
Amortization of losses (gains)			(52	)			14			(60	)			21
Net periodic benefit cost		$	4			$	125		$	(2	)		$	142