Retirement and Other Employee Benefits

9 Months Ended

Sep. 29, 2023

Retirement Benefits [Abstract]

Retirement and Other Employee Benefits

Retirement and Other Employee Benefits

The following table sets forth the net periodic benefit costs of our defined benefit pension plans and post-retirement benefit plans (U.S. dollars in millions):

	Quarter ended				Nine months ended
	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Service cost	$	1.3	$	1.5	$	4.1	$	4.4
Interest cost	1.9		1.3		5.5		4.0
Expected return on assets	(0.8)		(0.6)		(2.4)		(2.0)
Amortization of net actuarial loss	0.2		0.2		0.5		0.5
Net periodic benefit costs	$	2.6	$	2.4	$	7.7	$	6.9

We provide certain other retirement benefits to certain employees who are not U.S.-based and are not included above. Generally, benefits under these programs are based on an employee’s length of service and level of compensation. These programs are immaterial to our consolidated financial statements. The net periodic benefit costs related to other non-U.S. based plans is $0.5 million for the quarter ended September 29, 2023 and $1.4 million for the quarter ended September 30, 2022. The net periodic benefit costs related to other non-U.S. based plans is $2.5 million for the nine months ended September 29, 2023 and $3.1 million for the nine months ended September 30, 2022.

Service costs are presented in the same line item in the Consolidated Statements of Operations as other compensation costs arising from services rendered by the employees during the period. With the exception of service cost, the other components of net periodic benefit costs (which include interest costs, expected return on assets, curtailment and settlement expenses, and amortization of net actuarial losses) are recorded in the Consolidated Statements of Operations in other expense, net