Pensions and Other Post-employment Benefits

9 Months Ended

Sep. 25, 2020

Retirement Benefits [Abstract]

Pensions and Other Post-employment Benefits

Pensions and Other Post-employment Benefits

The following is a summary of the net periodic benefit cost for the third quarter and first nine months of 2020 and 2019 for the domestic pension plans (which include the defined benefit pension plan and the supplemental retirement plans) and the domestic retiree medical plan.

	Pension Benefits				Other Benefits
	Third Quarter Ended				Third Quarter Ended
	September 25,		September 27,		September 25,		September 27,
(Thousands)	2020		2019		2020		2019
Components of net periodic benefit (income) cost
Service cost	$	—	$	1,359	$	14	$	18
Interest cost	1,215		1,500		53		100
Expected return on plan assets	(2,206)		(2,134)		—		—
Amortization of prior service cost (benefit)	—		120		(374)		(374)
Amortization of net loss (gain)	284		762		(83)		(24)
Total net benefit (income) cost	$	(707)	$	1,607	$	(390)	$	(280)

	Pension Benefits				Other Benefits
	Nine Months Ended				Nine Months Ended
	September 25,		September 27,		September 25,		September 27,
(Thousands)	2020		2019		2020		2019
Components of net periodic benefit (income) cost
Service cost	$	—	$	4,117	$	45	$	53
Interest cost	3,644		4,404		160		299
Expected return on plan assets	(6,616)		(6,424)		—		—
Amortization of prior service cost (benefit)	—		362		(1,123)		(1,123)
Amortization of net loss (gain)	852		2,193		(249)		(70)
Net periodic benefit (credit) cost	$	(2,120)	$	4,652	$	(1,167)	$	(841)
Net pension settlements/curtailments	94		3,296		—		—
Total net benefit (income) cost	$	(2,026)	$	7,948	$	(1,167)	$	(841)

The Company did not make any contributions to its domestic defined benefit plan in the first nine months of 2020 and made contributions of $4.5 million in the first nine months of 2019.

The Company reports the service cost component of net periodic benefit cost in the same line item as other compensation costs in operating expenses and the non-service cost components of net periodic benefit cost in Other non-operating (income) expense.

In May 2019, the Company's Board of Directors approved changes to the U.S. defined benefit pension plan. The Company froze the pay and service amounts used to calculate pension benefits for active participants in the pension plan as of January 1, 2020. The Company recognized a non-cash pre-tax pension curtailment charge of $3.3 million associated with the plan amendment during the first nine months of 2019.