Pensions and Other Post-employment Benefits

3 Months Ended

Apr. 01, 2022

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 first quarter of 2022 and 2021 for the pension plans as shown below. The Pension Benefits column aggregates defined benefit pension plans in the U.S., Germany, Liechtenstein, England, and the U.S. supplemental retirement plans. The Other Benefits column includes the domestic retiree medical and life insurance plan.

	Pension Benefits				Other Benefits
	First Quarter Ended				First Quarter Ended
	April 1,		April 2,		April 1,		April 2,
(Thousands)	2022		2021		2022		2021
Components of net periodic benefit (income) cost
Service cost	$	318	$	438	$	22	$	20
Interest cost	1,223		1,048		39		29
Expected return on plan assets	(2,400)		(2,474)		—		—
Amortization of prior service cost (benefit)	(20)		(21)		(374)		(374)
Amortization of net loss (gain)	430		577		(68)		(69)
Total net benefit (income) cost	$	(449)	$	(432)	$	(381)	$	(394)

The Company did not make any contributions to its defined benefit plan in the first quarter of 2022 or 2021.

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.