Postretirement Plans (Tables)

4 Months Ended

Apr. 23, 2022

Summary of Company's Condensed Balance Sheet Related Pension and Other Postretirement Benefit Plan

The following summarizes the company’s Condensed Balance Sheet related pension and other postretirement benefit plan accounts at April 23, 2022 compared to accounts at January 1, 2022 (amounts in thousands):

	April 23, 2022			January 1, 2022
Noncurrent benefit asset	$	1,233		$	1,281
Current benefit liability	$	804		$	804
Noncurrent benefit liability	$	7,134		$	7,249
AOCI, net of tax	$	(3,431	)	$	(3,456	)

Summary of Total Cost and Employer Contributions

The total cost and employer contributions were as follows (amounts in thousands):

	For the Sixteen Weeks Ended
	April 23, 2022		April 24, 2021
Total cost and employer contributions	$	9,406	$	9,136

Pension plans

Components of Net Periodic Benefit / Cost

The net periodic pension cost for the company’s plans include the following components (amounts in thousands):

	For the Sixteen Weeks Ended
	April 23, 2022			April 24, 2021
Service cost	$	366		$	299
Interest cost		272			233
Expected return on plan assets		(577	)		(575	)
Amortization of prior service cost		17			18
Amortization of net loss		142			229
Total net periodic pension cost	$	220		$	204

Postretirement Benefit Plan

Components of Net Periodic Benefit / Cost

The net periodic postretirement expense for the company includes the following components (amounts in thousands):

	For the Sixteen Weeks Ended
	April 23, 2022			April 24, 2021
Service cost	$	66		$	103
Interest cost		34			36
Amortization of prior service credit		(72	)		(1	)
Amortization of net gain		(54	)		(65	)
Total net periodic postretirement cost	$	(26	)	$	73