Postretirement Plans (Tables)

6 Months Ended

Jul. 16, 2022

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

The following summarizes the company’s Condensed Consolidated Balance Sheets related pension and other postretirement benefit plan accounts at July 16, 2022 compared to accounts at January 1, 2022 (amounts in thousands):

	July 16, 2022			January 1, 2022
Noncurrent benefit asset	$	1,198		$	1,281
Current benefit liability	$	804		$	804
Noncurrent benefit liability	$	7,062		$	7,249
AOCI, net of tax	$	(3,413	)	$	(3,456	)

Summary of Total Cost and Employer Contributions

The Flowers Foods, Inc. 401(k) Retirement Savings Plan covers substantially all the company’s employees who have completed certain service requirements. The total cost and employer contributions were as follows (amounts in thousands):

	For the Twelve Weeks Ended				For the Twenty-Eight Weeks Ended
	July 16, 2022		July 17, 2021		July 16, 2022		July 17, 2021
Total cost and employer contributions	$	6,747	$	6,219	$	16,153	$	15,355

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 Twelve Weeks Ended						For the Twenty-Eight Weeks Ended
	July 16, 2022			July 17, 2021			July 16, 2022			July 17, 2021
Service cost	$	274		$	224		$	640		$	523
Interest cost		204			175			476			408
Expected return on plan assets		(432	)		(431	)		(1,009	)		(1,006	)
Amortization of prior service cost		13			13			30			31
Amortization of net loss		107			171			249			400
Total net periodic pension cost	$	166		$	152		$	386		$	356

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 Twelve Weeks Ended						For the Twenty-Eight Weeks Ended
	July 16, 2022			July 17, 2021			July 16, 2022			July 17, 2021
Service cost	$	49		$	78		$	115		$	181
Interest cost		26			28			60			64
Amortization of prior service credit		(54	)		(1	)		(126	)		(2	)
Amortization of net gain		(41	)		(48	)		(96	)		(113	)
Total net periodic postretirement (credit) cost	$	(20	)	$	57		$	(47	)	$	130