Postretirement Plans (Tables)

6 Months Ended

Jul. 15, 2023

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 15, 2023 compared to accounts at December 31, 2022 (amounts in thousands):

	July 15, 2023			December 31, 2022
Noncurrent benefit asset	$	4,725		$	4,902
Current benefit liability	$	710		$	710
Noncurrent benefit liability	$	5,608		$	5,814
AOCI, net of tax	$	(726	)	$	(625	)

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 15, 2023		July 16, 2022		July 15, 2023		July 16, 2022
Total cost and employer contributions	$	7,094	$	6,747	$	17,069	$	16,153

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 15, 2023			July 16, 2022			July 15, 2023			July 16, 2022
Service cost	$	157		$	274		$	367		$	640
Interest cost		301			204			702			476
Expected return on plan assets		(360	)		(432	)		(840	)		(1,009	)
Amortization of prior service cost		13			13			31			30
Amortization of net loss		40			107			93			249
Total net periodic pension cost	$	151		$	166		$	353		$	386

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 15, 2023			July 16, 2022			July 15, 2023			July 16, 2022
Service cost	$	41		$	49		$	96		$	115
Interest cost		55			26			128			60
Amortization of prior service credit		(54	)		(54	)		(126	)		(126	)
Amortization of net gain		(57	)		(41	)		(133	)		(96	)
Total net periodic postretirement credit	$	(15	)	$	(20	)	$	(35	)	$	(47	)