Postretirement Plans (Tables)

9 Months Ended

Oct. 07, 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 October 7, 2023 compared to accounts at December 31, 2022 (amounts in thousands):

	October 7, 2023			December 31, 2022
Noncurrent benefit asset	$	5,650		$	4,902
Current benefit liability	$	710		$	710
Noncurrent benefit liability	$	5,504		$	5,814
AOCI, net of tax	$	(770	)	$	(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 Forty Weeks Ended
	October 7, 2023		October 8, 2022		October 7, 2023		October 8, 2022
Total cost and employer contributions	$	7,083	$	6,511	$	24,152	$	22,664

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 Forty Weeks Ended
	October 7, 2023			October 8, 2022			October 7, 2023			October 8, 2022
Service cost	$	157		$	274		$	524		$	914
Interest cost		301			204			1,003			680
Expected return on plan assets		(360	)		(432	)		(1,200	)		(1,441	)
Amortization of prior service cost		13			13			44			43
Amortization of net loss		40			107			133			356
Total net periodic pension cost	$	151		$	166		$	504		$	552

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 Forty Weeks Ended
	October 7, 2023			October 8, 2022			October 7, 2023			October 8, 2022
Service cost	$	41		$	50		$	137		$	165
Interest cost		54			25			182			85
Amortization of prior service credit		(53	)		(54	)		(179	)		(180	)
Amortization of net gain		(57	)		(41	)		(190	)		(137	)
Total net periodic postretirement credit	$	(15	)	$	(20	)	$	(50	)	$	(67	)