Postretirement Plans (Tables)

6 Months Ended

Jul. 13, 2024

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 13, 2024 compared to accounts at December 30, 2023 (amounts in thousands):

	July 13, 2024			December 30, 2023
Noncurrent benefit asset	$	6,379		$	6,494
Current benefit liability	$	699		$	699
Noncurrent benefit liability	$	5,567		$	5,798
AOCI, net of tax	$	(469	)	$	(342	)

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 13, 2024		July 15, 2023		July 13, 2024		July 15, 2023
Total cost and employer contributions	$	7,597	$	7,094	$	18,117	$	17,069

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 13, 2024			July 15, 2023			July 13, 2024			July 15, 2023
Service cost	$	168		$	157		$	392		$	367
Interest cost		272			301			634			702
Expected return on plan assets		(370	)		(360	)		(864	)		(840	)
Amortization of prior service cost		13			13			31			31
Amortization of net loss		10			40			23			93
Total net periodic pension cost	$	93		$	151		$	216		$	353

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 13, 2024			July 15, 2023			July 13, 2024			July 15, 2023
Service cost	$	42		$	41		$	98		$	96
Interest cost		53			55			123			128
Amortization of prior service credit		(54	)		(54	)		(126	)		(126	)
Amortization of net gain		(42	)		(57	)		(97	)		(133	)
Total net periodic postretirement credit	$	(1	)	$	(15	)	$	(2	)	$	(35	)