Postretirement Plans (Tables)

9 Months Ended

Oct. 05, 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 October 5, 2024 compared to accounts at December 30, 2023 (amounts in thousands):

	October 5, 2024			December 30, 2023
Noncurrent benefit asset	$	6,330		$	6,494
Current benefit liability	$	699		$	699
Noncurrent benefit liability	$	5,315		$	5,798
AOCI, net of tax	$	(524	)	$	(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 Forty Weeks Ended
	October 5, 2024		October 7, 2023		October 5, 2024		October 7, 2023
Total cost and employer contributions	$	7,603	$	7,083	$	25,720	$	24,152

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 5, 2024			October 7, 2023			October 5, 2024			October 7, 2023
Service cost	$	169		$	157		$	561		$	524
Interest cost		272			301			906			1,003
Expected return on plan assets		(370	)		(360	)		(1,234	)		(1,200	)
Amortization of prior service cost		13			13			44			44
Amortization of net loss		9			40			32			133
Total net periodic pension cost	$	93		$	151		$	309		$	504

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 5, 2024			October 7, 2023			October 5, 2024			October 7, 2023
Service cost	$	42		$	41		$	140		$	137
Interest cost		53			54			176			182
Amortization of prior service credit		(54	)		(53	)		(180	)		(179	)
Amortization of net gain		(42	)		(57	)		(139	)		(190	)
Total net periodic postretirement credit	$	(1	)	$	(15	)	$	(3	)	$	(50	)