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Postretirement Plans (Tables)
6 Months Ended
Jul. 13, 2019
Summary of Company's Balance Sheet Related Pension and Other Postretirement Benefit Plan

The following summarizes the company’s balance sheet related pension and other postretirement benefit plan accounts at July 13, 2019 compared to accounts at December 29, 2018 (amounts in thousands):

 

 

 

July 13, 2019

 

 

December 29, 2018

 

Current liability

 

$

1,283

 

 

$

1,283

 

Noncurrent liability

 

$

36,535

 

 

$

39,149

 

Accumulated other comprehensive loss, net of tax

 

$

102,151

 

 

$

105,036

 

Summary of Total Cost and Employer Contributions 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, 2019

 

 

July 14, 2018

 

 

July 13, 2019

 

 

July 14, 2018

 

Total cost and employer contributions

 

$

6,370

 

 

$

6,213

 

 

$

14,873

 

 

$

13,545

 

Pension plans  
Components of Net Periodic Benefit / (Income) Cost

The net periodic pension cost (income) 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, 2019

 

 

July 14, 2018

 

 

July 13, 2019

 

 

July 14, 2018

 

Service cost

 

$

163

 

 

$

216

 

 

$

378

 

 

$

504

 

Interest cost

 

 

2,752

 

 

 

3,123

 

 

 

6,425

 

 

 

6,247

 

Expected return on plan assets

 

 

(3,957

)

 

 

(4,678

)

 

 

(9,233

)

 

 

(10,085

)

Settlement loss

 

 

 

 

 

1,035

 

 

 

 

 

 

5,703

 

Amortization of prior service cost

 

 

89

 

 

 

95

 

 

 

208

 

 

 

195

 

Amortization of net loss

 

 

1,638

 

 

 

1,256

 

 

 

3,822

 

 

 

2,829

 

Total net periodic pension cost (income)

 

$

685

 

 

$

1,047

 

 

$

1,600

 

 

$

5,393

 

Postretirement Benefit Plan  
Components of Net Periodic Benefit / (Income) Cost

The net periodic postretirement income for the company includes the following components (amounts in thousands):  

 

 

 

For the Twelve Weeks Ended

 

 

For the Twenty-Eight Weeks Ended

 

 

 

July 13, 2019

 

 

July 14, 2018

 

 

July 13, 2019

 

 

July 14, 2018

 

Service cost

 

$

65

 

 

$

66

 

 

$

153

 

 

$

155

 

Interest cost

 

 

69

 

 

 

54

 

 

 

160

 

 

 

127

 

Amortization of prior service credit

 

 

(9

)

 

 

(49

)

 

 

(22

)

 

 

(114

)

Amortization of net gain

 

 

(63

)

 

 

(99

)

 

 

(149

)

 

 

(232

)

Total net periodic postretirement income

 

$

62

 

 

$

(28

)

 

$

142

 

 

$

(64

)