Postretirement Plans (Tables)

9 Months Ended

Oct. 09, 2021

Summary of Company's Condensed Balance Sheet Related Pension and Other Postretirement Benefit Plan

The following summarizes the company’s condensed balance sheet related pension and other postretirement benefit plan accounts at October 9, 2021 compared to accounts at January 2, 2021 (amounts in thousands):

	October 9, 2021		January 2, 2021
Current liability	$	874	$	874
Noncurrent liability	$	9,440	$	10,049
Accumulated other comprehensive loss, net of tax	$	6,310	$	6,648

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 Forty Weeks Ended
	October 9, 2021		October 3, 2020		October 9, 2021		October 3, 2020
Total cost and employer contributions	$	6,300	$	6,355	$	21,655	$	21,577

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 9, 2021			October 3, 2020			October 9, 2021			October 3, 2020
Service cost	$	224		$	195		$	747		$	657
Interest cost		176			229			584			1,880
Expected return on plan assets		(431	)		(414	)		(1,437	)		(3,518	)
Settlement and curtailment (gain) loss		—			(7,153	)		—			109,054
Amortization of prior service cost		13			13			44			101
Amortization of net loss		171			126			571			1,619
Total net periodic pension cost	$	153		$	(7,004	)	$	509		$	109,793

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 9, 2021			October 3, 2020			October 9, 2021			October 3, 2020
Service cost	$	78		$	65		$	259		$	217
Interest cost		27			45			91			151
Amortization of prior service credit		(1	)		(1	)		(3	)		(3	)
Amortization of net gain		(49	)		(69	)		(162	)		(230	)
Total net periodic postretirement cost	$	55		$	40		$	185		$	135