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Benefit Plans (Tables)
12 Months Ended
Sep. 27, 2025
Retirement Benefits [Abstract]  
Schedule of Changes in Projected Benefit Obligations The projected benefit obligation (“PBO”) for the Defined Benefit Plan was $109.6 million and $113.6 million at September 27, 2025 and September 28, 2024, respectively, with the reconciliation of the beginning and ending balances of the PBO for the Defined Benefit Plan for the fiscal years indicated presented in the following table:
Benefit Obligation
(in thousands)20252024
Projected benefit obligation balance, beginning of year$113,634 $108,393 
Interest cost5,249 5,936 
Actuarial (gain) loss (1)
(1,204)8,091 
Benefits paid(8,030)(8,786)
Projected benefit obligations balance, end of year$109,649 $113,634 
(1)    Includes assumption changes, as applicable, resulting from (i) changes in the utilized discount rate to value the future obligations, and (ii) updates to the mortality table projections used in the calculation of the benefit obligations.
Schedule of Changes in Fair Value of Plan Assets The summary and reconciliation of the beginning and ending balances of the fair value of the Defined Benefit Plan assets are as follows:
Plan Assets
(in thousands)20252024
Fair value of plan assets, beginning of year$118,283 $105,989 
Actual return on plan assets3,385 21,080 
Employer contribution900 — 
Benefits paid(8,030)(8,786)
Fair value of plan assets, end of year$114,538 $118,283 
Schedule of Net Funded Status The net pension asset is reflected in long-term assets on the Consolidated Balance Sheets.
Funded Status
(in thousands)September 27, 2025September 28, 2024
Benefit obligation$109,649 $113,634 
Fair value of plan assets114,538 118,283 
Funded status4,889 4,649 
Net pension asset recognized
$4,889 $4,649 
Schedule of Allocation of Plan Assets
The following table sets forth, by level within the fair value hierarchy, a summary of the Defined Benefit Plan’s investments measured at fair value:
(in thousands)Level 1Level 2Level 3Total
September 27, 2025
Assets:
Equity securities$— $— $— $— 
Debt securities— 114,538 — 114,538 
Total assets at fair value$— $114,538 $— $114,538 
September 28, 2024
Assets:
Equity securities$— $77,817 $— $77,817 
Debt securities— 40,466 — 40,466 
Total assets at fair value$— $118,283 $— $118,283 
The Defined Benefit Plan asset allocations at the dates indicated are as follows: 
September 27, 2025September 28, 2024
Equity securities— %66 %
Debt securities100 %34 %
Total securities100 %100 %
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
The following table represents net periodic benefit (income) expense and changes in plan assets and benefit obligations recognized in other comprehensive loss (income), before tax effect, for the fiscal years presented:
(in thousands)202520242023
Interest cost$5,249 $5,936 $6,035 
Expected return on plan assets(7,276)(6,481)(6,518)
Amortization of net loss279 687 1,195 
Net periodic benefit (income) expense
$(1,748)$142 $712 
Net loss (gain)
$2,688 $(6,507)$(12,024)
Amortization of net loss(279)(687)(1,195)
Total recognized in other comprehensive loss (income)
$2,409 $(7,194)$(13,219)
Total recognized in net periodic pension benefit (income) expense and other comprehensive loss (income)
$661 $(7,052)$(12,507)
Schedule of Assumptions Used
As a result of the pending pension plan termination, the significant actuarial assumptions utilized in determining the benefit obligation as of September 27, 2025 were amended, with the following actuarial assumptions used to determine the benefit obligations at the dates indicated:
Weighted-average assumptions used to determine benefit obligations:September 27, 2025September 28, 2024
Discount rate(s)
4.43% and 5.16%
4.80 %
Rate of compensation increaseN/AN/A
Weighted-average assumptions used to determine net periodic benefit cost:September 27, 2025September 28, 2024
Discount rate4.80 %5.70 %
Expected long-term return on plan assets6.37 %6.37 %
Rate of compensation increaseN/AN/A