Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 26, 2025

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (loss) (“AOCI(L)”) is composed of adjustments to the Company’s pension and postretirement medical benefit plans and unrealized gains/losses on the Company’s available-for-sale short-term investments.

Following is a summary of AOCI(L) for the third quarter of 2025 and the third quarter of 2024:

			Gains (Losses) During the Period				Reclassification to Income
(in thousands)	June 27, 2025		Pre-tax Activity		Tax Effect		Pre-tax Activity		Tax Effect		September 26, 2025
Net pension activity:
Actuarial gain	$	4,406	$	—	$	—	$	(9)	$	3	$	4,400
Prior service costs	(79)		—		—		4		(1)		(76)
Net postretirement benefits activity:
Actuarial gain	2,960		—		—		—		—		2,960
Prior service costs	(624)		—		—		—		—		(624)
Unrealized (loss) gain on short-term investments	(15)		71		(17)		12		(3)		48
Reclassification of stranded tax effects	(4,809)		—		—		—		—		(4,809)
Total AOCI(L)	$	1,839	$	71	$	(17)	$	7	$	(1)	$	1,899

			Gains (Losses) During the Period				Reclassification to Income
(in thousands)	June 28, 2024		Pre-tax Activity		Tax Effect		Pre-tax Activity		Tax Effect		September 27, 2024
Net pension activity:
Actuarial gain	$	533	$	—	$	—	$	—	$	—	$	533
Prior service costs	(91)		—		—		4		(1)		(88)
Net postretirement benefits activity:
Actuarial gain	761		—		—		26		(6)		781
Prior service costs	(624)		—		—		—		—		(624)
Unrealized (loss) gain on short-term investments	(173)		566		(138)		—		—		255
Reclassification of stranded tax effects	(4,809)		—		—		—		—		(4,809)
Total AOCI(L)	$	(4,403)	$	566	$	(138)	$	30	$	(7)	$	(3,952)

Following is a summary of AOCI(L) for the first nine months of 2025 and the first nine months of 2024:

			Gains (Losses) During the Period				Reclassification to Income
(in thousands)	December 31, 2024		Pre-tax Activity		Tax Effect		Pre-tax Activity		Tax Effect		September 26, 2025
Net pension activity:
Actuarial gain	$	4,418	$	—	$	—	$	(27)	$	9	$	4,400
Prior service costs	(85)		—		—		12		(3)		(76)
Net postretirement benefits activity:											—
Actuarial gain	2,960		—		—		—		—		2,960
Prior service costs	(624)		—		—		—		—		(624)
Unrealized gain on short-term investments	25		20		(6)		12		(3)		48
Reclassification of stranded tax effects	(4,809)		—		—		—		—		(4,809)
Total AOCI(L)	$	1,885	$	20	$	(6)	$	(3)	$	3	$	1,899

			Gains (Losses) During the Period				Reclassification to Income
(in thousands)	December 31, 2023		Pre-tax Activity		Tax Effect		Pre-tax Activity		Tax Effect		September 27, 2024
Net pension activity:
Actuarial gain	$	533	$	—	$	—	$	—	$	—	$	533
Prior service costs	(97)		—		—		12		(3)		(88)
Net postretirement benefits activity:
Actuarial gain	721		—		—		78		(18)		781
Prior service costs	(624)		—		—		—		—		(624)
Unrealized gain on short-term investments	—		338		(83)		—		—		255
Reclassification of stranded tax effects	(4,809)		—		—		—		—		(4,809)
Total AOCI(L)	$	(4,276)	$	338	$	(83)	$	90	$	(21)	$	(3,952)