Employee Benefit Plans

6 Months Ended

Jul. 05, 2020

Employee Postretirement Benefit Plans

The following table summarizes the components of net periodic pension credit for the Company’s various defined benefit employee pension and postretirement plans:


	Defined Benefit Pension Benefits						Postretirement Medical Benefits
	Three Months Ended
	July 5, 2020		June 30, 2019		July 5, 2020		June 30, 2019
	(In thousands)
Service and administrative costs	$	1,688	$	1,629	$	18	$	22
Interest cost	3,138		4,150		23		29
Expected return on plan assets	(5,371)		(6,161)		(347)		(294)


Amortization of prior service costs	—		(38)		—		—
Net periodic pension credit	$	(545)	$	(420)	$	(306)	$	(243)

	Defined Benefit Pension Benefits						Postretirement Medical Benefits
	Six Months Ended
	July 5, 2020		June 30, 2019		July 5, 2020		June 30, 2019
	(In thousands)
Service cost	$	3,595	$	3,262	$	36	$	44
Interest cost	6,282		8,309		47		58
Expected return on plan assets	(10,755)		(12,337)		(694)		(588)


Amortization of prior service costs	—		(77)		—		—
Net periodic benefit credit	$	(878)	$	(843)	$	(611)	$	(486)

During the six months ended July 5, 2020 and June 30, 2019, the Company contributed $3.4 million and $4.1 million, respectively, in the aggregate, to pension plans outside of the United States.

The Company recognizes actuarial gains and losses, unless an interim remeasurement is required, in the fourth quarter of the year in which the gains and losses occur, in accordance with the Company's accounting method for defined benefit pension plans and other postretirement benefits as described in Note 1 of the Company's audited consolidated financial statements and notes included in its 2019 Form 10-K. Such adjustments for gains and losses are primarily driven by events and circumstances beyond the Company's control, including changes in interest rates, the performance of the financial markets and mortality assumptions. Service costs for plans in active accrual are included in operating expenses.