Note 8 - Components of Net Periodic Benefit Related to Pension and Other Postretirement Benefit Plans

6 Months Ended

May 30, 2020

Notes to Financial Statements

Retirement Benefits [Text Block]

Note 8: Components of Net Periodic Benefit related to Pension and Other Postretirement Benefit Plans

	Three Months Ended May 30, 2020 and June 1, 2019
													Other
	Pension Benefits												Postretirement
	U.S. Plans						Non-U.S. Plans						Benefits
Net periodic cost (benefit):	2020			2019			2020			2019			2020			2019
Service cost	$	-		$	1		$	721		$	562		$	18		$	25
Interest cost		2,935			3,673			781			1,189			284			388
Expected return on assets		(6,439	)		(6,326	)		(2,798	)		(2,606	)		(1,994	)		(1,754	)
Amortization:
Prior service cost (benefit)		(1	)		3			16			16			-			-
Actuarial loss		1,799			1,169			940			786			16			9
Net periodic benefit	$	(1,706	)	$	(1,480	)	$	(340	)	$	(53	)	$	(1,676	)	$	(1,332	)

	Six Months Ended May 30, 2020 and June 1, 2019
													Other
	Pension Benefits												Postretirement
	U.S. Plans						Non-U.S. Plans						Benefits
Net periodic cost (benefit):	2020			2019			2020			2019			2020			2019
Service cost	$	-		$	2		$	1,441		$	1,130		$	37		$	49
Interest cost		5,869			7,346			1,563			2,373			567			775
Expected return on assets		(12,879	)		(12,652	)		(5,596	)		(5,193	)		(3,988	)		(3,507	)
Amortization:
Prior service cost (benefit)		(2	)		6			32			32			-			-
Actuarial loss		3,598			2,338			1,880			1,575			31			17
Net periodic benefit	$	(3,414	)	$	(2,960	)	$	(680	)	$	(83	)	$	(3,353	)	$	(2,666	)

Service cost is included with employee compensation cost in cost of sales and selling, general and administrative expenses in the Consolidated Statements of Income. The components of our net periodic defined benefit pension and postretirement benefit costs other than service cost are presented in other income (expense), net in the Consolidated Statements of Income.