Note 7 - Pension and Postretirement Benefits

3 Months Ended

Mar. 04, 2023

Notes to Financial Statements

Retirement Benefits [Text Block]

Note 7: Components of Net Periodic Benefit related to Pension and Other Postretirement Benefit Plans

	Three Months Ended March 4, 2023 and February 26, 2022
													Other
	Pension Benefits												Postretirement
	U.S. Plans						Non-U.S. Plans						Benefits
Net periodic (benefit) cost:	2023			2022			2023			2022			2023			2022
Service cost	$	-		$	-		$	413		$	720		$	-		$	-
Interest cost		3,475			2,368			1,410			789			301			184
Expected return on assets		(7,206	)		(7,117	)		(1,730	)		(1,747	)		(2,465	)		(2,719	)
Amortization:
Prior service (benefit) cost		-			(1	)		15			16			-			-
Actuarial loss (gain)		635			1,013			491			649			-			(845	)
Net periodic (benefit) cost	$	(3,096	)	$	(3,737	)	$	599		$	427		$	(2,164	)	$	(3,380	)

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, net in the Consolidated Statements of Income.