Note 7 - Components of Net Periodic Benefit Related to Pension and Other Postretirement Benefit Plans

6 Months Ended

May 31, 2025

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 May 31, 2025 and June 1, 2024
													Other
	Pension Benefits												Postretirement
	U.S. Plans						Non-U.S. Plans						Benefits
Net periodic (benefit) cost:	2025			2024			2025			2024			2025			2024
Service cost	$	-		$	-		$	385		$	347		$	-		$	-
Interest cost		3,242			3,464			1,495			1,560			249			291
Expected return on assets		(5,717	)		(6,555	)		(1,685	)		(1,627	)		(3,484	)		(2,727	)
Amortization:
Prior service cost		-			-			29			16			-			-
Actuarial loss		1,953			1,159			490			510			(2,277	)		-
Net periodic (benefit) cost	$	(522	)	$	(1,932	)	$	714		$	806		$	(5,512	)	$	(2,436	)

	Six Months Ended May 31, 2025 and June 1, 2024
													Other
	Pension Benefits												Postretirement
	U.S. Plans						Non-U.S. Plans						Benefits
Net periodic (benefit) cost:	2025			2024			2025			2024			2025			2024
Service cost	$	-		$	-		$	753		$	697		$	-		$	-
Interest cost		6,484			6,928			2,937			3,129			498			583
Expected return on assets		(11,434	)		(13,110	)		(3,309	)		(3,264	)		(6,968	)		(5,454	)
Amortization:
Prior service cost		-			-			56			32			-			-
Actuarial loss		3,906			2,318			965			1,024			(4,554	)		-
Net periodic (benefit) cost	$	(1,044	)	$	(3,864	)	$	1,402		$	1,618		$	(11,024	)	$	(4,871	)

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.