Pension and Other Postretirement Benefit Plans

3 Months Ended

Dec. 30, 2022

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefit Plans

Pension and Other Postretirement Benefit Plans

The following table presents the components of net periodic pension benefit recognized in earnings during the three months ended December 30, 2022 and December 31, 2021 (in thousands):

	Three Months Ended
	December 30, 2022		December 31, 2021
Component:
Service cost	$	1,748	$	1,709
Interest cost	20,233		13,784
Expected return on plan assets	(21,091)		(23,263)
Amortization of previously unrecognized items	1,304		3,092
Total net periodic pension benefit cost/(income) recognized	$	2,194	$	(4,678)

The service cost component of net periodic pension benefit is presented in the same line item as other compensation costs (direct cost of contracts and selling, general and administrative expenses) and the other components of net periodic pension expense are presented in miscellaneous income (expense), net on the Consolidated Statements of Earnings.

The following table presents certain information regarding the Company’s cash contributions to our pension plans for fiscal 2023 (in thousands):

Cash contributions made during the first three months of fiscal 2023	$	7,260
Cash contributions projected for the remainder of fiscal 2023	19,391
Total	$	26,651