Pension Plans

3 Months Ended

Apr. 02, 2021

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Compensation and Employee Benefit Plans

PENSION PLANS

Components of net pension cost for the Qualified Pension Plan and Supplemental Employees’ Retirement Plan ("SERP") were as follows:

	For the Three Months Ended
	Qualified Pension Plan				SERP
	April 2, 2021		April 3, 2020		April 2, 2021		April 3, 2020
In thousands
Service cost	$	1,300	$	1,309	$	—	$	—
Interest cost on projected benefit obligation	3,525		5,255		15		41
Expected return on plan assets	(11,275)		(10,796)		—		—
Amortization of net loss	1,075		1,201		17		236
Net pension (income) cost	$	(5,375)	$	(3,031)	$	32	$	277

The Company contributed $10.0 million to the qualified pension plan subsequent to the end of the first quarter, and $0.1 million to the SERP through the end of the first quarter of 2021. No further contributions are expected to be made to the qualified pension plan during 2021. The Company plans to contribute an additional $2.6 million to the SERP in 2021. For the 2020 plan year, the Company contributed $10.0 million to the qualified pension plan and $0.5 million to the SERP.