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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 29, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Schedule of Changes in Projected Benefit Obligations
The status of the Company’s unfunded nonqualified, defined-benefit and account-based retirement plan based on the respective December 29, 2022 and December 30, 2021 measurement dates is as follows:
December 29,
2022
December 30,
2021
Change in benefit obligation:  
Benefit obligation at beginning of period$46,827 $48,604 
Service cost1,055 1,122 
Interest cost1,341 1,201 
Actuarial gain(11,368)(2,630)
Benefits paid(1,531)(1,470)
Benefit obligation at end of year$36,324 $46,827 
Amounts recognized in the statement of financial position consist of:
Current accrued benefit liability (included in Other accrued liabilities)$(1,890)$(1,674)
Noncurrent accrued benefit liability (included in Other long-term obligations)(34,434)(45,153)
Total$(36,324)$(46,827)
Amounts recognized in accumulated other comprehensive loss consist of:
Net actuarial loss$2,660 $15,120 
Prior service credit(260)(323)
Total$2,400 $14,797 
Schedule of Net Periodic Pension Cost
Year Ended
December 29, 2022December 30, 2021December 31, 2020
Net periodic pension cost:   
Service cost$1,055 $1,122 $1,095 
Interest cost1,341 1,201 1,371 
Net amortization of prior service cost and actuarial loss1,028 1,311 990 
$3,424 $3,634 $3,456 
Schedule of Pre-tax Change in the Benefit Obligation
The pre-tax change in the benefit obligation recognized in other comprehensive loss was as follows:
Year Ended
December 29, 2022December 30, 2021
(in thousands)
Net actuarial (gain) loss$(11,368)(2,630)
Amortization of the net actuarial loss(1,092)(1,375)
Amortization of the prior year service credit6364
Total$(12,397)(3,941)
Schedule of Assumptions Used
The weighted-average assumptions used to determine the benefit obligations as of the measurement dates were as follows:
December 29, 2022December 30, 2021
Discount rate
5.05%
2.85%
Rate of compensation increase
4.00%
4.00%
The weighted-average assumptions used to determine net periodic benefit cost were as follows:
Year Ended
December 29, 2022December 30, 2021December 31, 2020
Discount rate
2.85%
2.45%
3.10%
Rate of compensation increase
4.00%
4.00%
4.00%
Schedule of Expected Benefit Payments
Benefit payments expected to be paid subsequent to December 29, 2022, are as follows:
Fiscal Year
2023$1,938 
20242,002 
20252,219 
20262,358 
20272,348 
Years 2028 – 203215,409