Pension Benefits

9 Months Ended

Oct. 01, 2023

Retirement Benefits [Abstract]

Pension Benefits

Pension Benefits

We froze our pension plan effective March 31, 2006, and effective February 16, 2009, the remaining participants in the pension plan no longer earned future benefits. The following summarizes our pension costs during the three and nine months ended October 1, 2023, and October 2, 2022, respectively:

	Three Months Ended				Nine Months Ended
(Amounts in thousands)	October 1, 2023		October 2, 2022		October 1, 2023		October 2, 2022
Service cost	$	—	$	—	$	—	$	—
Interest cost	1,955		1,375		5,863		4,143
Expected return on plan assets	(2,401)		(3,060)		(7,205)		(9,179)
Amortization of net actuarial loss	236		217		704		675
Administrative fees	650		300		1,950		900
Total net periodic expense (benefit)	$	440	$	(1,168)	$	1,312	$	(3,461)

The components of net periodic pension (benefit) expense were included in "Other (income) expense, net" in the condensed consolidated statements of operations.

Weighted-Average Assumptions Used To Determine Net Cost

	Three Months Ended				Nine Months Ended
	October 1, 2023		October 2, 2022		October 1, 2023		October 2, 2022
Discount rate	4.95	%	2.60	%	4.95	%	2.60	%
Rate of compensation increase	N/A		N/A		N/A		N/A
Expected return on plan assets	5.75	%	5.75	%	5.75	%	5.75	%

Employer Contributions

We did not make any pension contributions during the three month or nine month periods ended October 1, 2023 and October 2, 2022.