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Pension Benefits (Tables)
6 Months Ended
Jul. 03, 2022
Pension Benefits  
Summary of pension costs

Three Months Ended

Six Months Ended

(Amounts in thousands)

July 3, 2022

July 4, 2021

    

July 3, 2022

July 4, 2021

Service cost

$

300

$

275

$

600

$

550

Interest cost

 

1,384

 

1,275

 

2,768

 

2,550

Expected return on plan assets

 

(3,060)

 

(3,069)

 

(6,119)

 

(6,138)

Amortization of net actuarial loss

 

229

 

340

 

458

 

680

Total net periodic benefit

$

(1,147)

$

(1,179)

$

(2,293)

$

(2,358)

Schedule of weighted average assumptions used to determine benefit obligations and net cost

Weighted-Average Assumptions Used To Determine Net Cost

Three Months Ended

Six Months Ended

July 3, 2022

July 4, 2021

July 3, 2022

July 4, 2021

Discount rate

 

2.60

%  

2.20

%

2.60

%  

2.20

%

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

%