XML 31 R17.htm IDEA: XBRL DOCUMENT v3.23.2
Pension Benefits
6 Months Ended
Jul. 02, 2023
Pension Benefits  
Pension Benefits

8.  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 six months ended July 2, 2023, and July 3, 2022, respectively:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

(Amounts in thousands)

​

July 2, 2023

​

July 3, 2022

    

July 2, 2023

​

July 3, 2022

​

Service cost

​

$

—

​

$

—

​

$

—

​

$

—

​

Interest cost

​

​

1,954

​

​

1,384

​

​

3,908

​

​

2,768

​

Expected return on plan assets

​

 

(2,402)

​

 

(3,060)

​

 

(4,804)

​

 

(6,119)

​

Amortization of net actuarial loss

​

 

234

​

 

229

​

 

468

​

 

458

​

Administrative fees

​

​

650

​

​

300

​

​

1,300

​

​

600

​

Total net periodic expense (benefit)

​

$

436

​

$

(1,147)

​

$

872

​

$

(2,293)

​

​

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

Weighted-Average Assumptions Used To Determine Net Cost

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

​

Six Months Ended

​

 

​

​

July 2, 2023

​

July 3, 2022

​

​

July 2, 2023

​

July 3, 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 six month periods ended July 2, 2023 and July 3, 2022.