XML 25 R14.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Employee Benefit Plans
6 Months Ended
Jun. 30, 2024
Retirement Benefits [Abstract]  
Employee Benefit Plans EMPLOYEE BENEFIT PLANS
During the three and six months ended June 30, 2024, the Company recorded multi-employer pension expense related to multi-employer contributions of $0.6 million and $1.3 million, respectively. During the three and six months ended July 2, 2023, the Company recorded multi-employer pension expense related to multi-employer contributions of $0.7 million and $1.3 million, respectively.
The following tables provide the components of net periodic benefit cost for the three and six months ended June 30, 2024 and July 2, 2023:
Three Months EndedSix Months Ended
Defined Benefit Retirement Plans (Europe)
June 30, 2024July 2, 2023June 30, 2024July 2, 2023
(in thousands)
Interest cost$1,702 $1,778 $3,412 $3,513 
Expected return on plan assets(1,955)(2,015)(3,921)(3,979)
Amortization of prior service cost44 30 89 59 
Amortization of net actuarial losses267 228 536 451 
Net periodic benefit cost$58 $21 $116 $44 
Three Months EndedSix Months Ended
Salary Continuation PlanJune 30, 2024July 2, 2023June 30, 2024July 2, 2023
(in thousands)
Interest cost$266 $284 $532 $567 
Amortization of net actuarial losses60 48 120 97 
Net periodic benefit cost$326 $332 $652 $664 
Three Months EndedSix Months Ended
nora Defined Benefit Plan
June 30, 2024July 2, 2023June 30, 2024July 2, 2023
(in thousands)
Service cost$124 $115 $250 $229 
Interest cost262 275 526 547 
Amortization of net actuarial gains
— (111)— (220)
Net periodic benefit cost$386 $279 $776 $556 
In accordance with applicable accounting standards, the service cost component of net periodic benefit costs is presented within operating income in the consolidated condensed statements of operations, while all other components of net periodic benefit costs are presented within other expense (income), net, in the consolidated condensed statements of operations.