Employee Benefit Plans

3 Months Ended

Mar. 29, 2020

Retirement Benefits [Abstract]

Employee Benefit Plans

Employee Benefit Plans

The Company has a qualified pension plan and postretirement healthcare benefit plans. The plans cover certain eligible employees and retirees of the Motorcycles segment. The Company also has unfunded supplemental employee retirement plan agreements (SERPA) with certain employees. Service cost is allocated among Selling, administrative and engineering expense, Motorcycles cost of goods sold and Inventories, net. Amounts capitalized in inventory are not significant. Non-service cost components of net periodic benefit cost are presented in Other income, net. Components of net periodic benefit cost for the Company's defined benefit plans were as follows (in thousands):

	Three months ended
	March 29, 2020		March 31, 2019
Pension and SERPA Benefits:
Service cost	$	6,806	$	6,632
Interest cost	19,112		21,371
Expected return on plan assets	(33,764)		(35,581)
Amortization of unrecognized:
Prior service credit	(272)		(483)
Net loss	16,372		11,128
Net periodic benefit cost	$	8,254	$	3,067
Postretirement Healthcare Benefits:
Service cost	$	1,201	$	1,184
Interest cost	2,336		2,938
Expected return on plan assets	(3,467)		(3,507)
Amortization of unrecognized:
Prior service credit	(595)		(595)
Net loss	123		69
Net periodic benefit cost	$	(402)	$	89

There are no required or planned qualified pension plan contributions for 2020. The Company expects it will continue to make ongoing benefit payments under the SERPA and postretirement healthcare plans.