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PENSION AND OTHER POSTRETIREMENT BENEFITS
 9 Months Ended
Sep. 28, 2025
Retirement Benefits [Abstract]  
PENSION AND OTHER POSTRETIREMENT BENEFITS PENSION AND OTHER POSTRETIREMENT BENEFITS
The Company sponsors programs that provide retirement benefits to most of its employees. These programs include qualified defined benefit pension plans in the U.K., such as the Tulip Limited Pension Plan and the Geo Adams Group Pension Fund, nonqualified defined benefit retirement plans, a defined benefit postretirement life insurance plan and defined contribution retirement savings plan. Expenses recognized under all retirement plans totaled $8.6 million and $8.3 million in the three months ended September 28, 2025 and September 29, 2024, respectively, and $24.7 million and $26.9 million in the nine months ended September 28, 2025 and September 29, 2024, respectively.
In the fourth quarter of 2024, the Company completed the termination of its two U.S. pension plans, Pilgrim’s Pride Retirement Plan for Union Employees (the “Union Plan”) and the Pilgrim’s Pride Pension Plan for Legacy Gold Kist Employees (the “GK Pension Plan”). Under the plan terminations, participants were offered a lump-sum buyout or an annuity placement buyout. Assets of the pension plans were liquidated and funds from liquidation were used to settle the obligations, which amounted to $99.6 million at time of termination.
The Company used a quarter-end measurement date of September 28, 2025 for its pension and postretirement benefits plans. Certain disclosures are listed below. Other disclosures are not material to the financial statements.
Net Periodic Benefit Costs
Net defined benefit pension and other postretirement costs included the following components:
Three Months EndedNine Months Ended
September 28, 2025September 29, 2024September 28, 2025September 29, 2024
Pension BenefitsOther BenefitsPension BenefitsOther BenefitsPension BenefitsOther BenefitsPension BenefitsOther Benefits
(In thousands)
Interest cost$1,607 $13 $3,140 $13 $4,675 $35 $8,089 $35 
Estimated return on plan assets(2,075)— (3,127)— (5,980)— (8,330)— 
Settlement losses (gains)— — 10,774 — (1,611)— 10,774 — 
Expenses paid from assets116 — 112 — 346 — 304 — 
Amortization of net loss (gain)
(88)— 259 — (13)(1)594 — 
Amortization of past service cost4 — 4 — 13 — 13 — 
Net costs(a)
$(436)$13 $11,162 $13 $(2,570)$34 $11,444 $35 
(a)    Net costs are included in the line item Miscellaneous, net on the Condensed Consolidated Statements of Income.
During the nine months ended September 28, 2025, the Company received $4.6 million from the liquidation of the remaining assets of the Union Plan and GK Pension Plan, the majority of which will be used to cover future plan administration costs for the U.S. defined contribution retirement savings plan. During the nine months ended September 28, 2025, the Company contributed $3.3 million to our pension programs. We anticipate making additional contributions of approximately $3.3 million during the remainder of 2025. The Company contributed $5.1 million to our pension programs during the nine months ended September 29, 2024.
Remeasurement
The Company remeasures both plan assets and obligations on a quarterly basis.
Defined Contribution Plans
The Company sponsors two defined contribution retirement savings plans in the U.S. reportable segment for eligible U.S. and Puerto Rico employees. The Company maintains three postretirement plans for eligible employees in the Mexico reportable segment, as required by Mexico law, which primarily cover termination benefits. The Company maintains seven defined contribution retirement savings plans in the Europe reportable segment for eligible U.K. and Europe employees, as required by U.K. and Europe law. The Company’s expenses related to its defined contribution plans totaled $8.0 million and $7.5 million in the three months ended September 28, 2025 and September 29, 2024, respectively, and $25.1 million and $25.0 million in the nine months ended September 28, 2025 and September 29, 2024, respectively.