PENSION AND OTHER POSTRETIREMENT BENEFITS

3 Months Ended

Mar. 29, 2026

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 $10.2 million and $9.7 million in the three months ended March 29, 2026 and March 30, 2025, respectively.

The Company used a quarter-end measurement date of March 29, 2026 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 Ended
	March 29, 2026				March 30, 2025
	Pension Benefits		Other Benefits		Pension Benefits		Other Benefits
	(In thousands)
Interest cost	$	1,588	$	8	$	1,487	$	9
Estimated return on plan assets	(1,920)		—		(1,886)		—
Expenses paid from assets	115		—		125		—
Amortization of net gain	(44)		—		(84)		(1)
Amortization of past service cost	5		—		4		—
Net costs (income)(a)	$	(256)	$	8	$	(354)	$	8

(a)    Net costs are included in the line item Miscellaneous, net on the Condensed Consolidated Statements of Income.

During the three months ended March 29, 2026, the Company contributed $1.1 million to our pension programs. We anticipate making additional contributions of approximately $0.3 million during the remainder of 2026. The Company contributed $1.0 million to our pension programs during the three months ended March 30, 2025.

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 $10.2 million and $9.4 million in the three months ended March 29, 2026 and March 30, 2025, respectively.