XML 28 R18.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Supplemental Retirement Plan and Related Post Retirement Benefits
 6 Months Ended
Jun. 29, 2024
Retirement Benefits [Abstract]  
Supplemental Retirement Plan and Related Post Retirement Benefits Supplemental Retirement Plan and Related Post Retirement Benefits
The Company has two non-qualified supplemental retirement defined benefit plans (“SERP” and “SERP II”) for certain current and retired executive officers. The following table sets forth information regarding the net periodic pension cost for the plans.
Six Months EndedThree Months Ended
(In thousands)June 29, 2024July 1, 2023June 29, 2024July 1, 2023
Service Cost$— $53 $— $27 
Interest Cost685 652 342 327 
Amortization of Prior Service Cost193 193 96 98 
Amortization of Net Actuarial Losses369 179 185 89 
Net Periodic Cost$1,247 $1,077 $623 $541 
Participants in the SERP are entitled to paid medical, dental, and long-term care insurance benefits upon retirement under the plan. The Company also has a defined benefit plan related to its subsidiary in France. The net periodic cost for both plans for the three and six months ended June 29, 2024 and July 1, 2023, is immaterial.
The service cost component of net periodic benefit costs above is recorded in Selling, General and Administrative Expenses within the Consolidated Condensed Statements of Operations, while the remaining components are recorded in Other Expense (Income), Net.