RETIREMENT AND POST RETIREMENT HEALTH CARE PLANS

3 Months Ended

Apr. 03, 2021

Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]

RETIREMENT AND POST RETIREMENT HEALTH CARE PLANS

RETIREMENT AND POST RETIREMENT HEALTH CARE PLANS

The following table presents the Company’s net periodic benefit cost (income) components (in millions):

	Three Months Ended
	April 3, 2021		March 28, 2020
Service Cost	$	0.3	$	0.8
Interest Cost	1.5		2.1
Expected Return on Plan Assets	(3.1)		(3.3)
Amortization of Prior Service Cost and Net Actuarial Loss	0.4		0.1
Net Periodic Benefit Income	$	(0.9)	$	(0.3)

The service cost component is included in Cost of Sales and Operating Expenses. All other components of net periodic benefit costs are included in Other Income, Net on the Company's Condensed Consolidated Statements of Income.

For the three months ended April 3, 2021 and March 28, 2020, the Company contributed $1.2 million and $1.1 million, respectively, to post retirement plans. The Company expects to make total contributions of $5.8 million in 2021. The Company contributed a total of $8.5 million in fiscal 2020.