Pension plan

3 Months Ended

Sep. 28, 2024

Pension and retirement plan

Pension and retirement plans

8. Pension plan

The Company has a noncontributory defined benefit pension plan that covers substantially all current and some former U.S. employees (the “Plan”). Components of net periodic pension cost for the Plan was as follows:

	First Quarters Ended
	September 28,		September 30,
	2024		2023
	(Thousands)
Service cost within selling, general and administrative expenses	$	2,870	$	2,563
Interest cost		6,183		6,145
Expected return on plan assets		(10,438)		(9,985)
Amortization of prior service cost		1		1
Recognized net actuarial loss		1,285		56
Total net periodic pension benefit within other (expense) income, net		(2,969)		(3,783)
Net periodic pension benefit	$	(99)	$	(1,220)

The Company made $4.0 million of contributions during the first quarter of fiscal 2025 and expects to make additional contributions to the Plan of $4.0 million in the remainder of fiscal 2025.