Pension plan

9 Months Ended

Mar. 29, 2025

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:

	Third Quarters Ended				Nine Months Ended
	March 29,		March 30,		March 29,		March 30,
	2025		2024		2025		2024
	(Thousands)
Service cost within selling, general and administrative expenses	$	2,870	$	2,563	$	8,610	$	7,689
Interest cost		6,183		6,145		18,549		18,434
Expected return on plan assets		(10,438)		(9,986)		(31,315)		(29,956)
Recognized net actuarial loss and other		1,286		57		3,859		170
Total net periodic pension benefit within other expense, net		(2,969)		(3,784)		(8,907)		(11,352)
Net periodic pension benefit	$	(99)	$	(1,221)	$	(297)	$	(3,663)

The Company made $6.0 million of contributions during the first nine months of fiscal 2025 and expects to make additional contributions to the Plan of $2.0 million in the fourth quarter of fiscal 2025.