Annual report pursuant to Section 13 and 15(d)

RETIREMENT AND SAVINGS BENEFIT PLANS (Tables)

v3.24.0.1
RETIREMENT AND SAVINGS BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 30, 2023
Retirement Benefits [Abstract]  
Components of Pension Cost
The following tables present key components of pension costs, amounts recorded in the balance sheets and related key assumptions:
Year Ended December
(In thousands)
2023
2022
2021
Amounts included in the statements of operations:
Net pension costs $ 322  $ 811  $ 866 
Curtailments $ —  $ (2,581) $ — 
Actuarial assumptions used to determine pension expense:
Discount rate in effect for determining service cost 0.91  % 0.64  % 0.64  %
Rate of inflation 1.90  % 1.70  % 1.70  %
Expected long-term return on plan assets 3.00  % 3.00  % 3.00  %
Rate of compensation increase 3.10  % 2.90  % 2.90  %
(In thousands)
December 2023
December 2022
Amounts included in the balance sheets:
Projected benefit obligations $ 14,348  $ 14,206 
Fair value of plan assets 10,857  9,872 
Funded status - recorded in other liabilities (Note 12) $ 3,491  $ 4,334 
Accumulated other comprehensive gain, pretax - net deferred amounts 3,875  2,985 
Actuarial assumptions used to determine pension obligations:
Discount rate 3.18  % 0.91  %
Rate of compensation increase 3.40  % 3.10  %
Accumulated benefit obligations $ 11,808  $ 11,694