Annual report [Section 13 and 15(d), not S-K Item 405]

RETIREMENT AND SAVINGS BENEFIT PLANS (Tables)

v3.25.0.1
RETIREMENT AND SAVINGS BENEFIT PLANS (Tables)
12 Months Ended
Dec. 28, 2024
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)
2024
2023
2022
Amounts included in the statements of operations:
Net pension costs $ 251  $ 322  $ 811 
Curtailments $ —  $ —  $ (2,581)
Actuarial assumptions used to determine pension expense:
Discount rate in effect for determining service cost 3.18  % 0.91  % 0.64  %
Rate of inflation 2.20  % 1.90  % 1.70  %
Expected long-term return on plan assets 3.00  % 3.00  % 3.00  %
Rate of compensation increase 3.40  % 3.10  % 2.90  %
(In thousands)
December 2024
December 2023
Amounts included in the balance sheets:
Projected benefit obligations $ 14,789  $ 14,348 
Fair value of plan assets 10,782  10,857 
Funded status - recorded in other liabilities (Note 12) $ 4,007  $ 3,491 
Accumulated other comprehensive gain, pretax - net deferred amounts 2,838  3,875 
Actuarial assumptions used to determine pension obligations:
Discount rate 3.76  % 3.18  %
Rate of compensation increase 3.30  % 3.40  %
Accumulated benefit obligations $ 12,378  $ 11,808