Pensions and Other Post-employment Benefits

9 Months Ended

Sep. 26, 2025

Pensions and Other Post-employment Benefits

The following is a summary of the net periodic benefit cost for the third quarter and first nine months ended September 26, 2025 and September 27, 2024, respectively, for the pension plans as shown below. The Pension Benefits column aggregates defined benefit pension plans in the U.S., Germany, Liechtenstein, England, and the U.S. supplemental retirement plans. The Other Benefits column includes the domestic retiree medical and life insurance plan.


	Pension Benefits				Other Benefits
	Third Quarter Ended				Third Quarter Ended
	September 26,		September 27,		September 26,		September 27,
(Thousands)	2025		2024		2025		2024
Components of net periodic benefit (credit) cost
Service cost	$	315	$	279	$	11	$	12
Interest cost	1,932		1,916		58		58
Expected return on plan assets	(2,539)		(2,541)		—		—
Amortization of prior service (benefit) cost	(23)		(22)		—		—
Amortization of net loss (gain)	90		32		(87)		(87)
Net periodic benefit (credit) cost	$	(225)	$	(336)	$	(18)	$	(17)


	Pension Benefits				Other Benefits
	Nine Months Ended				Nine Months Ended
	September 26,		September 27,		September 26,		September 27,
(Thousands)	2025		2024		2025		2024
Components of net periodic benefit (credit) cost
Service cost	$	909	$	813	$	33	$	37
Interest cost	5,769		5,728		174		175
Expected return on plan assets	(7,575)		(7,600)		—		—
Amortization of prior service (benefit) cost	(67)		(64)		—		—
Amortization of net loss (gain)	269		96		(262)		(262)
Net periodic benefit (credit) cost	$	(695)	$	(1,027)	$	(55)	$	(50)

The Company did not make any contributions to its domestic defined benefit plan in the third quarter or first nine months of 2025 or 2024.

The Company reports the service cost component of net periodic benefit cost in the same line item as other compensation costs in operating expenses and the non-service cost components of net periodic benefit cost in Other non-operating (income) expense.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
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+ Details

MATERION Corp 10-Q