Employee Benefit Plans

9 Months Ended

Sep. 27, 2025

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

16. Employee Benefit Plans

Defined Benefit Plans

The Company has defined benefit pension and other long-term and postretirement benefit plans covering certain union and non-union employees, primarily in the U.S. and Canada. The defined benefit pension plans are closed to new participants. The liabilities for these plans are calculated using actuarial estimates and management assumptions. These estimates are based on historical information and certain assumptions about future events.

During the nine months ended September 28, 2024, the Company recorded a $1 million loss on pension curtailment charges associated with early retirements driven by the indefinite suspension of operations at the Temiscaming cellulose plant. The loss on curtailment was recognized in “indefinite suspension charges” in the condensed consolidated statements of operations. Additionally, the Company decreased its pension liability by $3 million. See Note 3—Indefinite Suspension of Operations for further information.

The following tables present the components of net periodic benefit cost of the Company’s plans:


	Pension				Postretirement
	Three Months Ended				Three Months Ended
	September 27, 2025		September 28, 2024		September 27, 2025		September 28, 2024
Service cost	$	1,191	$	1,440	$	111	$	138
Interest cost	6,928		6,972		239		247
Expected return on plan assets	(7,717)		(7,987)		—		—
Amortization of prior service cost (credit)	108		205		(43)		(24)
Amortization of (gain) loss	57		(11)		(245)		(185)


Net periodic benefit cost	$	567	$	619	$	62	$	176


	Pension				Postretirement
	Nine Months Ended				Nine Months Ended
	September 27, 2025		September 28, 2024		September 27, 2025		September 28, 2024
Service cost	$	3,549	$	4,504	$	332	$	414
Interest cost	20,668		20,784		715		742
Expected return on plan assets	(22,990)		(24,115)		—		—
Amortization of prior service cost (credit)	319		613		(129)		(73)
Amortization of (gain) loss	171		(33)		(732)		(554)

Curtailment	—		736		—		—
Net periodic benefit cost	$	1,717	$	2,489	$	186	$	529

Service cost is included in “cost of sales” or “selling, general and administrative expense” in the condensed consolidated statements of operations, as appropriate. Interest cost, expected return on plan assets, amortization of prior service cost (credit) and amortization of gain (loss) are included in “components of pension and OPEB, excluding service costs” in the condensed consolidated statements of operations.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

RAYONIER ADVANCED MATERIALS INC. 10-Q