Kontoor Brands, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Cover
- Cover
- Audit Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
Notes Tables
Notes Details

RETIREMENT AND SAVINGS BENEFIT PLANS - Reconciliation of Changes in Fair Value of Defined Benefit Plan Assets and Projected Benefit Obligations (Details)

v3.22.4

RETIREMENT AND SAVINGS BENEFIT PLANS - Reconciliation of Changes in Fair Value of Defined Benefit Plan Assets and Projected Benefit Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
Amounts included in the statements of operations:
Net pension costs	$ 811	$ 866	$ 1,027
Curtailments	$ (2,581)	$ 0	$ 0
Actuarial assumptions used to determine pension expense:
Discount rate in effect for determining service cost	0.64%	0.64%	0.68%
Rate of inflation	1.70%	1.70%	1.80%
Expected long-term return on plan assets	3.00%	3.00%	3.00%
Rate of compensation increase	2.90%	2.90%	3.00%
Amounts included in the balance sheets:
Projected benefit obligations	$ 14,206	$ 22,935
Fair value of plan assets	9,872	9,250
Funded status - recorded in other liabilities (Note 11)	4,334	13,685
Accumulated other comprehensive gain (loss), pretax - net deferred amounts	$ 2,985	$ (2,904)
Actuarial assumptions used to determine pension obligations:
Discount rate	0.91%	0.64%
Rate of compensation increase	3.10%	2.90%
Accumulated benefit obligations	$ 11,694	$ 13,514

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