Company: SENEA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001437749-25-033352
Chunk: 16

Company: Seneca Foods Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 16
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 the Company’s effective income tax rate during the three months ended September 27, 2025, and it is not anticipated to have a material impact on the Company’s effective income tax rate in future periods. The OBBBA’s provisions for accelerated tax deductions will reduce the Company’s cash income tax requirements for the current fiscal year.

The Company's federal income tax returns for fiscal years after 2022 are subject to examination. The Company is currently involved in two state income tax audits covering fiscal year 2021 through fiscal year 2024. The Company is current on its federal and state tax returns.

			9.

			Retirement Plans

The net periodic (benefit) cost for the Company’s pension plan consisted of (in thousands):

			Three Months Ended

			Six Months Ended

			September 27,

			September 28,

			September 27,

			September 28,

			2025

			2024

			2025

			2024

			Service cost including administrative expenses

			$
			1,323

			$
			1,590

			$
			2,645

			$
			3,181

			Interest cost

			2,912

			2,941

			5,825

			5,883

			Expected return on plan assets

			(4,818
			)

			(4,422
			)

			(9,637
			)

			(8,845
			)

			Amortization of net loss

			-

			76

			-

			152

			Amortization of prior service cost

			-

			3

			-

			5

			Net periodic pension (benefit) cost

			$
			(583
			)
			 
			$
			188

			$
			(1,167
			)
			 
			$
			376

There were no pension contributions made during the six months ended September 27, 2025 and September 28, 2024.

12

SENECA FOODS CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

			10.

			Stockholders’ Equity

During the six months ended September 27, 2025,