Company: CRL
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001100682-25-000011
Chunk: 180

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 180
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 before 2020.The Company and certain of its subsidiaries have ongoing tax controversies in the U.S., Canada, France, China, Hungary, Israel, Ireland, Singapore, and India. The Company does not anticipate resolution of these audits will have a material impact on its consolidated financial statements.Prepaid income tax of $83.0 million and $59.7 million has been presented within Other current assets in the accompanying consolidated balance sheets as of December 28, 2024 and December 30, 2023, respectively. Accrued income taxes of $31.9 million and $38.8 million have been presented within Other current liabilities in the accompanying consolidated balance sheets as of December 28, 2024 and December 30, 2023, respectively.

14. EMPLOYEE BENEFIT PLANS

Pension PlansThe Charles River Pension Plan (U.K. Pension Plan) is a defined contribution and defined benefit pension plan covering certain U.K. employees. Benefits are based on participants’ final pensionable salary and years of service. Participants’ rights vest immediately. The plan was previously amended to exclude new participants from joining the defined benefit section of the plan and a defined contribution section was established for new entrants. Contributions under the defined contribution plan are determined as a percentage of gross salary. Additionally, the U.K. Pension Plan was amended such that the members of the defined benefit section of the plan ceased to accrue additional benefits; however, their benefits continue to be adjusted for changes in their final pensionable salary or a specified inflation index, as applicable. During fiscal 2024, the Company made $3.8 million in contributions to the U.K. Pension Plan. As of fiscal 2024 year-end, this plan was in a funded status of $31.4 million.During 2022, the Company terminated a non-contributory defined benefit plan that covered certain employees in Canada (Canada Pension Plan). Upon settlement of the pension liability in fiscal year 2022, the Company recognized a $1.0 million loss related to the net periodic benefit cost recorded in Other expense in the consolidated statements of income.In addition, the Company has several defined benefit plans in certain other countries in which it maintains an operating presence, including Canada, France, Germany, Italy, Mauritius, Netherlands, and Japan.The net periodic benefit cost (income) associated with these plans for fiscal years 2024, 2023 and 2022 totaled $4.8 million, $2.8 million and $0.1 million