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Employee Benefit Plans
12 Months Ended
Dec. 26, 2020
Compensation And Retirement Disclosure [Abstract]  
Employee Benefit Plans

5. Employee Benefit Plans

 

Certain subsidiaries of the Company sponsor various defined contribution employee retirement plans. GII and the Company’s other U.S.-based subsidiaries sponsor a plan under which their employees may contribute up to 50% of their annual compensation subject to Internal Revenue Code maximum limitations and to which the subsidiaries contribute a specified percentage of each participant’s annual compensation up to certain limits as defined in the retirement plan. During the years ended December 26, 2020, December 28, 2019, and December 29, 2018, expense related to this and other defined contribution plans of $63,908, $55,456, and $52,232, respectively, was recorded within the Company’s Consolidated Statements of Income.

 

Certain of the Company’s non-U.S. subsidiaries sponsor or participate in local defined benefit pension plans for which contributions are calculated by formulas that consider final pensionable salaries. The obligations, contributions, and associated expense of such plans for the years ended December 26, 2020, December 28, 2019, and December 29, 2018 were not material.