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Retirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Plan assets by category and fair value measurement level
Assets of all plans by category and fair value measurement level were as follows (in thousands):
Level20212020
Cash and cash equivalents1$303 $1,234 
Insurance contract330,926 31,877 
Investments categorized in fair value hierarchy31,229 33,111 
Equity
U.S. Large CapN/A110,569 89,003 
U.S. Small/Mid CapN/A11,338 20,313 
InternationalN/A56,128 56,761 
Total equity178,035 166,077 
Fixed incomeN/A130,774 161,706 
Real estate and otherN/A7,862 12,671 
Investments measured at net asset value316,671 340,454 
Total$347,900 $373,565 
Level 3 plan assets activity
The following table is a reconciliation of pension assets measured at fair value using level 3 inputs (in thousands):
20212020
Balance, beginning of year$31,877 $27,675 
Purchases2,430 2,255 
Redemptions(2,556)(1,425)
Unrealized gains(825)3,372 
Balance, end of year$30,926 $31,877 
Funded status of plans
The following provides a reconciliation of the changes in the plans’ benefit obligations and fair value of assets over the periods ending December 31, 2021, and December 25, 2020, and a statement of the funded status as of the same dates (in thousands):
 Pension BenefitsPostretirement Medical Benefits
 2021202020212020
Change in benefit obligation
Obligation, beginning of year$510,652 $449,419 $34,458 $30,646 
Service cost9,355 9,361 670 609 
Interest cost11,409 13,313 832 1,016 
Actuarial (gain) loss (31,093)46,545 (2,391)3,572 
Benefit payments(13,360)(13,602)(1,447)(1,385)
Plan amendments(1,458)(529)— — 
Settlements(64,886)— — — 
Exchange rate changes(2,568)6,145 — — 
Obligation, end of year$418,051 $510,652 $32,122 $34,458 
Change in plan assets
Fair value, beginning of year$373,565 $303,944 $— $— 
Actual return on assets30,984 58,068 — — 
Employer contributions22,493 22,237 1,447 1,385 
Benefit payments(13,360)(13,602)(1,447)(1,385)
Settlements(64,886)— — — 
Exchange rate changes(896)2,918 — — 
Fair value, end of year$347,900 $373,565 $— $— 
Funded status$(70,151)$(137,087)$(32,122)$(34,458)
Amounts recognized in balance sheets
Amounts recognized in consolidated balance sheets
Non-current assets$— $9,144 $— $— 
Current liabilities1,769 1,750 1,768 1,714 
Non-current liabilities68,382 144,481 30,354 32,744 
Net$70,151 $137,087 $32,122 $34,458 
Accumulated benefit obligation in excess of plan assets Information for plans with an accumulated benefit obligation in excess of plan assets follows (in thousands):
20212020
Projected benefit obligation$91,678 $463,959 
Accumulated benefit obligation88,927 418,372 
Fair value of plan assets30,926 317,727 
Components of net periodic benefit cost
The components of net periodic benefit cost for the plans for 2021, 2020 and 2019 were as follows (in thousands):
 Pension BenefitsPostretirement Medical Benefits
 202120202019202120202019
Service cost-benefits earned during the period$9,355 $9,361 $7,735 $670 $609 $545 
Interest cost on projected benefit obligation11,409 13,313 15,103 832 1,016 1,162 
Expected return on assets(20,767)(18,814)(17,152)— — — 
Amortization of prior service cost246 294 279 — — — 
Amortization of net loss9,248 10,243 8,392 1,002 733 273 
Settlement loss12,285 — — — — — 
Cost of pension plans which are not significant and have not adopted ASC 715368 168 110 N/AN/AN/A
Net periodic benefit cost$22,144 $14,565 $14,467 $2,504 $2,358 $1,980 
Amounts recognized in other comprehensive (income) loss
Amounts recognized in other comprehensive income (loss) in 2021 and 2020 were as follows (in thousands):
 Pension BenefitsPostretirement Medical Benefits
 2021202020212020
Net gain (loss) arising during the period$42,039 $(8,872)$2,391 $(3,572)
Amortization of net (gain) loss9,248 10,243 1,002 733 
Prior service credit (cost) arising during the period1,458 529 — — 
Settlement (gain) loss12,285 — — — 
Amortization of prior service (credit) cost246 294 — — 
Total$65,276 $2,194 $3,393 $(2,839)
Amounts included in accumulated other comprehensive (income) loss
Amounts included in accumulated other comprehensive income (loss) as of December 31, 2021 and December 25, 2020, that had not yet been recognized as components of net periodic benefit cost, were as follows (in thousands):
 Pension BenefitsPostretirement Medical Benefits
 2021202020212020
Prior service cost $1,293 $(439)$— $— 
Net loss(70,995)(134,469)(7,498)(10,891)
Net before income taxes(69,702)(134,908)(7,498)(10,891)
Income taxes15,443 29,274 1,650 2,396 
Net$(54,259)$(105,634)$(5,848)$(8,495)
Assumptions used to determine obligations and cost
Assumptions used to determine the Company’s benefit obligations are shown below:
 Pension BenefitsPostretirement Medical Benefits
Weighted average assumptions2021202020212020
U.S. Plans
Discount rate3.0 %2.6 %2.9 %2.6 %
Rate of compensation increase2.7 %2.7 %N/AN/A
Non-U.S. Plans
Discount rate0.4 %0.4 %N/AN/A
Rate of compensation increase1.3 %1.3 %N/AN/A

Assumptions used to determine the Company’s net periodic benefit cost are shown below:
 Pension BenefitsPostretirement Medical Benefits
Weighted average assumptions            202120202019202120202019
U.S. Plans
Discount rate2.6 %3.5 %4.5 %2.6 %3.4 %4.5 %
Rate of compensation increase2.7 %2.8 %2.8 %N/AN/AN/A
Expected return on assets6.3 %6.8 %7.0 %N/AN/AN/A
Non-U.S. Plans
Discount rate0.4 %0.4 %1.3 %N/AN/AN/A
Rate of compensation increase1.3 %1.3 %1.4 %N/AN/AN/A
Expected return on assets1.0 %1.5 %2.0 %N/AN/AN/A
Estimated future benefit payments Estimated future benefit payments are as follows (in thousands):
Pension
Benefits		Postretirement
Medical Benefits
2022$13,553 $1,768 
202315,097 1,775 
202416,801 1,755 
202516,182 1,734 
202618,073 1,713 
Years 2027-2031102,198 8,362