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Retirement Benefits (Tables)
 12 Months Ended
Dec. 27, 2024
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):
LevelDecember 27, 2024December 29, 2023
Cash and cash equivalents1$115 $1,425 
Insurance contract332,466 36,151 
Investments categorized in fair value hierarchy32,581 37,576 
Equity
U.S. Large CapN/A64,645 40,726 
InternationalN/A16,444 17,554 
Total equity81,089 58,280 
Fixed incomeN/A64,331 49,595 
Real estate and otherN/A4,545 15,400 
Investments measured at net asset value149,965 123,275 
Total$182,546 $160,851 
Level 3 plan assets activity
The following table is a reconciliation of pension assets measured at fair value using level 3 inputs (in thousands):
20242023
Balance, beginning of year$36,151 $32,163 
Purchases2,331 2,593 
Redemptions(4,133)(2,833)
Unrealized (losses) gains (1,883)4,228 
Balance, end of year$32,466 $36,151 
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 27, 2024 and December 29, 2023, and a statement of the funded status as of the same dates (in thousands):
 Pension BenefitsPostretirement Medical Benefits
 2024202320242023
Change in benefit obligation
Obligation, beginning of year$213,575 $315,807 $22,654 $22,930 
Service cost5,097 5,729 344 348 
Interest cost9,194 16,535 1,148 1,165 
Actuarial (gain) loss (19,973)32,763 (2,153)(237)
Benefit payments(3,117)(12,103)(1,658)(1,552)
Plan amendments(285)(250)— — 
Settlements(3,579)(149,212)— — 
Exchange rate changes(3,603)4,306 — — 
Obligation, end of year$197,309 $213,575 $20,335 $22,654 
Change in plan assets
Fair value, beginning of year$160,851 $281,175 $— $— 
Actual return on assets7,658 14,504 — — 
Employer contributions23,216 23,066 1,658 1,552 
Benefit payments(3,117)(12,103)(1,658)(1,552)
Settlements(3,579)(149,212)— — 
Exchange rate changes(2,483)3,421 — — 
Fair value, end of year$182,546 $160,851 $— $— 
Unfunded status$(14,763)$(52,724)$(20,335)$(22,654)
Amounts recognized in balance sheets
Amounts recognized in consolidated balance sheets
Non-current assets$37,888 $215 $— $— 
Current liabilities2,421 1,749 1,633 1,745 
Non-current liabilities50,230 51,190 18,702 20,909 
Net$14,763 $52,724 $20,335 $22,654 
Accumulated benefit obligation in excess of plan assets Information for plans with an accumulated benefit obligation in excess of plan assets follows (in thousands):
20242023
Projected benefit obligation$85,117 $89,206 
Accumulated benefit obligation80,746 81,701 
Fair value of plan assets32,466 36,150 
Components of net periodic benefit cost
The components of net periodic benefit cost for the plans for 2024, 2023 and 2022 were as follows (in thousands):
 Pension BenefitsPostretirement Medical Benefits
 202420232022202420232022
Service cost-benefits earned during the period$5,097 $5,729 $8,242 $344 $348 $516 
Interest cost on projected benefit obligation9,194 16,535 10,996 1,148 1,165 839 
Expected return on assets(10,147)(19,141)(19,754)— — — 
Amortization of prior service cost(281)36 84 — — — 
Amortization of net loss3,255 5,999 4,701 — (133)345 
Settlement loss346 42,169 — — — — 
Cost of pension plans which are not significant and have not adopted ASC 715171 368 284 N/AN/AN/A
Net periodic benefit cost$7,635 $51,695 $4,553 $1,492 $1,380 $1,700 
Amounts recognized in other comprehensive (income) loss
Amounts recognized in other comprehensive income (loss) in 2024 and 2023 were as follows (in thousands):
 Pension BenefitsPostretirement Medical Benefits
 2024202320242023
Net (loss) gain arising during the period$17,506 $(37,132)$2,153 $237 
Amortization of net loss (gain)3,255 5,999 — (133)
Prior service credit (cost) arising during the period285 250 — — 
Settlement loss346 42,169 — — 
Amortization of prior service (credit) cost(281)36 — — 
Total$21,111 $11,322 $2,153 $104 
Amounts included in accumulated other comprehensive (income) loss
Amounts included in accumulated other comprehensive income (loss) as of December 27, 2024 and December 29, 2023, that had not yet been recognized as components of net periodic benefit cost, were as follows (in thousands):
 Pension BenefitsPostretirement Medical Benefits
 2024202320242023
Prior service cost $2,026 $2,163 $— $— 
Net gain (loss)(22,954)(44,195)4,148 1,995 
Net gain (loss) before income taxes(20,928)(42,032)4,148 1,995 
Income taxes4,549 9,464 (914)(439)
Net$(16,379)$(32,568)$3,234 $1,556 
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 assumptions2024202320242023
U.S. Plans
Discount rate5.9 %5.3 %5.8 %5.3 %
Rate of compensation increase2.5 %2.7 %N/AN/A
Non-U.S. Plans
Discount rate1.4 %2.1 %N/AN/A
Rate of compensation increase2.0 %1.7 %N/AN/A

Assumptions used to determine the Company’s net periodic benefit cost are shown below:
 Pension BenefitsPostretirement Medical Benefits
Weighted average assumptions            202420232022202420232022
U.S. Plans
Discount rate5.3 %5.6 %3.0 %5.3 %5.6 %2.9 %
Rate of compensation increase2.7 %2.7 %2.7 %N/AN/AN/A
Expected return on assets7.6 %7.6 %6.3 %N/AN/AN/A
Non-U.S. Plans
Discount rate2.1 %0.4 %0.4 %N/AN/AN/A
Rate of compensation increase1.7 %1.3 %1.3 %N/AN/AN/A
Expected return on assets2.1 %1.6 %1.0 %N/AN/AN/A
Estimated future benefit payments Estimated future benefit payments are as follows (in thousands):
Pension
Benefits		Postretirement
Medical Benefits
2025$6,148 $1,633 
20268,297 1,574 
202710,028 1,580 
202810,093 1,561 
202911,463 1,543 
Years 2030-203465,071 7,484