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Pension, Postretirement and Postemployment Benefits (Tables) | 12 Months Ended
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Dec. 27, 2015
Pension, Postretirement and Postemployment Benefits [Abstract] |
Summary of Changes in Projected Benefit Obligation, Plan Assets and Funded Status | Reconciliations of the beginning and ending balances for the projected benefit obligation, the fair value of plan assets and the funded status are included below for the years ended December 27, 2015 and December 28, 2014.
| Pension |  | Postretirement
| 2015 |  | 2014 |  | 2015 |  | 2014
Change in Projected Benefit Obligation |  |  |  |  |  |  |  |
Projected benefit obligation – beginning | $ | 383,068 |  | 332,774 |  | 28,017 |  | 27,174
Service cost |  | 1,918 |  | 1,824 |  | 567 |  | 543
Interest cost |  | 15,683 |  | 16,209 |  | 1,154 |  | 1,337
Actuarial (gain) loss |  | (17,968) |  | 59,640 |  | (741) |  | 796
Curtailment |  | 660 |  | - |  | (746) |  | -
Benefits paid |  | (20,202) |  | (25,690) |  | (2,004) |  | (1,833)
Expenses paid |  | (2,099) |  | (1,689) |  | - |  | -
Projected benefit obligation – ending | $ | 361,060 |  | 383,068 |  | 26,247 |  | 28,017
Accumulated benefit obligation – ending | $ | 361,060 |  | 383,068 |  | 26,247 |  | 28,017
Change in Plan Assets |  |  |  |  |  |  |  |
Fair value of plan assets – beginning | $ | 272,010 |  | 273,337 |  | - |  | -
Actual return on plan assets |  | (3,414) |  | 20,385 |  | - |  | -
Employer contribution |  | 13,034 |  | 5,667 |  | - |  | -
Benefits paid |  | (20,202) |  | (25,690) |  | - |  | -
Expenses paid |  | (2,099) |  | (1,689) |  | - |  | -
Fair value of plan assets – ending | $ | 259,329 |  | 272,010 |  | - |  | -
Reconciliation of Funded Status |  |  |  |  |  |  |  |
Projected benefit obligation | $ | (361,060) |  | (383,068) |  | (26,247) |  | (28,017)
Fair value of plan assets |  | 259,329 |  | 272,010 |  | - |  | -
Funded status |  | (101,731) |  | (111,058) |  | (26,247) |  | (28,017)
Unrecognized net loss |  | 120,482 |  | 123,968 |  | 41 |  | 782
Unrecognized prior service cost (credit) |  | - |  | 187 |  | - |  | (3,401)
Net amount recognized | $ | 18,751 |  | 13,097 |  | (26,206) |  | (30,636)
Accrued liabilities | $ | (2,663) |  | (2,990) |  | (1,800) |  | (2,100)
Other liabilities |  | (99,068) |  | (108,068) |  | (24,447) |  | (25,917)
Accumulated other comprehensive earnings (loss) |  | 120,482 |  | 124,155 |  | 41 |  | (2,619)
Net amount recognized | $ | 18,751 |  | 13,097 |  | (26,206) |  | (30,636)
Assumptions used to determine year-end pension and postretirement benefit obligations | Assumptions used to determine the year-end pension and postretirement benefit obligations are as follows:
| 2015 |  | 2014
Pension |  |  |
Weighted average discount rate | 4.58% |  | 4.19%
Mortality table | RP-2014/Scale BB |  | RP-2014/Scale BB
Postretirement |  |  |
Discount rate | 4.64% |  | 4.23%
Health care cost trend rate assumed for next year | 7.00% |  | 6.50%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate) | 5.00% |  | 5.00%
Year that the rate reaches the ultimate trend | 2021 |  | 2020
Fair Values of Plan Assets by Asset Class and Fair Value Hierarchy Level | The assets of the funded plans are managed by investment advisors. The fair values of the plan assets by asset class and fair value hierarchy level (as described in note 12) as of December 27, 2015 and December 28, 2014 are as follows:
|  |  | Fair value measurements using:
| Fair Value |  | Quoted Prices in Active Markets For Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
2015: |  |  |  |  |  |  |  |
Equity: |  |  |  |  |  |  |  |
Large Cap | $ | 27,600 |  | 27,600 |  | - |  | -
Small Cap |  | 24,300 |  | 24,300 |  | - |  | -
International |  | 37,500 |  | - |  | 37,500 |  | -
Other |  | 2,500 |  | - |  | - |  | 2,500
Fixed Income |  | 122,600 |  | - |  | 122,600 |  | -
Total Return Fund |  | 27,700 |  | - |  | 27,700 |  | -
Cash Equivalents |  | 17,100 |  | - |  | 17,100 |  | -
| $ | 259,300 |  | 51,900 |  | 204,900 |  | 2,500
2014: |  |  |  |  |  |  |  |
Equity: |  |  |  |  |  |  |  |
Large Cap | $ | 14,100 |  | 14,100 |  | - |  | -
Small Cap |  | 18,000 |  | 18,000 |  | - |  | -
International |  | 34,300 |  | - |  | 34,300 |  | -
Other |  | 36,400 |  | - |  | - |  | 36,400
Fixed Income |  | 132,100 |  | - |  | 110,100 |  | 22,000
Total Return Fund |  | 28,600 |  | - |  | 28,600 |  | -
Cash Equivalents |  | 8,500 |  | - |  | 8,500 |  | -
| $ | 272,000 |  | 32,100 |  | 181,500 |  | 58,400
Components of Net Periodic Benefit Cost | The following is a detail of the components of the net periodic benefit cost for the three years ended December 27, 2015.
| 2015 |  | 2014 |  | 2013
Components of Net Periodic Cost |  |  |  |  |  |
Pension |  |  |  |  |  |
Service cost | $ | 1,918 |  | 1,824 |  | 2,579
Interest cost |  | 15,683 |  | 16,209 |  | 15,597
Expected return on assets |  | (18,538) |  | (18,631) |  | (17,761)
Amortization of prior service cost |  | 65 |  | 98 |  | 98
Amortization of actuarial loss |  | 7,468 |  | 3,351 |  | 7,070
Curtailment/settlement losses |  | 781 |  | - |  | 6,993
Net periodic benefit cost | $ | 7,377 |  | 2,851 |  | 14,576
Postretirement |  |  |  |  |  |
Service cost | $ | 567 |  | 543 |  | 750
Interest cost |  | 1,154 |  | 1,337 |  | 1,380
Amortization of actuarial (gain) loss |  | (304) |  | (457) |  | (264)
Curtailment |  | (3,842) |  | - |  | -
Net periodic benefit cost (income) | $ | (2,425) |  | 1,423 |  | 1,866
See note 17 for additional information on 2015 curtailment.
Assumptions Used to Determine Net Periodic Benefit Cost of Pension Plan and Postretirement Plan | Assumptions used to determine net periodic benefit cost of the pension plan and postretirement plan for each fiscal year follow:
| 2015 |  | 2014 |  | 2013
Pension |  |  |  |  |
Weighted average discount rate | 4.22% |  | 5.02% |  | 4.49%
Long-term rate of return on plan assets | 7.00% |  | 7.00% |  | 7.00%
Postretirement |  |  |  |  |
Discount rate | 4.49% |  | 5.11% |  | 4.34%
Health care cost trend rate assumed for next year | 6.50% |  | 7.00% |  | 7.00%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate) | 5.00% |  | 5.00% |  | 5.00%
Year that the rate reaches the ultimate trend rate | 2020 |  | 2020 |  | 2020
Schedule of Expected Benefit Payments | Expected benefit payments under the defined benefit pension plans and the postretirement benefit plan for the next five years subsequent to 2015 and in the aggregate for the following five years are as follows:
| Pension |  | Postretirement
2016 | $ | 19,501 |  | 1,850
2017 |  | 20,036 |  | 1,657
2018 |  | 20,576 |  | 1,615
2019 |  | 20,955 |  | 1,553
2020 |  | 21,249 |  | 1,504
2021-2025 |  | 115,117 |  | 6,934

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- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, expected long-term rates of return on plan assets, and health care cost trend rates. + References No definition available. + Details
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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e1928-114920 + Details
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