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v3.19.3.a.u2

Pension, Postretirement and Postemployment Benefits (Tables) | 12 Months Ended
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Dec. 29, 2019
Retirement Benefits [Abstract] |
Summary of Changes in Projected Benefit Obligation, Plan Assets and Funded Status |
| Pension |  | Postretirement
| 2019 |  | 2018 |  | 2019 |  | 2018
Change in Projected Benefit Obligation |  |  |  |  |  |  |
Projected benefit obligation — beginning | $ | 395,718 |  |  | 393,367 |  |  | 30,081 |  |  | 32,153 |
Service cost | 1,168 |  |  | 1,300 |  |  | 888 |  |  | 756 |
Interest cost | 6,624 |  |  | 13,358 |  |  | 1,267 |  |  | 1,171 |
Amendment | — |  |  | (78 | ) |  | — |  |  | — |
Actuarial (gain) loss | (8,092 | ) |  | 13,010 |  |  | 6,350 |  |  | (2,339 | )
Benefits paid | (13,271 | ) |  | (22,718 | ) |  | (1,641 | ) |  | (1,660 | )
Expenses paid | (3,172 | ) |  | (2,521 | ) |  | — |  |  | — |
Curtailment | — |  |  | — |  |  | (9,502 | ) |  | — |
Settlements paid | (348,004 | ) |  | — |  |  | — |  |  | — |
Projected benefit obligation — ending | $ | 30,971 |  |  | 395,718 |  |  | 27,443 |  |  | 30,081 |
Accumulated benefit obligation — ending | $ | 30,971 |  |  | 395,718 |  |  | 27,443 |  |  | 30,081 |
Change in Plan Assets |  |  |  |  |  |  |
Fair value of plan assets — beginning | $ | 357,224 |  |  | $ | 382,989 |  |  | — |  |  | — |
Actual return on plan assets | 23,147 |  |  | (3,328 | ) |  | — |  |  | — |
Employer contribution | 4,311 |  |  | 2,802 |  |  | — |  |  | — |
Benefits paid | (13,271 | ) |  | (22,718 | ) |  | — |  |  | — |
Expenses paid | (3,172 | ) |  | (2,521 | ) |  | — |  |  | — |
Settlements paid | (348,004 | ) |  | — |  |  | — |  |  | — |
Transfers | (20,235 | ) |  | — |  |  | — |  |  | — |
Fair value of plan assets — ending | $ | — |  |  | 357,224 |  |  | — |  |  | — |
Reconciliation of Funded Status |  |  |  |  |  |  |
Projected benefit obligation | $ | (30,971 | ) |  | (395,718 | ) |  | (27,443 | ) |  | (30,081 | )
Fair value of plan assets | — |  |  | 357,224 |  |  | — |  |  | — |
Funded status | (30,971 | ) |  | (38,494 | ) |  | (27,443 | ) |  | (30,081 | )
Unrecognized net loss | 13,054 |  |  | 155,829 |  |  | 177 |  |  | 3,350 |
Net amount | $ | (17,917 | ) |  | 117,335 |  |  | (27,266 | ) |  | (26,731 | )
Accrued liabilities | $ | (2,484 | ) |  | (8,946 | ) |  | (1,767 | ) |  | (1,607 | )
Other liabilities | (28,487 | ) |  | (29,548 | ) |  | (25,676 | ) |  | (28,474 | )
Accumulated other comprehensive (earnings) loss | 13,054 |  |  | 155,829 |  |  | 177 |  |  | 3,350 |
Net amount | $ | (17,917 | ) |  | 117,335 |  |  | (27,266 | ) |  | (26,731 | )
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:
| 2019 |  | 2018
Pension |  |  |
Weighted average discount rate | 3.30 | % |  | 3.72 | %
Mortality table | Pri-2012/Scale MP - 2019 |  |  | RP-2014/Scale BB |
Postretirement |  |  |
Discount rate | 3.46 | % |  | 4.33 | %
Health care cost trend rate assumed for next year | 6.25 | % |  | 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 | 2024 |  |  | 2024 |
Fair Values of Plan Assets by Asset Class and Fair Value Hierarchy Level | The fair values of the plan assets by asset class and fair value hierarchy level (excluding assets for which the fair value is measured using net asset value per share) as of December 30, 2018 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)
2018 |  |  |  |  |  |  |
Equity: |  |  |  |  |  |  |
Other measured at net asset value(a) | $ | 300 |  |  | — |  |  | — |  |  | — |
Fixed Income measured at net asset value(a) | 251,300 |  |  | 251,300 |  |  | — |  |  | — |
Cash Equivalents measured as net asset value(a) | 105,600 |  |  | — |  |  | — |  |  | — |
| $ | 357,200 |  |  | 251,300 |  |  | — |  |  | — |
(a) Certain investments that are measured at fair value using the net asset value per share are not classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Schedule of Changes in Plan Assets disclosed previously in this note.
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 29, 2019.
| 2019 |  | 2018 |  | 2017
Components of Net Periodic Cost |  |  |  |  |
Pension |  |  |  |  |
Service cost | $ | 1,168 |  |  | 1,300 |  |  | 1,290 |
Interest cost | 6,624 |  |  | 13,358 |  |  | 15,303 |
Expected return on assets | (6,163 | ) |  | (18,475 | ) |  | (19,534 | )
Amortization of prior service cost | (11 | ) |  | — |  |  | — |
Amortization of actuarial loss | 7,578 |  |  | 10,995 |  |  | 9,082 |
Curtailment/Settlement losses | 110,962 |  |  | — |  |  | — |
Net periodic benefit cost | $ | 120,158 |  |  | 7,178 |  |  | 6,141 |
Postretirement |  |  |  |  |
Service cost | $ | 888 |  |  | 756 |  |  | 691 |
Interest cost | 1,267 |  |  | 1,171 |  |  | 1,179 |
Amortization of actuarial loss | 21 |  |  | 165 |  |  | — |
Net periodic benefit cost (income) | $ | 2,176 |  |  | 2,092 |  |  | 1,870 |
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:
| 2019 |  | 2018 |  | 2017
Pension |  |  |  |  |
Weighted average discount rate | 3.72 | % |  | 3.71 | % |  | 4.22 | %
Long-term rate of return on plan assets | 4.20 | % |  | 4.75 | % |  | 6.25 | %
Postretirement |  |  |  |  |
Discount rate | 4.33 | % |  | 3.74 | % |  | 4.26 | %
Health care cost trend rate assumed for next year | 6.25 | % |  | 6.50 | % |  | 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 | 2024 |  |  | 2024 |  |  | 2021 |
Schedule of Expected Benefit Payments | Expected benefit payments under the defined benefit pension plans (which reflects the 2019 Plan termination) and the postretirement benefit plan for the next five years subsequent to 2019 and in the aggregate for the following five years are as follows:
| Pension |  | Postretirement
2020 | $ | 2,488 |  |  | 1,797 |
2021 | 2,453 |  |  | 1,743 |
2022 | 2,379 |  |  | 1,694 |
2023 | 2,405 |  |  | 1,644 |
2024 | 2,534 |  |  | 1,600 |
2025-2029 | 11,072 |  |  | 7,352 |

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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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