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Employee Pension and Profit Sharing Plans - (Tables) | 12 Months Ended
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Sep. 27, 2019
Retirement Benefits [Abstract] |
Schedule of Net Benefit Costs | The following table sets forth the components of net periodic pension cost for the Company's single-employer defined benefit pension plans for fiscal 2019, fiscal 2018 and fiscal 2017 (in thousands):
|  | Fiscal Year Ended
|  | September 27, 2019 |  | September 28, 2018 |  | September 29, 2017
Service cost |  | $ | 6,391 |  |  | $ | 7,121 |  |  | $ | 8,834 |
Interest cost |  | 11,287 |  |  | 10,579 |  |  | 8,398 |
Expected return on plan assets |  | (22,970 | ) |  | (22,864 | ) |  | (18,350 | )
Settlements and curtailments |  | 283 |  |  | 3,312 |  |  | — |
Amortization of prior service cost |  | 104 |  |  | 116 |  |  | 122 |
Recognized net loss |  | 1,094 |  |  | 1,646 |  |  | 3,400 |
Net periodic pension cost (income) |  | $ | (3,811 | ) |  | $ | (90 | ) |  | $ | 2,404 |
Schedule of Defined Benefit Plans Disclosures | The following table sets forth changes in the projected benefit obligation and the fair value of plan assets for these plans (in thousands):
Change in benefit obligation: |  | September 27, 2019 |  | September 28, 2018
Benefit obligation, beginning |  | $ | 366,426 |  |  | $ | 333,672 |
Impact of AmeriPride acquisition |  | — |  |  | 79,605 |
Foreign currency translation |  | (13,097 | ) |  | (11,312 | )
Service cost |  | 6,391 |  |  | 7,121 |
Interest cost |  | 11,287 |  |  | 10,579 |
Employee contributions |  | 2,249 |  |  | 2,571 |
Actuarial loss (gain) |  | 49,707 |  |  | (10,869 | )
Benefits paid |  | (16,681 | ) |  | (16,862 | )
Settlements and curtailments(1) |  | (5,075 | ) |  | (22,662 | )
Change in control payment |  | — |  |  | (5,417 | )
Benefit obligation, ending |  | $ | 401,207 |  |  | $ | 366,426 |
Change in plan assets: |  |  |  |
Fair value of plan assets, beginning |  | $ | 409,826 |  |  | $ | 341,538 |
Impact of AmeriPride acquisition |  | — |  |  | 73,273 |
Foreign currency translation |  | (14,360 | ) |  | (12,359 | )
Employer contributions |  | 10,520 |  |  | 13,988 |
Employee contributions |  | 2,249 |  |  | 2,571 |
Actual return on plan assets |  | 39,280 |  |  | 23,971 |
Benefits paid |  | (16,681 | ) |  | (16,862 | )
Settlements(1) |  | (4,867 | ) |  | (10,877 | )
Change in control payment |  | — |  |  | (5,417 | )
Fair value of plan assets, end |  | 425,967 |  |  | 409,826 |
Funded Status at end of year |  | $ | 24,760 |  |  | $ | 43,400 |
(1) | Fiscal 2019 includes the impact of closing two of the AmeriPride plans. Fiscal 2018 includes the impact of the Canadian pension plan freeze and the UK pension plan settlement resulting from the transfer of members out of the plan.
Schedule of Amounts Recognized in Balance Sheet Including Accumulated Other Comprehensive Income | Amounts recognized in the Consolidated Balance Sheets consist of the following (in thousands):
|  | September 27, 2019 |  | September 28, 2018
Noncurrent benefit asset (included in Other Assets) |  | $ | 35,459 |  |  | $ | 59,481 |
Noncurrent benefit liability (included in Other Noncurrent Liabilities) |  | (10,699 | ) |  | (16,081 | )
Net actuarial loss (included in Accumulated other comprehensive loss before taxes) |  | 77,204 |  |  | 48,067 |
Schedule of Assumptions Used | The following weighted average assumptions were used to determine pension expense of the respective fiscal years:
|  | September 27, 2019 |  | September 28, 2018
Discount rate |  | 3.3 | % |  | 3.2 | %
Rate of compensation increase |  | 2.1 | % |  | 2.0 | %
Long-term rate of return on assets |  | 5.7 | % |  | 5.8 | %
The following weighted average assumptions were used to determine the funded status of the respective fiscal years:
|  | September 27, 2019 |  | September 28, 2018
Discount rate |  | 2.5 | % |  | 3.3 | %
Rate of compensation increase |  | 2.1 | % |  | 2.1 | %
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets | The following table sets forth information for the Company's single-employer pension plans with an accumulated benefit obligation in excess of plan assets as of September 27, 2019 and September 28, 2018 (in thousands):
|  | September 27, 2019 |  | September 28, 2018
Projected benefit obligation |  | $ | 10,699 |  |  | $ | 16,081 |
Accumulated benefit obligation |  | 10,506 |  |  | 15,935 |
Schedule of Allocation of Plan Assets | The fair value of plan assets for the Company's defined benefit pension plans as of September 27, 2019 and September 28, 2018 is as follows (see Note 16 for a description of the fair value levels) (in thousands):
|  | September 27, 2019 |  | Quoted prices in active markets Level 1 |  | Significant other observable inputs Level 2 |  | Significant unobservable inputs Level 3
Cash and cash equivalents and other |  | $ | 19,396 |  |  | $ | 19,396 |  |  | $ | — |  |  | $ | — |
Equity securities: |  |  |  |  |  |  |  |
Investment trusts |  | 4,677 |  |  | 4,677 |  |  | — |  |  | — |
Investment funds: |  |  |  |  |  |  |  |
Equity funds |  | 72,074 |  |  | — |  |  | 72,074 |  |  | — |
Fixed income funds |  | 319,395 |  |  | — |  |  | 319,395 |  |  | — |
Real estate |  | 10,425 |  |  | — |  |  | — |  |  | 10,425 |
Total |  | $ | 425,967 |  |  | $ | 24,073 |  |  | $ | 391,469 |  |  | $ | 10,425 |
|  | September 28, 2018 |  | Quoted prices in active markets Level 1 |  | Significant other observable inputs Level 2 |  | Significant unobservable inputs Level 3
Cash and cash equivalents and other |  | $ | 20,568 |  |  | $ | 20,568 |  |  | $ | — |  |  | $ | — |
Equity securities: |  |  |  |  |  |  |  |
Investment trusts |  | 11,689 |  |  | $ | 11,689 |  |  | — |  |  | — |
Investment funds: |  |  |  |  |  |  |  |
Equity funds |  | 220,853 |  |  | — |  |  | 220,853 |  |  | — |
Fixed income funds |  | 146,271 |  |  | — |  |  | 146,271 |  |  | — |
Real estate |  | 10,445 |  |  | — |  |  | — |  |  | 10,445 |
Total |  | $ | 409,826 |  |  | $ | 32,257 |  |  | $ | 367,124 |  |  | $ | 10,445 |
Schedule of Expected Benefit Payments | The following table sets forth the benefits expected to be paid in the next five fiscal years and in aggregate for the five fiscal years thereafter by the Company's defined benefit pension plans (in thousands):
Fiscal 2020 | $ | 13,601 |
Fiscal 2021 | 14,063 |
Fiscal 2022 | 14,448 |
Fiscal 2023 | 14,819 |
Fiscal 2024 | 15,121 |
Fiscal 2025 – 2029 | 81,559 |
Schedule of Multiemployer Plans | There have been no significant changes that affect the comparability of fiscal 2019, fiscal 2018 and fiscal 2017 contributions.
Pension Fund | EIN/Pension Plan Number | Pension Protection Act Zone Status | FIP/RP Status Pending/ Implemented | Contributions by the Company (in thousands) |  | Range of Expiration Dates of CBAs
2019 | 2018 | 2019 | 2018 | 2017 | Surcharge Imposed
National Retirement Fund | 13-6130178/ 001 | Critical | Critical | Implemented | $ | 4,130 |  | $ | 4,147 |  | $ | 7,541 |  | No | 3/1/2019 - 4/1/2022
UNITE HERE Retirement Fund(1) | 82-0994119/ 001 | Critical | Critical | Implemented | 4,531 |  | 3,686 |  | N/A |  | No | 6/30/2019 - 6/30/2023
Local 1102 Retirement Trust | 13-1847329/ 001 | Endangered | Endangered | Implemented | 110 |  | 1,206 |  | 397 |  | No | 10/31/2020
Central States SE and SW Areas Pension Plan | 36-6044243/ 001 | Critical and Declining | Critical and Declining | Implemented | 4,282 |  | 4,128 |  | 3,836 |  | No | 1/31/2007 - 3/31/2023
Pension Plan for Hospital & Health Care Employees Philadelphia & Vicinity | 23-2627428/ 001 | Critical | Critical | Implemented | 361 |  | 319 |  | 336 |  | No | 1/31/2023
Local 731 Private Scavengers and Garage Attendants Pension Trust Fund | 36-6513567/ 001 | Green | Green | N/A | 973 |  | 907 |  | 898 |  | No | 4/26/2019
SEIU National Industry Pension Fund (2) | 52-6148540/ 001 | Critical | Critical | Implemented | 623 |  | 501 |  | 429 |  | No | 12/31/2019 - 4/14/2022
LIUNA National Industrial Pension Fund | 52-6074345/ 001 | Critical | Critical | Implemented | 678 |  | 620 |  | 584 |  | No | 12/31/2020
Other funds |  |  |  |  | 17,873 |  | 17,109 |  | 14,668 |  |  |
Total contributions |  |  |  |  | $ | 33,561 |  | $ | 32,623 |  | $ | 28,689 |  |  |
(1) | Effective January 1, 2018, the UNITE HERE portion of the National Retirement Fund was spun off into the newly formed UNITE HERE Retirement Fund.
(2) | Over 75% of the Company's participants in this fund are covered by a single CBA that expires on 12/31/2019.
The Company provided more than 5 percent of the total contributions for the following plans and plan years:
Pension Fund |  | Contributions to the plan exceeded more than 5% of total contributions (as of the plan's year-end)
Local 1102 Retirement Trust |  | 12/31/2018 and 12/31/2017
Service Employees Pension Fund of Upstate New York |  | 12/31/2018 and 12/31/2017

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