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Employee Pension and Profit Sharing Plans - (Tables)

12 Months Ended

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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