XML 63 R38.htm IDEA: XBRL DOCUMENT
v3.23.3

Employee Pension and Profit Sharing Plans - (Tables) | 12 Months Ended
--- | ---
Sep. 29, 2023
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 2023, fiscal 2022 and fiscal 2021 (in thousands):
|  | Fiscal Year Ended
|  | September 29, 2023 |  | September 30, 2022 |  | October 1, 2021
Service cost |  | $ | 840 |  |  | $ | 1,045 |  |  | $ | 1,327 |
Interest cost |  | 6,521 |  |  | 3,887 |  |  | 4,736 |
Expected return on plan assets |  | (8,271) |  |  | (9,915) |  |  | (14,003) |
Settlements and curtailments(1) |  | — |  |  | — |  |  | 61,706 |
Amortization of prior service cost |  | 26 |  |  | 27 |  |  | 32 |
Recognized net loss |  | 446 |  |  | 4,574 |  |  | 3,829 |
Net periodic pension (income) expense |  | $ | (438) |  |  | $ | (382) |  |  | $ | 57,627 |
(1) | During fiscal 2021, the Company terminated certain Canadian single-employer defined benefit pension plans and recognized a non-cash loss of $60.9 million on the Consolidated Statements of Income (Loss).
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 plan assets: |  | September 29, 2023 |  | September 30, 2022
Fair value of plan assets, beginning |  | $ | 161,504 |  |  | $ | 239,013 |
Foreign currency translation |  | 10,991 |  |  | (29,381) |
Employer contributions |  | 1,184 |  |  | 5,710 |
Employee contributions |  | 47 |  |  | 88 |
Actual return on plan assets |  | (7,021) |  |  | (30,650) |
Benefits paid |  | (8,895) |  |  | (23,276) |
Fair value of plan assets, end |  | $ | 157,810 |  |  | $ | 161,504 |
Change in benefit obligation: |  |  |  |
Benefit obligation, beginning |  | $ | 122,628 |  |  | $ | 220,950 |
Foreign currency translation |  | 7,492 |  |  | (22,871) |
Service cost |  | 840 |  |  | 1,045 |
Interest cost |  | 6,521 |  |  | 3,887 |
Employee contributions |  | 47 |  |  | 88 |
Actuarial gain |  | (8,162) |  |  | (57,195) |
Benefits paid |  | (8,895) |  |  | (23,276) |
Benefit obligation, ending |  | 120,471 |  |  | 122,628 |
Funded Status at end of year |  | $ | 37,339 |  |  | $ | 38,876 |
Schedule of Amounts Recognized in Balance Sheet Including Accumulated Other Comprehensive Income | Amounts recognized on the Consolidated Balance Sheets consist of the following (in thousands):
|  | September 29, 2023 |  | September 30, 2022
Noncurrent benefit asset (included in Other Assets) |  | $ | 45,443 |  |  | $ | 47,436 |
Noncurrent benefit liability (included in Other Noncurrent Liabilities) |  | (8,104) |  |  | (8,560) |
Net actuarial loss (included in Accumulated other comprehensive loss before taxes) |  | 28,352 |  |  | 20,411 |
Schedule of Assumptions Used | The following weighted average assumptions were used to determine pension expense of the respective fiscal years:
|  | September 29, 2023 |  | September 30, 2022
Discount rate |  | 5.1 | % |  | 2.1 | %
Rate of compensation increase |  | 0.5 | % |  | 2.2 | %
Long-term rate of return on assets |  | 5.2 | % |  | 4.8 | %
The following weighted average assumptions were used to determine the funded status of the respective fiscal years:
|  | September 29, 2023 |  | September 30, 2022
Discount rate |  | 5.4 | % |  | 4.9 | %
Rate of compensation increase |  | 0.6 | % |  | 2.0 | %
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 29, 2023 and September 30, 2022 (in thousands):
|  | September 29, 2023 |  | September 30, 2022
Projected benefit obligation |  | $ | 8,104 |  |  | $ | 8,560 |
Accumulated benefit obligation |  | 8,104 |  |  | 8,560 |
Schedule of Allocation of Plan Assets | The fair value of plan assets for the Company's defined benefit pension plans as of September 29, 2023 and September 30, 2022 is as follows (see Note 16 for a description of the fair value levels) (in thousands):
|  | September 29, 2023 |  | Quoted prices in active markets Level 1 |  | Significant other observable inputs Level 2 |  | Significant unobservable inputs Level 3
Cash and cash equivalents |  | $ | 14,017 |  |  | $ | 14,017 |  |  | $ | — |  |  | $ | — |
Equity securities: |  |  |  |  |  |  |  |
Investment trusts |  | 1,591 |  |  | 1,591 |  |  | — |  |  | — |
Investment funds: |  |  |  |  |  |  |  |
Equity funds |  | 14,374 |  |  | — |  |  | 14,374 |  |  | — |
Fixed income funds |  | 126,899 |  |  | — |  |  | 126,899 |  |  | — |
Real estate |  | 929 |  |  | — |  |  | — |  |  | 929 |
Total |  | $ | 157,810 |  |  | $ | 15,608 |  |  | $ | 141,273 |  |  | $ | 929 |
|  | September 30, 2022 |  | Quoted prices in active markets Level 1 |  | Significant other observable inputs Level 2 |  | Significant unobservable inputs Level 3
Cash and cash equivalents |  | $ | 6,746 |  |  | $ | 6,746 |  |  | $ | — |  |  | $ | — |
Equity securities: |  |  |  |  |  |  |  |
Investment trusts |  | 1,641 |  |  | 1,641 |  |  | — |  |  | — |
Investment funds: |  |  |  |  |  |  |  |
Equity funds |  | 67,035 |  |  | — |  |  | 67,035 |  |  | — |
Fixed income funds |  | 76,275 |  |  | — |  |  | 76,275 |  |  | — |
Real estate |  | 9,807 |  |  | — |  |  | — |  |  | 9,807 |
Total |  | $ | 161,504 |  |  | $ | 8,387 |  |  | $ | 143,310 |  |  | $ | 9,807 |
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 2024 | $ | 6,589 |
Fiscal 2025 | 6,859 |
Fiscal 2026 | 6,855 |
Fiscal 2027 | 6,962 |
Fiscal 2028 | 7,560 |
Fiscal 2029 – 2033 | 41,709 |
Schedule of Multiemployer Plans | There have been no significant changes that affect the comparability of fiscal 2023, fiscal 2022 and fiscal 2021 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
2023 | 2022 | 2023 | 2022 | 2021 | Surcharge Imposed
National Retirement Fund | 13-6130178/ 001 | Critical | Critical | Implemented | $ | 3,994 |  | $ | 3,434 |  | $ | 2,579 |  | No | 8/4/2023 - 8/28/2026
UNITE HERE Retirement Fund | 82-0994119/ 001 | Critical and Declining | Critical and Declining | Implemented | 6,379 |  | 5,483 |  | 2,699 |  | No | 12/31/2022 - 1/1/2026
Local 1102 Retirement Trust | 13-1847329/ 001 | Critical and Declining | Critical and Declining | Implemented | 65 |  | 33 |  | 22 |  | No | 9/30/2024
Central States SE and SW Areas Pension Plan | 36-6044243/ 001 | Critical | Critical and Declining | Implemented | 4,439 |  | 4,167 |  | 3,994 |  | No | 3/8/2024 - 9/22/2028
Pension Plan for Hospital & Health Care Employees Philadelphia & Vicinity | 23-2627428/ 001 | Critical and Declining | Critical | Implemented | 333 |  | 353 |  | 354 |  | No | 1/31/2023
SEIU National Industry Pension Fund (1) | 52-6148540/ 001 | Critical | Critical | Implemented | 230 |  | 795 |  | 750 |  | No | 3/31/2021 - 6/30/2025
Retail Wholesale & Department Store International Union and Industry Pension Fund | 63-0708442/ 001 | Critical and Declining | Critical and Declining | Implemented | 466 |  | 462 |  | 510 |  | No | 7/5/2023 - 5/31/2027
Other funds |  |  |  |  | 17,617 |  | 16,113 |  | 15,995 |  |  |
Total contributions |  |  |  |  | $ | 33,523 |  | $ | 30,840 |  | $ | 26,903 |  |  |
(1) | Approximately 50% of the Company's participants in this fund are covered by a single CBA that expires on 4/14/2025.
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 |  | 12/31/2022, 12/31/2021 and 12/31/2020
National Retirement Fund |  | 12/31/2022 and 12/31/2020
Retail Wholesale & Department Store International Union and Industry Pension Fund |  | 12/31/2022, 12/31/2021 and 12/31/2020
Pension Plan for Hospital & Health Care Employees Philadelphia & Vicinity |  | 12/31/2022

X
- Definition Tabular disclosure of the amounts recorded on the consolidated balance sheets, including Accumulated Other Comprehensive Income, associated with various retirement benefit plans. + References No definition available. + Details
Name: | cik0_ScheduleOfAmountsRecognizedInBalanceSheetIncludingAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | cik0_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefit obligation and plan assets of defined benefit plan with accumulated benefit obligation in excess of plan assets. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480482/715-20-55-17 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-3 + Details
Name: | us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (d)(5) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (k) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 20 -Topic 715 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480482/715-20-55-17 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-4 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-2 + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about multiemployer plan. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480547/715-80-55-8 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-5 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-5 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-5 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-5 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (e)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-5 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (e)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-5 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-5 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-5 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-9 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-9 + Details
Name: | us-gaap_ScheduleOfMultiemployerPlansTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration