PENSION AND OTHER RETIREMENT PLANS Pension and Other Retirement Plans (Tables)

12 Months Ended

Jan. 03, 2016

Compensation and Retirement Disclosure [Abstract]

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

The following table presents a reconciliation of the pension benefit obligation, plan assets and the funded status of these pension plans:



	January 3, 2016			December 28, 2014
	(in millions)
Change in benefit obligation:
Benefit obligation at beginning of year	$	1,815.9		$	1,653.0
Service cost	57.9			48.9
Interest cost	78.0			84.3
Settlements	—			(69.4		)
Benefits paid ⁽¹⁾	(109.9		)	(154.9		)
Actuarial loss	(43.4		)	254.0
Past service cost	(15.2		)	—
Benefit obligation at end of year	1,783.3			1,815.9

Change in plan assets: ⁽¹⁾
Fair value of plan assets at beginning of year	1,214.7			1,122.8
Actual return on plan assets	(10.5		)	122.4
Employer contributions	200.0			167.1
Settlements	—			(69.4		)
Benefits paid	(81.6		)	(128.2		)
Fair value of plan assets at end of year	1,322.6			1,214.7
Funded status	$	(460.7	)	$	(601.2	)

Amounts recognized in the consolidated balance sheet:
Net long-term pension liability	(431.5		)	(574.9		)
Accrued expenses and other current liabilities	(30.1		)	(26.7		)
Other assets	0.9			0.4
Net amount recognized at end of year	$	(460.7	)	$	(601.2	)

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(1)

Excludes the assets and related activity of our non-qualified defined benefit pension plans. The fair value of assets related to our non-qualified plans was $111.4 million and $107.9 million as of January 3, 2016 and December 28, 2014, respectively. We made $31.6 million and $6.6 million of cash contributions to our non-qualified plans in 2015 and 2014, respectively. Benefits paid for our non-qualified plans were $28.3 million and $26.7 million in 2015 and 2014, respectively.

Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

The following table shows the pre-tax unrecognized items included as components of accumulated other comprehensive income (loss) related to our defined benefit pension plans as of the dates indicated:



	January 3, 2016			December 28, 2014
	(in millions)
Unrecognized actuarial loss	$	(252.9	)	$	(193.3	)
Unrecognized prior service credit	16.2			—

Schedule of Net Benefit Costs [Table Text Block]

The following table presents the components of the net periodic pension cost for the periods indicated:



	Successor									Predecessor
	Twelve Months Ended												Twelve Months Ended
	January 3, 2016			December 28, 2014			September 27 - December 29, 2013			April 29 - September 26, 2013			April 28, 2013
	(in millions)
Service cost	$	57.9		$	48.9		$	9.8		$	22.6		$	47.2
Interest cost	78.0			84.3			21.6			32.8			74.8
Expected return on plan assets	(95.2		)	(85.9		)	(19.5		)	(35.4		)	(78.8		)
Net amortization	3.6			—			—			24.8			52.9
Settlement loss ⁽¹⁾	—			3.3			—			—			—
Net periodic pension cost	$	44.3		$	50.6		$	11.9		$	44.8		$	96.1

Schedule of Assumptions Used [Table Text Block]

The following table shows our weighted average assumptions for the periods indicated:



	Successor						Predecessor
	Twelve Months Ended								Twelve Months Ended
	January 3, 2016		December 28, 2014		September 27 - December 29, 2013		April 29 - September 26, 2013		April 28, 2013
Discount rate to determine net periodic benefit cost ⁽¹⁾	4.55	%	5.25	%	5.30	%	4.45	%	4.75	%
Discount rate to determine benefit obligation	4.70		4.30		5.25		5.30		4.45
Expected long-term rate of return on plan assets	7.50		7.50		7.25		7.25		7.75
Rate of compensation increase	4.00		4.00		4.00		4.00		4.00

Schedule of Allocation of Plan Assets [Table Text Block]

The following table presents the fair value of our qualified pension plan assets by major asset category as of January 3, 2016 and December 28, 2014. The allocation of our pension plan assets is based on the target range presented in the following table.



	January 3, 2016		December 28, 2014		Target Range
Asset category:	(in millions)
Cash and cash equivalents, net of unsettled transactions	$	94.7	$	103.1	0-4%
Equity securities	502.0		459.4		30-50%
Debt securities	627.9		555.4		35-55%
Alternative assets	98.0		96.8		5-20%
Total	$	1,322.6	$	1,214.7

Schedule of Expected Benefit Payments [Table Text Block]

Expected future benefit payments for our defined benefit pension plans are as follows:



Year	(in millions)
2016	$	75.6
2017	79.7
2018	83.7
2019	87.8
2020	91.2
2021-2025	503.3

Schedule of Multiemployer Plans [Table Text Block]

The following table summarizes our contributions to multiemployer plans ⁽¹⁾:



		Twelve Months Ended						Twelve Months Ended
Plan	EIN / PN ⁽²⁾	January 3, 2016		December 28, 2014		April 29 - December 29, 2013		April 28, 2013		Expiration Dates of Collective Bargaining Agreements
				(in millions)
United Food and Commercial Workers International Union Industry Pension Fund	51-6055922 / 001	$	1.3	$	1.3	$	0.9	$	1.2	Multiple ⁽³⁾
Central Pension Fund of the International Union of Operating Engineers and Participating Employers	36-6052390 / 001	0.2		0.2		0.1		0.2		October 2018
IAM National Pension Fund National Pension Plan	51-6031295 / 002	0.1		0.1		0.1		0.1		February 2018
Total contributions to multiemployer plans		$	1.6	$	1.6	$	1.1	$	1.5

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⁽¹⁾	Contributions represent the amounts we contributed to the plans during the periods ending in the specified year. Our contributions to each plan did not exceed 5% of total plan contributions for any plan year presented.


⁽²⁾	Represents the Employer Identification Number and the three-digit plan number assigned to a plan by the Internal Revenue Service.


⁽³⁾	We have multiple collective bargaining agreements associated with the United Food and Commercial Workers International Union Industry Pension Fund. These agreements are currently scheduled to expire in May 2016, January 2018 and December 2018.