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OTHER NON-CURRENT LIABILITIES | 12 Months Ended
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Dec. 29, 2024
Subclassifications of assets, liabilities and equities [abstract] |
OTHER NON-CURRENT LIABILITIES | OTHER NON-CURRENT LIABILITIES:
| December 29, 2024 |  | December 31, 2023
Employee benefit obligation - Statutory severance and pre-notice (a) | $ | 32,400 |  |  | $ | 31,003 |
Employee benefit obligation - Defined contribution plan (b) | 5,267 |  |  | 4,225 |
Provisions (c) | 10,541 |  |  | 11,080 |
Derivative liability (note 14(a)) | 8,602 |  |  | — |
| $ | 56,810 |  |  | $ | 46,308 |
(a) Statutory severance and pre-notice obligations:
| 2024 |  | 2023
Obligation, beginning of fiscal year | $ | 31,003 |  |  | $ | 42,127 |
Service cost | 14,972 |  |  | 16,700 |
Interest cost | 7,823 |  |  | 8,767 |
Actuarial loss (gain)(1) | 817 |  |  | (1,717) |
Foreign exchange gain | (2,597) |  |  | (501) |
Benefits paid | (19,618) |  |  | (34,373) |
Obligation, end of fiscal year | $ | 32,400 |  |  | $ | 31,003 |
(1) The actuarial loss (gain) in fiscal 2024 and 2023 respectively, is mainly due to changes in the actuarial assumptions used to determine the statutory severance obligations. Significant assumptions for the calculation of the statutory severance obligations included the use of a discount rate ranging between 9.3% and 11.7% (2023 - between 10.0% and 11.4%) and rates of compensation increases between 7.5% and 9.5% (2023 - 8.0% and 9.5%). A 1% increase in the discount rates would result in a corresponding decrease in the statutory severance obligations of $4.5 million, and a 1% decrease in the discount rates would result in a corresponding increase in the statutory severance obligations of $5.2 million. A 1% increase in the rates of compensation increases used would result in a corresponding increase in the statutory severance obligations of $5.6 million, and a 1% decrease in the rates of compensation increases used would result in a corresponding decrease in the statutory severance obligations of $4.9 million. The cumulative amount of actuarial losses recognized in other comprehensive income as at December 29, 2024 was $25.6 million (December 31, 2023 - $24.8 million) which have been reclassified to retained earnings in the period in which they were recognized. (b)Defined contribution plan: During fiscal 2024, defined contribution expenses were $6.7 million (2023 - $5.4 million). 12. OTHER NON-CURRENT LIABILITIES (continued): (c)Provisions: The following table presents the provisions for decommissioning and site restoration costs of the Company:
| 2024 |  | 2023
Balance, beginning of fiscal year | $ | 11,080 |  |  | $ | 10,707 |
Changes in estimates made during the fiscal year | (970) |  |  | (41) |
Accretion of interest | 431 |  |  | 414 |
Balance, end of fiscal year | $ | 10,541 |  |  | $ | 11,080 |
Provisions as at December 29, 2024 include estimated future costs of decommissioning and site restoration for certain assets located at the Company’s textile and sock facilities for which the timing of settlement is uncertain, but has been estimated to be in excess of nine years.

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- Definition The disclosure of other non-current liabilities. [Refer: Other non-current liabilities] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2024-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_10_e&doctype=Standard -URIDate 2024-03-27 + Details
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