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DEFINED BENEFIT RETIREMENT PLAN (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2011
DEFINED BENEFIT RETIREMENT PLAN |
Schedule of changes in PBO and fair value of plan assets for pension plan |
Changes in the PBO and fair value of plan assets for the pension plan for the period from May 12, 2010 to December 25, 2010 were as follows:
|  | Projected Benefit Obligation |  | Plan Assets |  | Funded status |
--- | --- | --- | --- | --- | --- | --- | ---
Fair value at May 12, 2010 |  | $ | 478,993 |  | $ | 351,056 |  | $ | (127,937 | )
Service cost |  |  | 154 |  |  | — |  |  |  |
Employer contributions |  |  | — |  |  | 938 |  |  |  |
Interest cost |  |  | 16,654 |  |  | — |  |  |  |
Actual return on plan assets |  |  | — |  |  | 11,275 |  |  |  |
Benefits paid |  |  | (5,698 | ) |  | (5,698 | ) |  |  |
Actuarial gain |  |  | (28,952 | ) |  | — |  |  |  |
Currency translation |  |  | 2,656 |  |  | 2,065 |  |  |  |
Fair Value at December 25, 2010 |  | $ | 463,807 |  | $ | 359,636 |  | $ | (104,171 | )
Changes in the PBO and fair value of plan assets for the pension plan for the period from December 26, 2010 to December 31, 2011 were as follows:
|  | Projected Benefit Obligation |  | Plan Assets |  | Funded status |
--- | --- | --- | --- | --- | --- | --- | ---
Fair value at December 25, 2010 |  | $ | 463,807 |  | $ | 359,636 |  | $ | (104,171 | )
Service cost |  |  | — |  |  | — |  |  |  |
Employer contributions |  |  | — |  |  | 11,860 |  |  |  |
Interest cost |  |  | 25,643 |  |  | — |  |  |  |
Actual return on plan assets |  |  | — |  |  | 67,474 |  |  |  |
Benefits paid |  |  | (11,539 | ) |  | (11,539 | ) |  |  |
Actuarial loss |  |  | 16,187 |  |  | — |  |  |  |
Currency translation |  |  | (1,579 | ) |  | (2,936 | ) |  |  |
Fair Value at December 31, 2011 |  | $ | 492,519 |  | $ | 424,495 |  | $ | (68,024 | )
Schedule of pre-tax amounts recognized in accumulated other comprehensive income (loss) |
Balance December 26, 2009 |  | $ | — |
Actuarial gain |  |  | 28,952 |
Balance December 25, 2010 |  |  | 28,952 |
Actuarial gain |  |  | 31,093 |
Currency translation loss |  |  | (31 | )
Balance December 31, 2011 |  |  | 60,014 |
Schedule of weighted-average actuarial assumptions used to determine the benefit obligation |
Percentages |  | 2011 |  | 2010 |
--- | --- | --- | --- | --- | ---
Discount rate |  |  | 4.80 | % |  | 5.50 | %
Salary increase |  |  | N/A |  |  | 4.50 | %
Inflation |  |  | 2.30 | % |  | 2.80 | %
Schedule of components of the net periodic pension expense |
|  | 2011 |  | 2010 |
--- | --- | --- | --- | --- | ---
Net Periodic Benefit Cost: |  |  |  |  |  |  |
Service cost |  | $ | — |  | $ | 154 |
Interest cost |  |  | 25,643 |  |  | 16,654 |
Expected return on plan assets |  |  | (20,194 | ) |  | (10,934 | )
Net periodic benefit expense |  | $ | 5,449 |  | $ | 5,874 |
Schedule of weighted-average actuarial assumptions used to determine expense |
Percentages |  | 2011 |  | 2010 |
--- | --- | --- | --- | --- | ---
Discount rate |  |  | 5.50 | % |  | 5.60 | %
Expected return on plan assets |  |  | 5.40 | % |  | 5.51 | %
Salary increase |  |  | N/A |  |  | 4.70 | %
Inflation |  |  | 3.50 | % |  | 3.70 | %
Schedule of expected pension benefit payments |
2012 |  | $ | 11,414 |
2013 |  |  | 11,723 |
2014 |  |  | 12,186 |
2015 |  |  | 12,494 |
2016 |  |  | 12,803 |
Years 2017 - 2021 |  |  | 70,029 |
Schedule of pension plan assets measured at fair value on a recurring basis |
December 31, 2011 |  | Quoted Prices in Active Markets for Identical Inputs (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total |
--- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Plan net assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Temporary cash investments |  | $ | — |  | $ | 1,556 |  | $ | — |  | $ | 1,556 |
Index-linked gilts |  |  | — |  |  | 97,422 |  |  | — |  |  | 97,422 |
Corporate bonds |  |  | — |  |  | 309,206 |  |  | — |  |  | 309,206 |
Corporate stock |  |  | — |  |  | 16,276 |  |  | — |  |  | 16,276 |
Other investments |  |  | — |  |  | 35 |  |  | — |  |  | 35 |
Total plan net assets at fair value |  | $ | — |  | $ | 424,495 |  | $ | — |  | $ | 424,495 |
December 25, 2010 |  | Quoted Prices in Active Markets for Identical Inputs (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total |
--- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Plan net assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Temporary cash investments |  | $ | — |  | $ | 1,397 |  | $ | — |  | $ | 1,397 |
Index-linked gilts |  |  | — |  |  | 50,803 |  |  | — |  |  | 50,803 |
Corporate bonds |  |  | — |  |  | 290,303 |  |  | — |  |  | 290,303 |
Corporate stock |  |  | — |  |  | 16,986 |  |  | — |  |  | 16,986 |
Other investments |  |  | — |  |  | 147 |  |  | — |  |  | 147 |
Total plan net assets at fair value |  | $ | — |  | $ | 359,636 |  | $ | — |  | $ | 359,636 |

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- 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://www.xbrl.org/2003/role/presentationRef -Topic 715 -SubTopic 20 -Publisher FASB -Number -Article -Subparagraph (d)(5) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920 + Details
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- 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://www.xbrl.org/2003/role/presentationRef -Topic 715 -SubTopic 20 -Publisher FASB -Number -Article -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920 + Details
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- 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://www.xbrl.org/2003/role/presentationRef -Topic 715 -SubTopic 20 -Publisher FASB -Number -Article -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of net funded status of pension plans and/or other employee benefit plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 715 -SubTopic 20 -Publisher FASB -Number -Article -Subparagraph (c) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References No definition available. + Details
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