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DEFINED BENEFIT RETIREMENT PLAN (Tables) | 12 Months Ended
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Dec. 29, 2018
Defined Benefit Plan [Abstract] |
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 December 31, 2016 to December 30, 2017 were as follows: (19) DEFINED BENEFIT RETIREMENT PLAN (Continued)
| Projected Benefit Obligation |  | Plan Assets |  | Funded status
Fair Value at December 31, 2016 | $ | 696,137 |  |  | $ | 486,667 |  |  | $ | (209,470 | )
Employer contributions | — |  |  | 40,245 |  |  |
Interest cost | 18,152 |  |  | — |  |  |
Actual return on plan assets | — |  |  | 40,842 |  |  |
Benefits paid | (22,172 | ) |  | (22,172 | ) |  |
Actuarial loss | 25,154 |  |  | — |  |  |
Currency translation | 66,030 |  |  | 48,167 |  |  |
Fair Value at December 31, 2017 | $ | 783,301 |  |  | $ | 593,749 |  |  | $ | (189,552 | )
Changes in the PBO and fair value of plan assets for the pension plan for the period from December 30, 2017 to December 29, 2018 were as follows:
| Projected Benefit Obligation |  | Plan Assets |  | Funded status
Fair Value at December 30, 2017 | $ | 783,301 |  |  | $ | 593,749 |  |  | $ | (189,552 | )
Employer contributions | — |  |  | 1,537 |  |  |
Interest cost | 17,878 |  |  | — |  |  |
Prior service costs - GMP equalization | 12,056 |  |  |  |  |
Actual return on plan assets | — |  |  | (32,120 | ) |  |
Benefits paid | (28,207 | ) |  | (28,207 | ) |  |
Actuarial gain | (95,480 | ) |  | — |  |  |
Currency translation | (42,108 | ) |  | (31,423 | ) |  |
Fair Value at December 29, 2018 | $ | 647,440 |  |  | $ | 503,536 |  |  | $ | (143,904 | )
Projected Benefit Obligation and Fair Value of Plan Assets—The accumulated benefit obligation (ABO) is the present value of benefits earned to date, assuming no future compensation growth. As there are no active employees in the plan, the ABO is equal to the PBO for all years presented. The underfunded ABO represents the difference between the PBO and the fair value of plan assets.
Schedule of pre-tax amounts recognized in accumulated other comprehensive income (loss) |
Balance December 31, 2016 | $ | (156,878 | )
Actuarial loss | (1,789 | )
Currency translation loss | (9,583 | )
Balance December 30, 2017 | (168,250 | )
Actuarial gain | 44,760 |
Prior service costs - GMP equalization | (12,056 | )
Currency translation gain | 5,358 |
Balance December 29, 2018 | $ | (130,188 | )
Schedule of weighted-average actuarial assumptions used to determine the benefit obligation |
Percentages | 2018 |  | 2017
Discount rate | 2.90 | % |  | 2.55 | %
Salary increase | N/A |  |  | N/A |
CPI inflation | 2.20 | % |  | 2.20 | %
RPI inflation | 3.30 | % |  | 3.30 | %
Schedule of components of the net periodic pension (benefit) expense |
|  | 2018 |  | 2017
Net Periodic Benefit Cost: |  |  |
Interest cost | 17,878 |  |  | 18,152 |
Expected return on plan assets | (23,175 | ) |  | (20,486 | )
Amortization of actuarial loss | 3,046 |  |  | 2,982 |
Net periodic benefit expense (benefit) | $ | (2,251 | ) |  | $ | 648 |
Schedule of weighted-average actuarial assumptions used to determine expense |
Percentages |  | 2018 |  | 2017
Discount rate | 2.55 | % |  | 2.80 | %
Expected return on plan assets | 4.29 | % |  | 4.22 | %
CPI Inflation | 2.20 | % |  | 2.25 | %
RPI Inflation | 3.30 | % |  | 3.35 | %
Schedule of expected pension benefit payments |
2019 | $ | 27,790 |
2020 | 28,680 |
2021 | 29,695 |
2022 | 30,585 |
2023 | 31,600 |
Years 2023 - 2028 | 173,470 |
Schedule of pension plan assets measured at fair value on a recurring basis |
December 31, 2018 | Quoted Prices in Active Markets for Identical Inputs (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
Plan assets at fair value: |  |  |  |  |  |  |
Temporary cash investments | $ | 61,040 |  |  | $ | — |  |  | $ | — |  |  | $ | 61,040 |
Corporate stock | 506 |  |  | — |  |  | — |  |  | 506 |
Total plan net assets at fair value | $ | 61,546 |  |  | $ | — |  |  | $ | — |  |  | $ | 61,546 |
Plan assets at NAV: |  |  |  |  |  |  |
Leveraged inflation-linked gilt funds |  |  |  |  |  |  |  |  | 122,711 |
Corporate bonds |  |  |  |  |  |  |  |  | 80,454 |
Corporate stock |  |  |  |  |  |  |  |  | 183,750 |
Secured income asset funds |  |  |  |  |  |  |  | 55,075 |
Total plan assets at NAV |  |  |  |  |  |  | 441,990 |
Total plan assets |  |  |  |  |  |  | $ | 503,536 |
(19) DEFINED BENEFIT RETIREMENT PLAN (Continued)
December 31, 2017 | Quoted Prices in Active Markets for Identical Inputs (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
Plan assets at fair value: |  |  |  |  |  |  |
Temporary cash investments | $ | 17,915 |  |  | $ | — |  |  | $ | — |  |  | $ | 17,915 |
Corporate stock | 536 |  |  | — |  |  | — |  |  | 536 |
Total plan net assets at fair value | $ | 18,451 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,451 |
Plan assets at NAV: |  |  |  |  |  |  |
Leveraged inflation-linked gilt funds |  |  |  |  |  |  |  | 158,011 |
Corporate bonds |  |  |  |  |  |  |  | 88,905 |
Corporate stock |  |  |  |  |  |  |  | 212,505 |
Diversified growth funds |  |  |  |  |  |  |  | 115,877 |
Total plan assets at NAV |  |  |  |  |  |  | 575,298 |
Total plan assets |  |  |  |  |  |  | $ | 593,749 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=108410482&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=108410482&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=108410482&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=108410482&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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