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DEFINED BENEFIT RETIREMENT PLAN (Tables) | 12 Months Ended
--- | ---
Dec. 30, 2023
Retirement Benefits [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 Plan for the period from December 31, 2022 to December 30, 2023 were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Projected |  | ​ | ​ |  | ​ | ​
​ | ​ | Benefit | ​ | Plan | ​ | Funded
​ | ​ | Obligation | ​ | Assets | ​ | Status
Fair value as of December 31, 2022 | ​ | $ | 435,711 | ​ | $ | 459,927 | ​ | $ | 24,216
Employer contributions | ​ | ​ | — | ​ | ​ | 17,345 | ​ |  | ​
Interest cost |  | ​ | 21,555 |  | ​ | — |  | ​ |
Actual return on plan assets |  | ​ | — |  | ​ | 10,966 |  | ​ |
Benefits paid |  | ​ | (20,683) |  | ​ | (20,683) |  | ​ |
Actuarial loss |  | ​ | 17,692 |  | ​ | — |  | ​ |
Currency translation |  | ​ | 23,488 |  | ​ | 25,612 |  | ​ |
Fair value as of December 30, 2023 | ​ | $ | 477,763 | ​ | $ | 493,167 | ​ | $ | 15,404
Changes in the PBO and fair value of plan assets for the Plan for the period from December 25, 2021 to December 31, 2022 were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Projected |  | ​ | ​ |  | ​ | ​
​ | ​ | Benefit | ​ | Plan | ​ | Funded
​ | ​ | Obligation | ​ | Assets | ​ | Status
Fair value as of December 25, 2021 | ​ | $ | 761,706 | ​ | $ | 761,170 | ​ | $ | (536)
Employer contributions | ​ | ​ | — | ​ | ​ | 17,155 | ​ |  | ​
Interest cost |  | ​ | 12,551 |  | ​ | — |  | ​ |
Actual return on plan assets |  | ​ | — |  | ​ | (228,493) |  | ​ |
Benefits paid |  | ​ | (20,175) |  | ​ | (20,175) |  | ​ |
Actuarial gain |  | ​ | (248,252) |  | ​ | — |  | ​ |
Currency translation |  | ​ | (70,119) |  | ​ | (69,730) |  | ​ |
Fair value as of December 31, 2022 | ​ | $ | 435,711 | ​ | $ | 459,927 | ​ | $ | 24,216
Schedule of Pre-Tax Amounts Recognized in Accumulated Other Comprehensive Income (Loss) | Pre-tax amounts recognized in accumulated other comprehensive income (loss) as of December 30, 2023 and December 31, 2022 consisted of actuarial losses, as follows:
​ | ​ | ​ | ​
Balance as of December 25, 2021 |  | $ | (60,940)
Actuarial loss | ​ |  | (2,915)
Amortization of prior service costs | ​ |  | 493
Currency translation gain | ​ |  | 5,451
Balance as of December 31, 2022 | ​ |  | (57,911)
Actuarial loss | ​ |  | (28,071)
Amortization of prior service costs | ​ |  | 498
Currency translation loss | ​ |  | (3,667)
Balance as of December 30, 2023 | ​ | $ | (89,151)
Schedule of Weighted-Average Actuarial Assumptions Used to Determine the Benefit Obligation | The weighted-average actuarial assumptions used to determine the benefit obligation as of December 30, 2023 and December 31, 2022 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 30, | ​ | December 31,
​ | ​ | 2023 |  | 2022
Discount rate |  | 4.50 | % | ​ | 4.80 | %
Salary increase |  | N/A |  | ​ | N/A | ​
Consumer Price Index ("CPI") inflation |  | 2.25 | % | ​ | 2.35 | %
Retail Price Index ("RPI") inflation |  | 3.05 | % | ​ | 3.25 | %
Schedule of Components of the Net Periodic Pension (Benefit) Expense | The components of the net periodic pension cost (benefit) for the fiscal years ended December 30, 2023 and December 31, 2022 were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fiscal Year Ended
​ | ​ | December 30, | ​ | December 31,
​ | ​ | 2023 |  | 2022
Interest cost | ​ | $ | 21,555 | ​ | $ | 12,551
Expected return on plan assets | ​ |  | (21,804) | ​ |  | (23,131)
Amortization of prior service costs | ​ |  | 498 | ​ |  | 493
Net periodic pension cost (benefit) | ​ | $ | 249 | ​ | $ | (10,087)
Schedule of Weighted-Average Actuarial Assumptions Used to Determine Expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 30, | ​ | December 31,
​ | ​ | 2023 |  | 2022
Discount rate for benefit obligations |  | 4.80 | % | ​ | 1.90 | %
Discount rate for interest cost | ​ | 4.90 | % | ​ | 1.80 | %
Expected return on plan assets |  | 4.85 | % | ​ | 3.48 | %
CPI inflation |  | 2.35 | % | ​ | 2.70 | %
RPI inflation |  | 3.25 | % | ​ | 3.30 | %
Schedule of Expected Pension Benefit Payments | The following table details expected pension benefit payments for the fiscal years 2024 through 2033:
​ | ​ | ​ | ​
2024 |  | $ | 21,641
2025 | ​ |  | 22,278
2026 | ​ |  | 23,042
2027 | ​ |  | 23,678
2028 | ​ |  | 24,442
2029 - 2033 | ​ |  | 133,540
Schedule of Pension Plan Assets Measured at Fair Value on a Recurring Basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurement Using: | ​ | ​ | ​
December 30, 2023 | ​ | Level 1 | ​ | Level 2 | ​ | ​ | Level 3 | ​ | Total
Plan assets at fair value: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Temporary cash investments | ​ | $ | 7,077 | ​ | $ | — | ​ | $ | — | ​ | $ | 7,077
Plan assets at NAV: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Leveraged inflation-linked gilt funds | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  | 216,405
Corporate bonds | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  | 74,440
Corporate stock | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  | 72,548
Secured income asset funds | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  | 122,697
Total plan assets at NAV | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  | 486,090
Total plan assets | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ | $ | 493,167
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurement Using: | ​ | ​ | ​
December 31, 2022 | ​ | Level 1 | ​ | Level 2 | ​ | ​ | Level 3 | ​ | Total
Plan assets at fair value: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Temporary cash investments | ​ | $ | 5,916 | ​ | $ | — | ​ | $ | — | ​ | $ | 5,916
Plan assets at NAV: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Leveraged inflation-linked gilt funds | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  | 206,555
Corporate bonds | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  | 63,953
Corporate stock | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  | 55,379
Secured income asset funds | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  | 128,124
Total plan assets at NAV | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  | 454,011
Total plan assets | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ | $ | 459,927

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