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Employee Retirement Plans (Tables) | 12 Months Ended
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Dec. 28, 2024
Retirement Benefits [Abstract] |
Schedule of Defined Benefit Plans Disclosures | A summary of the plans’ net periodic pension cost, benefit obligations, funded status, and net balance sheet position is as follows (dollars in thousands)
| Fiscal 2024 |  | Fiscal 2023
| U.S. Plans |  | Non-U.S. Plans |  | U.S. Plans |  | Non-U.S. Plans
Net Periodic Pension Cost (Benefit): |  |  |  |  |  |  |
Interest cost | 1,267 |  |  | 43,892 |  |  | 1,315 |  |  | 46,046 |
Expected return on assets | (926) |  |  | (62,289) |  |  | (873) |  |  | (58,766) |
Amortization of net loss | 281 |  |  | 204 |  |  | 420 |  |  | 186 |
Amortization of prior service cost | — |  |  | 2,674 |  |  | — |  |  | 2,601 |
| $ | 622 |  |  | $ | (15,519) |  |  | $ | 862 |  |  | $ | (9,933) |
Change in Benefit Obligation: |  |  |  |  |  |  |
Benefit obligation – beginning of year | $ | 27,659 |  |  | $ | 989,106 |  |  | $ | 27,550 |  |  | $ | 946,153 |
Interest on benefit obligations | 1,267 |  |  | 43,892 |  |  | 1,315 |  |  | 46,046 |
Actuarial (gain) loss | (1,598) |  |  | (94,002) |  |  | 539 |  |  | 1,970 |
Net benefit payments | (1,747) |  |  | (61,506) |  |  | (1,745) |  |  | (59,018) |
Exchange effect | — |  |  | (10,348) |  |  | — |  |  | 53,955 |
Benefit obligation – end of year | $ | 25,581 |  |  | $ | 867,142 |  |  | $ | 27,659 |  |  | $ | 989,106 |
Change in Plan Assets: |  |  |  |  |  |  |
Plan assets at fair value – beginning of year | $ | 15,751 |  |  | $ | 1,027,421 |  |  | $ | 14,998 |  |  | $ | 943,757 |
Company contributions | 1,244 |  |  | 103 |  |  | 1,114 |  |  | 6,012 |
Investment gain | 760 |  |  | 4,086 |  |  | 1,384 |  |  | 81,945 |
Benefit payments and plan expenses | (1,747) |  |  | (61,506) |  |  | (1,745) |  |  | (59,018) |
Exchange effect | — |  |  | (11,755) |  |  | — |  |  | 54,725 |
Plan assets at fair value – end of year | $ | 16,008 |  |  | $ | 958,349 |  |  | $ | 15,751 |  |  | $ | 1,027,421 |
Funded Status: |  |  |  |  |  |  |
Unfunded benefit obligation | $ | (9,573) |  |  | $ | 91,207 |  |  | $ | (11,908) |  |  | $ | 38,315 |
Amounts recognized in balance sheet at year end: |  |  |  |  |  |  |
Accrued pension benefits | $ | (9,573) |  |  | $ | 91,207 |  |  | $ | (11,908) |  |  | $ | 38,315 |
| Fiscal 2024 |  | Fiscal 2023
| U.S. Plans |  | Non-U.S. Plans |  | U.S. Plans |  | Non-U.S. Plans
Pre-tax components in accumulated other comprehensive income at period end: |  |  |  |  |  |  |
Net actuarial loss | $ | 297 |  |  | $ | 64,371 |  |  | $ | 2,011 |  |  | $ | 103,705 |
Pre-tax components recognized in other comprehensive income for the period: |  |  |  |  |  |  |
Current year actuarial (gain) loss | $ | (1,432) |  |  | $ | (36,008) |  |  | $ | 28 |  |  | $ | (17,079) |
Actuarial loss recognized | (281) |  |  | (205) |  |  | (420) |  |  | (150) |
Prior service cost recognized | — |  |  | (3,121) |  |  | — |  |  | (360) |
Total amount recognized | $ | (1,713) |  |  | $ | (39,334) |  |  | $ | (392) |  |  | $ | (17,589) |
Accumulated Benefit Obligation | $ | 25,581 |  |  | $ | 867,119 |  |  | $ | 27,659 |  |  | $ | 989,081 |
Salary growth rate | n/a |  | 0.8 | % |  | n/a |  | 0.8 | %
Assumed discount rate | 5.4 | % |  | 5.5 | % |  | 4.8 | % |  | 4.6 | %
Expected return on assets | 6.0 | % |  | 5.9 | % |  | 6.0 | % |  | 6.2 | %
Schedule of Allocation of Plan Assets | The assets of the plans were invested in the following classes of securities (none of which were securities of the company): U.S. Plans:
| Target Allocation |  | Percentage of Plan Assets
|  |  | 2024 |  | 2023
Equity | 48 | % |  | 51 | % |  | 43 | %
Fixed income | 40 |  |  | 39 |  |  | 42 |
Money market | 4 |  |  | 2 |  |  | 6 |
Other (real estate investment trusts & commodities contracts) | 8 |  |  | 8 |  |  | 9 |
| 100 | % |  | 100 | % |  | 100 | %
Non-U.S. Plans:
| Target Allocation |  | Percentage of Plan Assets
|  |  | 2024 |  | 2023
Equity | 17 | % |  | 7 | % |  | 11 | %
Fixed income | 75 |  |  | 94 |  |  | 69 |
Alternatives/Other | 6 |  |  | (18) |  |  | 5 |
Real Estate | 2 |  |  | 10 |  |  | 9 |
Cash and cash equivalents | — |  |  | 7 |  |  | 6 |
| 100 | % |  | 100 | % |  | 100 | %
Pension Plans Fair Value Of Investments | The following tables summarize the basis used to measure the pension plans’ assets at fair value as of December 28, 2024 and December 30, 2023 (in thousands): U.S. Plans:
|  | Fiscal 2024 |  | Fiscal 2023
Asset Category |  | Total |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Net Asset Value |  | Total |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Net Asset Value
Short Term Investment Fund (a) |  | $ | 414 |  |  | $ | — |  |  | $ | 414 |  |  | $ | 920 |  |  | $ | — |  |  | $ | 920 |
Equity Securities: |  |  |  |  |  |  |  |  |  |  |  |
Large Cap |  | 3,805 |  |  | 3,805 |  |  | — |  |  | 2,862 |  |  | 2,862 |  |  | — |
Mid Cap |  | 402 |  |  | 402 |  |  | — |  |  | 373 |  |  | 373 |  |  | — |
Small Cap |  | 393 |  |  | 393 |  |  | — |  |  | 388 |  |  | 388 |  |  | — |
International |  | 3,622 |  |  | 3,622 |  |  | — |  |  | 3,218 |  |  | 3,218 |  |  | — |
Fixed Income: |  |  |  |  |  |  |  |  |  |  |  |
Government/Corporate |  | 4,528 |  |  | 4,528 |  |  | — |  |  | 4,776 |  |  | 4,776 |  |  | — |
High Yield |  | 1,143 |  |  | 1,143 |  |  | — |  |  | 1,063 |  |  | 1,063 |  |  | — |
Other |  | 484 |  |  | 484 |  |  | — |  |  | 705 |  |  | 705 |  |  | — |
Alternative: |  |  |  |  |  |  |  |  |  |  |  |
Global Real Estate Investment Trust |  | 926 |  |  | 926 |  |  | — |  |  | 663 |  |  | 663 |  |  | — |
Commodities Contracts |  | 291 |  |  | 291 |  |  | — |  |  | 783 |  |  | 783 |  |  | — |
Total |  | $ | 16,008 |  |  | $ | 15,594 |  |  | $ | 414 |  |  | $ | 15,751 |  |  | $ | 14,831 |  |  | $ | 920 |
(a)Represents collective short term investment fund, composed of high-grade money market instruments with short maturities. Non-U.S. Plans:
|  | Fiscal 2024
Asset Category |  | Total |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Net Asset Value
Cash and cash equivalents |  | $ | 64,699 |  |  | $ | 7,881 |  |  | $ | 45,734 |  |  | $ | — |  |  | $ | 11,084 |
Equity Securities: |  |  |  |  |  |  |  |  |  |
UK |  | 3,511 |  |  | 976 |  |  | — |  |  | — |  |  | 2,535 |
International: |  |  |  |  |  |  |  |  |  |
Developed |  | 57,153 |  |  | 1,531 |  |  | — |  |  | — |  |  | 55,622 |
Emerging |  | 13,390 |  |  | 203 |  |  | — |  |  | — |  |  | 13,187 |
Unquoted/Private Equity |  | 2,304 |  |  | — |  |  | — |  |  | — |  |  | 2,304 |
Fixed Income: |  |  |  |  |  |  |  |  |  |
Government/Corporate: |  |  |  |  |  |  |  |  |  |
UK |  | 526,394 |  |  | 9,618 |  |  | 9,388 |  |  | — |  |  | 507,388 |
International |  | 93,888 |  |  | — |  |  | 63,482 |  |  | — |  |  | 30,406 |
Index Linked |  | 300,098 |  |  | 1,480 |  |  | — |  |  | — |  |  | 298,618 |
Other |  | 315 |  |  | — |  |  | — |  |  | — |  |  | 315 |
Real Estate: |  |  |  |  |  |  |  |  |  |
Direct |  | 92,388 |  |  | — |  |  | 92,388 |  |  | — |  |  | — |
Indirect |  | 3,184 |  |  | 33 |  |  | — |  |  | — |  |  | 3,151 |
Leveraged Loans |  | 28,292 |  |  | — |  |  | — |  |  | — |  |  | 28,292 |
Alternative/Other |  | (227,267) |  |  | — |  |  | 613 |  |  | — |  |  | (227,880) |
Total |  | $ | 958,349 |  |  | $ | 21,722 |  |  | $ | 211,605 |  |  | $ | — |  |  | $ | 725,022 |
|  | Fiscal 2023
Asset Category |  | Total |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Net Asset Value
Cash and cash equivalents |  | $ | 64,285 |  |  | $ | 10,175 |  |  | $ | 25,777 |  |  | $ | — |  |  | $ | 28,333 |
Equity Securities: |  |  |  |  |  |  |  |  |  |
UK |  | 3,665 |  |  | 45 |  |  | — |  |  | — |  |  | 3,620 |
International: |  |  |  |  |  |  |  |  |  |
Developed |  | 89,498 |  |  | 1,738 |  |  | — |  |  | — |  |  | 87,760 |
Emerging |  | 20,698 |  |  | 168 |  |  | — |  |  | — |  |  | 20,530 |
Unquoted/Private Equity |  | 282 |  |  | — |  |  | — |  |  | — |  |  | 282 |
Fixed Income: |  |  |  |  |  |  |  |  |  |
Government/Corporate: |  |  |  |  |  |  |  |  |  |
UK |  | 247,618 |  |  | 11,049 |  |  | — |  |  | — |  |  | 236,569 |
International |  | 133,279 |  |  | — |  |  | — |  |  | — |  |  | 133,279 |
Index Linked |  | 322,408 |  |  | 2,088 |  |  | — |  |  | — |  |  | 320,320 |
Other |  | 3,222 |  |  | — |  |  | — |  |  | — |  |  | 3,222 |
Convertible Bonds |  |  |  |  |  |  |  |  |  |
Real Estate: |  |  |  |  |  |  |  |  |  |
Direct |  | 91,993 |  |  | — |  |  | 91,993 |  |  | — |  |  | — |
Indirect |  | 1,768 |  |  | 37 |  |  | — |  |  | — |  |  | 1,731 |
Hedge Fund Strategy: |  |  |  |  |  |  |  |  |  |
Equity Long/Short |  | 8,361 |  |  | — |  |  | — |  |  | — |  |  | 8,361 |
Arbitrage & Event |  | 10,731 |  |  | — |  |  | — |  |  | — |  |  | 10,731 |
Directional Trading & Fixed Income |  | 315 |  |  | — |  |  | — |  |  | — |  |  | 315 |
Cash & Other |  | 162,812 |  |  | — |  |  | — |  |  | — |  |  | 162,812 |
Direct Sourcing |  | 913 |  |  | — |  |  | — |  |  | — |  |  | 913 |
Leveraged Loans |  | 14,475 |  |  | — |  |  | — |  |  | — |  |  | 14,475 |
Alternative/Other |  | (148,902) |  |  | 1,060 |  |  | — |  |  | — |  |  | (149,962) |
Total |  | $ | 1,027,421 |  |  | $ | 26,360 |  |  | $ | 117,770 |  |  | $ | — |  |  | $ | 883,291 |
Schedule of Expected Benefit Payments | Estimated future benefit payments under the plans are as follows (dollars in thousands):
| U.S. Plans |  | Non-U.S. Plans
2025 | $ | 1,909 |  |  | $ | 60,123 |
2026 | 1,929 |  |  | 60,248 |
2027 | 1,941 |  |  | 60,734 |
2028 | 1,952 |  |  | 61,009 |
2029 through 2034 | 11,412 |  |  | 362,589 |

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- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 20 -Topic 715 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480482/715-20-55-17 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-4 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-2 + Details
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