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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 29, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Components of Pre-Tax Stock-Based Compensation Expense

The components of pre-tax stock-based compensation expense included in SG&A expenses in the accompanying consolidated statement of income are as follows:

(In thousands)		December 29, 2018				December 30, 2017				December 31, 2016
RSU Awards		$	6,838			$	5,621			$	4,848
Employee Stock Purchase Plan Awards		189				182				170
Stock Option Awards		—				—				51
Total		$	7,027			$	5,803			$	5,069

Summary of Activity of the Unvested Restricted Stock Units

A summary of the activity of the Company's unvested RSUs in 2018 is as follows:

		Units (In thousands)			Weighted Average Grant- Date Fair Value
Unvested RSUs at December 30, 2017		199			$	49.32
Granted		73			$	98.12
Vested		(116	)		$	54.11
Unvested RSUs at December 29, 2018		156			$	68.57

Stock Option Activity

A summary of the Company's stock option activity in 2018 is as follows:

(In thousands, except per share amounts)		Number of Shares			Weighted Average Exercise Price				Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value (a)
Options Outstanding at December 30, 2017		307			$	20.72
Exercised		(8	)		$	15.51
Options Outstanding at December 29, 2018		299			$	20.86			2.5 years		$	18,029
Vested and Exercisable at December 29, 2018		299			$	20.86			2.5 years		$	18,029

(a) The closing price per share on the last trading day prior to year-end 2018 was $81.12.

Summary of Stock Option Exercises

A summary of the Company's stock option exercises in 2018 and 2016 are as follows:

(In thousands)		December 29, 2018				December 31, 2016
Total Intrinsic Value of Options Exercised		$	515			$	1,341
Cash Received from Options Exercised		$	127			$	1,189

Changes In Projected Benefit Obligations, Plan Assets, Unfunded Status, and Accumulated Other Comprehensive Items

The following table summarizes the change in benefit obligation; the change in plan assets; the unfunded status; and the amounts recognized in the accompanying consolidated balance sheet for the Company's U.S. and non-U.S. pension benefit plans and other post-retirement benefit plans. In accordance with ASU No. 2015-04, Compensation - Retirement Benefits (Topic 715), the Company elects to measure its plan assets and benefit obligations as of December 31.

		U.S. Pension								Non-U.S. Pension								Other Post-Retirement
(In thousands)		December 29, 2018				December 30, 2017				December 29, 2018				December 30, 2017				December 29, 2018				December 30, 2017
Change in Projected Benefit Obligation:
Projected benefit obligation at beginning of year		$	34,757			$	31,935			$	4,270			$	3,341			$	4,704			$	3,894
Acquisition		—				—				—				241				—				—
Service cost		699				685				173				148				213				175
Interest cost		1,193				1,231				126				114				172				170
Actuarial (gain) loss		(2,674		)		2,626				(368		)		270				(508		)		635
Benefits paid		(1,589		)		(1,720		)		(394		)		(265		)		(157		)		(175		)
Plan amendment		1,116				—				—				—				322				—
Effect of curtailment		(3,787		)		—				—				—				(1,075		)		—
Currency translation		—				—				(136		)		421				1				5
Projected benefit obligation at end of year		$	29,715			$	34,757			$	3,671			$	4,270			$	3,672			$	4,704
Change in Plan Assets:
Fair value of plan assets at beginning of year		$	31,754			$	28,985			$	557			$	426			$	35			$	28
Actual return on plan assets		(1,436		)		3,409				38				23				2				1
Employer contributions		—				1,080				528				355				164				179
Benefits paid		(1,589		)		(1,720		)		(394		)		(265		)		(157		)		(175		)
Currency translation		—				—				(3		)		18				—				2
Fair value of plan assets at end of year		$	28,729			$	31,754			$	726			$	557			$	44			$	35
Unfunded Status		$	(986	)		$	(3,003	)		$	(2,945	)		$	(3,713	)		$	(3,628	)		$	(4,669	)
Accumulated Benefit Obligation at End of Year		$	29,715			$	30,311			$	2,604			$	3,047			$	—			$	—
Amounts Included in the Balance Sheet:
Current liability		$	(986	)		$	—			$	(58	)		$	(205	)		$	(144	)		$	(173	)
Non-current liability		$	—			$	(3,003	)		$	(2,887	)		$	(3,508	)		$	(3,484	)		$	(4,496	)
Amounts Included in Accumulated Other Comprehensive Items Before Tax:
Unrecognized net actuarial loss		$	(3,205	)		$	(7,485	)		$	(674	)		$	(1,085	)		$	(69	)		$	(1,424	)
Unrecognized prior service cost		—				—				(45		)		(52		)		—				(439		)
		$	(3,205	)		$	(7,485	)		$	(719	)		$	(1,137	)		$	(69	)		$	(1,863	)

		U.S. Pension								Non-U.S. Pension								Other Post-Retirement
(In thousands)		December 29, 2018				December 30, 2017				December 29, 2018				December 30, 2017				December 29, 2018				December 30, 2017
Changes in Amounts Included in Accumulated Other Comprehensive Items Before Tax:
Net actuarial (loss) gain		$	(48	)		$	(544	)		$	368			$	(277	)		$	508			$	(634	)
Amortization of net actuarial loss		541				442				63				38				136				83
Amortization of prior service cost		—				53				6				6				86				88
Plan amendment		(1,116		)		—				—				—				(322		)		—
Effect of curtailment		3,787				—				—				—				1,075				—
Curtailment loss		1,116				—				—				—				309				—
Currency translation		—				—				(19		)		(78		)		2				(3		)
		$	4,280			$	(49	)		$	418			$	(311	)		$	1,794			$	(466	)

Weighted-Average Assumptions Used to Determine the Benefit Obligation and Net Periodic Benefit Cost

The weighted-average assumptions used to determine the benefit obligation are as follows:

		U.S. Pension						Non-U.S. Pension						Other Post-Retirement
							December 29, 2018												December 30, 2017			December 29, 2018			December 30, 2017			December 29, 2018			December 30, 2017
Discount rate		4.10	%		3.51	%		3.56	%		3.16	%		4.32	%		3.71	%
Rate of compensation increase		—			3.00	%		3.24	%		3.33	%		5.57	%		3.11	%

The weighted-average assumptions used to determine net periodic benefit cost are as follows:

		U.S. Pension									Non-U.S. Pension									Other Post-Retirement
										December 29, 2018																		December 30, 2017			December 31, 2016			December 29, 2018			December 30, 2017			December 31, 2016			December 29, 2018			December 30, 2017			December 31, 2016
Discount Rate		3.51	%		4.03	%		4.22	%		3.49	%		3.45	%		3.87	%		3.58	%		4.10	%		4.28	%
Expected Long-Term Return on Plan Assets		4.50	%		5.00	%		5.00	%		7.43	%		7.53	%		7.72	%		7.43	%		7.53	%		7.72	%
Rate of Compensation Increase		3.00	%		3.00	%		3.00	%		3.97	%		3.65	%		3.67	%		3.05	%		3.08	%		3.05	%

Benefit Obligations in Excess of Fair Value of Plan Assets

The projected benefit obligations and fair values of plan assets for the Company's pension plans with projected benefit obligations in excess of plan assets are as follows:

		U.S. Pension								Non-U.S. Pension
(In thousands)									December 29, 2018									December 30, 2017				December 29, 2018				December 30, 2017
Pension Plans with Projected Benefit Obligations in Excess of Plan Assets:
Projected benefit obligation		$	29,715			$	34,757			$	3,671			$	4,270
Fair value of plan assets		$	28,729			$	31,754			$	726			$	557

Accumulated Benefit Obligations in Excess of Plan Assets

The accumulated benefit obligations and fair values of plan assets for the Company's pension plans with accumulated benefit obligations in excess of plan assets are as follows:

		U.S. Pension								Non-U.S. Pension
(In thousands)									December 29, 2018									December 30, 2017				December 29, 2018				December 30, 2017
Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets:
Accumulated benefit obligation		$	29,715			$	—			$	2,604			$	3,047
Fair value of plan assets		$	28,729			$	—			$	726			$	557

Components of Net Periodic Benefit Cost (Income)

The components of net periodic benefit cost are as follows:

		U.S. Pension												Non-U.S. Pension												Other Post-Retirement
(In thousands)													December 29, 2018																								December 30, 2017				December 31, 2016				December 29, 2018				December 30, 2017				December 31, 2016				December 29, 2018				December 30, 2017				December 31, 2016
Service cost		$	699			$	685			$	723			$	173			$	148			$	102			$	213			$	175			$	130
Interest cost		1,193				1,231				1,273				126				114				107				172				170				156
Expected return on plan assets		(1,286		)		(1,326		)		(1,288		)		(42		)		(25		)		(25		)		(3		)		(2		)		(2		)
Amortization of net actuarial loss		541				442				498				63				38				39				136				83				50
Amortization of prior service cost		—				53				55				6				6				4				86				88				88
Settlement loss		—				—				—				—				—				—				—				—				114
Curtailment loss		1,116				—				—				—				—				—				309				—				—
Net Periodic Benefit Cost		$	2,263			$	1,085			$	1,261			$	326			$	281			$	227			$	913			$	514			$	536

Fair Values of Plan Assets

The fair values of the Company's noncontributory defined benefit retirement plan assets at year-end 2018 and year-end 2017 by asset category are as follows:

		December 29, 2018 Fair Value Measurement
(In thousands)		Quoted Prices in Active Markets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total
Retirement Plan Assets:
Mutual funds:
Money market funds		$	12,852			$	—			$	—			$	12,852
Fixed income funds		11,581				—				—				11,581
Investments measured at NAV														4,296
Total assets at fair value														$	28,729
Non-U.S. Pension Plan Assets:
Mutual funds		$	726			$	—			$	—			$	726
Total assets at fair value														$	726

		December 30, 2017 Fair Value Measurement
(In thousands)		Quoted Prices in Active Markets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total
Retirement Plan Assets:
Mutual funds:
Fixed income funds		$	17,560			$	—			$	—			$	17,560
Equity funds		4,763				—				—				4,763
Investments measured at NAV														9,431
Total assets at fair value														$	31,754
Non-U.S. Pension Plan Assets:
Mutual funds		$	557			$	—			$	—			$	557
Total assets at fair value														$	557

Target Asset Allocation of Plan Assets

The following target asset allocation has been established for the plan:

Asset Category		Minimum			Neutral			Maximum
Money market funds		0	%		45	%		100	%
Debt Securities		0	%		55	%		100	%
Total					100	%

Estimated Future Benefit Payments

Estimated future benefit payments during the next five years and in aggregate for the five years thereafter are as follows:

										Other Post-retirement
(In thousands)		U.S. Pension				Non-U.S. Pension
2019		$	29,715			$	194			$	151
2020		—				142				2,871
2021		—				211				133
2022		—				312				127
2023		—				330				114
2024-2028		—				2,117				480

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