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Fair value measurement (Tables) | 12 Months Ended
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Dec. 29, 2013
Fair Value Disclosures [Abstract] |
Financial Instruments Measured at Fair Value | The financial instruments measured at fair value in the accompanying consolidated balance sheets consist of the following:
Company Owned Assets
In thousands of dollars
Fair value measurement as of Dec. 29, 2013
| Level 1 | Level 2 | Level 3 | Total
Assets: |  |  |  |
Employee compensation related investments | $ | 28,117 |  | $ | — |  | $ | — |  | $ | 28,117 |
Sundry investments | 34,227 |  | — |  | — |  | 34,227 |
Total Assets | $ | 62,344 |  | $ | — |  | $ | — |  | $ | 62,344 |
Liabilities: |  |  |  |
Contingent consideration payable | $ | — |  | $ | — |  | $ | 32,267 |  | $ | 32,267 |
Total Liabilities | $ | — |  | $ | — |  | $ | 32,267 |  | $ | 32,267 |
In thousands of dollars
Fair value measurement as of Dec. 30, 2012
| Level 1 | Level 2 | Level 3 | Total
Assets: |  |  |  |
Employee compensation related investments | $ | 23,043 |  | $ | — |  | $ | — |  | $ | 23,043 |
Sundry investments | 29,090 |  | — |  | — |  | 29,090 |
Total Assets | $ | 52,133 |  | $ | — |  | $ | — |  | $ | 52,133 |
Liabilities: |  |  |  |
Contingent consideration payable | $ | — |  | $ | — |  | $ | 26,170 |  | $ | 26,170 |
Total Liabilities | $ | — |  | $ | — |  | $ | 26,170 |  | $ | 26,170 |
Fair Value of Pension Plan Assets by Level within Fair Value Hierarchy | The following tables set forth by level within the fair value hierarchy the fair values of the company’s pension plans assets:
Pension Plan Assets/Liabilities
In thousands of dollars
Fair value measurement as of Dec. 29, 2013(a)
| Level 1 | Level 2 | Level 3 | Total
Assets: |  |  |  |
Fixed income |  |  |  |
U.S. government-related securities | $ | — |  | $ | 3,313 |  | $ | — |  | $ | 3,313 |
Mortgage backed securities | — |  | 3,975 |  | — |  | 3,975 |
Other government bonds | — |  | 72,748 |  | — |  | 72,748 |
Corporate bonds | — |  | 29,834 |  | 1,253 |  | 31,087 |
Corporate stock | 892,883 |  | 158,667 |  | — |  | 1,051,550 |
Real estate | — |  | — |  | 98,909 |  | 98,909 |
Interest in common/collective trusts |  |  |  |
Equities | — |  | 750,006 |  | — |  | 750,006 |
Fixed income | — |  | 145,897 |  | — |  | 145,897 |
Interest in reg. invest. companies | 281,029 |  | 42,610 |  | — |  | 323,639 |
Interest in 103-12 investments | — |  | 28,691 |  | — |  | 28,691 |
Partnership/joint venture interests | — |  | 36,402 |  | 148,550 |  | 184,952 |
Hedge funds | — |  | 22,685 |  | 249,991 |  | 272,676 |
Derivative contracts | 22 |  | 10,956 |  | 163 |  | 11,141 |
Total | $ | 1,173,934 |  | $ | 1,305,784 |  | $ | 498,866 |  | $ | 2,978,584 |
Liabilities: |  |  |  |
Derivative liabilities | $ | (8 | ) | $ | (9,486 | ) | $ | (2,008 | ) | $ | (11,502 | )
Total | $ | (8 | ) | $ | (9,486 | ) | $ | (2,008 | ) | $ | (11,502 | )
Cash and other | 60,271 |  | 1,114 |  | — |  | 61,385 |
Total net fair value of plan assets | $ | 1,234,197 |  | $ | 1,297,412 |  | $ | 496,858 |  | $ | 3,028,467 |
(a) | The company uses a Dec. 31 measurement date for its retirement plans.
In thousands of dollars
Fair value measurement as of Dec. 30, 2012(a)
| Level 1 | Level 2 | Level 3 | Total
Assets: |  |  |  |
Fixed income |  |  |  |
U.S. government-related securities | $ | — |  | $ | 100,140 |  | $ | — |  | $ | 100,140 |
Mortgage backed securities | — |  | 71,641 |  | — |  | 71,641 |
Other government bonds | — |  | 30,317 |  | — |  | 30,317 |
Corporate bonds | — |  | 136,640 |  | 797 |  | 137,437 |
Corporate stock | 722,619 |  | 818 |  | — |  | 723,437 |
Real estate | — |  | — |  | 97,385 |  | 97,385 |
Interest in common/collective trusts |  |  |  |
Equities | — |  | 604,003 |  | — |  | 604,003 |
Fixed income | — |  | 193,620 |  | — |  | 193,620 |
Interest in reg. invest. companies | 104,196 |  | 24,222 |  | — |  | 128,418 |
Interest in 103-12 investments | — |  | 84,956 |  | — |  | 84,956 |
Partnership/joint venture interests | — |  | — |  | 130,995 |  | 130,995 |
Hedge funds | — |  | 77,520 |  | 158,924 |  | 236,444 |
Derivative contracts | 33 |  | 54,924 |  | 500 |  | 55,457 |
Total | $ | 826,848 |  | $ | 1,378,801 |  | $ | 388,601 |  | $ | 2,594,250 |
Liabilities: |  |  |  |
Derivative liabilities | $ | (21 | ) | $ | (56,339 | ) | $ | (2,008 | ) | $ | (58,368 | )
Liability to purchase U.S. government and other securities | — |  | (26,882 | ) | — |  | (26,882 | )
Total | $ | (21 | ) | $ | (83,221 | ) | $ | (2,008 | ) | $ | (85,250 | )
Cash and other | 36,295 |  | 7,021 |  | — |  | 43,316 |
Total net fair value of plan assets | $ | 863,122 |  | $ | 1,302,601 |  | $ | 386,593 |  | $ | 2,552,316 |
(a) | The company uses a Dec. 31 measurement date for its retirement plans.
Summary of Changes in Fair Value of Pension Plan Assets and Liabilities, Categorized as Level 3 | The tables below set forth a summary of changes in the fair value of the company’s pension plan assets and liabilities, categorized as Level 3, for the fiscal year ended Dec. 29, 2013 and Dec. 30, 2012:
Pension Plan Assets/Liabilities |  |  |  |  |  |
In thousands of dollars |  |  |  |  |  |
For the year ended Dec. 29, 2013 |  |  |  |  |  |
|  | Actual Return on Plan Assets |  |  |
| Balance at beginning of year | Relating to assets still held at report date | Relating to assets sold during the period | Purchases, sales, and settlements | Transfers in and/or out of Level 3(1) | Balance at end of year
Assets: |  |  |  |  |  |
Fixed income |  |  |  |  |  |
Corporate bonds | $ | 797 |  | $ | 199 |  | $ | (7 | ) | $ | 264 |  | $ | — |  | $ | 1,253 |
Real estate | 97,385 |  | 1,865 |  | — |  | (341 | ) | — |  | 98,909 |
Partnership/joint venture interests | 130,995 |  | 11,972 |  | 13,327 |  | (9,576 | ) | 1,832 |  | 148,550 |
Hedge funds | 158,924 |  | 17,613 |  | 803 |  | 74,483 |  | (1,832 | ) | 249,991 |
Derivative contracts | 500 |  | (376 | ) | — |  | 39 |  | — |  | 163 |
Total | $ | 388,601 |  | $ | 31,273 |  | $ | 14,123 |  | $ | 64,869 |  | $ | — |  | $ | 498,866 |
Liabilities: |  |  |  |  |  |
Derivative liabilities | $ | (2,008 | ) | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | (2,008 | )
(1) | The company’s policy is to recognize transfers in and transfers out as of the beginning of the reporting period.
Pension Plan Assets/Liabilities (continued) |  |  |  |  |
In thousands of dollars |  |  |  |  |  |
For the year ended Dec. 30, 2012 |  |  |  |  |  |
|  | Actual Return on Plan Assets |  |  |
| Balance at beginning of year | Relating to assets still held at report date | Relating to assets sold during the period | Purchases, sales, and settlements | Transfers in and/or out of Level 3(1) | Balance at end of year
Assets: |  |  |  |  |  |
Fixed income |  |  |  |  |  |
Mortgage-backed securities | $ | 1,271 |  | $ | — |  | $ | — |  | $ | — |  | $ | (1,271 | ) | $ | — |
Other government bonds | 1,441 |  | — |  | — |  | — |  | (1,441 | ) | — |
Corporate bonds | 2,070 |  | 83 |  | (589 | ) | — |  | (767 | ) | 797 |
Real estate | 93,620 |  | (4,788 | ) | — |  | 8,553 |  | — |  | 97,385 |
Partnership/joint venture interests | 128,121 |  | (1,817 | ) | (20,781 | ) | 25,472 |  | — |  | 130,995 |
Hedge funds | 156,016 |  | 9,590 |  | (8,271 | ) | 1,589 |  | — |  | 158,924 |
Derivative contracts | 235 |  | 265 |  | — |  | — |  | — |  | 500 |
Total | $ | 382,774 |  | $ | 3,333 |  | $ | (29,641 | ) | $ | 35,614 |  | $ | (3,479 | ) | $ | 388,601 |
Liabilities: |  |  |  |  |  |
Derivative liabilities | $ | (2,517 | ) | $ | 16 |  | $ | (4 | ) | $ | — |  | $ | 497 |  | $ | (2,008 | )
(1) | The company’s policy is to recognize transfers in and transfers out as of the beginning of the reporting period.
Fair Value Measurements, Nonrecurring | The following tables summarize the non-financial assets measured at fair value on nonrecurring basis in the accompanying consolidated balance sheet as of Dec. 29, 2013 and Dec. 30, 2012:
Non-Financial Assets
In thousands of dollars
Fair value measurement as of Dec. 29, 2013
| Level 1 | Level 2 | Level 3 | Total
Asset held for sale - Quarter 4 | $ | — |  | $ | — |  | $ | 395,851 |  | $ | 395,851 |
Goodwill - Quarter 4 | $ | — |  | $ | — |  | $ | 21,790 |  | $ | 21,790 |
Non-Financial Assets
In thousands of dollars
Fair value measurement as of Dec. 30, 2012
| Level 1 | Level 2 | Level 3 | Total
Asset held for sale - Quarter 4 | $ | — |  | $ | — |  | $ | 17,508 |  | $ | 17,508 |
Goodwill - Quarter 4 | $ | — |  | $ | — |  | $ | 29,610 |  | $ | 29,610 |

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19296-110258 + Details
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