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Fair value measurement (Tables)
 12 Months Ended
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