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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 28, 2013
North America |
Changes in Pension and Other Postretirement Benefit Obligations, Plan Assets and Funded Status | The following table provides a reconciliation of changes in the projected benefit obligation and the fair value of plan assets from the Merger date through year-end, as well as the funded status of the plan to amounts recognized on the Company’s Consolidated Balance Sheet:
(In millions) |  | Pension Benefits |  |  | Other Benefits |
Changes in projected benefit obligation: |  |  |  |  |  |  |  |
Obligation at beginning of period |  | $ | 1,135 |  |  | $ | 17 |
Service cost |  |  | — |  |  |  | — |
Interest cost |  |  | 7 |  |  |  | — |
Actuarial gain |  |  | (12 | ) |  |  | — |
Benefits paid |  |  | (8 | ) |  |  | — |
Obligation at end of period |  | $ | 1,122 |  |  | $ | 17 |
Change in plan assets: |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of period |  | $ | 972 |  |  | $ | — |
Actual return on plan assets |  |  | 22 |  |  |  | — |
Benefits paid |  |  | (8 | ) |  |  | — |
Fair value of plan assets at end of period |  |  | 986 |  |  |  | — |
Net liability recognized at end of period |  | $ | (136 | ) |  | $ | (17 | )
Amount recognized in Consolidated Balance Sheets Related to Defined Benefit Pension and Other Postretirement Benefit Plans | The following table shows the amounts recognized in the Consolidated Balance Sheets related to the Company’s North America defined benefit pension and other postretirement benefit plans as of year-end:
(In millions) |  | Pension Benefits |  |  | Other Benefits |
Noncurrent assets |  | $ | 10 |  |  | $ | — |
Current liabilities |  |  | (3 | ) |  |  | (1 | )
Noncurrent liabilities |  |  | (143 | ) |  |  | (16 | )
Net amount recognized |  | $ | (136 | ) |  | $ | (17 | )
Amounts Recognized in Accumulated Other Comprehensive Loss | Amounts recognized in accumulated other comprehensive gain consist of:
(In millions) |  | Pension Benefits |  |  | Other Benefits |
Net gain |  | $ | (26 | ) |  | $ | — |
Prior service cost (credit) |  |  | — |  |  |  | — |
Total |  | $ | (26 | ) |  | $ | — |
Information for Pension Plans With an Accumulated Benefit Obligation in Excess of Plan Assets | Information for pension plans with an accumulated benefit obligation in excess of plan assets is as follows:
(In millions) |  | 2013 |
Projected benefit obligation |  | $ | (785) |
Accumulated benefit obligation |  |  | (785 | )
Fair value of plan assets |  |  | 639 |
Components of net periodic cost (benefit) | The components of net periodic benefit are as follows:
(In millions) |  | Pension Benefits |  |  | Other Benefits |
Service cost |  | $ | — |  |  | $ | — |
Interest cost |  |  | 7 |  |  |  | — |
Expected return on plan assets |  |  | (8 | ) |  |  | — |
Net periodic benefit |  | $ | (1 | ) |  | $ | — |
Other Changes In Plan Assets And Benefit Obligations Recognized In Other Comprehensive Income | Other changes in plan assets and benefit obligations recognized in other comprehensive income are as follows:
(In millions) |  | Pension Benefits |  |  | Other Benefits |
Accumulated other comprehensive gain at beginning of the period |  | $ | — |  |  | $ | — |
Net gain |  |  | (26 | ) |  |  | — |
Accumulated other comprehensive gain at end of the period |  | $ | (26 | ) |  | $ | — |
Weighted Average Assumptions Used in the Measurement of Benefit Obligations | The following table presents the key weighted average assumptions used in the measurement of the Company’s benefit obligations as of year-end:
|  |  |  |  | Other Benefits |
|  | Pension Benefits |  |  | United States |  |  | Canada |
Discount rate |  |  | 4.84 | % |  |  | 4.00 | % |  |  | 4.80 | %
The following table presents the weighted average assumptions used in the measurement of net periodic benefit for the period from Merger date through year-end:
|  |  |  |  | Other Benefits |
|  | Pension Benefits |  |  | United States |  |  | Canada |
Discount rate |  |  | 4.76 | % |  |  | 3.80 | % |  |  | 4.60 | %
Expected long-term rate of return on plan assets |  |  | 6.60 | % |  |  | — | % |  |  | — | %
Assumed Healthcare Cost Trend Rates | The following table presents the assumed healthcare cost trend rates used in measuring the Company’s postretirement benefit obligations at year-end:
|  | 2013 |
Weighted average assumptions as of year-end: |  |  |  |
Healthcare cost trend rate assumed for next year |  |  | 6.70 | %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) |  |  | 4.50 | %
Year that the rate reaches the ultimate trend rate |  |  | 2022 |
Allocation of Plan Assets Table | The allocation of pension plan assets by category at year-end is as follows:
|  | 2013 |
Money market funds |  |  | 3 | %
Equity securities |  |  | 8 | %
Fixed-income securities |  |  | 53 | %
Equity mutual funds |  |  | 36 | %
|  |  | 100 | %
Schedule Of Fair Value Of Plan Assets By Assets Category | The following table presents the pension plan assets by level within the fair value hierarchy at year-end.
(In millions) |  |  |  |  | Fair Value Measurements at December 28, 2013 |
Asset Category |  | Total |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Money market funds |  | $ | 25 |  |  | $ | 25 |  |  | $ | — |  |  | $ | — |
Equity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. large-cap |  |  | 18 |  |  |  | 18 |  |  |  | — |  |  |  | — |
U.S. small and mid-cap |  |  | 4 |  |  |  | 4 |  |  |  | — |  |  |  | — |
International |  |  | 56 |  |  |  | 56 |  |  |  | — |  |  |  | — |
Total equity securities |  |  | 78 |  |  |  | 78 |  |  |  | — |  |  |  | — |
Fixed-income securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  |  | 459 |  |  |  | — |  |  |  | 459 |  |  |  | — |
Government securities |  |  | 18 |  |  |  | — |  |  |  | 18 |  |  |  | — |
Other fixed-income |  |  | 41 |  |  |  | — |  |  |  | 41 |  |  |  | — |
Total fixed-income securities |  |  | 518 |  |  |  | — |  |  |  | 518 |  |  |  |  |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity mutual funds |  |  | 353 |  |  |  | — |  |  |  | 353 |  |  |  | — |
Other, including plan receivables and payables |  |  | 12 |  |  |  | 12 |  |  |  | — |  |  |  | — |
|  | $ | 986 |  |  | $ | 115 |  |  | $ | 871 |  |  | $ | — |
Anticipated Benefit Payments | Company. Anticipated benefit payments by year are as follows:
(In millions) |  | Pension Benefits |  |  | Other Benefits |
2014 |  | $ | 95 |  |  | $ | 1 |
2015 |  |  | 93 |  |  |  | 1 |
2016 |  |  | 91 |  |  |  | 1 |
2017 |  |  | 88 |  |  |  | 1 |
2018 |  |  | 86 |  |  |  | 1 |
Next five years |  | $ | 398 |  |  | $ | 5 |
Europe |
Changes in Pension and Other Postretirement Benefit Obligations, Plan Assets and Funded Status | The following table provides a reconciliation of changes in the projected benefit obligation, the fair value of plan assets and the funded status of the plan to amounts recognized on the Company’s Consolidated Balance Sheets.
(In millions) |  | December 28, 2013 |  |  | December 29, 2012 |
Changes in projected benefit obligation: |  |  |  |  |  |  |  |
Obligation at beginning of period |  | $ | 208 |  |  | $ | 182 |
Service cost |  |  | — |  |  |  | — |
Interest cost |  |  | 9 |  |  |  | 9 |
Benefits paid |  |  | (4 | ) |  |  | (5 | )
Actuarial loss |  |  | 6 |  |  |  | 14 |
Currency translation |  |  | 5 |  |  |  | 8 |
Obligation at end of period |  |  | 224 |  |  |  | 208 |
Changes in plan assets: |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of period |  |  | 216 |  |  |  | 133 |
Actual return on plan assets |  |  | 14 |  |  |  | 22 |
Company contributions |  |  | — |  |  |  | 59 |
Benefits paid |  |  | (4 | ) |  |  | (5 | )
Currency translation |  |  | 6 |  |  |  | 7 |
Fair value of plan assets at end of period |  |  | 232 |  |  |  | 216 |
Net asset recognized at end of period |  | $ | 8 |  |  | $ | 8 |
Components of net periodic cost (benefit) | The components of net periodic cost (benefit) are presented below:
(In millions) |  | 2013 |  |  | 2012 |  |  | 2011 |
Service cost |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost |  |  | 9 |  |  |  | 9 |  |  |  | 10 |
Expected return on plan assets |  |  | (13 | ) |  |  | (11 | ) |  |  | (9 | )
Net periodic pension cost (benefit) |  | $ | (4 | ) |  | $ | (2 | ) |  | $ | 1 |
Weighted Average Assumptions Used in the Measurement of Benefit Obligations | Assumptions used in calculating the funded status included:
|  | 2013 |  |  | 2012 |  |  | 2011 |
Expected long-term rate of return on plan assets |  |  | 6.33 | % |  |  | 6.00 | % |  |  | 6.00% |
Discount rate |  |  | 4.60 | % |  |  | 4.40 | % |  |  | 4.70% |
Salary increases |  |  | — |  |  |  | — |  |  |  | — |
Inflation |  |  | 3.40 | % |  |  | 3.00 | % |  |  | 3.00% |
Allocation of Plan Assets Table | The allocation of Plan assets is as follows:
|  | 2013 |  |  | 2012 |
Cash |  |  | 1 | % |  |  | — |
Equity securities |  |  | 54 | % |  |  | 64% |
Fixed-income securities |  |  | 45 | % |  |  | 36% |
Total |  |  | 100 | % |  |  | 100% |
Schedule Of Fair Value Of Plan Assets By Assets Category | The fair value of plan assets by asset category is as follows:
(In millions) |  |  |  |  | Fair Value Measurements at December 28, 2013 |
Asset Category |  | Total |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Cash |  | $ | 1 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |
Equity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Developed market equity funds |  |  | 77 |  |  |  | 69 |  |  |  | 8 |  |  |  | — |
Emerging market equity funds |  |  | 16 |  |  |  | 14 |  |  |  | 2 |  |  |  | — |
Mutual funds real estate |  |  | 8 |  |  |  | — |  |  |  | 1 |  |  |  | 7 |
Mutual funds |  |  | 22 |  |  |  | — |  |  |  | 22 |  |  |  | — |
Total equity securities |  |  | 123 |  |  |  | 83 |  |  |  | 33 |  |  |  | 7 |
Fixed-income securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
UK debt funds |  |  | 19 |  |  |  | — |  |  |  | 19 |  |  |  | — |
Liability term matching debt funds |  |  | 73 |  |  |  | — |  |  |  | 73 |  |  |  | — |
Emerging market debt fund |  |  | 9 |  |  |  | — |  |  |  | 9 |  |  |  | — |
High yield debt |  |  | 7 |  |  |  | — |  |  |  | 7 |  |  |  | — |
Total fixed-income securities |  |  | 108 |  |  |  | — |  |  |  | 108 |  |  |  | — |
Total |  | $ | 232 |  |  | $ | 84 |  |  | $ | 141 |  |  | $ | 7 |
(In millions) |  |  |  |  | Fair Value Measurements at December 29, 2012 |
Asset Category |  | Total |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Equity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Developed market equity funds |  | $ | 72 |  |  | $ | 72 |  |  | $ | — |  |  | $ | — |
Emerging market equity funds |  |  | 67 |  |  |  | — |  |  |  | 67 |  |  |  | — |
Total equity securities |  |  | 139 |  |  |  | 72 |  |  |  | 67 |  |  |  | — |
Debt securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
UK debt funds |  |  | 12 |  |  |  | — |  |  |  | 12 |  |  |  | — |
Liability term matching debt funds |  |  | 65 |  |  |  | — |  |  |  | 65 |  |  |  | — |
Total debt securities |  |  | 77 |  |  |  | — |  |  |  | 77 |  |  |  | — |
Total |  | $ | 216 |  |  | $ | 72 |  |  | $ | 144 |  |  | $ | — |
Anticipated Benefit Payments | Anticipated benefit payments for the European pension plan, at December 28, 2013 exchange rates, are as follows:
(In millions) |  | Benefit Payments |
2014 |  | $ | 5 |
2015 |  |  | 5 |
2016 |  |  | 5 |
2017 |  |  | 5 |
2018 |  |  | 5 |
Next five years |  | $ | 28 |
Reconciliation of the Change in Fair Value of the Pension Plan Assets Calculated based on Level 3 Inputs | The following is a reconciliation of the change in fair value of the pension plan assets calculated based on Level 3 inputs; there were no transfers out of assets valued based on Level 3 inputs:
(In millions) |  | Total |
Balance at December 29, 2012 |  | $ | — |
Purchases, sales, and settlements |  |  | 7 |
Balance at December 28, 2013 |  | $ | 7 |

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