Defined Benefit Plans

9 Months Ended

Sep. 28, 2016

Compensation and Retirement Disclosure [Abstract]

The components of net periodic benefit cost were as follows:



	Quarter Ended					Three Quarters Ended
	September 28, 2016		September 30, 2015			September 28, 2016		September 30, 2015
	(In thousands)
Pension Plan:
Service cost	$	—	$	95		$	105	$	285
Interest cost	—		745			—		2,237
Expected return on plan assets	—		(877		)	—		(2,631		)
Amortization of net loss	—		434			—		1,300
Net periodic benefit cost	$	—	$	397		$	105	$	1,191

Other Defined Benefit Plans:
Interest cost	$	23	$	26		$	69	$	80
Amortization of net loss	21		20			64		59
Net periodic benefit cost	$	44	$	46		$	133	$	139

During 2014, our Board of Directors approved the termination and liquidation of the Advantica Pension Plan (the "Pension Plan") as of December 31, 2014. During the three quarters ended September 28, 2016, we completed the liquidation of the Pension Plan. Accordingly, we made a final contribution of $9.5 million to the Pension Plan. The resulting $67.7 million in Pension Plan assets were used to make lump sum payments and purchase annuity contracts, which are administered by a third-party provider. In addition, during the three quarters ended September 28, 2016, we recognized a pre-tax settlement loss of $24.3 million related to the liquidation, reflecting the recognition of unamortized actuarial losses that were recorded in accumulated other comprehensive income. See Note 14. We made no contributions to the Pension Plan during the three quarters ended September 30, 2015.

We made contributions of $0.1 million to our other defined benefit plans during both the three quarters ended September 28, 2016 and the three quarters ended September 30, 2015. We expect to contribute less than $0.1 million to our other defined benefit plans over the remainder of fiscal 2016.

Additional minimum pension liability, net of tax, of $0.9 million and $22.8 million is reported as a component of accumulated other comprehensive loss in our Condensed Consolidated Statement of Shareholders’ Equity as of September 28, 2016 and December 30, 2015, respectively.