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Note 8 - Pension Plans (Tables) | 12 Months Ended
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Sep. 26, 2021
Pension Plan [Member] |
Notes Tables |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] |
(Thousands of Dollars) |  | 2021 |  |  | 2020 |  |  | 2019 |
Service cost for benefits earned during the year |  |  | 2,529 |  |  |  | 1,361 |  |  |  | 36 |
Interest cost on projected benefit obligation |  |  | 7,147 |  |  |  | 7,577 |  |  |  | 6,563 |
Expected return on plan assets |  |  | (18,688 | ) |  |  | (12,986 | ) |  |  | (8,073 | )
Amortization of net loss |  |  | 4,018 |  |  |  | 3,166 |  |  |  | 1,135 |
Amortization of prior service benefit |  |  | (6 | ) |  |  | (6 | ) |  |  | (100 | )
Net periodic pension cost (benefit) |  |  | (5,000 | ) |  |  | (888 | ) |  |  | (439 | )
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block] |
(Thousands of Dollars) |  | 2021 |  |  | 2020 |
Benefit obligation, beginning of year |  |  | 401,381 |  |  |  | 192,369 |
Business combination |  |  | — |  |  |  | 195,834 |
Service cost |  |  | 2,529 |  |  |  | 1,361 |
Interest cost |  |  | 7,147 |  |  |  | 7,577 |
Actuarial loss (gain) |  |  | (5,413 | ) |  |  | 20,525 |
Benefits paid |  |  | (21,182 | ) |  |  | (16,246 | )
Administrative expenses paid |  |  | (275 | ) |  |  | (39 | )
Benefit obligation, end of year |  |  | 384,187 |  |  |  | 401,381 |
Fair value of plan assets, beginning of year: |  |  | 331,354 |  |  |  | 146,999 |
Business combination |  |  | — |  |  |  | 152,331 |
Actual return on plan assets |  |  | 89,892 |  |  |  | 44,933 |
Benefits paid |  |  | (21,182 | ) |  |  | (16,246 | )
Administrative expenses paid |  |  | (2,599 | ) |  |  | (2,794 | )
Employer contributions |  |  | 965 |  |  |  | 6,131 |
Fair value of plan assets, end of year |  |  | 398,430 |  |  |  | 331,354 |
Funded status |  |  | 14,243 |  |  |  | (70,027 | )
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] |
|  | September 26 |  |  | September 27 |
(Thousands of Dollars) |  | 2021 |  |  | 2020 |
Pension obligations |  |  | 14,243 |  |  |  | (70,027 | )
Accumulated other comprehensive income (loss) (before income taxes) |  |  | 36,965 |  |  |  | (41,344 | )
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] |
|  | September 26 |  |  | September 27 |
(Thousands of Dollars) |  | 2021 |  |  | 2020 |
Unrecognized net actuarial gain (loss) |  | 36,965 |  |  | (41,344 | )
Unrecognized prior service benefit |  | — |  |  | — |
|  |  | 36,965 |  |  |  | (41,344 | )
Defined Benefit Plan, Assumptions [Table Text Block] |
|  | September 26 |  |  | September 27 |
(Percent) |  | 2021 |  |  | 2020 |
Discount rate |  | 2.7 |  |  | 2.8 |
Interest crediting rate |  | 2.5 |  |  | 2.5 |
(Percent) |  | 2021 |  |  | 2020 |  |  | 2019 |
Discount rate - service cost |  | 3.0 |  |  | 3.3 |  |  | 4.2 |
Discount rate - interest cost |  | 1.9 |  |  | 2.6 |  |  | 3.9 |
Expected long-term return on plan assets |  | 5.9 |  |  | 6.0 |  |  | 5.5 |
Schedule of Allocation of Plan Assets [Table Text Block] |
(Percent) |  | Policy Allocation |  |  | Actual Allocation |
|  | September 26 |  |  | September 26 |  |  | September 27 |
Asset Class |  | 2021 |  |  | 2021 |  |  | 2020 |
Equity securities |  |  | 50 |  |  |  | 50 |  |  |  | 48 |
Debt securities |  |  | 35 |  |  |  | 34 |  |  |  | 33 |
TIPS |  |  | 5 |  |  |  | 4 |  |  |  | 5 |
Hedge fund investments |  |  | 10 |  |  |  | 11 |  |  |  | 10 |
Cash and cash equivalents |  |  | — |  |  |  | 1 |  |  |  | 4 |
(Percent) |  |  | Policy Allocation |  |  |  | Actual Allocation |  |
|  |  | September 26 |  |  |  | September 26 |  |  |  | September 27 |  |
Asset Class |  |  | 2021 |  |  |  | 2021 |  |  |  | 2020 |  |
Equity securities |  |  | 30 |  |  |  | 31 |  |  |  | 92 |  |
Debt securities |  |  | 70 |  |  |  | 68 |  |  |  | 2 |  |
TIPS |  |  | — |  |  |  | — |  |  |  | — |  |
Hedge fund investments |  |  | — |  |  |  | — |  |  |  | — |  |
Cash and cash equivalents |  |  | — |  |  |  | 1 |  |  |  | 6 |  |
Schedule of Changes in Fair Value of Plan Assets [Table Text Block] |
(Thousands of Dollars) |  | NAV |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Cash and cash equivalents |  |  | — |  |  |  | 4,447 |  |  |  | — |  |  |  | — |
Domestic equity securities |  |  | 7,236 |  |  |  | 78,577 |  |  |  | 42,448 |  |  |  | — |
International equity securities |  |  | — |  |  |  | 9,485 |  |  |  | 9,505 |  |  |  | — |
Emerging equity securities |  |  | — |  |  |  | 8,077 |  |  |  | — |  |  |  | — |
TIPS |  |  | — |  |  |  | 7,280 |  |  |  | — |  |  |  | — |
Debt securities |  |  | — |  |  |  | 181,908 |  |  |  | 32,781 |  |  |  | — |
Hedge fund investments |  |  | 18,758 |  |  |  | — |  |  |  | — |  |  |  | — |
(Thousands of Dollars) |  | NAV |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Cash and cash equivalents |  |  | — |  |  |  | 17,287 |  |  |  | — |  |  |  | — |
Domestic equity securities |  |  | 5,500 |  |  |  | 151,584 |  |  |  | 60,333 |  |  |  | — |
International equity securities |  |  | — |  |  |  | 6,893 |  |  |  | 7,396 |  |  |  | — |
Emerging equity securities |  |  | — |  |  |  | 7,225 |  |  |  | — |  |  |  | — |
TIPS |  |  | — |  |  |  | 6,967 |  |  |  | — |  |  |  | — |
Debt securities |  |  | — |  |  |  | 22,253 |  |  |  | 32,167 |  |  |  | — |
Hedge fund investments |  |  | 15,977 |  |  |  | — |  |  |  | — |  |  |  | — |
Schedule of Expected Benefit Payments [Table Text Block] |
(Thousands of Dollars) |  |  |
2022 |  | 23,161 |
2023 |  | 22,596 |
2024 |  | 22,648 |
2025 |  | 22,552 |
2026 |  | 22,435 |
2027-2031 |  | 108,510 |
Pension Plans and Postretirement Plans [Member] |
Notes Tables |
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] |
(Thousands of Dollars) |  |  | 2021 |  |  |  | 2020 |  |  |  | 2019 |  |
Comprehensive income (loss), net of taxes: |  |  |  |  |  |  |  |  |  |  |  |  |
Change in unrecognized benefit plan gain (loss) arising during the period, net of taxes $19,148, $4,095, and $7,137, respectively |  |  | 59,663 |  |  |  | 10,329 |  |  |  | (16,880 | ) |
Amortization of items to periodic pension and other post-employment benefit costs during the period, net of taxes $819, $542, and $162, respectively |  |  | 2,574 |  |  |  | (1,265 | ) |  |  | (488 | ) |
Other comprehensive income (loss) recognized in operations, net of taxes |  |  | 62,237 |  |  |  | 9,064 |  |  |  | (17,368 | ) |

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