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Associate Retirement Plans (Tables) | 12 Months Ended
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Dec. 30, 2017
Compensation And Retirement Disclosure [Abstract] |
Schedule of Benefit Obligations, Pension & Postretirement Benefit Plans | The following tables set forth the actuarial present value of benefit obligations, funded status, changes in benefit obligations and plan assets, weighted average assumptions used in actuarial calculations and components of net periodic benefit costs for the Company’s significant pension and postretirement benefit plans, excluding multi-employer plans. The prepaid, current accrued, and noncurrent accrued benefit costs associated with pension and postretirement benefits are reported in “Other assets, net,” “Accrued payroll and benefits,” and “Postretirement benefits,” respectively, in the consolidated balance sheets.
|  |  |  |  |  |  | Pension Plan |  |  | Retiree Medical Plan |
|  |  |  |  |  |  | December 30, |  |  | December 31, |  |  | December 30, |  |  | December 31, |
(In thousands, except percentages) |  |  |  |  |  |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Funded Status |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Projected/Accumulated benefit obligation: |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of year |  |  |  |  |  |  | $ |  | 80,350 |  |  | $ |  | 83,398 |  |  | $ |  | 9,663 |  |  | $ |  | 9,179 |
Service cost |  |  |  |  |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 184 |  |  |  |  | 187 |
Interest cost |  |  |  |  |  |  |  |  | 2,345 |  |  |  |  | 2,977 |  |  |  |  | 345 |  |  |  |  | 345 |
Actuarial loss |  |  |  |  |  |  |  |  | 4,662 |  |  |  |  | 1,598 |  |  |  |  | 303 |  |  |  |  | 213 |
Benefits paid |  |  |  |  |  |  |  |  | (7,204 | ) |  |  |  | (7,623 | ) |  |  |  | (296 | ) |  |  |  | (261 | )
Balance at end of year |  |  |  |  |  |  | $ |  | 80,153 |  |  | $ |  | 80,350 |  |  | $ |  | 10,199 |  |  | $ |  | 9,663 |
Fair value of plan assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of year |  |  |  |  |  |  | $ |  | 81,982 |  |  | $ |  | 84,753 |  |  | $ |  | — |  |  | $ |  | — |
Actual return on plan assets |  |  |  |  |  |  |  |  | 6,477 |  |  |  |  | 4,852 |  |  |  |  | — |  |  |  |  | — |
Company contributions |  |  |  |  |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 296 |  |  |  |  | 261 |
Benefits paid |  |  |  |  |  |  |  |  | (7,204 | ) |  |  |  | (7,623 | ) |  |  |  | (296 | ) |  |  |  | (261 | )
Balance at end of year |  |  |  |  |  |  | $ |  | 81,255 |  |  | $ |  | 81,982 |  |  | $ |  | — |  |  | $ |  | — |
Funded (unfunded) status |  |  |  |  |  |  | $ |  | 1,102 |  |  | $ |  | 1,632 |  |  | $ |  | (10,199 | ) |  | $ |  | (9,663 | )
Components of net amount recognized in consolidated balance sheets: |  |  |  |  |  |  |  |  |  |  |
Noncurrent assets |  |  |  |  |  |  | $ |  | 1,102 |  |  | $ |  | 1,632 |  |  | $ |  | — |  |  | $ |  | — |
Current liabilities |  |  |  |  |  |  |  |  | — |  |  |  |  | — |  |  |  |  | (417 | ) |  |  |  | (412 | )
Noncurrent liabilities |  |  |  |  |  |  |  |  | — |  |  |  |  | — |  |  |  |  | (9,782 | ) |  |  |  | (9,251 | )
Net asset (liability) |  |  |  |  |  |  | $ |  | 1,102 |  |  | $ |  | 1,632 |  |  | $ |  | (10,199 | ) |  | $ |  | (9,663 | )
Amounts recognized in AOCI: |  |  |  |  |  |  |  |  |  |  |
Net actuarial loss |  |  |  |  |  |  | $ |  | 18,205 |  |  | $ |  | 16,938 |  |  | $ |  | 1,678 |  |  | $ |  | 1,434 |
Prior service credit |  |  |  |  |  |  |  |  | — |  |  |  |  | — |  |  |  |  | (250 | ) |  |  |  | (408 | )
Accumulated other comprehensive loss |  | $ |  | 18,205 |  |  | $ |  | 16,938 |  |  | $ |  | 1,428 |  |  | $ |  | 1,026 |
Weighted average assumptions at measurement date: |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  |  |  |  |  | 3.45% |  |  | 3.82% |  |  | 3.72% |  |  | 4.26% |
Ultimate health care cost trend rate |  |  |  |  |  |  | N/A |  |  | N/A |  |  | 5.00% |  |  | 5.00% |
Components of Net Periodic Pension and Postretirement Benefit Cost (Income) |
| Pension Plan |  |  | Retiree Medical Plan |
(In thousands, except percentages) | 2017 |  |  | 2016 |  |  | 2015 |  |  | 2017 |  |  | 2016 |  |  | 2015 |
Components of net periodic benefit cost (income): |
Service cost | $ |  | — |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 184 |  |  | $ |  | 187 |  |  | $ |  | 231 |
Interest cost |  |  | 2,345 |  |  |  |  | 2,977 |  |  |  |  | 3,325 |  |  |  |  | 345 |  |  |  |  | 345 |  |  |  |  | 404 |
Amortization of prior service cost |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | (158 | ) |  |  |  | (158 | ) |  |  |  | (158 | )
Expected return on plan assets |  |  | (3,836 | ) |  |  |  | (4,269 | ) |  |  |  | (4,923 | ) |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Recognized actuarial net loss |  |  | 221 |  |  |  |  | 706 |  |  |  |  | 827 |  |  |  |  | 59 |  |  |  |  | 42 |  |  |  |  | 174 |
Net periodic benefit (income) expense | $ |  | (1,270 | ) |  | $ |  | (586 | ) |  | $ |  | (771 | ) |  | $ |  | 430 |  |  | $ |  | 416 |  |  | $ |  | 651 |
Settlement expense |  |  | 548 |  |  |  |  | 692 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Total (income) expense | $ |  | (722 | ) |  | $ |  | 106 |  |  | $ |  | (771 | ) |  | $ |  | 430 |  |  | $ |  | 416 |  |  | $ |  | 651 |
Weighted average assumptions used to determine net periodic benefit cost (income): |
Discount rate | 3.82% |  |  | 4.04% |  |  | 3.75% |  |  | 4.26% |  |  | 4.55% |  |  | 4.15% |
Expected return on plan assets | 4.83% |  |  | 5.05% |  |  | 5.50% |  |  | N/A |  |  | N/A |  |  | N/A |
Schedule of Amounts Recognized in AOCI | The net actuarial loss and prior service cost included in AOCI and expected to be recognized in net periodic benefit cost in 2018 are as follows:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Retiree |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  | Pension Plan |  |  | Medical Plan |
Prior service credit |  |  |  |  |  |  |  |  |  |  |  |  | $ | N/A |  |  | $ |  | (158 | )
Net actuarial loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 417 |  |  |  |  | 88 |
Assumed Current Healthcare Cost Trend Rates Used to Determine Net Periodic Benefit Cost (Income) | Assumed healthcare cost trend rates have a significant effect on the amounts reported for the Retiree Medical Plan. Assumed current healthcare cost trend rates used to determine net periodic benefit cost (income) were as follows:
|  |  |  |  |  |  |  |  |  | 2017 |  | 2016 |  | 2015
Pre-65 |  |  |  |  |  |  |  |  |  | N/A |  | 7.50% |  | 7.75%
Post-65 |  |  |  |  |  |  |  |  |  | 8.40% |  | 8.40% |  | 6.85%
Summary of Actual Assets Allocation | The following table summarizes both the targeted allocation of the Pension Plan’s asset allocation by asset category and actual allocations as of December 30, 2017 and December 31, 2016:
| Target |  | Actual
| December 30, |  | December 30, |  | December 31,
Asset Category | 2017 |  | 2017 |  | 2016
Equity securities |  | 20.0 |  | % |  |  | 19.3 |  | % |  |  | 20.8 |  | %
Fixed income |  | 80.0 |  |  |  |  | 79.4 |  |  |  |  | 76.9 |  |
Cash equivalents |  | — |  |  |  |  | 1.3 |  |  |  |  | 2.3 |  |
Total |  | 100.0 |  | % |  |  | 100.0 |  | % |  |  | 100.0 |  | %
Summary of Fair Value Pension Plan Asset | The fair values of the Pension Plan assets at December 30, 2017 and December 31, 2016, by asset category, are as follows:
|  |  |  | Fair Value of Assets as of December 30, 2017 |
(In thousands) |  |  |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | NAV (a) |
Mutual funds |  |  |  | $ |  | 18,194 |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 18,194 |
Pooled funds |  |  |  |  |  | 48,133 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 48,133 |
Money market fund |  |  |  |  |  | 1,037 |  |  |  |  | — |  |  |  |  | 1,037 |  |  |  |  | — |  |  |  |  | — |
Guaranteed annuity contract |  |  |  |  |  | 13,891 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 13,891 |  |  |  |  | — |
Total fair value |  |  |  | $ |  | 81,255 |  |  | $ |  | — |  |  | $ |  | 1,037 |  |  | $ |  | 13,891 |  |  | $ |  | 66,327 |
|  |  |  | Fair Value of Assets as of December 31, 2016 |
(In thousands) |  |  |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | NAV (a) |
Mutual funds |  |  |  | $ |  | 14,178 |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 14,178 |
Pooled funds |  |  |  |  |  | 50,506 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 50,506 |
Money market fund |  |  |  |  |  | 1,872 |  |  |  |  | — |  |  |  |  | 1,872 |  |  |  |  | — |  |  |  |  | — |
Guaranteed annuity contract |  |  |  |  |  | 15,426 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 15,426 |  |  |  |  | — |
Total fair value |  |  |  | $ |  | 81,982 |  |  | $ |  | — |  |  | $ |  | 1,872 |  |  | $ |  | 15,426 |  |  | $ |  | 64,684 |
| (a) | Assets are measured at net asset value (“NAV”) (or its equivalent) on a non-active market, and therefore, have not been classified in the fair value hierarchy.
Summary of Reconciliation of Beginning and Ending Balances for Level 3 Assets | Level 3 assets consist of guaranteed annuity contracts. A reconciliation of the beginning and ending balances for Level 3 assets is as follows:
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  | December 30, 2017 |  |  | December 31, 2016 |
Balance at beginning of year | $ |  | 15,426 |  |  | $ |  | 16,198 |
Purchases, sales, issuances and settlements, net |  |  | (2,222 | ) |  |  |  | (1,733 | )
Interest income |  |  | 552 |  |  |  |  | 631 |
Unrealized gains |  |  | 135 |  |  |  |  | 330 |
Balance at end of year | $ |  | 13,891 |  |  | $ |  | 15,426 |
Estimated Benefit Payments Expected to be Paid | The following estimated benefit payments are expected to be paid in the following fiscal years:
(In thousands) | 2018 |  |  | 2019 |  |  | 2020 |  |  | 2021 |  |  | 2022 |  |  | 2022 to 2026 |
Pension benefits | $ |  | 8,668 |  |  | $ |  | 8,274 |  |  | $ |  | 7,702 |  |  | $ |  | 7,843 |  |  | $ |  | 7,035 |  |  | $ |  | 26,850 |
Post-retirement medical benefits |  |  | 417 |  |  |  |  | 463 |  |  |  |  | 503 |  |  |  |  | 540 |  |  |  |  | 575 |  |  |  |  | 3,232 |

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- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e2439-114920 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e2417-114920 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e2410-114920 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=77993564&loc=d3e4179-114921 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
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