XML 54 R38.htm IDEA: XBRL DOCUMENT v3.10.0.1

Associate Retirement Plans (Tables)

12 Months Ended

Dec. 29, 2018

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 “Prepaid expenses and other current assets,” “Other assets, net,” “Accrued payroll and benefits,” and “Postretirement benefits,” respectively, in the consolidated balance sheets.

							Pension Plan										Retiree Medical Plan
							December 29,					December 30,					December 29,					December 30,
(In thousands, except percentages)							2018					2017					2018					2017
Funded Status
Projected/Accumulated benefit obligation:
Balance at beginning of year							$		80,153			$		80,350			$		10,199			$		9,663
Service cost									—					—					195					184
Interest cost									2,283					2,345					339					345
Actuarial (gain) loss									(1,578	)				4,662					(961	)				303
Benefits paid									(7,583	)				(7,204	)				(329	)				(296	)
Balance at end of year							$		73,275			$		80,153			$		9,443			$		10,199
Fair value of plan assets:
Balance at beginning of year							$		81,255			$		81,982			$		—			$		—
Actual (loss) return on plan assets									(931	)				6,477					—					—
Company contributions									1,500					—					329					296
Benefits paid									(7,583	)				(7,204	)				(329	)				(296	)
Balance at end of year							$		74,241			$		81,255			$		—			$		—
Funded (unfunded) status							$		966			$		1,102			$		(9,443	)		$		(10,199	)
Components of net amount recognized in consolidated balance sheets:
Current assets							$		966			$		—			$		—			$		—
Noncurrent assets									—					1,102					—					—
Current liabilities									—					—					(437	)				(417	)
Noncurrent liabilities									—					—					(9,006	)				(9,782	)
Net asset (liability)							$		966			$		1,102			$		(9,443	)		$		(10,199	)
Amounts recognized in AOCI:
Net actuarial loss							$		19,885			$		18,205			$		629			$		1,678
Prior service credit									—					—					(92	)				(250	)
Accumulated other comprehensive loss							$		19,885			$		18,205			$		537			$		1,428
Weighted average assumptions at measurement date:
Discount rate							3.48%					3.45%					4.41%					3.72%
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)	2018					2017					2016					2018					2017					2016
Components of net periodic benefit cost (income):
Service cost	$		—			$		—			$		—			$		195			$		184			$		187
Interest cost			2,283					2,345					2,977					339					345					345
Amortization of prior service cost			—					—					—					(158	)				(158	)				(158	)
Expected return on plan assets			(3,631	)				(3,836	)				(4,269	)				—					—					—
Recognized actuarial net loss			417					221					706					88					59					42
Net periodic benefit (income) cost	$		(931	)		$		(1,270	)		$		(586	)		$		464			$		430			$		416
Settlement expense			785					548					692					—					—					—
Total net periodic benefit (income) cost	$		(146	)		$		(722	)		$		106			$		464			$		430			$		416
Weighted average assumptions used to determine net periodic benefit cost (income):
Discount rate	3.45%					3.82%					4.04%					3.72%					4.26%					4.55%
Expected return on plan assets	4.84%					4.83%					5.05%					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 2019 are as follows:

																		Retiree
(In thousands)													Pension Plan					Medical Plan
Prior service credit													$	N/A				$		(92	)
Net actuarial loss															207					—

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:

										2018		2017		2016
Pre-65										N/A		N/A		7.50%
Post-65										8.00%		8.40%		8.40%

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 29, 2018 and December 30, 2017:

	Target					Actual
	December 29,					December 29,					December 30,
Asset Category	2018					2018					2017
Equity securities		—		%			—		%			19.3		%
Fixed income		100.0					100.0					80.7
Total		100.0		%			100.0		%			100.0		%

Summary of Fair Value Pension Plan Asset

The fair values of the Pension Plan assets at December 29, 2018 and December 30, 2017, by asset category, are as follows:

				Fair Value of Assets as of December 29, 2018
(In thousands)				Total					Level 1					Level 2					Level 3					NAV (a)
Mutual funds				$		20,124			$		—			$		—			$		—			$		20,124
Pooled funds						29,576					—					—					—					29,576
Money market fund						11,992					—					11,992					—					—
Guaranteed annuity contracts						12,549					—					—					12,549					—
Total fair value				$		74,241			$		—			$		11,992			$		12,549			$		49,700
				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 contracts						13,891					—					—					13,891					—
Total fair value				$		81,255			$		—			$		1,037			$		13,891			$		66,327

(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 29, 2018					December 30, 2017
Balance at beginning of year													$		13,891			$		15,426
Purchases, sales, issuances and settlements, net															(1,712	)				(2,222	)
Interest income															588					552
Unrealized gains															(218	)				135
Balance at end of year													$		12,549			$		13,891

Estimated Benefit Payments Expected to be Paid

The following estimated benefit payments are expected to be paid in the following fiscal years:

(In thousands)	2019					2020					2021					2022					2023					2024 to 2028
Pension benefits	$		74,570			$		—			$		—			$		—			$		—			$		—
Post-retirement medical benefits			437					480					520					557					590					3,283

X

- References

No definition available.

+ Details

Name:	us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of benefit obligations including accumulated benefit obligation and projected benefit obligation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAccumulatedAndProjectedBenefitObligationsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(5)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income (loss) expected to be recognized as components of net periodic benefit cost over the next fiscal year, including the net gain (loss), net prior service cost or credit, and net transition asset or obligation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (s)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAmountsInAccumulatedOtherComprehensiveIncomeLossToBeRecognizedOverNextFiscalYearTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(4)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the assumed health care cost trend rates for the next year used to measure the expected cost of benefits covered by the plans, including the ultimate trend rate(s) and when that rate is expected to be achieved.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfHealthCareCostTrendRatesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration