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Pension and Postretirement Benefit Plans (Tables)
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12 Months Ended |
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Dec. 29, 2012
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| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
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| Schedule of Allocation of Plan Assets |
The plans’ weighted-average asset allocations by asset category are as follows: | | | | | | | | December 29, 2012 | | December 31, 2011 | Cash | 1 | % | | 3 | % | Equity Securities | 31 | % | | 29 | % | Fixed Income Securities | 68 | % | | 68 | % | Total | 100 | % | | 100 | % |
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| Schedule of Expected Benefit Payments |
The expected level of payments to, or on the behalf of, participants is as follows: | | | | | | | | | In thousands | Pension | | Postretirement | 2013 | $ | 5,532 |
| | $ | 441 |
| 2014 | 5,314 |
| | 414 |
| 2015 | 5,539 |
| | 404 |
| 2016 | 5,940 |
| | 392 |
| 2017 | 6,359 |
| | 380 |
| 2018 to 2022 | 41,464 |
| | 1,705 |
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Pension Plans
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| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
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| Schedule of Net Funded Status |
The following table details information regarding the Company's pension plans: | | | | | | | | | | | | | | | | | | | | | | | | | | | In thousands | U.S. Pension Plans | | Non-U.S. Pension Plans | Successor | | | Predecessor | | Successor | | | Predecessor | Fiscal Year Ended
December 29,
2012 | | Eleven Months
Ended
December 31,
2011 | | | One Month
Ended
January 28,
2011 | | Fiscal Year Ended
December 29,
2012 | | Eleven Months
Ended
December 31,
2011 | | | One Month
Ended
January 28,
2011 | Pension Plans | | | | | | | | | | | | | | Change in Projected Benefit Obligation: | | | | | | | | | | | | | | Benefit obligation at beginning of year | $ | (15,219 | ) | | $ | (13,125 | ) | | | $ | (13,367 | ) | | $ | (105,637 | ) | | $ | (104,758 | ) | | | $ | (102,909 | ) | Service costs | — |
| | — |
| | | — |
| | (2,002 | ) | | (1,917 | ) | | | (162 | ) | Interest costs | (620 | ) | | (646 | ) | | | (58 | ) | | (5,032 | ) | | (5,262 | ) | | | (458 | ) | Participant contributions | — |
| | — |
| | | — |
| | (173 | ) | | (173 | ) | | | (12 | ) | Actuarial gain / (loss) | (1,451 | ) | | (2,349 | ) | | | 219 |
| | (25,848 | ) | | (4,089 | ) | | | 448 |
| Settlements / curtailments | — |
| | — |
| | | — |
| | 5,520 |
| | — |
| | | — |
| Benefit payments | 981 |
| | 901 |
| | | 81 |
| | 4,556 |
| | 4,410 |
| | | 398 |
| Currency translation | — |
| | — |
| | | — |
| | (2,964 | ) | | 6,152 |
| | | (2,061 | ) | Benefit obligation at end of year | $ | (16,309 | ) | | $ | (15,219 | ) | | | $ | (13,125 | ) | | $ | (131,580 | ) | | $ | (105,637 | ) | | | $ | (104,756 | ) | Change in Plan Assets: | | | | | | | | | | | | | | Fair value at beginning of year | $ | 11,341 |
| | $ | 11,974 |
| | | $ | 11,965 |
| | $ | 129,365 |
| | $ | 115,718 |
| | | $ | 117,398 |
| Actual return on plan assets | 1,091 |
| | (392 | ) | | | 29 |
| | 12,611 |
| | 21,492 |
| | | (3,786 | ) | Employer and participant contributions | 721 |
| | 660 |
| | | 61 |
| | 3,493 |
| | 3,970 |
| | | 222 |
| Settlements / curtailments | — |
| | — |
| | | — |
| | (4,542 | ) | | — |
| | | — |
| Benefit payments | (981 | ) | | (901 | ) | | | (81 | ) | | (4,556 | ) | | (4,410 | ) | | | (398 | ) | Currency translation | — |
| | — |
| | | — |
| | 2,693 |
| | (7,405 | ) | | | 2,282 |
| Fair value at end of year | $ | 12,172 |
| | $ | 11,341 |
| | | $ | 11,974 |
| | $ | 139,064 |
| | $ | 129,365 |
| | | $ | 115,718 |
| Funded (unfunded) status | $ | (4,137 | ) | | $ | (3,878 | ) | | | $ | (1,151 | ) | | $ | 7,484 |
| | $ | 23,728 |
| | | $ | 10,962 |
| Amounts included in the balance sheet: | | | | | | | | | | | | | | Current assets | $ | — |
| | $ | — |
| | | $ | — |
| | $ | 263 |
| | $ | — |
| | | $ | — |
| Other noncurrent assets | — |
| | — |
| | | — |
| | 15,087 |
| | 31,688 |
| | | 17,462 |
| Accounts payable and accrued liabilities | — |
| | — |
| | | — |
| | (334 | ) | | (895 | ) | | | (317 | ) | Other noncurrent liabilities | (4,137 | ) | | (3,878 | ) | | | (1,151 | ) | | (7,532 | ) | | (7,065 | ) | | | (6,183 | ) | Net amount recognized | $ | (4,137 | ) | | $ | (3,878 | ) | | | $ | (1,151 | ) | | $ | 7,484 |
| | $ | 23,728 |
| | | $ | 10,962 |
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| Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year |
The following table summarizes the pretax amounts recorded in Accumulated other comprehensive income (loss) for the Company’s pension plans as of December 29, 2012 and December 31, 2011: | | | | | | | | | | | | | | | | | | In thousands | U.S. Pension Plans | | | Non-U.S. Pension Plans | December 29, 2012 | | December 31, 2011 | | | December 29, 2012 | | December 31, 2011 | Transition net asset | $ | — |
| | $ | — |
| | | $ | — |
| | $ | — |
| Net actuarial (gain) loss | 4,688 |
| | 3,610 |
| | | 7,737 |
| | (10,949 | ) | Prior service cost | — |
| | — |
| | | — |
| | — |
| Net amounts recognized | $ | 4,688 |
| | $ | 3,610 |
| | | $ | 7,737 |
| | $ | (10,949 | ) |
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| Components of net periodic benefit costs |
The components of the Company's pension related costs for the following periods are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | U.S. Pension Plans | | Non-U.S. Pension Plans | In thousands, except percentage data | Fiscal Year Ended
December 29,
2012 | | Eleven Months
Ended
December 31,
2011 | | | One Month
Ended
January 28,
2011 | | Fiscal Year Ended January 1, 2011 | | Fiscal Year Ended
December 29,
2012 | | Eleven Months
Ended
December 31,
2011 | | | One Month
Ended
January 28,
2011 | | Fiscal Year Ended January 1, 2011 | Pension Benefit Plans | | | | | | | | | | | | | | | | | | Components of net periodic benefit cost: | | | | | | | | | | | | | | | | | | Service cost | $ | — |
| | $ | — |
| | | $ | — |
| | $ | — |
| | $ | 2,002 |
| | $ | 1,917 |
| | | $ | 162 |
| | $ | 1,984 |
| Interest cost | 620 |
| | 646 |
| | | 58 |
| | 730 |
| | 5,032 |
| | 5,262 |
| | | 458 |
| | 5,215 |
| Return on plan assets | (1,091 | ) | | 392 |
| | | (29 | ) | | (1,584 | ) | | (12,611 | ) | | (21,492 | ) | | | 3,785 |
| | (10,454 | ) | Curtailment / settlement (gain) loss | — |
| | — |
| | | — |
| | — |
| | 792 |
| | — |
| | | — |
| | — |
| Net amortization of: | | | | | | | | | | | | | | | | | | Transition costs and other | 373 |
| | (1,260 | ) | | | (36 | ) | | 894 |
| | 6,911 |
| | 16,043 |
| | | (4,293 | ) | | 5,336 |
| Net periodic benefit cost | $ | (98 | ) | | $ | (222 | ) | | | $ | (7 | ) | | $ | 40 |
| | $ | 2,126 |
| | $ | 1,730 |
| | | $ | 112 |
| | $ | 2,081 |
| Weighted average assumptions used: | | | | | | | | | | | | | | | | | | Return on plan assets | 8.0 | % | | 8.0 | % | | | 8.0 | % | | 8.0 | % | | 1.5 - 6.0% | | 2.4 - 6.0% |
| | | 2.5 - 6.0% |
| | 2.5 - 6.0% |
| Discount rate | 3.8 | % | | 5.6 | % | | | 5.4 | % | | 5.4 | % | | 3.7 - 7.0% | | 4.0 - 7.3% |
| | | 4.8 - 8.5% |
| | 4.8 - 8.5% |
| Salary and wage escalation rate | N/A |
| | N/A |
| | | N/A |
| | N/A |
| | 2.0 - 4.5% | | 2.0 - 4.5% |
| | | 2.0 - 4.5% |
| | 2.0 - 4.5% |
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| Schedule of Allocation of Plan Assets |
The fair value of the Company's pension plan assets at December 29, 2012 by asset category is as follows: | | | | | | | | | | | | | | | | | In thousands | Total | | Level 1 | | Level 2 | | Level 3 | Cash | $ | 1,942 |
| | $ | 1,942 |
| | $ | — |
| | $ | — |
| Equity securities: | | | | | | | | U.S. equities (a) | 7,877 |
| | 6,190 |
| | 1,687 |
| | — |
| Foreign equities (b) | 10,509 |
| | 522 |
| | 9,987 |
| | — |
| Global equity funds (c) | 25,483 |
| | — |
| | 25,483 |
| | — |
| Emerging markets (d) | 2,424 |
| | 1,094 |
| | 1,330 |
| | — |
| Total equity securities | 46,293 |
| | 7,806 |
| | 38,487 |
| | — |
| Fixed income securities: | | | | | | | | U.S. fixed income funds (e) | 4,121 |
| | 4,121 |
| | — |
| | — |
| Foreign fixed income funds (f) | 98,880 |
| | — |
| | 98,880 |
| | — |
| Total fixed income securities | 103,001 |
| | 4,121 |
| | 98,880 |
| | — |
| Total | $ | 151,236 |
| | $ | 13,869 |
| | $ | 137,367 |
| | $ | — |
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| | (a) | This category consists of commingled and registered mutual funds that focus on equity securities of U.S companies. It includes both indexed and actively managed funds. |
| | (b) | This category consists of commingled and registered mutual funds that focus on equity securities of companies outside of the U.S. It includes both indexed and actively managed funds. |
| | (c) | This category consists of commingled and registered mutual funds that invest in equity securities of both U.S. and foreign companies. It includes actively managed funds |
| | (d) | This category consists of commingled and registered mutual funds that invest in equity securities of companies in emerging market economies. It includes actively managed funds. |
| | (e) | This category consists of actively managed funds that invest in investment-grade bonds of U.S. issuers from diverse industries and U.S. government bonds and treasury notes. |
| | (f) | This category consists of funds that invest in investment-grade bonds of foreign companies and Euro region government bonds. |
The fair value of the Company's pension plan assets at December 31, 2011 by asset category is as follows: | | | | | | | | | | | | | | | | | In thousands | Total | | Level 1 | | Level 2 | | Level 3 | Cash | $ | 4,209 |
| | $ | 384 |
| | $ | 3,825 |
| | $ | — |
| Equity securities: | | | | | | | | U.S. equities (a) | 7,012 |
| | 5,381 |
| | 1,631 |
| | — |
| Foreign equities (b) | 10,071 |
| | 842 |
| | 9,229 |
| | — |
| Global equity funds (c) | 21,991 |
| | — |
| | 21,991 |
| | — |
| Emerging markets (d) | 1,559 |
| | 413 |
| | 1,146 |
| | — |
| Total equity securities | 40,633 |
| | 6,636 |
| | 33,997 |
| | — |
| Fixed income securities: | | | | | | | | U.S. fixed income funds (e) | 4,321 |
| | 4,321 |
| | — |
| | — |
| Foreign fixed income funds (f) | 91,543 |
| | — |
| | 91,543 |
| | — |
| Total fixed income securities | 95,864 |
| | 4,321 |
| | 91,543 |
| | — |
| Total | $ | 140,706 |
| | $ | 11,341 |
| | $ | 129,365 |
| | $ | — |
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| | (a) | This category consists of commingled and registered mutual funds that focus on equity securities of U.S companies. It includes both indexed and actively managed funds. |
| | (b) | This category consists of commingled and registered mutual funds that focus on equity securities of companies outside of the U.S. It includes both indexed and actively managed funds. |
| | (c) | This category consists of commingled and registered mutual funds that invest in equity securities of both U.S. and foreign companies. It includes actively managed funds |
| | (d) | This category consists of commingled and registered mutual funds that invest in equity securities of companies in emerging market economies. It includes actively managed funds. |
| | (e) | This category consists of actively managed funds that invest in investment-grade bonds of U.S. issuers from diverse industries and U.S. government bonds and treasury notes. |
| | (f) | This category consists of funds that invest in investment-grade bonds of foreign companies and Euro region government bonds. |
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Postretirement Benefit Plans
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| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
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| Schedule of Net Funded Status |
The following table details information regarding the Company's postretirement plans: | | | | | | | | | | | | | | | | | | | | | | | | | | | In thousands | U.S. Postretirement Plans | | Non-U.S. Postretirement Plans | Successor | | | Predecessor | | Successor | | | Predecessor | Fiscal Year Ended
December 29,
2012 | | Eleven Months
Ended
December 31,
2011 | | | One Month
Ended
January 28,
2011 | | Fiscal Year Ended
December 29,
2012 | | Eleven Months
Ended
December 31,
2011 | | | One Month
Ended
January 28,
2011 | Postretirement Benefit Plans | | | | | | | | | | | | | | Change in Projected Benefit Obligation: | | | | | | | | | | | | | | Benefit obligation at beginning of year | $ | — |
| | $ | — |
| | | $ | — |
| | $ | (4,908 | ) | | $ | (5,599 | ) | | | $ | (5,715 | ) | Additional benefit obligations | — |
| | — |
| | | — |
| | — |
| | — |
| | | — |
| Service costs | — |
| | — |
| | | — |
| | (69 | ) | | (75 | ) | | | (7 | ) | Interest costs | — |
| | — |
| | | — |
| | (218 | ) | | (279 | ) | | | (24 | ) | Actuarial gain / (loss) | — |
| | — |
| | | — |
| | (394 | ) | | (323 | ) | | | 128 |
| Settlements / curtailments | — |
| | — |
| | | — |
| | 364 |
| | 556 |
| | | — |
| Benefit payments | — |
| | — |
| | | — |
| | 407 |
| | 614 |
| | | 34 |
| Currency translation | — |
| | — |
| | | — |
| | (46 | ) | | 198 |
| | | (15 | ) | Benefit obligation at end of year | $ | — |
| | $ | — |
| | | $ | — |
| | $ | (4,864 | ) | | $ | (4,908 | ) | | | $ | (5,599 | ) | Change in Plan Assets: | | | | | | | | | | | | | | Fair value at beginning of year | $ | — |
| | $ | — |
| | | $ | — |
| | $ | — |
| | $ | — |
| | | $ | — |
| Actual return on plan assets | — |
| | — |
| | | — |
| | — |
| | — |
| | | — |
| Employer and participant contributions | — |
| | — |
| | | — |
| | 407 |
| | 614 |
| | | 34 |
| Benefit payments | — |
| | — |
| | | — |
| | (407 | ) | | (614 | ) | | | (34 | ) | Currency translation | — |
| | — |
| | | — |
| | — |
| | — |
| | | — |
| Fair value at end of year | $ | — |
| | $ | — |
| | | $ | — |
| | $ | — |
| | $ | — |
| | | $ | — |
| Funded status | $ | — |
| | $ | — |
| | | $ | — |
| | $ | (4,864 | ) | | $ | (4,908 | ) | | | $ | (5,599 | ) | Amounts included in the balance sheet: | | | | | | | | | | | | | | Other noncurrent assets | $ | — |
| | $ | — |
| | | $ | — |
| | $ | — |
| | $ | — |
| | | $ | — |
| Accounts payable and accrued liabilities | — |
| | — |
| | | — |
| | (449 | ) | | (531 | ) | | | (483 | ) | Other noncurrent liabilities | — |
| | — |
| | | — |
| | (4,415 | ) | | (4,377 | ) | | | (5,116 | ) | Net amount recognized | $ | — |
| | $ | — |
| | | $ | — |
| | $ | (4,864 | ) | | $ | (4,908 | ) | | | $ | (5,599 | ) |
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| Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year |
The following table summarizes the pretax amounts recorded in Accumulated other comprehensive income (loss) for the Company’s postretirement benefit plans as of December 29, 2012 and December 31, 2011: | | | | | | | | | In thousands | Non-U.S. Postretirement Plans | December 29, 2012 | | December 31, 2011 | Transition net asset | $ | — |
| | $ | — |
| Net actuarial (gain) loss | 443 |
| | 295 |
| Prior service cost | — |
| | — |
| Net amounts recognized | $ | 443 |
| | $ | 295 |
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|
| Components of net periodic benefit costs |
The components of the Company's postretirement related costs for the following periods are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | U.S. Postretirement Plans | | Non-U.S. Postretirement Plans | In thousands, except percentage data | Fiscal Year Ended
December 29,
2012 | | Eleven Months
Ended
December 31,
2011 | | | One Month
Ended
January 28,
2011 | | Fiscal Year Ended January 1, 2011 | | Fiscal Year Ended
December 29,
2012 | | Eleven Months
Ended
December 31,
2011 | | | One Month
Ended
January 28,
2011 | | Fiscal Year Ended January 1, 2011 | Postretirement Benefit Plans | | | | | | | | | | | | | | | | | | Components of net periodic benefit cost: | | | | | | | | | | | | | | | | | | Service cost | $ | — |
| | $ | — |
| | | $ | — |
| | $ | — |
| | $ | 69 |
| | $ | 75 |
| | | $ | 7 |
| | $ | 76 |
| Interest cost | — |
| | — |
| | | — |
| | — |
| | 218 |
| | 279 |
| | | 24 |
| | 345 |
| Curtailment / settlement (gain) loss | — |
| | — |
| | | — |
| | — |
| | 186 |
| | (556 | ) | | | — |
| | — |
| Net amortization of: | | | | | | | | | | | | | | | | | | Transition costs and other | — |
| | — |
| | | — |
| | (97 | ) | | 26 |
| | — |
| | | (26 | ) | | (241 | ) | Net periodic benefit cost | $ | — |
| | $ | — |
| | | $ | — |
| | $ | (97 | ) | | $ | 499 |
| | $ | (202 | ) | | | $ | 5 |
| | $ | 180 |
| Weighted average assumptions used: | | | | | | | | | | | | | | | | | | Discount rate | N/A |
| | N/A |
| | | N/A |
| | N/A |
| | 3.5 - 7.0% |
| | 5.3 - 8.0% |
| | | 5.0 - 8.5% |
| | 5.0 - 8.5% |
| Salary and wage escalation rate | N/A |
| | N/A |
| | | N/A |
| | N/A |
| | 3.0 - 4.5% |
| | 3.0 - 4.5% |
| | | 3.0 - 4.5% |
| | 3.0 - 4.5% |
|
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Canadian Benefit Plans
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|
| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
|
| Schedule of Health Care Cost Trend Rates |
The health care cost trend rate assumptions for the Company provided health care benefits for retirees in Canada are reflected in the following table. The Company does not provide post-employment health care benefits for retirees in other countries. | | | | | | | | December 29, 2012 | | December 31, 2011 | Weighted average health care cost trend rate assumed for next year | 6.42 | % | | 6.42 | % | Rate to which the cost trend is expected to decline (the ultimate trend rate) | 4.50 | % | | 4.50 | % | Year that the rate reached the ultimate trend rate | 2028 |
| | 2028 |
|
|