Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2012

Compensation and Retirement Disclosure [Abstract]

The following table sets forth the reconciliations of the change in projected benefit obligations and plan assets, the funded status of the Company's defined benefit plans and the amounts recognized in the Company's consolidated balance sheets:



	Year Ended
	December 31, 2012						December 30, 2011
	US			UK			US			UK
Change in benefit obligation:
Projected benefit obligation at beginning of year	$	11,778		$	45,695		$	9,258		$	43,685
Service cost	59			—			59			—
Interest cost	513			2,371			510			2,381
Actuarial loss	988			60			2,205			1,639
Benefits paid	(286		)	(1,995		)	(254		)	(1,782		)
Currency translation adjustment	—			2,084			—			(228		)
Projected benefit obligation at end of year	13,052			48,215			11,778			45,695
Accumulated benefit obligation at end of year	13,052			48,215			11,778			45,695

Change in plan assets:
Fair value of plan assets at beginning of year	7,185			26,109			6,956			26,682
Actual gain (loss) on plan assets	854			1,524			312			(1,807		)
Expected return on assets	—			1,680			—			1,847
Employer contributions	178			872			182			1,251
Administrative Expenses	(34		)	—			(11		)	—
Benefits paid	(286		)	(1,995		)	(254		)	(1,782		)
Currency translation adjustment	—			1,237			—			(82		)
Fair value of plan assets at end of year	7,897			29,427			7,185			26,109
Funded status	$	(5,155	)	$	(18,788	)	$	(4,593	)	$	(19,586	)

Amounts recognized in the consolidated balance sheets:
Other liabilities	$	(5,155	)	$	(18,788	)	$	(4,593	)	$	(19,586	)

Schedule of Net Periodic Benefit Cost Not yet Recognized

Pretax amounts in accumulated other comprehensive income not yet recognized as components of net periodic pension cost are as follows:



	December 31, 2012		December 30, 2011
Net actuarial loss	$	10,134	$	11,255
Net amounts recognized in balance sheets	$	10,134	$	11,255

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)

Pre-tax amounts recognized in other comprehensive income consist of the following:



	Year Ended
	December 31, 2012						December 30, 2011					December 31, 2010
	US			UK			US			UK		US			UK
Net actuarial loss (gain)	$	743		$	(1,483	)	$	2,448		$	3,300	$	100		$	(4,444	)
Effect of curtailment	—			—			—			—		(29		)	—
Amortization of actuarial loss	(252		)	(92		)	(43		)	—		(34		)	(306		)
Amortization of prior service cost	—			—			—			—		(1		)	—
Adjustment (currency loss)	—			—			—			25		—			—
Total recognized in other comprehensive income	$	491		$	(1,575	)	$	2,405		$	3,325	$	36		$	(4,750	)

Schedule of Assumptions Used

Weighted average assumptions used in computing the benefit obligations are as follows:



	December 31, 2012				December 30, 2011
	US		UK		US		UK
Weighted-average assumptions
Discount rate	4.01	%	4.50	%	4.40	%	4.90	%

Weighted average assumptions used in computing net periodic pension cost are as follows:



	Year Ended
	December 31, 2012				December 30, 2011				December 31, 2010
	US		UK		US		UK		US		UK
Weighted-average assumptions
Discount rate	4.40	%	4.90	%	5.57	%	5.40	%	6.10	%	5.66	%
Rate of compensation increases	—		—		—		—		—		—
Expected long-term rate of return on plan assets	8.00	%	6.47	%	8.00	%	6.78	%	8.00	%	7.00	%

Schedule of Net Benefit Costs

Net periodic pension cost for the plans includes the following components:



	Year Ended
	December 31, 2012						December 30, 2011						December 31, 2010
	US			UK			US			UK			US			UK
Components of net periodic pension cost
Service cost	$	59		$	—		$	59		$	—		$	327		$	—
Interest cost	513			2,371			510			2,381			526			2,544
Expected return on assets	(576		)	(1,680		)	(555		)	(1,847		)	(498		)	(1,709		)
Amortization of actuarial loss	252			92			43			—			34			306
Amortization of prior service cost	—			—			—			—			1			—
Effect of curtailment	—			—			—			—			29			—
Total Company defined benefit net periodic pension cost	248			783			57			534			419			1,141
Multi-employer benefit expense	1,303			—			1,247			—			1,144			—
Multi-employer pension withdrawal penalty	39			—			1,200			—			—			—
Net periodic pension cost	$	1,590		$	783		$	2,504		$	534		$	1,563		$	1,141

Schedule of Allocation of Plan Assets

The following table sets forth the actual asset allocation for the plans as of December 31, 2012, December 30, 2011, and December 31, 2010 and the target asset allocation for the plans:



	December 31, 2012				December 30, 2011				December 31, 2010				Target
	US		UK		US		UK		US		UK		US		UK
Equity securities	66	%	—	%	42	%	62	%	50	%	67	%	60	%	—	%
Debt securities	22	%	36	%	23	%	37	%	27	%	32	%	37	%	35	%
Cash and cash equivalents	1	%	1	%	27	%	1	%	23	%	1	%	3	%	—	%
Investment funds	11	%	63	%	8	%	—	%	—	%	—	%	—	%	65	%

To develop the expected long-term rate of return on assets assumption, the Company considered the historical returns and the future expectations for returns for each asset class, as well as the target asset allocation of the pension portfolio.

The investment strategy of the plans is to ensure, over the long-term life of the plan, an adequate pool of assets along with contributions by the Company to support the benefit obligations to participants, retirees, and beneficiaries. The Company desires to achieve market returns consistent with a prudent level of diversification. All investments are made solely in the interest of each plan's participants and beneficiaries for the exclusive purposes of providing benefits to such participants and their beneficiaries and defraying the expenses related to administering the plan. The target allocation of all assets is to reflect proper diversification in order to reduce the potential of a single security or single sector of securities having a disproportionate impact on the portfolio. The Company utilizes an outside investment consultant and investment manager to implement its investment strategy. Plan assets are generally invested in liquid funds that are selected to track broad market equity and bond indices. Investment performance of plan assets is reviewed semi-annually and the investment objectives are evaluated over rolling four year time periods.

The following table presents the fair value of the U.S. Plan pension assets classified under the appropriate level of fair value hierarchy as of December 31, 2012 and December 30, 2011:



	December 31, 2012								December 30, 2011
Asset Category	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash and cash equivalents(a)	$	125	$	—	$	—	$	125	$	1,919	$	—	$	—	$	1,919
Equity securities
U.S Equities (b)	4,002		—		—		4,002		2,284		—		—		2,284
Global Equities (c)	1,191		—		—		1,191		744		—		—		744
Debt securities (d)	1,716		—		—		1,716		1,653		—		—		1,653
Investment funds (e)	863		—		—		863		585		—		—		585
Total U.S. Plan Assets	$	7,897	$	—	$	—	$	7,897	$	7,185	$	—	$	—	$	7,185


(a)	Cash and cash equivalents consists of a short term investment in marketable securities valued at cost.


(b)	U.S. equities consist of exchange traded funds valued at closing price on the active market which they are traded.


(c)	Global equities consist of mutual funds invested in international equities. The value is based on the net asset value of the fund divided by the number of shares outstanding, which is updated daily. The net asset value is based on quoted market prices for underlying equities. The funds have regularly occurring transactions and regularly available pricing.


(d)	Debt securities consist of mutual funds invested in fixed income securities. The value is based on the net asset value of the fund divided by the number of shares outstanding, which is updated daily. The net asset value is based on market value of the underlying assets. The funds have regularly occurring transactions and regularly available pricing.


(e)	Investment funds consist of balanced equity and debt mutual funds. The value is based on net asset value of the fund divided by the number of shares outstanding, which is updated daily. The net asset value is based on the market value of the underlying assets. The funds have regularly occurring transactions and regularly available pricing.

The following table presents the fair value of the UK Plan pension assets classified under the appropriate level of fair value hierarchy as of December 31, 2012 and December 30, 2011:



	December 31, 2012								December 30, 2011
Asset Category	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash and cash equivalents (f)	$	286	$	—	$	—	$	286	$	295	$	—	$	—	$	295
Global Equities (g)	—		—		—		—		16,259		—		—		16,259
Debt securities (h)	10,702		—		—		10,702		9,555		—		—		9,555
Investment Funds (i)	9,541		8,898		—		18,439		—		—		—		—
Total UK Plan Assets	$	20,529	$	8,898	$	—	$	29,427	$	26,109	$	—	$	—	$	26,109


(f)	Cash and cash equivalents consists of cash held in bank accounts and short term investments valued at cost.


(g)	Global equities consist of a mutual fund invested in international equities. The value is based on the net asset value of the fund divided by the number of shares outstanding, which is updated daily. The net asset value is based on quoted market prices for underlying equities. The fund has regularly occurring transactions and regularly available pricing.


(h)	Debt securities consist of a mutual fund invested in corporate bonds. The value is based on the net asset value of the fund divided by the number of shares outstanding, which is updated daily. The net asset value is based on market prices for underlying assets. The fund has regularly occurring transactions and regularly available pricing.


(i)	Investment Funds consist of mutual and pooled pension funds. The value is based on the net asset value of the fund divided by the number of shares outstanding. The net asset value is based on market prices for underlying assets. The funds have regularly available pricing. The funds are classified as Level 1 or Level 2 based on the volume of market activity.

Schedule of Expected Benefit Payments

Total benefit payments expected to be paid to participants from the plans are as follows:



	Expected Benefit Payments
	US		UK
2013	$	239	$	1,587
2014	271		1,803
2015	311		1,810
2016	354		1,839
2017	399		1,950
2018 - 2022	2,939		11,300

Schedule of Multiemployer Plans

Plan Contributions

The Company’s participation in these plans for the annual period ended December 31, 2012, is outlined in the table below. The “EIN/Pension Plan Number” column provides the Employee Identification Number (EIN) and the three-digit plan number, if applicable. Unless otherwise noted, the most recent Pension Protection Act (PPA) zone status available in 2012 and 2011 is for the plan’s year-end as of December 30, 2011 and December 31, 2010, respectively. The zone status is based on information the Company received from the plan and is certified by the plan’s actuary. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded. The “FIP/RP Status Pending/Implemented” column indicates plans for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented. This last column lists the expiration date(s) of the collective-bargaining agreement(s) to which the plans are subject. The Company's contributions to the Teamsters Pension Trust Fund of Philadelphia and Vicinity have not exceeded 5 percent of total plan contributions for the fiscal years 2012, 2011 or 2010. The Company's contributions to the Warehouse Employees Local 169 and Employers Joint Pension Fund exceeded 5 percent in 2012, but did not exceed 5 percent in 2011 or 2010.



		Pension Protection Act Zone Status			Company Contributions (in thousands)
		Pension Protection Act Zone Status			Company Contributions (in thousands)							Expiration of Collective Bargaining Agreement
Plan Name	EIN/Pension Plan Number	2012	2011	FIP/RP Status Implemented	2012		2011		2010		Surcharge Imposed	Expiration of Collective Bargaining Agreement
Teamsters Pension Trust Fund of Philadelphia and Vicinity (1)	23-1511735/001	Yellow	Yellow	Pending	$	213	$	211	$	239	No	12/31/2012
Warehouse Employees Local 169 and Employers Joint Pension Fund	23-6230368/001	Red	Red	Implemented	$	955	$	1,036	$	905	Yes	12/31/2013
Total contributions					$	1,168	$	1,247	$	1,144

(1) The Trustees of the Teamsters Pension Trust Fund of Philadelphia and Vicinity elected to apply the special amortization and special asset valuation provisions provided for under the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 (PRA 2010) for Plan Years beginning January 1, 2009 and later. The special amortization rule allows that portion of the plan’s experience loss attributable to net investment losses incurred in the year ended December 31, 2008 to be amortized over a 30-year period rather than a 15-year period. The special asset valuation rule allows the recognition of investment losses in the year ended December 31, 2008 to be spread over a 10-year period rather than a 5-year period.