XML 54 R32.htm IDEA: XBRL DOCUMENT v2.4.0.6
Employee Benefit Plans (Tables)
12 Months Ended
Dec. 29, 2012
Employee Benefit Plans [Abstract]  
Defined Benefit Plans' Combined Funded Status And Amounts Recognized In Consolidated Balance Sheet

 

 

 

 

 

 

(THOUSANDS OF  DOLLARS)

2012

 

2011

Change in Projected Benefit Obligation

 

 

 

 

 

Benefit obligation at end of prior year

$

59,134 

 

$

50,869 

Service cost

 

255 

 

 

255 

Interest cost

 

2,454 

 

 

2,633 

Actuarial loss

 

4,927 

 

 

7,842 

Benefits paid

 

(2,373)

 

 

(2,209)

Administrative expenses paid

 

(266)

 

 

(256)

Benefit Obligation at End of Year

$

64,131 

 

$

59,134 

 

 

 

 

 

 

 

Change in Plan Assets

 

 

 

 

 

Fair value of plan assets at end of prior year

$

34,892 

 

$

32,928 

Actual return on plan assets

 

4,413 

 

 

632 

Employer contributions

 

5,980 

 

 

3,797 

Benefits paid

 

(2,373)

 

 

(2,209)

Administrative expenses paid

 

(266)

 

 

(256)

Fair Value of Plan Assets at End of Year

$

42,646 

 

$

34,892 

 

 

 

 

 

 

 

Funded Status

 

 

 

 

 

Deficiency of plan assets over projected benefit obligation

$

(21,485)

 

$

(24,242)

Unrecognized prior service cost

 

60 

 

 

71 

Unrecognized net actuarial loss

 

26,959 

 

 

25,127 

Prepaid Pension Cost (Included in Retirement Plan Obligations)

$

5,534 

 

$

956 

 

 

 

 

 

 

 

Amounts Recognized in the Consolidated Balance Sheets Consist of

 

 

 

 

 

Accrued benefit cost - current

$

(2,253)

 

$

(2,068)

Accrued benefit cost - long-term

 

(19,232)

 

 

(22,174)

Accumulated other comprehensive loss

 

27,019 

 

 

25,198 

Net Recognized Amount

$

5,534 

 

$

956 

 

 

 

 

 

 

Accumulated Benefit Obligation

$

64,131 

 

$

59,134 

 

Components Of Net Periodic Benefit Cost

 

 

 

 

 

 

 

 

 

(THOUSANDS OF  DOLLARS)

2012

 

2011

 

2010

Components of Net Periodic Benefit Cost

 

 

 

 

 

 

 

 

Service cost

$

255 

 

$

255 

 

$

45 

Interest cost

 

2,454 

 

 

2,633 

 

 

2,679 

Expected return on plan assets

 

(2,825)

 

 

(2,622)

 

 

(2,465)

Amortization of prior service cost

 

60 

 

 

27 

 

 

11 

Recognized net actuarial loss

 

1,490 

 

 

652 

 

 

379 

Net Periodic Benefit Cost

$

1,434 

 

$

945 

 

$

649 

 

Weighted Average Assumptions Used In Calculation Of Net Periodic Benefit Cost And Benefit Obligation

 

 

 

 

 

 

 

 

 

 

2012

 

2011

 

2010

Assumptions:

DOMESTIC PLANS

FOREIGN PLANS

 

DOMESTIC PLANS

FOREIGN PLANS

 

DOMESTIC PLANS

FOREIGN PLANS

 

 

 

 

 

 

 

 

 

Weighted Average Assumptions Used to Determine Benefit Obligation

Discount rate

3.73%

3.30%

 

4.21%

4.70%

 

5.36%

5.15%

Rate of compensation increase

N/A

N/A

 

N/A

N/A

 

N/A

N/A

 

 

 

 

 

 

 

 

 

Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost

Discount rate

4.21%

4.70%

 

5.36%

5.15%

 

5.88%

5.90%

Expected return on plan assets

7.80%

2.70%

 

7.80%

3.80%

 

7.80%

3.50%

Rate of compensation increase

N/A

N/A

 

N/A

N/A

 

N/A

N/A

 

Target Allocation And Actual Allocation Percentage By Asset Category

 

 

 

 

 

 

Plan Asset Information:  

TARGET

 

ALLOCATION

 

ALLOCATION

 

ALLOCATION

 

PERCENTAGE

 

PERCENTAGE

Asset Category

FYE 2013

 

FYE 2012

 

FYE 2011

Domestic Equities

30%

 

29.7%

 

32.3%

International Equities

10%

 

10.5%

 

7.9%

Fixed Income Securities

40%

 

40.2%

 

40.4%

All Asset Fund

20%

 

19.7%

 

19.4%

Cash/Other

0%

 

0.0%

 

0.0%

 

100%

 

100%

 

100%

 

Benefit Payments Which Reflect Expected Future Service

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(THOUSANDS OF DOLLARS)

2013

 

2014

 

2015

 

2016

 

2017

 

2018 - 2022

 

$

2,398 

 

$

2,466 

 

$

2,573 

 

$

2,700 

 

$

2,862 

 

$

16,467 

 

Fair Values Of Pension Plan Assets And Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(THOUSANDS OF DOLLARS)

DECEMBER 29, 2012

 

DECEMBER 31, 2011

 

LEVEL

 

LEVEL

 

LEVEL

 

TOTAL

 

LEVEL

 

LEVEL

 

LEVEL

 

TOTAL

Assets:

1

 

2

 

3

 

 

 

1

 

2

 

3

 

 

Domestic Equities (A) (B) (C)

$

11,539 

 

$

 -

 

$

 -

 

$

11,539 

 

$

10,579 

 

$

 -

 

$

 -

 

$

10,579 

International Equities (A) (C)

 

4,014 

 

 

 -

 

 

 -

 

 

4,014 

 

 

2,264 

 

 

 -

 

 

 -

 

 

2,264 

Fixed Income Securities (A) (C)

 

14,018 

 

 

 -

 

 

 -

 

 

14,018 

 

 

11,158 

 

 

 -

 

 

 -

 

 

11,158 

Foreign Fixed Income Securities (C)

 

 -

 

 

5,858 

 

 

 -

 

 

5,858 

 

 

 -

 

 

2,932 

 

 

 -

 

 

2,932 

All Asset Fund (A) (C)

 

5,904 

 

 

 -

 

 

 -

 

 

5,904 

 

 

4,272 

 

 

 -

 

 

 -

 

 

4,272 

Cash and Cash Equivalents

 

1,313 

 

 

 -

 

 

 -

 

 

1,313 

 

 

3,687 

 

 

 -

 

 

 -

 

 

3,687 

Total Assets at Fair Value

$

36,788 

 

$

5,858 

 

$

 -

 

$

42,646 

 

$

31,960 

 

$

2,932 

 

$

 -

 

$

34,892 

 

 

 

 

(A)

Value based on quoted market prices of identical instruments

(B)

Includes approximately $0.6 million and $0.6 million of A.T. Cross Company Class A common stock in 2012 and 2011, respectively.

(C)

Valued daily by the fund using a market approach with inputs that include quoted market prices of identical instruments to the underlying investments