Employee Benefit Plans (Tables)
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12 Months Ended |
Dec. 31, 2017 |
Jan. 01, 2017 |
Pension Plans, Defined Benefit |
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Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
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Components of Net Periodic Benefit Cost (Credit) |
Net periodic pension (credit) cost for U.S. and non-U.S. plans included the following components for fiscal years ended: | | | | | | | | | | | | | | December 31, 2017 | | January 1, 2017 | | January 3, 2016 | | (In thousands) | Service and administrative costs | $ | 4,951 |
| | $ | 4,337 |
| | $ | 4,332 |
| Interest cost | 16,707 |
| | 18,638 |
| | 20,696 |
| Expected return on plan assets | (26,401 | ) | | (24,245 | ) | | (26,021 | ) | Curtailment gain | — |
| | — |
| | (907 | ) | Actuarial (gain) loss | (7,085 | ) | | 15,890 |
| | 12,953 |
| Amortization of prior service cost | (195 | ) | | (210 | ) | | (238 | ) | Net periodic pension (credit) cost | $ | (12,023 | ) | | $ | 14,410 |
| | $ | 10,815 |
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Schedule of Net Funded Status |
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The following table sets forth the changes in the funded status of the principal U.S. pension plan and the principal non-U.S. pension plans and the amounts recognized in the Company’s consolidated balance sheets as of December 31, 2017 and January 1, 2017. | | | | | | | | | | | | | | | | | | December 31, 2017 | | January 1, 2017 | Non-U.S. | | U.S. | | Non-U.S. | | U.S. | (In thousands) | Actuarial present value of benefit obligations: | | | | | | | | Accumulated benefit obligations | $ | 334,151 |
| | $ | 308,713 |
| | $ | 271,127 |
| | $ | 300,650 |
| Change in benefit obligations: | | | | | | | | Projected benefit obligations at beginning of year | $ | 279,522 |
| | $ | 300,650 |
| | $ | 276,960 |
| | $ | 301,416 |
| Service and administrative costs | 2,201 |
| | 2,750 |
| | 2,262 |
| | 2,075 |
| Interest cost | 4,870 |
| | 11,836 |
| | 6,205 |
| | 12,433 |
| Benefits paid and plan expenses | (13,238 | ) | | (20,032 | ) | | (11,940 | ) | | (19,424 | ) | Participants’ contributions | 189 |
| | — |
| | 209 |
| | — |
| Business acquisition (divestiture)
| 39,293 |
| | — |
| | (2,955 | ) | | — |
| Plan settlements | — |
| | — |
| | (993 | ) | | — |
| Actuarial (gain) loss | (1,486 | ) | | 13,509 |
| | 38,623 |
| | 4,150 |
| Effect of exchange rate changes | 32,059 |
| | — |
| | (28,849 | ) | | — |
| Projected benefit obligations at end of year | $ | 343,410 |
| | $ | 308,713 |
| | $ | 279,522 |
| | $ | 300,650 |
| Change in plan assets: | | | | | | | | Fair value of plan assets at beginning of year | $ | 153,281 |
| | $ | 243,817 |
| | $ | 150,894 |
| | $ | 244,693 |
| Actual return on plan assets | 15,866 |
| | 29,642 |
| | 32,581 |
| | 18,548 |
| Benefits paid and plan expenses | (13,238 | ) | | (20,032 | ) | | (11,940 | ) | | (19,424 | ) | Employer’s contributions | 8,422 |
| | — |
| | 9,562 |
| | — |
| Participants’ contributions | 189 |
| | — |
| | 209 |
| | — |
| Plan settlements | — |
| | — |
| | (993 | ) | | — |
| Effect of exchange rate changes | 15,216 |
| | — |
| | (27,032 | ) | | — |
| Fair value of plan assets at end of year | $ | 179,736 |
| | $ | 253,427 |
| | $ | 153,281 |
| | $ | 243,817 |
| Net liabilities recognized in the consolidated balance sheets | $ | (163,674 | ) | | $ | (55,286 | ) | | $ | (126,241 | ) | | $ | (56,833 | ) | | | | | | | | | Net amounts recognized in the consolidated balance sheets consist of: | | | | | | | | Noncurrent assets | $ | 26,591 |
| | $ | — |
| | $ | 12,944 |
| | $ | — |
| Current liabilities | (7,017 | ) | | — |
| | (6,033 | ) | | — |
| Noncurrent liabilities | (183,248 | ) | | (55,286 | ) | | (133,152 | ) | | (56,833 | ) | Net liabilities recognized in the consolidated balance sheets | $ | (163,674 | ) | | $ | (55,286 | ) | | $ | (126,241 | ) | | $ | (56,833 | ) | | | | | | | | | Net amounts recognized in accumulated other comprehensive income consist of: | | | | | | | | Prior service cost | $ | (457 | ) | | $ | — |
| | $ | (603 | ) | | $ | — |
| | | | | | | | | Actuarial assumptions as of the year-end measurement date: | | | | | | | | Discount rate | 1.99 | % | | 3.56 | % | | 2.06 | % | | 4.06 | % | Rate of compensation increase | 3.50 | % | | None |
| | 3.64 | % | | None |
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Actuarial assumptions used to determine net periodic pension cost during the year were as follows: | | | | | | | | | | | | | | | | | | | | December 31, 2017 | | January 1, 2017 | | January 3, 2016 | | Non-U.S. | | U.S. | | Non-U.S. | | U.S. | | Non-U.S. | | U.S. | Discount rate | 2.06 | % | | 4.06 | % | | 2.88 | % | | 4.25 | % | | 2.75 | % | | 4.08 | % | Rate of compensation increase | 3.64 | % | | None |
| | 3.26 | % | | None |
| | 3.28 | % | | None |
| Expected rate of return on assets | 6.00 | % | | 7.25 | % | | 5.30 | % | | 7.25 | % | | 4.60 | % | | 7.25 | % |
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Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] |
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The following table provides a breakdown of the non-U.S. benefit obligations and fair value of assets for pension plans that have benefit obligations in excess of plan assets: | | | | | | | | | | December 31, 2017 | | January 1, 2017 | | (In thousands) | Pension Plans with Projected Benefit Obligations in Excess of Plan Assets | | | | Projected benefit obligations | $ | 190,265 |
| | $ | 139,185 |
| Fair value of plan assets | — |
| | — |
| | | | | Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets | | | | Accumulated benefit obligations | $ | 187,329 |
| | $ | 136,197 |
| Fair value of plan assets | — |
| | — |
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Schedule of Allocation of Plan Assets |
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Assets of the defined benefit pension plans are primarily equity and debt securities. Asset allocations as of December 31, 2017 and January 1, 2017, and target asset allocations for fiscal year 2018 are as follows: | | | | | | | | | | | | | | | | | | | | Target Allocation | | Percentage of Plan Assets at | | December 30, 2018 | | December 31, 2017 | | January 1, 2017 | Asset Category | Non-U.S. | | U.S. | | Non-U.S. | | U.S. | | Non-U.S. | | U.S. | Equity securities | 45-55% |
| | 40-50% |
| | 51 | % | | 41 | % | | 48 | % | | 41 | % | Debt securities | 45-55% |
| | 50-60% |
| | 49 | % | | 59 | % | | 51 | % | | 59 | % | Other | 0-5% |
| | 0-5% |
| | — | % | | — | % | | 1 | % | | — | % | Total | 100 | % | | 100 | % | | 100 | % | | 100 | % | | 100 | % | | 100 | % |
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Schedule of Changes in Fair Value of Plan Assets |
The fair values of the Company’s pension plan assets as of December 31, 2017 and January 1, 2017 by asset category, classified in the three levels of inputs described in Note 21 to the consolidated financial statements are as follows: | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2017 Using: | Total Carrying Value at December 31, 2017 | | Quoted Prices in Active Markets (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | (In thousands) | Cash | $ | 4,307 |
| | $ | 4,307 |
| | $ | — |
| | $ | — |
| Equity Securities: | | | | | | | | U.S. large-cap | 30,008 |
| | 30,008 |
| | — |
| | — |
| International large-cap value | 32,613 |
| | 32,613 |
| | — |
| | — |
| U.S. small mid-cap | 2,104 |
| | 2,104 |
| | — |
| | — |
| Emerging markets growth | 14,348 |
| | 14,348 |
| | — |
| | — |
| Equity index funds | 90,838 |
| | — |
| | 90,838 |
| | — |
| Domestic real estate funds | 1,401 |
| | 1,401 |
| | — |
| | — |
| Commodity funds | 7,387 |
| | 7,387 |
| | — |
| | — |
| Fixed income securities: | | | | | | | | Non-U.S. Treasury Securities | 24,946 |
| | — |
| | 24,946 |
| | — |
| Corporate and U.S. debt instruments | 138,948 |
| | 40,290 |
| | 98,658 |
| | — |
| Corporate bonds | 27,571 |
| | — |
| | 27,571 |
| | — |
| High yield bond funds | 5,912 |
| | 5,912 |
| | — |
| | — |
| Other types of investments: | | | | | | | | Multi-strategy hedge funds | 16,789 |
| | — |
| | — |
| | 16,789 |
| Non-U.S. government index linked bonds | 35,991 |
| | — |
| | 35,991 |
| | — |
| Total assets measured at fair value | $ | 433,163 |
| | $ | 138,370 |
| | $ | 278,004 |
| | $ | 16,789 |
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| | | | | | | | | | | | | | | | | | | | Fair Value Measurements at January 1, 2017 Using: | Total Carrying Value at January 1, 2017 | | Quoted Prices in Active Markets (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | (In thousands) | Cash | $ | 6,079 |
| | $ | 6,079 |
| | $ | — |
| | $ | — |
| Equity Securities: | | | | | | | | U.S. large-cap | 25,523 |
| | 25,523 |
| | — |
| | — |
| International large-cap value | 28,267 |
| | 28,267 |
| | — |
| | — |
| U.S. small-cap | 1,756 |
| | 1,756 |
| | — |
| | — |
| Emerging markets growth | 12,144 |
| | 12,144 |
| | — |
| | — |
| Equity index funds | 74,274 |
| | — |
| | 74,274 |
| | — |
| Domestic real estate funds | 1,401 |
| | 1,401 |
| | — |
| | — |
| Commodity funds | 6,854 |
| | 6,854 |
| | — |
| | — |
| Fixed income securities: | | | | | | | | Non-U.S. Treasury Securities | 22,059 |
| | — |
| | 22,059 |
| | — |
| Corporate and U.S. debt instruments | 133,406 |
| | 35,971 |
| | 97,435 |
| | — |
| Corporate bonds | 23,906 |
| | — |
| | 23,906 |
| | — |
| High yield bond funds | 5,636 |
| | 5,636 |
| | — |
| | — |
| Other types of investments: | | | | | | | | Multi-strategy hedge funds | 23,790 |
| | — |
| | — |
| | 23,790 |
| Non-U.S. government index linked bonds | 32,003 |
| | — |
| | 32,003 |
| | — |
| Total assets measured at fair value | $ | 397,098 |
| | $ | 123,631 |
| | $ | 249,677 |
| | $ | 23,790 |
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Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets |
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A reconciliation of the beginning and ending Level 3 assets for fiscal years 2017, 2016 and 2015 is as follows: | | | | | | | | | | | | | | Fair Value Measurements Using Significant Unobservable Inputs (Level 3): | Venture Capital Funds | | Multi-strategy Hedge Funds | | Total | (In thousands) | Balance at December 28, 2014 | $ | 1 |
| | $ | 23,332 |
| | $ | 23,333 |
| Unrealized gains | — |
| | 83 |
| | 83 |
| Balance at January 3, 2016 | 1 |
| | 23,415 |
| | 23,416 |
| Realized losses | (1 | ) | | — |
| | (1 | ) | Unrealized gains | — |
| | 375 |
| | 375 |
| Balance at January 1, 2017 | — |
| | 23,790 |
| | 23,790 |
| Sales | — |
| | (8,189 | ) | | (8,189 | ) | Realized gains | — |
| | 1,542 |
| | 1,542 |
| Unrealized losses | — |
| | (354 | ) | | (354 | ) | Balance at December 31, 2017 | $ | — |
| | $ | 16,789 |
| | $ | 16,789 |
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Schedule of Expected Benefit Payments |
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The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid as follows: | | | | | | | | | | Non-U.S. | | U.S. | | (In thousands) | 2018 | $ | 11,786 |
| | $ | 18,593 |
| 2019 | 12,166 |
| | 18,860 |
| 2020 | 12,566 |
| | 19,125 |
| 2021 | 13,151 |
| | 19,392 |
| 2022 | 13,275 |
| | 19,630 |
| 2023-2026 | 71,963 |
| | 97,295 |
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Other Postretirement Benefit Plans, Defined Benefit [Member] |
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Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
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Components of Net Periodic Benefit Cost (Credit) |
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Net periodic postretirement medical benefit (credit) cost included the following components for the fiscal years ended: | | | | | | | | | | | | | | December 31, 2017 | | January 1, 2017 | | January 3, 2016 | | (In thousands) | Service cost | $ | 92 |
| | $ | 101 |
| | $ | 108 |
| Interest cost | 125 |
| | 142 |
| | 143 |
| Expected return on plan assets | (1,114 | ) | | (1,035 | ) | | (1,062 | ) | Actuarial (gain) loss | (741 | ) | | (539 | ) | | 971 |
| Net periodic postretirement medical benefit (credit) cost | $ | (1,638 | ) | | $ | (1,331 | ) | | $ | 160 |
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Schedule of Net Funded Status |
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The following table sets forth the changes in the postretirement medical plan’s funded status and the amounts recognized in the Company’s consolidated balance sheets as of December 31, 2017 and January 1, 2017. | | | | | | | | | | December 31, 2017 | | January 1, 2017 | | (In thousands) | Actuarial present value of benefit obligations: | | | | Retirees | $ | 804 |
| | $ | 907 |
| Active employees eligible to retire | 379 |
| | 423 |
| Other active employees | 1,948 |
| | 2,031 |
| Accumulated benefit obligations at beginning of year | 3,131 |
| | 3,361 |
| Service cost | 92 |
| | 101 |
| Interest cost | 125 |
| | 142 |
| Benefits paid | (122 | ) | | (145 | ) | Actuarial loss (gain) | 187 |
| | (329 | ) | Change in accumulated benefit obligations during the year | 282 |
| | (231 | ) | Retirees | 688 |
| | 804 |
| Active employees eligible to retire | 408 |
| | 379 |
| Other active employees | 2,317 |
| | 1,948 |
| Accumulated benefit obligations at end of year | $ | 3,413 |
| | $ | 3,131 |
| Change in plan assets: | | | | Fair value of plan assets at beginning of year | $ | 15,453 |
| | $ | 14,353 |
| Actual return on plan assets | 1,921 |
| | 1,100 |
| Fair value of plan assets at end of year | $ | 17,374 |
| | $ | 15,453 |
| Net assets recognized in the consolidated balance sheets | $ | 13,961 |
| | $ | 12,322 |
| | | | | Net amounts recognized in the consolidated balance sheets consist of: | | | | Noncurrent assets | $ | 13,961 |
| | $ | 12,322 |
| | | | | Net amounts recognized in accumulated other comprehensive income consist of: | | | | Prior service cost | $ | — |
| | $ | — |
| | | | | Actuarial assumptions as of the year-end measurement date: | | | | Discount rate | 3.60 | % | | 4.11 | % |
Actuarial assumptions used to determine net cost during the year are as follows: | | | | | | | | | | | December 31, 2017 | | January 1, 2017 | | January 3, 2016 | Discount rate | 4.11 | % | | 4.34 | % | | 4.10 | % | Expected rate of return on assets | 7.25 | % | | 7.25 | % | | 7.25 | % |
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Schedule of Changes in Fair Value of Plan Assets |
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The fair values of the Company’s plan assets at December 31, 2017 and January 1, 2017 by asset category, classified in the three levels of inputs described in Note 21, are as follows: | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2017 Using: | Total Carrying Value at December 31, 2017 | | Quoted Prices in Active Markets (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | (In thousands) | Cash | $ | 268 |
| | $ | 268 |
| | $ | — |
| | $ | — |
| Equity Securities: | | | | | | | | U.S. large-cap | 2,057 |
| | 2,057 |
| | — |
| | — |
| International large-cap value | 2,236 |
| | 2,236 |
| | — |
| | — |
| U.S. small mid-cap | 144 |
| | 144 |
| | — |
| | — |
| Emerging markets growth | 984 |
| | 984 |
| | — |
| | — |
| Domestic real estate funds | 96 |
| | 96 |
| | — |
| | — |
| Commodity funds | 506 |
| | 506 |
| | — |
| | — |
| Fixed income securities: | | | | | | | | Corporate debt instruments | 9,526 |
| | 2,762 |
| | 6,764 |
| | — |
| High yield bond funds | 406 |
| | 406 |
| | — |
| | — |
| Other types of investments: | | | | | | | | Multi-strategy hedge funds | 1,151 |
| | — |
| | — |
| | 1,151 |
| Total assets measured at fair value | $ | 17,374 |
| | $ | 9,459 |
| | $ | 6,764 |
| | $ | 1,151 |
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| | | | | | | | | | | | | | | | | | | | Fair Value Measurements at January 1, 2017 Using: | Total Carrying Value at January 1, 2017 | | Quoted Prices in Active Markets (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | (In thousands) | Cash | $ | 319 |
| | $ | 319 |
| | $ | — |
| | $ | — |
| Equity Securities: | | | | | | | | U.S. large-cap | 1,618 |
| | 1,618 |
| | — |
| | — |
| International large-cap value | 1,792 |
| | 1,792 |
| | — |
| | — |
| U.S. small mid-cap | 111 |
| | 111 |
| | — |
| | — |
| Emerging markets growth | 770 |
| | 770 |
| | — |
| | — |
| Domestic real estate funds | 89 |
| | 89 |
| | — |
| | — |
| Commodity funds | 434 |
| | 434 |
| | — |
| | — |
| Fixed income securities: | | | | | | | | Corporate debt instruments | 8,456 |
| | 2,280 |
| | 6,176 |
| | — |
| High yield bond funds | 356 |
| | 356 |
| | — |
| | — |
| Other types of investments: | | | | | | | | Multi-strategy hedge funds | 1,508 |
| | — |
| | — |
| | 1,508 |
| Total assets measured at fair value | $ | 15,453 |
| | $ | 7,769 |
| | $ | 6,176 |
| | $ | 1,508 |
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Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets |
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A reconciliation of the beginning and ending Level 3 assets for fiscal years 2017, 2016 and 2015 is as follows: | | | | | | Fair Value Measurements Using Significant Unobservable Inputs (Level 3): | Multi-strategy Hedge Funds | (In thousands) | Balance at December 28, 2014 | $ | 1,341 |
| Unrealized gains | 33 |
| Balance at January 3, 2016 | 1,374 |
| Unrealized gains | 134 |
| Balance at January 1, 2017 | 1,508 |
| Sales | (562 | ) | Realized gains | 229 |
| Unrealized losses | (24 | ) | Balance at December 31, 2017 | $ | 1,151 |
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Schedule of Expected Benefit Payments |
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The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid as follows: | | | | | Postretirement Medical Plan | | | (In thousands) | 2018 | $ | 147 |
| 2019 | 166 |
| 2020 | 178 |
| 2021 | 195 |
| 2022 | 211 |
| 2023-2026 | 1,153 |
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