Pension, Postretirement and Postemployment Benefits (Tables)

12 Months Ended

Dec. 28, 2014

Pension, Postretirement and Postemployment Benefits [Abstract]

Summary of Changes in Projected Benefit Obligation, Plan Assets and Funded Status

Reconciliations of the beginning and ending balances for the projected benefit obligation, the fair value of plan assets and the funded status are included below for the years ended December 28, 2014 and December 29, 2013.

	Pension						Postretirement
	2014			2013			2014			2013
Change in Projected Benefit Obligation
Projected benefit obligation – beginning	$	332,774			391,681			27,174			36,969
Service cost		1,824			2,579			543			750
Interest cost		16,209			15,597			1,337			1,380
Actuarial (gain) loss		59,640			(45,170	)		796			(5,617	)
Curtailment		-			2,958			-			-
Plan amendment		-			-			-			(4,408	)
Benefits paid		(25,690	)		(17,213	)		(1,833	)		(1,900	)
Settlements		-			(16,213	)		-			-
Expenses paid		(1,689	)		(1,445	)		-			-
Projected benefit obligation – ending	$	383,068			332,774			28,017			27,174
Accumulated benefit obligation – ending	$	383,068			332,774			28,017			27,174
Change in Plan Assets
Fair value of plan assets – beginning	$	273,337			273,575			-			-
Actual return on plan assets		20,385			30,619			-			-
Employer contribution		5,667			4,014			-			-
Benefits paid		(25,690	)		(17,213	)		-			-
Settlements		-			(16,213	)		-			-
Expenses paid		(1,689	)		(1,445	)		-			-
Fair value of plan assets – ending	$	272,010			273,337			-			-
Reconciliation of Funded Status
Projected benefit obligation	$	(383,068	)		(332,774	)		(28,017	)		(27,174	)
Fair value of plan assets		272,010			273,337			-			-
Funded status		(111,058	)		(59,437	)		(28,017	)		(27,174	)
Unrecognized net loss (gain)		123,968			69,716			782			(15	)
Unrecognized prior service cost (credit)		187			-			(3,401	)		(3,857	)
Net amount recognized	$	13,097			10,279			(30,636	)		(31,046	)
Accrued liabilities	$	(2,990	)		(2,978	)		(2,100	)		(2,100	)
Other liabilities		(108,068	)		(56,459	)		(25,917	)		(25,074	)
Accumulated other comprehensive earnings (loss)		124,155			69,716			(2,619	)		(3,872	)
Net amount recognized	$	13,097			10,279			(30,636	)		(31,046	)

Assumptions used to determine year-end pension and postretirement benefit obligations

Assumptions used to determine the year-end pension and postretirement benefit obligations are as follows:

	2014	2013
Pension
Weighted average discount rate	4.19%	5.02%
Mortality table	RP-2014/Scale BB	RP-2000/IRS Static Basis
Postretirement
Discount rate	4.23%	5.11%
Health care cost trend rate assumed for next year	6.50%	7.00%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)	5.00%	5.00%
Year that the rate reaches the ultimate trend	2020	2020

Fair values of plan assets by asset class and fair value hierarchy level

The assets of the funded plans are managed by investment advisors. The fair values of the plan assets by asset class and fair value hierarchy level (as described in note 12) as of December 28, 2014 and December 29, 2013 are as follows:

			Fair value measurements using:
	Fair Value		Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
2014:
Equity:
Large Cap	$	14,100		14,100		-		-
Small Cap		18,000		18,000		-		-
International		34,300		-		34,300		-
Other		36,400		-		-		36,400
Fixed Income		132,100		-		110,100		22,000
Total Return Fund		28,600		-		28,600		-
Cash Equivalents		8,500		-		8,500		-
	$	272,000		32,100		181,500		58,400
2013:
Equity:
Large Cap	$	14,700		14,700		-		-
Small Cap		18,400		18,400		-		-
International		40,100		-		40,100		-
Other		59,500		-		-		59,500
Fixed Income		103,700		-		100,700		3,000
Total Return Fund		27,900		-		27,900		-
Cash Equivalents		9,000		-		9,000		-
	$	273,300		33,100		177,700		62,500

Components of net periodic benefit cost (benefit)

For 2014, 2013 and 2012, the Company measured the assets and obligations of the Plans as of the fiscal year-end. The following is a detail of the components of the net periodic benefit cost for the three years ended December 28, 2014.

	2014			2013			2012
Components of Net Periodic Cost
Pension
Service cost	$	1,824			2,579			1,784
Interest cost		16,209			15,597			16,669
Expected return on assets		(18,631	)		(17,761	)		(18,097	)
Amortization of prior service cost		98			98			157
Amortization of actuarial loss		3,351			7,070			6,221
Curtailment/settlement losses		-			6,993			672
Net periodic benefit cost	$	2,851			14,576			7,406
Postretirement
Service cost	$	543			750			735
Interest cost		1,337			1,380			1,758
Amortization of actuarial (gain) loss		(457	)		(264	)		80
Net periodic benefit cost	$	1,423			1,866			2,573

Assumptions used to determine net periodic benefit cost of pension plan and postretirement plan

Assumptions used to determine net periodic benefit cost of the pension plan and postretirement plan for each fiscal year follow:

	2014	2013	2012
Pension
Weighted average discount rate	5.02%	4.49%	4.96%
Long-term rate of return on plan assets	7.00%	7.00%	7.00%
Postretirement
Discount rate	5.11%	4.34%	5.17%
Health care cost trend rate assumed for next year	7.00%	7.00%	7.00%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)	5.00%	5.00%	5.00%
Year that the rate reaches the ultimate trend rate	2020	2020	2020

Schedule of Expected Benefit Payments

Expected benefit payments under the defined benefit pension plans and the postretirement benefit plan for the next five years subsequent to 2014 and in the aggregate for the following five years are as follows:

	Pension		Postretirement
2015	$	19,838		2,041
2016		19,899		1,650
2017		20,632		1,603
2018		21,361		1,555
2019		21,822		1,490
2020-2024		116,138		6,923