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Pension, Postretirement and Postemployment Benefits (Tables)
12 Months Ended
Dec. 30, 2018
Pension, Postretirement and Postemployment Benefits [Abstract]  
Summary of Changes in Projected Benefit Obligation, Plan Assets and Funded Status
PensionPostretirement
2018201720182017
Change in Projected Benefit Obligation
Projected benefit obligation – beginning$393,367372,82432,15328,484
Service cost1,3001,290756691
Interest cost13,35815,3031,1711,179
Amendment(78)
Actuarial (gain) loss13,01027,670(2,339)3,432
Benefits paid(22,718)(22,579)(1,660)(1,633)
Expenses paid(2,521)(1,141)
Projected benefit obligation – ending$395,718393,36730,08132,153
Accumulated benefit obligation – ending$395,718393,36730,08132,153
Change in Plan Assets
Fair value of plan assets – beginning$382,989309,380
Actual return on plan assets(3,328)44,562
Employer contribution2,80252,767
Benefits paid(22,718)(22,579)
Expenses paid(2,521)(1,141)
Fair value of plan assets – ending$357,224382,989
Reconciliation of Funded Status
Projected benefit obligation$(395,718)(393,367)(30,081)(32,153)
Fair value of plan assets357,224382,989
Funded status(38,494)(10,378)(30,081)(32,153)
Unrecognized net loss155,829132,0883,3505,853
Net amount$117,335121,710(26,731)(26,300)
Accrued liabilities$(8,946)(2,448)(1,607)(1,630)
Other liabilities(29,548)(7,930)(28,474)(30,523)
Accumulated other comprehensive earnings (loss)155,829132,0883,3505,853
Net amount$117,335121,710(26,731)(26,300)
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:
20182017
Pension
Weighted average discount rate3.72%3.71%
Mortality tableRP-2014/Scale BBRP-2014/Scale BB
Postretirement
Discount rate4.33%3.74%
Health care cost trend rate assumed for next year6.50%6.50%
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 trend20242024
Fair Values of Plan Assets by Asset Class and Fair Value Hierarchy Level
Fair value measurements using:
Quoted
Prices in
ActiveSignificant
Markets ForOtherSignificant
Identical ObservableUnobservable
FairAssetsInputsInputs
Value(Level 1)(Level 2)(Level 3)
2018
Equity:
Other measured at net asset value (a)300
Fixed Income measured at net asset value (a)251,300251,300
Cash Equivalents measured as net asset value (a)105,600
$357,200251,300
2017
Equity:
Large Cap$38,40038,400
Small Cap25,30025,300
International measured at net asset value (a)43,90043,900
Other measured at net asset value (a)300
Fixed Income measured at net asset value (a)217,200
Total Return Fund measured at net asset value (a)26,90026,900
Cash Equivalents measured as net asset value (a)31,000
$383,000134,500
(a) Certain investments that are measured at fair value using the net asset value per share are not classified in the fair value
hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy
to the amounts presented in the Schedule of Changes in Plan Assets disclosed previously in this note.
Components of Net Periodic Benefit Cost
The following is a detail of the components of the net periodic benefit cost for the three years ended December 30, 2018.
201820172016
Components of Net Periodic Cost
Pension
Service cost$1,3001,2902,100
Interest cost13,35815,30316,106
Expected return on assets(18,475)(19,534)(17,013)
Amortization of actuarial loss10,9959,0827,361
Net periodic benefit cost$7,1786,1418,554
Postretirement
Service cost$756691532
Interest cost1,1711,1791,175
Amortization of actuarial loss165
Net periodic benefit cost (income)$2,0921,8701,707
Assumptions Used to Determine Net Periodic Benefit Cost of Pension Plan and Postretirement Plan
201820172016
Pension
Weighted average discount rate3.71%4.22%4.58%
Long-term rate of return on plan assets4.75%6.25%6.75%
Postretirement
Discount rate3.74%4.26%4.64%
Health care cost trend rate assumed for next year6.50%7.00%7.00%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)5.00%5.00%5.00%
Year that the rate reaches the ultimate trend rate202420212021
Schedule of Expected Benefit Payments
PensionPostretirement
2019$ 368,278 1,641
2020 2,465 1,594
2021 2,434 1,548
2022 2,410 1,510
2023 2,420 1,472
2024-2028 11,634 7,031