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Note 9 - Postretirement and Postemployment Benefits (Tables)
12 Months Ended
Sep. 26, 2021
Notes Tables  
Schedule of Health Care Cost Trend Rates [Table Text Block]
  

September 26

  

September 27

 

(Percent)

 

2021

  

2020

 
         

Health care cost trend rates

 6.2  6.4 

Rate to which the cost trend rate is assumed to decline (the “Ultimate Trend Rate”)

 4.5  4.5 

Year in which the rate reaches the Ultimate Trend Rate

 2030  2030 
Other Postretirement Benefits Plan [Member]  
Notes Tables  
Schedule of Defined Benefit Plans Disclosures [Table Text Block]

(Thousands of Dollars)

 

2021

  

2020

  

2019

 
             

Service cost for benefits earned during the year

  207   500    

Interest cost on projected benefit obligation

  429   869   412 

Expected return on plan assets

  (1,007)  (1,060)  (1,082)

Amortization of net actuarial gain

  (685)  (743)  (976)

Amortization of prior service benefit

  (647)  (647)  (723)

Curtailment gains

  (23,830)      

Net periodic postretirement benefit

  (25,533)  (1,081)  (2,369)
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block]

(Thousands of Dollars)

 

2021

  

2020

 
         

Benefit obligation, beginning of year

  47,637   11,752 

Business combination

     36,800 

Service cost

  207   500 

Interest cost

  429   869 

Liability (gain) loss due to Curtailment

  (23,830)   

Actuarial loss (gain)

  (4,285)  (982)

Benefits paid, net of premiums received

  (1,678)  (1,374)

Medicare Part D subsidies

  58   72 

Benefit obligation, end of year

  18,538   47,637 

Fair value of plan assets, beginning of year

  25,706   24,135 

Business combination

      

Actual return on plan assets

  1,534   1,594 

Employer contributions

  1,293   646 

Benefits paid, net of premiums and Medicare Part D subsidies received

  (1,795)  (1,077)

Benefits paid for active employees

  64   (438)

One time asset transfer

     846 

Fair value of plan assets at measurement date

  26,802   25,706 

Funded status

  8,264   (21,931)
Schedule of Amounts Recognized in Balance Sheet [Table Text Block]
  

September 26

  

September 27

 

(Thousands of Dollars)

 

2021

  

2020

 
         

Non-current assets

 17,664  15,241 

Postretirement benefit obligations

 (9,859) (37,172)

Accumulated other comprehensive income (before income tax benefit)

 17,747  14,269 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]
  

September 26

  

September 27

 

(Thousands of Dollars)

 

2021

  

2020

 
         

Unrecognized net actuarial gain

 14,071  4,826 

Unrecognized prior service benefit

 3,676  9,443 
   17,747   14,269 
Defined Benefit Plan, Assumptions [Table Text Block]
  

September 26

  

September 27

 

(Percent)

 

2021

  

2020

 
         

Discount rate

 2.6  2.7 

Expected long-term return on plan assets

 4.0  4.5 

(Percent)

 

2021

  

2020

  

2019

 
             

Discount rate - service cost

 2.5  3.4  4.0 

Discount rate - interest cost

 1.9  2.8  3.7 

Expected long-term return on plan assets

 4.0  4.5  4.5 
Schedule of Allocation of Plan Assets [Table Text Block]

(Percent)

 

Policy Allocation

  

Actual Allocation

 
      

September 26

  

September 27

 

Asset Class

 

September 26 2021

  

2021

  

2020

 
             

Equity securities

 20  20  20 

Debt securities

 70  68  70 

Hedge fund investment

 10  12  10 

Cash and cash equivalents

      
Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

(Thousands of Dollars)

 

NAV

  

Level 1

  

Level 2

  

Level 3

 
                 

Cash and cash equivalents

   25     

Domestic equity securities

 904  2,643     

Emerging equity securities

   603     

International equity securities

   747  660   

Debt securities

   18,363     

Hedge fund investment

 3,235       

(Thousands of Dollars)

 

NAV

  

Level 1

  

Level 2

  

Level 3

 
                 

Cash and cash equivalents

     59       

Domestic equity securities

  590   2,868       

Emerging equity securities

     539       

International equity securities

     579   759    

Debt securities

     18,229       

Hedge fund investment

  2,754          
Schedule of Expected Benefit Payments [Table Text Block]
       

Less

     
       

Medicare

     
   

Gross

  

Part D

  

Net

 

(Thousands of Dollars)

  

Payments

  

Subsidy

  

Payments

 
              

2022

   1,479   (58)  1,421 

2023

   1,424   (55)  1,369 

2024

   1,383   (51)  1,332 

2025

   1,326   (47)  1,279 

2026

   1,277   (43)  1,234 
2027-2031   5,439   (158)  5,281