XML 43 R29.htm IDEA: XBRL DOCUMENT v3.6.0.2
Employee Benefit Plans (Tables)
12 Months Ended
Dec. 29, 2016
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Schedule of Changes in Projected Benefit Obligations
The status of the Company’s unfunded nonqualified, defined-benefit and account-based retirement plan based on the respective December 29, 2016 and December 31, 2015 measurement dates is as follows:
 
 
 
December 29,
 
December 31,
 
 
 
2016
 
2015
 
 
 
 
 
 
 
 
 
 
 
(in thousands)
 
Change in benefit obligation:
 
 
 
 
 
 
 
Benefit obligation at beginning of period
 
$
31,671
 
$
31,037
 
Service cost
 
 
865
 
 
459
 
Interest cost
 
 
1,406
 
 
765
 
Actuarial loss
 
 
82
 
 
104
 
Curtailment
 
 
(261)
 
 
 
Benefits paid
 
 
(1,240)
 
 
(694)
 
Benefit obligation at end of year
 
$
32,523
 
$
31,671
 
 
 
 
 
 
 
 
 
Amounts recognized in the statement of financial position consist of:
 
 
 
 
 
 
 
Current accrued benefit liability (included in Other accrued liabilities)
 
$
(1,252)
 
$
(1,191)
 
Noncurrent accrued benefit liability (included in Deferred compensation and other)
 
 
(31,271)
 
 
(30,480)
 
Total
 
$
(32,523)
 
$
(31,671)
 
 
 
 
 
 
 
 
 
Amounts recognized in accumulated other comprehensive loss consist of:
 
 
 
 
 
 
 
Net actuarial loss
 
$
9,049
 
$
9,410
 
Prior service credit
 
 
(642)
 
 
(711)
 
Total
 
$
8,407
 
$
8,699
 
Schedule of Net Periodic Benefit Cost Not yet Recognized
 
 
 
Year Ended
 
31 Weeks Ended
 
Year Ended
 
 
 
December 29,
 
December 31,
 
May 28,
 
May 29,
 
 
 
2016
 
2015
 
2015
 
2014
 
 
 
(in thousands)
 
Net periodic pension cost:
 
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
 
$
865
 
$
459
 
$
697
 
$
702
 
Interest cost
 
 
1,406
 
 
765
 
 
1,243
 
 
1,173
 
Net amortization of prior service cost and actuarial loss
 
 
364
 
 
211
 
 
326
 
 
268
 
Curtailment gain
 
 
(251)
 
 
 
 
 
 
 
 
 
$
2,384
 
$
1,435
 
$
2,266
 
$
2,143
 
Schedule of Assumptions Used
The weighted-average assumptions used to determine the benefit obligations as of the measurement dates were as follows:
 
 
 
December 29, 2016
 
December 31, 2015
 
Discount rate
 
 
4.15
%
 
4.40
%
Rate of compensation increase
 
 
4.00
%
 
4.00
%
 
The weighted-average assumptions used to determine net periodic benefit cost were as follows:
 
 
 
 
 
31 Weeks
 
 
 
 
 
 
 
 
 
Year Ended
 
Ended
 
Year Ended
 
 
 
December 29,
 
December 31,
 
 
 
 
 
 
 
 
 
2016
 
2015
 
May 28, 2015
 
May 29, 2014
 
Discount rate
 
 
4.40
%
 
4.20
%
 
4.30
%
 
4.40
%
Rate of compensation increase
 
 
4.00
%
 
4.00
%
 
4.00
%
 
4.00
%
Schedule of Expected Benefit Payments
Benefit payments and contributions expected to be paid subsequent to December 29, 2016, are:
 
Fiscal Year
 
(in thousands)
 
2017
 
$
1,252
 
2018
 
 
1,337
 
2019
 
 
1,349
 
2020
 
 
1,520
 
2021
 
 
1,475
 
Years 2022 – 2026
 
 
10,995