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Employee Benefit Plans (Tables)
12 Months Ended
Oct. 03, 2015
Employee Benefit Plans [Abstract]  
Pretax Amount Recognized In Accumulated Other Comprehensive Income

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

2015

 

 

2014

Actuarial net loss

$

9,999 

 

$

10,469 

 

 

 

 

 

 

 

Summary Of Changes In Benefit Obligations And Plan Assets

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

2015

 

 

2014

Change in benefit obligation:

 

 

 

 

 

Projected benefit obligation, beginning of year 

$

28,618 

 

$

23,691 

Service cost

 

860 

 

 

800 

Interest cost

 

634 

 

 

833 

Actuarial loss

 

1,256 

 

 

5,762 

Exchange rate change

 

(3,491)

 

 

(1,830)

Benefits paid

 

(605)

 

 

(638)

Projected benefit obligation, end of year

$

27,272 

 

$

28,618 

 

 

 

 

 

 

Change in plan assets:

 

 

 

 

 

Fair value of plan assets, beginning of year

$

20,269 

 

$

18,589 

Actual return on plan assets

 

1,040 

 

 

2,978 

Employer contributions

 

605 

 

 

638 

Exchange rate change

 

(2,542)

 

 

(1,298)

Benefits paid

 

(605)

 

 

(638)

Fair value of plan assets, end of year

$

18,767 

 

$

20,269 

 

 

 

 

 

 

 

Summary Of Funded Status Of Defined Benefit Retirement Plan

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

2015

 

 

2014

Funded status:

 

 

 

 

 

Funded status, end of year

$

(8,505)

 

$

(8,349)

Accumulated other comprehensive loss

 

9,999 

 

 

10,469 

Net amount recognized

$

1,494 

 

$

2,120 

 

 

 

 

 

 

Amounts recognized in consolidated balance sheets:

 

 

 

 

 

Accrued payroll and related costs

$

(721)

 

$

(695)

Pension benefit plan obligation

 

(7,784)

 

 

(7,654)

Deferred income taxes

 

3,031 

 

 

3,175 

Accumulated other comprehensive income, net of tax

 

6,968 

 

 

7,294 

Net amount recognized

$

1,494 

 

$

2,120 

 

 

 

 

 

 

 

Weighted Average Assumptions Used To Determine The Defined Benefit Retirement Plan Obligation

 

 

 

 

 

 

 

 

 

 

 

 

 

2015 

 

 

2014 

 

Discount rate

2.27 

%

 

2.48 

%

Expected rate of return on plan assets

5.50 

%

 

5.50 

%

Expected rate of increase in future compensation levels 

3.00 

%

 

3.40 

%

 

 

 

 

 

 

 

Actual Defined Benefit Retirement Plan Asset Allocations

 

 

 

 

 

 

 

 

 

 

 

 

 

Percentage of Plan Assets

 

2015

 

 

2014

 

Fixed income securities1

83.0 

%

 

49.0 

%

Cash and cash equivalents2

13.0 

%

 

51.0 

%

Other

4.0 

%

 

 -

%

Total

100.0 

%

 

100.0 

%

 

 

 

 

 

 

1Fixed income securities are comprised primarily of international government agency and international corporate bonds with investment grade ratings.

2Cash and cash equivalents include deposit accounts holding cash in Euros and other currencies and term deposits primarily held as collateral for equity futures. The market values of the equity and futures are linked to the values of equity indexes of developed country markets, including the U.S., Great Britain, Europe, Canada, Switzerland and Japan.

Defined Benefit Retirement Plan Assets Subject To Fair Value Measurements

 

 

 

 

 

 

 

 

 

 

 

 

 

October 3, 2015

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

Mutual fund1

$

 -

 

$

18,767 

 

$

 -

 

$

18,767 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 27, 2014

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

Mutual fund1

$

 -

 

$

20,269 

 

$

 -

 

$

20,269 

 

 

 

 

 

 

 

 

 

 

 

 

 

1The fair value of the mutual fund is generally valued based on closing prices from national exchanges, if the underlying securities are traded on an active market, or fixed income pricing models that use observable market inputs.

Net Periodic Benefit Cost For Defined Benefit Retirement Plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

2015

 

 

2014

 

 

2013

Service cost

$

860 

 

$

800 

 

$

690 

Interest cost

 

634 

 

 

833 

 

 

768 

Expected return on plan assets

 

(1,009)

 

 

(1,024)

 

 

(690)

Net amortization and deferral

 

501 

 

 

464 

 

 

520 

Special termination benefits

 

 -

 

 

25 

 

 

 -

Net periodic benefit cost

$

986 

 

$

1,098 

 

$

1,288 

 

 

 

 

 

 

 

 

 

 

Expected Future Pension Benefit Payments

 

 

 

 

 

 

 

 

 

 

Pension Benefits

Fiscal Year

 

(in thousands)

2015

 

$

721 

2016

 

 

740 

2017

 

 

774 

2018

 

 

835 

2019

 

 

879 

2020 through 2024

 

 

5,292 

Total

 

$

9,241