Benefit Obligations

3 Months Ended

Mar. 30, 2014

Defined Benefit Pension Plans And Defined Benefit Postretirement Plans Disclosure [Abstract]

Benefit Obligations

Note 5 — Benefit Obligations

The Company provides retirement benefits to certain current and former U.S. employees under defined benefit pension plans, which include a management plan and a represented plan. Benefits under the management plan are provided under either an adjusted career-average-pay program or a cash-balance program. Benefits under the represented plan are based on a dollar-per-month formula. Benefit accruals under the management plan were frozen in 2009. Participants in the adjusted career-average-pay program no longer earn service accruals. Participants in the cash-balance program no longer earn service accruals, but continue to earn 4% interest per year on their cash-balance accounts. There are no active participants under the represented plan.

The Company also has a non-qualified supplemental pension plan in the U.S. that principally provides benefits based on compensation in excess of amounts that can be considered under the management plan. In addition, the Company provides post-retirement life insurance coverage under a group life insurance plan for certain U.S. employees. The Company also has pension plans covering certain international employees.

The following table summarizes the components of the net periodic benefit cost/(credit):

	Three Months Ended
	March 30, 2014						March 31, 2013
	Pension Benefits			Post-retirement Benefits			Pension Benefits			Post-retirement Benefits
	(In thousands)
Service cost	$	99		$	—		$	123		$	25
Interest cost		15,613			625			14,270			600
Expected return on plan assets		(17,826	)		(950	)		(16,581	)		(875	)
Net actuarial loss, prior service cost and transition asset amortization		3,168			25			4,669			375
Total benefit cost/(credit)	$	1,054		$	(300	)	$	2,481		$	125

During the three months ended March 30, 2014, the Company contributed $11.0 million to its pension plans. The Company expects to contribute an additional $64.9 million to its pension plans during the remainder of 2014. The Company does not expect to contribute to its post-retirement benefit plan in 2014.