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Other Postretirement Benefits (Tables) - Other Postretirement Benefit Plans
12 Months Ended
Dec. 27, 2020
Other Postretirement Benefits  
Schedule of Components of Net Periodic Postretirement Benefit Cost
The components of net periodic postretirement benefit cost/(income) were as follows:
(In thousands)December 27,
2020
December 29,
2019
December 30,
2018
Service cost$29 $27 $21 
Interest cost1,026 1,602 1,476 
Amortization and other costs3,051 3,375 4,735 
Amortization of prior service credit(4,225)(4,766)(6,157)
Net periodic postretirement benefit cost/(income)$(119)$238 $75 
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
The changes in the benefit obligations recognized in other comprehensive loss/(income) were as follows:
(In thousands)December 27,
2020
December 29,
2019
December 30,
2018
Net actuarial loss/(gain)$4,044 $296 $(4,905)
Amortization of loss(3,051)(3,375)(4,735)
Amortization of prior service credit4,225 4,766 6,157 
Total recognized in other comprehensive loss/(income)5,218 1,687 (3,483)
Net periodic postretirement benefit cost/(income)(119)238 75 
Total recognized in net periodic postretirement benefit cost/(income) and other comprehensive loss/(income)$5,099 $1,925 $(3,408)
Schedule of Changes in Projected Benefit Obligations and Plan Assets
The changes in the benefit obligation and plan assets and other amounts recognized in other comprehensive loss were as follows:
(In thousands)December 27,
2020
December 29,
2019
Change in benefit obligation
Benefit obligation at beginning of year$42,803 $46,037 
Service cost29 27 
Interest cost1,026 1,602 
Plan participants’ contributions2,820 3,835 
Actuarial loss4,044 296 
Benefits paid(7,414)(8,994)
Benefit obligation at the end of year43,308 42,803 
Change in plan assets
Employer contributions4,594 5,159 
Plan participants’ contributions2,820 3,835 
Benefits paid(7,414)(8,994)
Fair value of plan assets at end of year — 
Net amount recognized$(43,308)$(42,803)
Amount recognized in the Consolidated Balance Sheets
Current liabilities$(4,618)$(5,115)
Noncurrent liabilities(38,690)(37,688)
Net amount recognized$(43,308)$(42,803)
Amount recognized in accumulated other comprehensive loss
Actuarial loss$26,785 $25,793 
Prior service credit(3,466)(7,691)
Total$23,319 $18,102 
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
Information for postretirement plans with accumulated benefit obligations in excess of plan assets was as follows:
(In thousands)December 27,
2020
December 29,
2019
Accumulated benefit obligation$43,308 $42,803 
Fair value of plan assets$ $— 
Schedule of Assumptions Used
Weighted-average assumptions used in the actuarial computations to determine the postretirement benefit obligations were as follows:
December 27,
2020
December 29,
2019
Discount rate2.01 %2.94 %
Estimated increase in compensation level3.50 %3.50 %
Weighted-average assumptions used in the actuarial computations to determine net periodic postretirement cost were as follows:
December 27,
2020
December 29,
2019
December 30,
2018
Discount rate for determining projected benefit obligation2.94 %4.18 %3.46 %
Discount rate in effect for determining service cost3.04 %4.19 %3.56 %
Discount rate in effect for determining interest cost2.55 %3.71 %3.01 %
Estimated increase in compensation level3.50 %3.50 %3.50 %
Schedule of Health Care Cost Trend Rates
The assumed health-care cost trend rates were as follows:
December 27,
2020
December 29,
2019
Health-care cost trend rate5.95 %6.57 %
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)4.92 %5.00 %
Year that the rate reaches the ultimate trend rate20272025
Schedule of Expected Benefit Payments
The following benefit payments (net of plan participant contributions) under our Company’s postretirement plans, which reflect expected future services, are expected to be paid:
(In thousands)Amount
2021$4,716 
20224,417 
20234,173 
20243,886 
20253,594 
2026-2030(1)
14,130 
(1)While benefit payments under these plans are expected to continue beyond 2030, we have presented in this table only those benefit payments estimated over the next 10 years.