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Other Postretirement Benefits (Tables) - Other Postretirement Benefit Plans
12 Months Ended
Dec. 26, 2021
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 26,
2021
December 27,
2020
December 29,
2019
Service cost$53 $29 $27 
Interest cost565 1,026 1,602 
Amortization and other costs3,407 3,051 3,375 
Amortization of prior service credit(3,098)(4,225)(4,766)
Net periodic postretirement benefit cost/(income)$927 $(119)$238 
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
The changes in the benefit obligations recognized in other comprehensive loss were as follows:
(In thousands)December 26,
2021
December 27,
2020
December 29,
2019
Net actuarial loss$2,254 $4,044 $296 
Amortization of loss(3,407)(3,051)(3,375)
Amortization of prior service credit3,098 4,225 4,766 
Total recognized in other comprehensive loss1,945 5,218 1,687 
Net periodic postretirement benefit cost/(income)927 (119)238 
Total recognized in net periodic postretirement benefit cost/(income) and other comprehensive loss$2,872 $5,099 $1,925 
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 26,
2021
December 27,
2020
Change in benefit obligation
Benefit obligation at beginning of year$43,308 $42,803 
Service cost53 29 
Interest cost565 1,026 
Plan participants’ contributions2,319 2,820 
Actuarial loss2,254 4,044 
Benefits paid(7,892)(7,414)
Benefit obligation at the end of year40,607 43,308 
Change in plan assets
Employer contributions5,573 4,594 
Plan participants’ contributions2,319 2,820 
Benefits paid(7,892)(7,414)
Fair value of plan assets at end of year — 
Net amount recognized$(40,607)$(43,308)
Amount recognized in the Consolidated Balance Sheets
Current liabilities$(4,521)$(4,618)
Noncurrent liabilities(36,086)(38,690)
Net amount recognized$(40,607)$(43,308)
Amount recognized in accumulated other comprehensive loss
Actuarial loss$25,632 $26,785 
Prior service credit(368)(3,466)
Total$25,264 $23,319 
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 26,
2021
December 27,
2020
Accumulated benefit obligation$40,607 $43,308 
Fair value of plan assets$ $— 
Schedule of Assumptions Used
Weighted-average assumptions used in the actuarial computations to determine the postretirement benefit obligations were as follows:
December 26,
2021
December 27,
2020
Discount rate2.55 %2.01 %
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 26,
2021
December 27,
2020
December 29,
2019
Discount rate for determining projected benefit obligation2.01 %2.94 %4.18 %
Discount rate in effect for determining service cost2.09 %3.04 %4.19 %
Discount rate in effect for determining interest cost1.38 %2.55 %3.71 %
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 26,
2021
December 27,
2020
Health-care cost trend rate5.99 %5.95 %
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)4.92 %4.92 %
Year that the rate reaches the ultimate trend rate20302027
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
2022$4,620 
20234,328 
20244,032 
20253,778 
20263,514 
2027-2031(1)
13,781 
(1)While benefit payments under these plans are expected to continue beyond 2031, we have presented in this table only those benefit payments estimated over the next 10 years.