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Employee Retirement Plans (Tables)
 12 Months Ended
Jan. 02, 2016
Compensation and Retirement Disclosure [Abstract]  
Schedule of Defined Benefit Plans Disclosures
A summary of the plans’ net periodic pension cost, benefit obligations, funded status, and net balance sheet position is as follows (dollars in thousands):
 
Fiscal 2015
 
Fiscal 2014
 
U.S. Plans
 
Non-U.S. Plans
 
U.S. Plans
 
Non-U.S. Plans
Net Periodic Pension Cost:
 

 
 

 
 

 
 

Service cost
$
505

 
$
1,216

 
$
447

 
$
—

Interest cost
1,286

 
12,992

 
1,289

 
639

Expected return on assets
(844
)
 
(20,547
)
 
(799
)
 
(996
)
Amortization of net loss (gain)
694

 
—

 
(46
)
 
—

Curtailment loss
—

 
3,202

 
—

 
—

Pension settlement
—

 
—

 
—

 
—

 
$
1,641

 
$
(3,137
)
 
$
891

 
$
(357
)
 
 
 
 
 
 
 
 
Change in Benefit Obligation:
 

 
 

 
 

 
 

Benefit obligation – beginning of year
$
33,907

 
$
16,114

 
$
27,748

 
$
15,745

Benefit obligation – acquisition
2,988

 
1,495,089

 
—

 
—

Service cost
505

 
1,216

 
447

 
—

Interest on benefit obligations
1,286

 
12,992

 
1,289

 
639

Employee contributions
—

 
182

 
—

 
—

Actuarial (gain) loss
(2,960
)
 
8,668

 
5,293

 
1,273

Pension settlement
—

 
—

 
—

 
—

Net benefit payments
(922
)
 
(24,179
)
 
(870
)
 
(634
)
Curtailment loss
—

 
3,202

 
—

 
—

Exchange effect
—

 
(36,914
)
 
—

 
(909
)
Benefit obligation – end of year
$
34,804

 
$
1,476,370

 
$
33,907

 
$
16,114

 
 
 
 
 
 
 
 
Change in Plan Assets:
 

 
 

 
 

 
 

Plan assets at fair value – beginning of year
$
13,575

 
$
15,306

 
$
13,324

 
$
15,172

Plan assets at fair value – acquisition
2,943

 
1,305,506

 
—

 
—

Company contributions
881

 
16,950

 
913

 
511

Investment (loss) gain
(590
)
 
6,173

 
208

 
1,133

Employee contributions
—

 
182

 
—

 
—

Benefit payments and plan expenses
(922
)
 
(24,179
)
 
(870
)
 
(634
)
Exchange effect
—

 
(32,215
)
 
—

 
(876
)
Plan assets at fair value – end of year
$
15,887

 
$
1,287,723

 
$
13,575

 
$
15,306

 
 
 
 
 
 
 
 
Funded Status:
 

 
 

 
 

 
 

Unfunded benefit obligation
$
(18,917
)
 
$
(188,647
)
 
$
(20,332
)
 
$
(808
)
 
 
 
 
 
 
 
 
Amounts recognized in balance sheet at year end:
 

 
 

 
 

 
 

Accrued pension benefits
$
(18,917
)
 
$
(188,647
)
 
$
(20,332
)
 
$
(808
)
 
 
 
 
 
 
 
 
Pre-tax components in accumulated other comprehensive income:
 

 
 

 
 

 
 

Net actuarial loss
$
5,811

 
$
20,457

 
$
8,030

 
$
2,188

Net prior service cost
—

 
—

 
—

 
—

Net transaction (asset) obligations
—

 
—

 
—

 
—

Total amount recognized
$
5,811

 
$
20,457

 
$
8,030

 
$
2,188

 
 
 
 
 
 
 
 
Accumulated Benefit Obligation
$
33,080

 
$
1,475,631

 
$
30,567

 
$
16,114

 
 
 
 
 
 
 
 
Salary growth rate
n/a

 
0.4
%
 
n/a

 
n/a

Assumed discount rate
4.1
%
 
3.7
%
 
3.8
%
 
3.6
%
Expected return on assets
5.6
%
 
6.2
%
 
6.0
%
 
6.3
%
Schedule of Allocation of Plan Assets
The assets of the plans were invested in the following classes of securities (none of which were securities of the company):
 
U.S. Plans:
 
 
Target Allocation

 
Percentage of Plan Assets
 
 
 
 
2015

 
2014

Equity
45
%
 
43
%
 
48
%
Fixed income
45

 
46

 
36

Money market
3

 
4

 
4

Other (real estate investment trusts & commodities contracts)
7

 
7

 
12

 
 
 
 
 
 
 
100
%
 
100
%
 
100
%
 
Non-U.S. Plans:

 
Target Allocation

 
Percentage of Plan Assets
 
 
 
2015

 
2014

Equity
16
%
 
19
%
 
72
%
Fixed income
45

 
44

 
24

Alternatives/Other
28

 
20

 
—

Real Estate
11

 
12

 
—

Cash and cash equivalents
—

 
5

 
4

 
100
%
 
100
%
 
100
%
 
Pension Plans Fair Value Of Investments
The following tables summarize the basis used to measure the pension plans’ assets at fair value as of January 2, 2016 (in thousands):
     
U.S. Plans:
Asset Category
 
Total

 
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)

 
Significant
Observable
Inputs
(Level 2)

 
Significant
Unobservable
Inputs
(Level 3)

 
 
 
 
 
 
 
 
 
Short Term Investment Fund (a)
 
$
1,371

 
$
—

 
$
1,371

 
$
—

 
 
 
 
 
 
 
 
 
Equity Securities:
 
 

 
 

 
 

 
 

Large Cap
 
3,402

 
3,149

 
253

 
—

Mid Cap
 
437

 
383

 
54

 
—

Small Cap
 
575

 
383

 
192

 
—

International
 
2,298

 
2,291

 
7

 
—

 
 
 
 
 
 
 
 
 
Fixed Income:
 
 

 
 

 
 

 
 

Government/Corporate
 
4,831

 
4,311

 
520

 
—

High Yield
 
819

 
778

 
41

 
—

 
 
 
 
 
 
 
 
 
Alternative:
 
 

 
 

 
 

 
 

Global Real Estate Investment Trust
 
1,773

 
771

 
1,002

 
—

Commodities Contracts
 
381

 
381

 
—

 
—

 
 
 
 
 
 
 
 
 
Total
 
$
15,887

 
$
12,447

 
$
3,440

 
$
—



(a)
Represents collective short term investment fund, composed of high-grade money market instruments with short maturities.

Non-U.S. Plans:
Asset Category
 
Total

 
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)

 
Significant
Observable
Inputs
(Level 2)

 
Significant
Unobservable
Inputs
(Level 3)

Cash and cash equivalents
 
$
73,005

 
$
64,651

 
$
8,354

 
$
—

 
 
 
 
 
 
 
 
 
Equity Securities:
 
 

 
 

 
 

 
 

UK
 
91,269

 
91,075

 
194

 
—

International:
 
 
 
 
 
 
 
 
Developed
 
147,278

 
144,864

 
2,414

 
—

Emerging
 
6,375

 
6,375

 
—

 
—

Unquoted/Private Equity
 
759

 
759

 
—

 
—

 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
Government/Corporate:
 
 
 
 
 
 
 
 
UK
 
168,708

 
118,332

 
50,376

 
—

International
 
126,735

 
67,217

 
59,518

 
—

Index Linked
 
258,502

 
258,502

 
—

 
—

Other
 
3,518

 
3,518

 
—

 
—

Convertible Bonds
 
1,471

 
1,471

 
—

 
—

 
 
 
 
 
 
 
 
 
Real Estate:
 
 
 
 
 
 
 
 
Direct
 
140,764

 
—

 
140,764

 
—

Indirect
 
13,617

 
177

 
13,440

 
—

 
 
 
 
 
 
 
 
 
Hedge Fund Strategy:
 
 
 
 
 
 
 
 
Equity Long/Short
 
80,230

 
—

 
80,230

 
—

Arbitrage & Event
 
92,635

 
—

 
92,635

 
—

Directional Trading & Fixed Income
 
55,424

 
3,584

 
51,840

 
—

Cash & Other
 
2,557

 
—

 
2,557

 
—

Direct Sourcing
 
1,655

 
—

 
1,655

 
—

 
 
 
 
 
 
 
 
 
Leveraged Loans
 
10,824

 
—

 
10,824

 
—

 
 
 
 
 
 
 
 
 
Alternative/Other
 
12,397

 
12,062

 
335

 
—

 
 
 
 
 
 
 
 
 
 
 
$
1,287,723

 
$
772,587

 
$
515,136

 
$
—


 
Schedule of Expected Benefit Payments
Estimated future benefit payments under the plans are as follows (dollars in thousands):
 
 
U.S.
Plans
 
Non-U.S.
Plans
2016
$
1,184

 
$
63,628

2017
1,203

 
65,323

2018
1,907

 
66,322

2019
1,909

 
68,185

2020 through 2025
11,913

 
427,101