Retirement Plans (Tables)

12 Months Ended

Jan. 02, 2021

Retirement Benefits [Abstract]

Summary of Change in Benefit Obligations, Change in Plan Assets and Unfunded Status of DB Plans

The following table summarizes the change in the projected benefit obligation, change in plan assets and unfunded status of the DB plans as of January 2, 2021 and December 28, 2019:

	January 2, 2021
(in millions of U.S. dollars)	U.S.		International		Total
Change in Projected Benefit Obligation
Projected benefit obligation at beginning of year	$	8.6	$	13.1	$	21.7
Service cost	—		1.0		1.0
Interest cost	0.3		0.1		0.4
Plan participant contributions	—		0.3		0.3
Benefit payments	(0.4)		(1.1)		(1.5)
Actuarial losses (gains)	1.0		(0.2)		0.8
Curtailment gains	—		(0.9)		(0.9)
Translation losses	—		1.1		1.1
Projected benefit obligation at end of year	$	9.5	$	13.4	$	22.9
Change in Plan Assets
Plan assets beginning of year	$	8.1	$	5.9	$	14.0
Employer contributions	0.3		0.5		0.8
Plan participant contributions	—		0.3		0.3
Benefit payments	(0.4)		(0.8)		(1.2)
Curtailment losses	—		(0.6)		(0.6)
Expected return on plan assets	—		0.2		0.2
Actual return on plan assets	1.1		—		1.1
Translation gains	—		0.5		0.5
Fair value at end of year	$	9.1	$	6.0	$	15.1
Funded Status of Plan
Projected benefit obligation	$	(9.5)	$	(13.4)	$	(22.9)
Fair value of plan assets	9.1		6.0		15.1
Unfunded status	$	(0.4)	$	(7.4)	$	(7.8)

	December 28, 2019
(in millions of U.S. dollars)	U.S.		International		Total
Change in Projected Benefit Obligation
Projected benefit obligation at beginning of year	$	7.9	$	10.8	$	18.7
Plan amendment	—		0.4		0.4
Service cost	—		0.8		0.8
Interest cost	0.3		0.2		0.5
Plan participant contributions	—		0.3		0.3
Benefit payments	(0.4)		(1.5)		(1.9)
Actuarial losses	0.8		1.5		2.3
Translation losses	—		0.6		0.6
Projected benefit obligation at end of year	$	8.6	$	13.1	$	21.7
Change in Plan Assets
Plan assets beginning of year	$	6.9	$	5.8	$	12.7
Employer contributions	0.3		0.5		0.8
Plan participant contributions	—		0.3		0.3
Benefit payments	(0.4)		(1.0)		(1.4)
Settlement gains	—		0.2		0.2
Actual return on plan assets	1.3		(0.1)		1.2
Translation gains	—		0.2		0.2
Fair value at end of year	$	8.1	$	5.9	$	14.0
Funded Status of Plan
Projected benefit obligation	$	(8.6)	$	(13.1)	$	(21.7)
Fair value of plan assets	8.1		5.9		14.0
Unfunded status	$	(0.5)	$	(7.2)	$	(7.7)

Schedule of Components of Net Periodic Pension Cost

The components of net periodic pension cost were as follows:

	January 2, 2021
(in millions of U.S. dollars)	U.S.		International		Total
Service cost	$	—	$	1.0	$	1.0
Interest cost	0.3		0.1		0.4
Expected return on plan assets	(0.5)		(0.1)		(0.6)
Curtailment gain	—		(0.3)		(0.3)
Net periodic pension (benefit) cost	$	(0.2)	$	0.7	$	0.5

	December 28, 2019
(in millions of U.S. dollars)	U.S.		International		Total
Service cost	$	—	$	0.8	$	0.8
Interest cost	0.3		0.2		0.5
Expected return on plan assets	(0.5)		—		(0.5)
Net periodic pension (benefit) cost	$	(0.2)	$	1.0	$	0.8

	December 29, 2018
(in millions of U.S. dollars)	U.S.		International		Total
Service cost	$	—	$	0.8	$	0.8
Interest cost	0.3		0.1		0.4
Expected return on plan assets	(0.5)		—		(0.5)
Recognized net gain due to settlement	—		(0.3)		(0.3)
Net periodic pension (benefit) cost	$	(0.2)	$	0.6	$	0.4

Schedule of Amounts Included in Accumulated Other Comprehensive Loss, Net of Tax which have Not yet been Recognized in Net Periodic Benefit Cost

Amounts included in accumulated other comprehensive (loss) income, net of tax, at year-end which have not yet been recognized in net periodic benefit cost were as follows:

	January 2, 2021
(in millions of U.S. dollars)	U.S.		International		Total
Unrecognized net actuarial loss	$	(0.4)	$	(0.7)	$	(1.1)
Total accumulated other comprehensive loss	$	(0.4)	$	(0.7)	$	(1.1)
	December 28, 2019
(in millions of U.S. dollars)	U.S.		International		Total
Unrecognized net actuarial loss	$	(0.1)	$	(0.9)	$	(1.0)
Total accumulated other comprehensive loss	$	(0.1)	$	(0.9)	$	(1.0)
	December 29, 2018
(in millions of U.S. dollars)	U.S.		International		Total
Unrecognized net actuarial (loss) income	$	(0.1)	$	0.4	$	0.3
Total accumulated other comprehensive (loss) income	$	(0.1)	$	0.4	$	0.3

Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Cost

The following table summarizes the weighted average actuarial assumptions used to determine the projected benefit obligation:

	For the Year Ended
	January 2, 2021		December 28, 2019		December 29, 2018
U.S. Plans
Discount rate	2.0	%	3.0	%	4.0	%
Expected long-term rate of return on plan assets	6.3	%	6.3	%	6.3	%
International Plans
Discount rate	1.3	%	1.1	%	2.4	%
Expected long-term rate of return on plan assets	2.1	%	1.3	%	2.7	%
Rate of compensation increase	1.2	%	2.7	%	1.4	%
CPI Inflation factor	0.1	%	0.3	%	0.3	%

The following table summarizes the weighted average actuarial assumptions used to determine net periodic benefit cost:

	For the Year Ended
	January 2, 2021		December 28, 2019		December 29, 2018
U.S. Plans
Discount rate	3.0	%	4.0	%	3.5	%
Expected long-term rate of return on plan assets	6.3	%	6.3	%	6.3	%
International Plans
Discount rate	1.3	%	1.1	%	2.4	%
Expected long-term rate of return on plan assets	2.1	%	1.3	%	2.7	%
Inflation factor	0.1	%	0.3	%	0.3	%

Schedule of Pension Plan Weighted-Average Asset Allocations by Asset Category

Our DB plans weighted-average asset allocations by asset category were as follows:

	January 2, 2021		December 28, 2019
U.S. Plans
Equity securities	48.2	%	46.3	%
Fixed income investments	51.8	%	53.7	%
International Plans
Equity securities	57.3	%	56.8	%
Fixed income investments	32.6	%	33.2	%
Real estate	10.1	%	10.0	%

Schedule of Benefit Payments Expected to be Paid

The following benefit payments are expected to be paid in the periods indicated below:

(in millions of U.S. dollars)	U.S.		International		Total
Expected benefit payments
FY 2021	$	0.5	$	1.1	$	1.6
FY 2022	0.5		0.7		1.2
FY 2023	0.5		0.5		1.0
FY 2024	0.5		0.7		1.2
FY 2025	0.5		0.6		1.1
FY 2026 through FY 2030	2.6		9.2		11.8

Schedule of Fair Values of Company's International Plan Assets

The fair values of the Company’s International Plan assets at January 2, 2021 and December 28, 2019 were as follows:

	January 2, 2021
(in millions of U.S. dollars)	Level 1		Level 2		Level 3
Mutual funds:
Non-U.S. equity securities	1.8		—		—
Fixed income:
Non-U.S. bonds	1.6		—		—
Insurance contract	—		2.0		—
Real estate:
Real estate	—		0.6		—
Total	$	3.4	$	2.6	$	—

	December 28, 2019
(in millions of U.S. dollars)	Level 1		Level 2		Level 3
Mutual funds:
Non-U.S. equity securities	1.6		—		—
Fixed income:
Non-U.S. bonds	1.7		—		—
Insurance contract	—		2.0		—
Real estate:
Real estate	—		0.6		—
Total	$	3.3	$	2.6	$	—