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Retirement Plans (Tables)

12 Months Ended

Dec. 30, 2023

Schedule 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 U.S. Plan as of December 30, 2023 and December 31, 2022:


(in millions of U.S. dollars)	December 30, 2023		December 31, 2022
Change in Projected Benefit Obligation
Projected benefit obligation at beginning of year	$	7.3	$	9.4


Interest cost	0.2		0.1

Benefit payments	(7.4)		(0.6)
Actuarial gains	—		(1.6)
Settlement gains	(0.1)		—


Projected benefit obligation at end of year	$	—	$	7.3
Change in Plan Assets
Plan assets beginning of year	$	7.1	$	9.2

Employer contributions	0.3		—

Benefit payments	(7.4)		(0.6)



Actual return on plan assets	—		(1.5)

Fair value at end of year	$	—	$	7.1
Funded Status of Plan
Projected benefit obligation	$	—	$	(7.3)
Fair value of plan assets	—		7.1
Unfunded status	$	—	$	(0.2)

Schedule of Components of Net Periodic Pension Cost

The components of net periodic pension cost were as follows:


(in millions of U.S. dollars)	December 30, 2023		December 31, 2022		January 1, 2022

Interest cost	$	0.2	$	0.1	$	0.2
Expected return on plan assets	(0.1)		(0.1)		(0.2)

Recognized net loss due to settlement	0.5		—		—



Net periodic pension cost	$	0.6	$	—	$	—

Schedule of Net Periodic Benefit Cost Not yet Recognized

Amounts included in accumulated other comprehensive (loss) income, net of tax, as of the periods presented which have not yet been recognized in net periodic benefit cost were as follows:


(in millions of U.S. dollars)	December 30, 2023		December 31, 2022		January 1, 2022
Unrecognized net actuarial loss	$	—	$	(0.6)	$	(0.6)
Total accumulated other comprehensive loss	$	—	$	(0.6)	$	(0.6)

Schedule of 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 Fiscal Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
U.S. Plans
Discount rate	—	%	4.9	%	2.5	%
Expected long-term rate of return on plan assets	—	%	1.0	%	2.0	%

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


	For the Fiscal Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
U.S. Plans
Discount rate	5.1	%	1.0	%	2.0	%
Expected long-term rate of return on plan assets	1.0	%	1.0	%	2.0	%