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Benefit Plans (Tables)
12 Months Ended
Dec. 29, 2012
Summary of Change in Benefit Obligations, Change in Plan Assets and Unfunded Status of Two Plans

The following table summarizes the change in the benefit obligation, change in plan assets and unfunded status of the two plans as of December 29, 2012 and December 31, 2011:

 

     December 29,     December 31,  

(in millions of U.S. dollars)

   2012     2011  

Change in Benefit Obligation

    

Benefit obligation at beginning of year

   $ 39.3      $ 34.5   

Service cost

     0.5        0.5   

Interest cost

     1.9        1.8   

Plan participant contributions

     0.1        0.1   

Benefit payments

     (0.9     (0.9

Actuarial (gains) losses

     (0.6     3.4   

Translation (gains) losses

     1.5        (0.1
  

 

 

   

 

 

 

Benefit obligation at end of year

   $ 41.8      $ 39.3   
  

 

 

   

 

 

 

Change in Plan Assets

    

Plan assets beginning of year

   $ 27.5      $ 26.4   

Employer contributions

     2.0        1.8   

Plan participant contributions

     0.1        0.1   

Benefit payments

     (0.9     (0.9

Actual return on plan assets

     3.5        0.2   

Translation (gains) losses

     1.0        (0.1
  

 

 

   

 

 

 

Fair value at end of year

   $ 33.2      $ 27.5   
  

 

 

   

 

 

 

Funded Status of Plan

    

Projected benefit obligation

   $ (41.8   $ (39.3

Fair value of plan assets

     33.2        27.5   
  

 

 

   

 

 

 

Unfunded status

   $ (8.6   $ (11.8
  

 

 

   

 

 

 
Schedule of Components of Net Periodic Pension Cost

The components of net periodic pension cost were as follows:

 

     For the Years Ended  
     December 29,     December 31,     January 1,  

(in millions of U.S. dollars)

   2012     2011     2011  

Service cost

   $ 0.5      $ 0.5      $ 0.4   

Interest cost

     1.9        1.9        1.8   

Expected return on plan assets

     (1.7     (1.9     (1.7

Amortization of prior service costs

     0.1        0.1        0.1   

Amortization of net loss

     1.0        0.5        0.5   
  

 

 

   

 

 

   

 

 

 

Net periodic pension cost

   $ 1.8      $ 1.1      $ 1.1   
  

 

 

   

 

 

   

 

 

 
Schedule of Amounts Included in Accumulated Other Comprehensive Income, Net of Tax Which Have Not Yet Been Recognized in Net Periodic Benefit Cost

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

 

     For the Year Ended  
     December 29,     December 31,     January 1,  

(in millions of U.S. dollars)

   2012     2011     2011  

Unamortized prior service cost

   $ (0.3   $ (0.4   $ (0.5

Unrecognized net actuarial gain

     5.3        8.5        5.8   
  

 

 

   

 

 

   

 

 

 

Unamortized prior service benefit

   $ 5.0      $ 8.1      $ 5.3   
  

 

 

   

 

 

   

 

 

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

Our pension plan weighted-average asset allocations by asset category were as follows:

 

     December 29,
2012
    December 31,
2011
 

U.K. Plan

    

Equity securities

     59.0     58.3

Debt securities

     40.6     41.7

Cash

     0.4     0.0

U.S. Plan

    

Equity securities

     65.2     66.9

Debt securities

     32.4     33.1

Cash

     2.3     0.0
Schedule of Benefit Payments Expected to Be Paid

The following benefit payments are expected to be paid:

 

(in millions of U.S. dollars)

      

Expected benefit payments

  

FY 2013

   $ 1.3   

FY 2014

     1.2   

FY 2015

     1.2   

FY 2016

     1.3   

FY 2017

     1.6   

FY 2018 through FY 2021

     9.1   
Schedule of Fair Values of Company's Pension Plan Assets

The fair values of the Company’s pension plan assets at December 29, 2012 were as follows:

 

(in millions of U.S. dollars)

   December 29, 2012  
     Level 1      Level 2      Level 3  

Cash and cash equivalents:

        

Cash and cash equivalents

   $ 0.1       $ 0.2       $ —     

Equities:

        

International mutual funds

     12.6         —           —     

Index mutual funds

     5.6         —           —     

U.S. mutual funds

     0.9         —           —     

Balanced

     0.4         —           —     

Other

     0.3         —           —     

Fixed income:

        

Mutual funds

     12.9         —           —     

Insurance contract

     —           0.2         —     
  

 

 

    

 

 

    

 

 

 

Total

   $ 32.8       $ 0.4       $ —     
  

 

 

    

 

 

    

 

 

 

The fair values of the Company’s pension plan assets at December 31, 2011 were as follows:

 

(in millions of U.S. dollars)

   December 31, 2011  
     Level 1      Level 2      Level 3  

Cash and cash equivalents:

        

Cash and cash equivalents

   $ 0.1       $ 0.1       $ —     

Equities:

        

International mutual funds

     14.8         —           —     

Index mutual funds

     3.1         —           —     

U.S. mutual funds

     1.5         —           —     

Fixed income:

        

Mutual funds

     7.9         —           —     
  

 

 

    

 

 

    

 

 

 

Total

   $ 27.4       $ 0.1       $ —     
  

 

 

    

 

 

    

 

 

 
Benefit Obligations [Member]
 
Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Cost

Assumptions used to determine benefit obligations at year-end:

 

     December 29,     December 31,     January 1,  
     2012     2011     2011  

Discount rate

     4.5     4.5     5.4
Net Periodic Benefit Cost [Member]
 
Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Cost

Assumptions used to determine net periodic benefit cost at year-end:

 

     December 29,     December 31,     January 1,  
     2012     2011     2011  

U.K. Plan

      

Discount rate

     4.6     5.4     5.8

Expected long-term rate of return on plan assets

     5.7     6.9     7.2

Inflation factor

     3.3     3.7     3.7

U.S. Plan

      

Discount rate

     3.5     4.1     5.7

Expected long-term rate of return on plan assets

     7.0     7.0     7.0