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Retirement Plans (Tables)
 12 Months Ended
Dec. 30, 2017
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 December 30, 2017 and December 31, 2016:

 

     December 30, 2017  

(in millions of U.S. dollars)

    U.S.      International      Total  

Change in Projected Benefit Obligation

         

Projected benefit obligation at beginning of year

    $ 8.3      $ 30.5      $ 38.8  

Business combinations

      —          —          —    

Service cost

      —          1.9        1.9  

Interest cost

      0.3        0.3        0.6  

Benefit payments

      (0.4 )       (3.0 )       (3.4 ) 

Actuarial losses

      0.2        (0.1 )       0.1  

Settlement gains

      —          —          —    

Curtailment gains

      —          (18.2 )       (18.2 ) 

Translation gains

      —          1.4        1.4  
  

 

 

     

 

 

     

 

 

  

Projected benefit obligation at end of year

    $ 8.4      $ 12.8      $ 21.2  
  

 

 

     

 

 

     

 

 

  

Change in Plan Assets

         

Plan assets beginning of year

    $ 6.3      $ 20.4      $ 26.7  

Business combinations

      —          —          —    

Employer contributions

      0.3        0.9        1.2  

Plan participant contributions

      —          0.4        0.4  

Benefit payments

      (0.4 )       (2.5 )       (2.9 ) 

Curtailment losses

      —          (14.2 )       (14.2 ) 

Actual return on plan assets

      0.9        0.6        1.5  

Translation losses

      —          1.0        1.0  
  

 

 

     

 

 

     

 

 

  

Fair value at end of year

    $ 7.1      $ 6.6      $ 13.7  
  

 

 

     

 

 

     

 

 

  

Funded Status of Plan

         

Projected benefit obligation

    $ (8.4 )     $ (12.8 )     $ (21.2 ) 

Fair value of plan assets

      7.1        6.6        13.7  
  

 

 

     

 

 

     

 

 

  

Unfunded status

    $ (1.3 )     $ (6.2 )     $ (7.5 ) 
  

 

 

     

 

 

     

 

 

  

 

     December 31, 2016  

(in millions of U.S. dollars)

    U.S.      International      Total  

Change in Projected Benefit Obligation

         

Projected benefit obligation at beginning of year

    $ 10.3      $ —        $ 10.3  

Business combinations

      —          29.3        29.3  

Service cost

      —          2.1        2.1  

Interest cost

      0.4        0.3        0.7  

Benefit payments

      (2.3 )       (0.5 )       (2.8 ) 

Actuarial losses

      —          0.4        0.4  

Settlement gains

      (0.1 )       —          (0.1 ) 

Translation gains

      —          (1.1 )       (1.1 ) 
  

 

 

     

 

 

     

 

 

  

Projected benefit obligation at end of year

    $ 8.3      $ 30.5      $ 38.8  
  

 

 

     

 

 

     

 

 

  

Change in Plan Assets

         

Plan assets beginning of year

    $ 7.7      $ —        $ 7.7  

Business combinations

      —          19.5        19.5  

Employer contributions

      0.4        0.6        1.0  

Plan participant contributions

      —          0.2        0.2  

Benefit payments

      (2.3 )       (0.2 )       (2.5 ) 

Actual return on plan assets

      0.4        0.9        1.3  

Translation losses

      —          (0.6 )       (0.6 ) 
  

 

 

     

 

 

     

 

 

  

Fair value at end of year

    $ 6.2      $ 20.4      $ 26.6  
  

 

 

     

 

 

     

 

 

  

Funded Status of Plan

         

Projected benefit obligation

    $ (8.3 )     $ (30.5 )     $ (38.8 ) 

Fair value of plan assets

      6.2        20.4        26.6  
  

 

 

     

 

 

     

 

 

  

Unfunded status

    $ (2.1 )     $ (10.1 )     $ (12.2 ) 
  

 

 

     

 

 

     

 

 

  
Schedule of Components of Net Periodic Pension Cost

The components of net periodic pension cost were as follows:

 

     December 30, 2017  

(in millions of U.S. dollars)

    U.S.      International      Total  

Service cost

    $ —        $ 1.9      $ 1.9  

Interest cost

      (0.3 )       0.3        —    

Expected return on plan assets

      0.4        (0.3 )       0.1  

Amortization of prior service costs

      —          —          —    

Recognized net loss due to settlement

      —          —          —    

Amortization of net actuarial loss

      —          —          —    

Curtailment gain

      —          (4.5 )       (4.5 ) 

Employees contribution

      —          (0.4 )       (0.4 ) 
  

 

 

     

 

 

     

 

 

  

Net periodic pension cost

    $ 0.1      $ (3.0 )     $ (2.9 ) 
  

 

 

     

 

 

     

 

 

  

 

     December 31, 2016  

(in millions of U.S. dollars)

    U.S.      International      Total  

Service cost

    $ —        $ 2.1      $ 2.1  

Interest cost

      (0.4 )       0.2        (0.2 ) 

Expected return on plan assets

      0.6        (0.2 )       0.4  

Amortization of prior service costs

      —          —          —    

Recognized net loss due to settlement

      (0.1 )       —          (0.1 ) 

Amortization of net actuarial loss

      —          —          —    

Employees contribution

      —          (0.2 )       (0.2 ) 
  

 

 

     

 

 

     

 

 

  

Net periodic pension cost

    $ 0.1      $ 1.9      $ 2.0  
  

 

 

     

 

 

     

 

 

  

 

     January 2, 2016  

(in millions of U.S. dollars)

    U.S.      International      Total  

Interest cost

      0.4        —          0.4  

Expected return on plan assets

      (0.5 )       —          (0.5 ) 
  

 

 

     

 

 

     

 

 

  

Net periodic pension cost

    $ (0.1 )     $ —        $ (0.1 ) 
  

 

 

     

 

 

     

 

 

  
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, net of tax, at year-end which have not yet been recognized in net periodic benefit cost were as follows:

 

     December 30, 2017  

(in millions of U.S. dollars)

    U.S.      International      Total  

Unrecognized net actuarial loss

      (0.6 )       (16.2 )       (16.8 ) 
  

 

 

     

 

 

     

 

 

  

Total accumulated other comprehensive loss

    $ (0.6 )     $ (16.2 )     $ (16.8 ) 
  

 

 

     

 

 

     

 

 

  
     December 31, 2016  

(in millions of U.S. dollars)

    U.S.      International      Total  

Unrecognized net actuarial loss

      (1.2 )       (13.2 )       (14.4 ) 
  

 

 

     

 

 

     

 

 

  

Total accumulated other comprehensive loss

    $ (1.2 )     $ (13.2 )     $ (14.4 ) 
  

 

 

     

 

 

     

 

 

  
     January 2, 2016  

(in millions of U.S. dollars)

    U.S.      International      Total  

Unamortized prior service cost

    $ (0.1 )     $ —        $ (0.1 ) 

Unrecognized net actuarial loss

      (1.4 )       (8.6 )       (10.0 ) 
  

 

 

     

 

 

     

 

 

  

Total accumulated other comprehensive loss

    $ (1.5 )     $ (8.6 )     $ (10.1 ) 
  

 

 

     

 

 

     

 

 

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

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

 

     December 30,
2017		     December 31,
2016		  

U.S. Plans

     

Equity securities

      61.4 %      60.7 % 

Fixed income investments

      38.6 %      39.3 % 

International Plans

     

Cash and cash equivalents

      0.3 %      2.4 % 

Equity securities

      64.2 %      76.1 % 

Fixed income investments

      29.2 %      8.8 % 

Real estate

      6.3 %      12.7 % 
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 2018

    $ 0.4      $ 1.1      $ 1.5  

FY 2019

      0.4        0.7        1.1  

FY 2020

      0.4        0.6        1.0  

FY 2021

      0.5        0.5        1.0  

FY 2022

      0.5        0.4        0.9  

FY 2023 through FY 2027

      2.5        1.8        4.3  
Schedule of Fair Values of Company's International Plan Assets

The fair values of the Company’s International plan assets at December 30, 2017 and December 31, 2016 were as follows:

 

     December 30, 2017  

(in millions of U.S. dollars)

    Level 1      Level 2      Level 3  

Mutual funds:

         

Non-U.S. equity securities

      1.6        —          —    

Other

      —          0.4        —    

Fixed income:

         

Non-U.S. bonds

      2.3        —          —    

Insurance contract

      —          1.9        —    

Real estate:

         

Real estate

      —          0.4        —    
  

 

 

     

 

 

     

 

 

  

Total

    $ 3.9      $ 2.7      $ —    
  

 

 

     

 

 

     

 

 

  

 

     December 31, 2016  

(in millions of U.S. dollars)

    Level 1      Level 2      Level 3  

Cash and cash equivalents:

         

Cash and cash equivalents

    $ 0.5      $ —        $ —    

Mutual funds:

         

Non-U.S. equity securities

      2.5        —          —    

Other

      —          1.3        —    

Fixed income:

         

Non-U.S. bonds

      11.7        —       

Insurance contract

      —          1.8        —    

Real estate:

         

Real estate

      —          2.6     
  

 

 

     

 

 

     

 

 

  

Total

    $ 14.7      $ 5.7      $ —    
  

 

 

     

 

 

     

 

 

  
Benefit Obligations [Member]  
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  
     December 30,
2017		     December 31,
2016		     January 2,
2016		  

U.S. Plans

       

Discount rate

      3.5 %      3.8 %      4.0 % 

Expected long-term rate of return on plan assets

      7.0 %      7.0 %      7.3 % 

International Plans

       

Discount rate

      2.0 %      1.7 %      —   % 

Expected long-term rate of return on plan assets

      3.1 %      2.6 %      —   % 

Rate of compensation increase

      1.4 %      1.0 %      —   % 

CPI Inflation factor

      0.3 %      0.3 %      —   % 
Net Periodic Benefit Cost [Member]  
Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Cost

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

 

     For the Year Ended  
     December 30, 2017     December 31, 2016     January 2, 2016  

U.S. Plans

       

Discount rate

      3.8 %      4.0 %      4.1 % 

Expected long-term rate of return on plan assets

      7.0 %      7.0 %      7.3 % 

International Plans

       

Discount rate

      2.0 %      1.7 %      —   % 

Expected long-term rate of return on plan assets

      3.1 %      1.0 %      —   % 

Inflation factor

      0.3 %      0.3 %      —   %