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Benefit Plans (Tables)
 12 Months Ended
Dec. 30, 2017
Compensation and Retirement Disclosure [Abstract]  
Reconciliation of the changes in the plans' benefit obligations and the fair value of the plans assets
The following tables provide a reconciliation of the changes in the plans’ benefit obligations and the fair value of the plans’ assets for 2017 and 2016, and a statement of the plans’ aggregate funded status:

 
 
Pension Benefits
 
Other Benefits
(In thousands)
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
 
Change in benefit obligation:
 
 
 
 
 
 
 
 
Obligation at beginning of year
 
$
178,736

 
$
192,761

 
$
15,274

 
$
15,843

Service cost
 
128

 
532

 
235

 
232

Interest cost
 
6,344

 
7,553

 
599

 
594

Actuarial loss (gain)
 
4,688

 
9,399

 
923

 
(249
)
Plan amendments
 
—

 
—

 
—

 
43

Benefit payments
 
(10,171
)
 
(17,572
)
 
(883
)
 
(1,023
)
Settlement charge
 
—

 
—

 
(209
)
 
—

Foreign currency translation adjustment
 
7,041

 
(13,937
)
 
468

 
(166
)
 
 
 
 
 
 
 
 
 
Obligation at end of year
 
186,766

 
178,736

 
16,407

 
15,274

 
 
 
 
 
 
 
 
 
Change in fair value of plan assets:
 
 

 
 

 
 

 
 

Fair value of plan assets at beginning of year
 
169,140

 
176,077

 
—

 
—

Actual return on plan assets
 
19,175

 
19,319

 
—

 
—

Employer contributions
 
2,271

 
2,377

 
883

 
1,023

Benefit payments
 
(10,171
)
 
(17,572
)
 
(883
)
 
(1,023
)
Foreign currency translation adjustment
 
5,921

 
(11,061
)
 
—

 
—

 
 
 
 
 
 
 
 
 
Fair value of plan assets at end of year
 
186,336

 
169,140

 
—

 
—

 
 
 
 
 
 
 
 
 
Underfunded status at end of year
 
$
(430
)
 
$
(9,596
)
 
$
(16,407
)
 
$
(15,274
)
Amounts recognized in accumulated OCI (before the effect of income taxes)
The following represents amounts recognized in AOCI (before the effect of income taxes):

 
 
Pension Benefits
 
Other Benefits
(In thousands)
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
 
Unrecognized net actuarial loss
 
$
34,627

 
$
39,986

 
$
1,540

 
$
614

Unrecognized prior service credit
 
—

 
—

 
(7,289
)
 
(8,180
)
Funded status of the plans recognized
As of December 30, 2017 and December 31, 2016, the total funded status of the plans recognized in the Consolidated Balance Sheets was as follows:

 
 
Pension Benefits
 
Other Benefits
  (In thousands)
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
 
Long-term asset
 
$
9,894

 
$
4,442

 
$
—

 
$
—

Current liability
 
—

 
—

 
(1,070
)
 
(1,128
)
Long-term liability
 
(10,324
)
 
(14,038
)
 
(15,337
)
 
(14,146
)
 
 
 
 
 
 
 
 
 
Total underfunded status
 
$
(430
)
 
$
(9,596
)
 
$
(16,407
)
 
$
(15,274
)
Components of net periodic benefit costs
The components of net periodic benefit cost are as follows:

(In thousands)
 
2017
 
2016
 
2015
Pension benefits:
 
 
 
 
 
 
Service cost
 
$
128

 
$
532

 
$
803

Interest cost
 
6,344

 
7,553

 
8,032

Expected return on plan assets
 
(9,374
)
 
(9,615
)
 
(10,289
)
Amortization of net loss
 
2,206

 
2,898

 
2,710

Settlement charge
 
—

 
1,214

 
—

 
 
 
 
 
 
 
Net periodic benefit (income) cost
 
$
(696
)
 
$
2,582

 
$
1,256

 
 
 
 
 
 
 
Other benefits:
 
 

 
 

 
 

Service cost
 
$
235

 
$
232

 
$
363

Interest cost
 
599

 
594

 
1,005

Amortization of prior service (credit) cost
 
(901
)
 
(896
)
 
6

Amortization of net gain
 
(42
)
 
(60
)
 
(28
)
Settlement charge
 
17

 
—

 
—

 
 
 
 
 
 
 
Net periodic benefit (income) cost
 
$
(92
)
 
$
(130
)
 
$
1,346
Weighted average assumptions used in the measurement of the Company's benefit obligation and net periodic benefit cost are as follows
The weighted average assumptions used in the measurement of the Company’s benefit obligations are as follows:

 
 
Pension Benefits
 
Other Benefits
 
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
 
Discount rate
 
3.22
%
 
3.61
%
 
3.89
%
 
4.21
%
Expected long-term return on plan assets
 
5.27
%
 
5.56
%
 
N/A

 
N/A

Rate of compensation increases
 
N/A

 
N/A

 
5.00
%
 
5.00
%
Rate of inflation
 
3.30
%
 
3.30
%
 
N/A

 
N/A


The weighted average assumptions used in the measurement of the Company’s net periodic benefit cost are as follows:

 
 
Pension Benefits
 
Other Benefits
 
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
 
 
 
 
 
 
 
 
 
 
 
 
 
Discount rate
 
3.61
%
 
4.02
%
 
4.03
%
 
4.21
%
 
4.25
%
 
4.33
%
Expected long-term return on plan assets
 
5.56
%
 
5.59
%
 
5.58
%
 
N/A

 
N/A

 
N/A

Rate of compensation increases
 
N/A

 
N/A

 
N/A

 
5.00
%
 
5.00
%
 
5.00
%
Rate of inflation
 
3.30
%
 
3.20
%
 
3.10
%
 
N/A

 
N/A

 
N/A
Weighted average asset allocation of the Company’s pension fund assets are as follows
The weighted average asset allocation of the Company’s pension fund assets are as follows:

 
 
Pension Plan Assets
Asset category
 
2017
 
2016
 
 
 
 
 
Equity securities (includes equity mutual funds)
 
46
%
 
47
%
Fixed income securities (includes fixed income mutual funds)
 
48

 
48

Cash and equivalents (includes money market funds)
 
3

 
3

Alternative investments
 
3

 
2

 
 
 
 
 
Total
 
100
%
 
100
%
Plan assets at fair value within the fair value hierarchy, by level
The following table sets forth by level, within the fair value hierarchy, the assets of the plans at fair value:

 
 
Fair Value Measurements at December 30, 2017
  (In thousands)
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
 
Cash and money market funds
 
$
5,364

 
$
—

 
$
—

 
$
5,364

Common stock (1)
 
11,113

 
—

 
—

 
11,113

Mutual funds (2)
 
8,412

 
156,442

 
—

 
164,854

Limited partnerships
 
—

 
—

 
5,005

 
5,005

 
 
 
 
 
 
 
 
 
Total
 
$
24,889

 
$
156,442

 
$
5,005

 
$
186,336

 
 
 
Fair Value Measurements at December 31, 2016
  (In thousands)
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
 
Cash and money market funds
 
$
4,245

 
$
—

 
$
—

 
$
4,245

Common stock (3)
 
18,601

 
—

 
—

 
18,601

Mutual funds (4)
 
5,572

 
136,027

 
—

 
141,599

Limited partnerships
 
—

 
—

 
4,695

 
4,695

 
 
 
 
 
 
 
 
 
Total
 
$
28,418

 
$
136,027

 
$
4,695

 
$
169,140


(1) 
Approximately 91 percent of common stock represents investments in U.S. companies primarily in the health care, utilities, financials, consumer staples, industrials, and information technology sectors.  All investments in common stock are listed on U.S. stock exchanges.

(2) 
Approximately 66 percent of mutual funds are actively managed funds and approximately 34 percent of mutual funds are index funds.  Additionally, five percent of the mutual funds’ assets are invested in U.S. equities, 41 percent in non-U.S. equities, 52 percent in U.S. fixed income securities, and two percent in non-U.S. fixed income securities.

(3) 
Approximately 90 percent of common stock represents investments in U.S. companies primarily in the health care, utilities, financials, consumer staples, industrials, and information technology sectors.  All investments in common stock are listed on U.S. stock exchanges.

(4) 
Approximately 68 percent of mutual funds are actively managed funds and approximately 32 percent of mutual funds are index funds.  Additionally, five percent of the mutual funds’ assets are invested in U.S. equities, 38 percent in non-U.S. equities, 54 percent in U.S. fixed income securities, and three percent in non-U.S. fixed income securities.
Plan assets measured at fair value using significant unobservable inputs
The table below reflects the changes in the assets of the plan measured at fair value on a recurring basis using significant unobservable inputs (level 3 of fair value hierarchy) during the year ended December 30, 2017:

  (In thousands)
 
Limited Partnerships
 
 
 
Balance, December 31, 2016
 
$
4,695

Redemptions
 
(283
)
Subscriptions
 
273

Net appreciation in fair value
 
320

 
 
 

Balance, December 30, 2017
 
$
5,005
Future benefit plans payments
The Company expects future benefits to be paid from the plans as follows:

(In thousands)
 
Pension Benefits
 
Other Benefits
 
 
 
 
 
2018
 
$
10,423

 
$
1,177

2019
 
10,398

 
1,056

2020
 
10,329

 
1,277

2021
 
10,246

 
1,129

2022
 
10,182

 
1,157

2023-2027
 
49,965

 
6,154

 
 
 
 
 
Total
 
$
101,543

 
$
11,950