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Employee Benefit Plans (Tables)
12 Months Ended
Jun. 28, 2014
Employee Benefit Plans  
Schedule of net periodic cost for the pension and benefits plans

The following table presents the components of the net periodic cost for the pension and benefits plans (in millions):

 
  Pension Benefit Plans  
 
  2014   2013   2012  

Service cost

  $ 0.5   $ 0.3   $ 0.2  

Interest cost

    4.5     4.4     5.5  

Expected return on plan assets

    (1.4 )   (1.2 )   (1.4 )

Recognized actuarial losses (gains)

    0.1         (0.4 )
               

Net periodic benefit cost

  $ 3.7   $ 3.5   $ 3.9  
               
               
Schedule of changes in the benefit obligations and plan assets of the pension and benefits plans

The changes in the benefit obligations and plan assets of the pension and benefits plans were (in millions):

 
  Pension Benefit
Plans
 
 
  2014   2013  

Change in benefit obligation:

             

Benefit obligation at beginning of year

  $ 121.0   $ 111.9  

Service cost

    0.5     0.3  

Interest cost

    4.5     4.4  

Plan participants' contributions

    0.1      

Actuarial (gains)/losses

    10.9     6.2  

Acquisitions

    3.8      

Benefits paid

    (4.9 )   (4.9 )

Foreign exchange impact

    8.0     3.1  
           

Benefit obligation at end of year

  $ 143.9   $ 121.0  
           
           

Change in plan assets:

             

Fair value of plan assets at beginning of year

  $ 25.6   $ 23.5  

Actual return on plan assets

    2.0     2.7  

Acquisitions

    2.7      

Employer contributions

    5.1     4.8  

Plan participants' contributions

    0.1      

Benefits paid

    (4.9 )   (4.9 )

Foreign exchange impact

    2.9     (0.5 )
           

Fair value of plan assets at end of year

  $ 33.5   $ 25.6  
           
           

Funded status

  $ (110.4 ) $ (95.4 )
           
           

Accumulated benefit obligation

  $ 142.2   $ 120.2  
           
           


 

Schedule of defined benefit plan amounts recognized and locations in financial statements

 

 
  Pension Benefit
Plans
 
 
  2014   2013  

Amount recognized in the Consolidated Balance Sheets at end of year:

             

Current liabilities

  $ 4.2   $ 4.3  

Non-current liabilities

    106.2     91.1  
           

Net amount recognized at end of year

  $ 110.4   $ 95.4  
           
           

Amount recognized in Accumulated other comprehensive income at end of year:

             

Actuarial losses, net of tax

  $ (12.3 ) $ (4.7 )
           

Net amount recognized at end of year

  $ (12.3 ) $ (4.7 )
           
           

Other changes in plan assets and benefit obligations recognized in Other comprehensive (loss) income:

             

Net actuarial losses

  $ (7.7 ) $ (4.4 )

Amortization of accumulated net actuarial losses

    0.1      
           

Total recognized in other comprehensive income (loss)

  $ (7.6 ) $ (4.4 )
           
           
Schedule of assumptions used to determine net periodic cost and benefit obligation

The following table summarizes the weighted average assumptions used to determine net periodic cost and benefit obligation for the Company's U.K., Switzerland and German pension plans:

 
  Pension Benefit
Plans
 
 
  2014   2013   2012  

Weighted-average assumptions used to determine net periodic cost:

                   

Discount rate

    3.6 %   4.0 %   5.4 %

Expected long-term return on plan assets

    5.2     5.2     6.0  

Rate of pension increase

    2.2     2.0     1.8  

Weighted-average assumptions used to determine benefit obligation at end of year:

   
 
   
 
   
 
 

Discount rate

    2.9 %   3.7 %   4.0 %

Rate of pension increase

    2.1     2.2     2.0  
Schedule of percentage of asset allocations and plan's assets at fair value

The following table sets forth the U.K. and Swiss plans' assets at fair value and the percentage of assets allocations as of June 28, 2014 (in millions, except percentage data). The fair value of U.K. and Swiss pension assets was approximately $30.5 million and $3.0 million, respectively, as of June 28, 2014.

 
   
   
   
  Fair value measurement as of
June 28, 2014
 
 
  Target Allocation   Total   Percentage of
Plan Assets
  Quoted Prices in
Active Markets
for Identical Assets
(Level 1)
  Significant Other
Observable
Inputs
(Level 2)
 

Assets:

                             

Global equity

  39%   $ 13.0     38.8 % $   $ 13.0  

Fixed income

  40         13.3     39.7         13.3  

Other

  21         7.0     20.9         7.0  

Cash

        0.2     0.6     0.2      
                       

Total assets

      $ 33.5     100.0 % $ 0.2   $ 33.3  
                       
                       

        The following table sets forth the plan's assets at fair value and the percentage of assets allocations as of June 29, 2013 (in millions, except percentage data).

 
   
   
   
  Fair value measurement as of
June 29, 2013
 
 
  Target Allocation   Total   Percentage of
Plan Assets
  Quoted Prices in
Active markets
for Identical Assets
(Level 1)
  Significant Other
Observable
Inputs
(Level 2)
 

Assets:

                             

Global equity

  36 - 44%   $ 10.7     42.0 % $   $ 10.7  

Fixed income

  45 - 55         12.1     47.0         12.1  

Other

    8 - 12         2.7     11.0         2.7  

Cash

        0.1         0.1      
                       

Total assets

      $ 25.6     100.0 % $ 0.1   $ 25.5  
                       
                       
Schedule of total expected benefit payments to defined benefit pension plan participants

The following table reflects the total expected benefit payments to defined benefit pension plan participants. These payments have been estimated based on the same assumptions used to measure the Company's PBO at year end and include benefits attributable to estimated future compensation increases.

(in millions)
  Pension
Benefit Plans
 

2015

  $ 5.2  

2016

    6.0  

2017

    6.8  

2018

    7.1  

2019

    7.1  

2020 - 2024

    37.8  

Thereafter

    40.4  
       

Total

  $ 110.4