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DEFINED BENEFIT RETIREMENT PLAN (Tables)
12 Months Ended
Dec. 28, 2013
DEFINED BENEFIT RETIREMENT PLAN  
Schedule of changes in PBO and fair value of plan assets for pension plan

Changes in the PBO and fair value of plan assets for the pension plan for the period from December 31, 2011 to December 29, 2012 were as follows:

 
  Projected
Benefit
Obligation
  Plan
Assets
  Funded
status
 

Fair value at December 31, 2011

  $ 492,519   $ 424,495   $ (68,024 )

Employer contributions

        11,591        

Interest cost

    23,445            

Actual return on plan assets

        41,345        

Benefits paid

    (11,722 )   (11,722 )      

Actuarial loss

    69,859            

Currency translation

    23,666     20,015        
               

Fair Value at December 29, 2012

  $ 597,767   $ 485,724   $ (112,043 )
               
               

        Changes in the PBO and fair value of plan assets for the pension plan for the period from December 29, 2012 to December 28, 2013 were as follows:

 
  Projected
Benefit
Obligation
  Plan
Assets
  Funded
status
 

Fair Value at December 29, 2012

  $ 597,767   $ 485,724   $ (112,043 )

Employer contributions

        17,619        

Interest cost

    26,431            

Actual return on plan assets

        7,676        

Settlements

    (12,981 )   (12,981 )      

Benefits paid

    (11,573 )   (11,573 )      

Actuarial loss

    37,235            

Currency translation

    14,978     10,995        
               

Fair Value at December 28, 2013

  $ 651,857   $ 497,460   $ (154,397 )
               
               
Schedule of pre-tax amounts recognized in accumulated other comprehensive income (loss)

Balance December 31, 2011

  $ 60,014  

Actuarial loss

    (48,524 )

Currency translation gain

    1,127  
       

Balance December 29, 2012

    12,617  

Actuarial loss

    (49,421 )

Currency translation loss

    (2,004 )
       

Balance December 28, 2013

  $ (38,808 )
       
       
Schedule of weighted-average actuarial assumptions used to determine the benefit obligation
Percentages
  2013   2012  

Discount rate

    4.45 %   4.60 %

Salary increase

    N/A     N/A  

CPI Inflation

    2.70 %   2.70 %

RPI Inflation

    3.60 %   3.20 %
Schedule of components of the net periodic pension expense
  2013   2012  

Net Periodic Benefit Cost:

             

Interest cost

    26,431     23,445  

Expected return on plan assets

    (19,862 )   (19,168 )
           

Net periodic benefit expense

  $ 6,569   $ 4,277  
           
           
Schedule of weighted-average actuarial assumptions used to determine expense
Percentages
  2013   2012  

Discount rate

    4.60 %   4.80 %

Expected return on plan assets

    4.20 %   4.40 %

RPI Inflation

    3.20 %   3.20 %

CPI Inflation

    2.70 %   2.30 %
Schedule of expected pension benefit payments

2014

  $ 12,681  

2015

    13,175  

2016

    13,669  

2017

    14,163  

Years 2018 - 2022

    76,087  
Schedule of pension plan assets measured at fair value on a recurring basis
December 28, 2013
  Quoted Prices in
Active Markets
for Identical
Inputs (Level 1)
  Significant Other
Observable
Inputs
(Level 2)
  Significant
Unobservable
Inputs
(Level 3)
  Total  

Plan net assets:

                         

Temporary cash investments

  $   $ 10,791   $   $ 10,791  

Index-linked gilts

        112,208         112,208  

Corporate bonds

        166,604         166,604  

Corporate stock

        141,029         141,029  

Diversified growth funds

        66,828         66,828  
                   

Total plan net assets at fair value

  $   $ 497,460   $   $ 497,460  
                   
                   


 

December 29, 2012
  Quoted Prices in
Active Markets
for Identical
Inputs (Level 1)
  Significant Other
Observable
Inputs
(Level 2)
  Significant
Unobservable
Inputs
(Level 3)
  Total  

Plan net assets:

                         

Temporary cash investments

  $   $ 12,091   $   $ 12,091  

Index-linked gilts

        107,366         107,366  

Corporate bonds

        347,083         347,083  

Corporate stock

        19,184         19,184  

Other investments

                 
                   

Total plan net assets at fair value

  $   $ 485,724   $   $ 485,724