XML 49 R33.htm IDEA: XBRL DOCUMENT v3.7.0.1
Post-Retirement Benefits (Tables)
 12 Months Ended
Jul. 01, 2017
Retirement Benefits [Abstract]  
Reconciliation of Actuarial Present Value of Projected Benefit Obligations
The reconciliation of the actuarial present value of the projected benefit obligations for the defined benefit plan for the fiscal year ended July 1, 2017 and July 2, 2016 was as follows:
 
July 1, 2017
 
July 2, 2016
 
(Thousands)
Change in projected benefit obligation:
 
 
 
Projected benefit obligation, beginning of period
$
6,912

 
$
4,817

Service cost
624

 
560

Interest cost
4

 
48

Benefits paid
(197
)
 
(144
)
Actuarial (gain) loss on obligation
(213
)
 
614

Currency translation adjustment
(578
)
 
1,017

Projected benefit obligation, end of period
$
6,552

 
$
6,912

Amounts recognized in consolidated balance sheets:
 
 
 
Accrued expenses and other liabilities:
 
 
 
Underfunded pension liability
$
117

 
$
50

Other non-current liabilities:
 
 
 
Underfunded pension liability
$
6,435

 
$
6,862

Amounts recognized in accumulated other comprehensive income, net of tax:
 
 
 
Pension actuarial loss
$
150

 
$
363

Accumulated benefit obligation, end of period
$
6,552

 
$
6,912
Net Periodic Pension Costs
Net periodic pension cost associated with the Japan Plan in fiscal years ended July 1, 2017, July 2, 2016 and June 27, 2015 include the following components:
 
July 1, 2017
 
July 2, 2016
 
June 27, 2015
 
(Thousands)
Service cost
$
624

 
$
560

 
$
693

Interest cost
4

 
48

 
69

Net amortization
—

 
—

 
35

Net periodic pension cost
$
628

 
$
608

 
$
797
Projected and Accumulated Benefit Obligations
The projected and accumulated benefit obligations for the Japan Plan were calculated as July 1, 2017 and July 2, 2016 using the following assumptions:
 
July 1, 2017
 
July 2, 2016
Discount rate
0.1
%
 
0.9
%
Salary increase rate
2.2
%
 
2.2
%
Expected average remaining working life (in years)
14.3

 
14.3