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Retirement Plans (Tables)

12 Months Ended

Jan. 01, 2022

Components of Net Periodic Pension and Other Postretirement Benefit Costs

The components of net periodic pension benefit costs (credits) for the Retirement Plan the last three fiscal years were as follows:


	2021		2020		2019
Components of net periodic pension benefit (credits) costs:
Service cost	$	3	$	3	$	2
Interest cost	29		32		37
Expected return on plan assets	(54)		(55)		(49)
Amortization of net loss	—		1		4
Settlements	—		—		12
Net periodic pension benefit (credits) costs	$	(22)	$	(19)	$	6

Changes in Plan Assets and Benefit Obligations

Changes in plan assets and benefit obligations recorded in accumulated other comprehensive loss for pension benefits for the last three fiscal years were as follows:


	2021		2020		2019
Changes recognized in accumulated other comprehensive loss:
Actuarial gain	$	14	$	29	$	44
Amortization of net loss	—		1		4
Settlements	—		—		12
Net amount recognized	$	14	$	30	$	60

Funded Status of the Defined Benefit Plans

The funded status of the Retirement Plan for the last three fiscal years was as follows:


	Pension Benefits
	2021		2020		2019
Change in benefit obligation:
Benefit obligation as of beginning of year	$	1,061	$	903	$	871
Service cost	3		3		2
Interest cost	29		32		37
Actuarial (gain) loss	(30)		98		100
Settlements	—		—		(84)
Benefit disbursements	(47)		(45)		(23)
Smart Foodservice assumed benefit obligations	—		70		—
Benefit obligation as of end of year	1,016		1,061		903
Change in plan assets:
Fair value of plan assets as of beginning of year	1,112		923		836
Return on plan assets	38		183		193
Employer contribution	—		—		1
Settlements	—		—		(84)
Benefit disbursements	(47)		(45)		(23)
Smart Foodservice acquired plan assets	—		51		—
Fair value of plan assets as of end of year	1,103		1,112		923
Net funded status	$	87	$	51	$	20

Schedule of Net Funded Status


	Other Postretirement Plans
	2021		2020		2019
Change in benefit obligation:
Benefit obligation as of beginning of year	$	6	$	6	$	6
Benefit disbursements	(1)		(1)		(1)
Other	1		1		1
Benefit obligation as of end of year	6		6		6
Change in plan assets:
Fair value of plan assets as of beginning of year	—		—		—
Employer contribution	1		1		1
Benefit disbursements	(1)		(1)		(1)
Fair value of plan assets as of end of year	—		—		—
Net funded status	$	(6)	$	(6)	$	(6)

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year

The amounts recognized on the Company's Consolidated Balance Sheets related to the company-sponsored defined benefit plans and other postretirement benefit plans consisted of the following:


	Pension Benefits
	2021		2020		2019
Amounts recognized in the consolidated balance sheets consist of the following:
Prepaid benefit obligation—noncurrent	$	89	$	53	$	22
Accrued benefit obligation—noncurrent	(1)		(2)		(2)
Net amount recognized in the consolidated balance sheets	$	88	$	51	$	20
Amounts recognized in accumulated other comprehensive loss consist of the following:
Net loss	$	85	$	98	$	129
Net loss recognized in accumulated other comprehensive loss	$	85	$	98	$	129
Additional information:
Accumulated benefit obligation	$	1,012	$	1,057	$	899


	Other Postretirement Plans
	2021		2020		2019
Amounts recognized in the consolidated balance sheets consist of the following:
Accrued benefit obligation—current	$	(1)	$	—	$	(1)
Accrued benefit obligation—noncurrent	(5)		(6)		(5)
Net amount recognized in the consolidated balance sheets	$	(6)	$	(6)	$	(6)
Amounts recognized in accumulated other comprehensive loss consist of the following:
Gain, net of prior service cost	$	1	$	—	$	1
Net gain recognized in accumulated other comprehensive loss	$	1	$	—	$	1
Additional information:
Accumulated postretirement benefit obligation	$	6	$	6	$	6

Assumptions to Determine Benefit Obligations at Period-end and Net Pension Costs

Weighted average assumptions used to determine benefit obligations as of period-end and net pension costs for the last three fiscal years were as follows:


	Pension Benefits
	2021		2020		2019
Benefit obligation:
Discount rate	3.00	%	2.80	%	3.50	%
Annual compensation increase	2.96	%	2.96	%	3.60	%
Net cost:
Discount rate	2.80	%	3.50	%	4.35	%
Expected return on plan assets	5.00	%	6.00	%	6.00	%
Annual compensation increase	2.96	%	3.60	%	3.60	%


	Other Postretirement Plans
	2021		2020		2019
Benefit obligation—discount rate	3.00	%	2.80	%	3.50	%
Net cost—discount rate	2.80	%	3.50	%	4.35	%

Assumed Health Care Trend Rates

The assumed healthcare trend rates for the last three fiscal years were as follows:


	2021		2020		2019
Immediate rate	5.50	%	5.60	%	5.90	%
Ultimate trend rate	4.50	%	4.50	%	4.50	%
Year the rate reaches the ultimate trend rate	2037		2037		2037

Fair Value of Defined Benefit Plans' Assets by Asset Fair Value Hierarchy Level

The following table sets forth the fair value of our defined benefit plans’ assets by asset fair value hierarchy level:


	Asset Fair Value as of January 1, 2022
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	2	$	—	$	—	$	2
Equities:
Domestic	44		—		—		44
International	2		—		—		2
Mutual fund:
International equities	26		—		—		26
Long-term debt securities:
Corporate debt securities:
Domestic	—		286		—		286
International	—		45		—		45
U.S. government securities	—		7		—		7
	$	74	$	338	$	—	412
Common collective trust funds:
Cash equivalents							24
Domestic equities							219
International equities							49
Treasury STRIPS							303
U.S. government securities							96
Total investments measured at net asset value as a practical expedient							691
Total defined benefit plans’ assets							$	1,103


	Asset Fair Value as of January 2, 2021
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	7	$	—	$	—	$	7
Equities:
Domestic	56		—		—		56
International	2		—		—		2
Mutual fund:
International equities	29		—		—		29
Long-term debt securities:
Corporate debt securities:
Domestic	—		292		—		292
International	—		36		—		36
U.S. government securities	—		53		—		53
Other	—		3		—		3
	$	94	$	384	$	—	478
Common collective trust funds:
Cash equivalents							11
Domestic equities							240
International equities							62
Treasury STRIPS							321
Total investments measured at net asset value as a practical expedient							634
Total defined benefit plans’ assets							$	1,112

Estimated Future Benefit Payments

Estimated future benefit payments, under Company sponsored plans as of January 1, 2022, were as follows:


	Pension Benefits		Other Postretirement Plans
2022	$	52	$	—
2023	53		1
2024	53		1
2025	53		1
2026	54		—
Subsequent five years	245		2

Contributions to Multiemployer Pension Plans

Pension Fund

EIN/

Plan Number

PPA

Zone Status

FIP/RP Status

Pending/

Implemented

Surcharge

Imposed

Expiration Dates

2021

2020

Minneapolis Food Distributing

Industry Pension Plan

41-6047047/001

Green

N/A

4/5/25

Teamster Pension Trust Fund of

Philadelphia and Vicinity

23-1511735/001

Yellow

Implemented

2/13/22

Local 703 I.B. of T. Grocery and
Food Employees’ Pension Plan

36-6491473/001

Green

N/A

6/30/21

United Teamsters Trust Fund A

13-5660513/001

Yellow

Implemented

5/30/22

Warehouse Employees Local

169 and Employers Joint

Pension Fund

23-6230368/001

Red

Implemented

2/13/22

UFCW National Pension Fund

51-6055922 / 001

Green

N/A

6/24/23

The following table provides information about the Company’s contributions to its multiemployer pension plans. For plans that are not individually significant to the Company, the total amount of the Company's contributions is aggregated.


	Contributions(1)(2)						Contributions That Exceed 5% of Total Plan Contributions(3)
	2021		2020		2019		2020	2019
Pension Fund
Minneapolis Food Distributing Industry Pension Plan	$	5	$	5	$	5	Yes	Yes
Teamster Pension Trust Fund of Philadelphia and Vicinity	4		4		4		No	No
Local 703 I.B. of T. Grocery and Food Employees’ Pension Plan	4		2		2		Yes	Yes
United Teamsters Trust Fund A	1		1		2		Yes	Yes
Warehouse Employees Local 169 and Employers Joint Pension Fund	1		1		1		Yes	Yes
UFCW National Pension Fund	1		1		1		No	No
Other funds	27		30		23		—	—
	$	43	$	44	$	38

(1)Contributions made to these plans during the Company’s fiscal year, which may not coincide with the plans’ respective fiscal years.

(2) Contributions do not include payments related to multiemployer pension plan withdrawals/settlements.

(3) Indicates whether the Company was listed in the respective multiemployer pension plan Form 5500 for the applicable plan year as having made more than 5% of total contributions to the plan.