Employee Benefit Plans (Tables)

12 Months Ended

Dec. 29, 2019

Dec. 30, 2018

Pension Plans, Defined Benefit

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Components of Net Periodic Benefit Cost (Credit)

Net periodic pension cost (credit) for U.S. and non-U.S. plans included the following components for fiscal years ended:

	December 29, 2019			December 30, 2018			December 31, 2017
	(In thousands)
Service and administrative costs	$	6,598		$	6,853		$	4,951
Interest cost	16,546			16,146			16,707
Expected return on plan assets	(24,561		)	(28,939		)	(26,401		)
Actuarial loss (gain)	27,134			17,146			(7,085		)
Curtailment gain	(1,547		)	—			—
Amortization of prior service (credit) cost	(152		)	375			(195		)
Net periodic pension cost (credit)	$	24,018		$	11,581		$	(12,023	)

Schedule of Net Funded Status

The following table sets forth the changes in the funded status of the principal U.S. pension plan and the principal non-U.S. pension plans and the amounts recognized in the Company’s consolidated balance sheets as of December 29, 2019 and December 30, 2018.

	December 29, 2019						December 30, 2018
	Non-U.S.			U.S.			Non-U.S.			U.S.
	(In thousands)
Actuarial present value of benefit obligations:
Accumulated benefit obligations	$	338,722		$	304,710		$	304,065		$	283,310
Change in benefit obligations:
Projected benefit obligations at beginning of year	$	311,168		$	283,310		$	343,410		$	308,713
Service and administrative costs	4,248			2,350			4,528			2,325
Interest cost	5,448			11,098			5,484			10,662
Benefits paid and plan expenses	(12,778		)	(21,162		)	(13,081		)	(19,709		)
Participants’ contributions	162			—			176			—
Business acquisitions	—			—			537			—
Plan amendments	—			—			533			—
Plan curtailments	(1,420		)	—			—			—
Actuarial loss (gain)	34,602			29,114			(13,141		)	(18,681		)
Effect of exchange rate changes	25			—			(17,278		)	—
Projected benefit obligations at end of year	$	341,455		$	304,710		$	311,168		$	283,310
Change in plan assets:
Fair value of plan assets at beginning of year	$	159,163		$	234,342		$	179,736		$	253,427
Actual return on plan assets	19,873			41,270			(5,653		)	(14,376		)
Benefits paid and plan expenses	(12,778		)	(21,162		)	(13,081		)	(19,709		)
Employer’s contributions	8,200			—			8,480			15,000
Participants’ contributions	162			—			176			—
Effect of exchange rate changes	5,240			—			(10,495		)	—
Fair value of plan assets at end of year	$	179,860		$	254,450		$	159,163		$	234,342
Net liabilities recognized in the consolidated balance sheets	$	(161,595	)	$	(50,260	)	$	(152,005	)	$	(48,968	)
Net amounts recognized in the consolidated balance sheets consist of:
Other assets	$	36,699		$	—		$	31,419		$	—
Current liabilities	(6,764		)	—			(6,752		)	—
Long-term liabilities	(191,530		)	(50,260		)	(176,672		)	(48,968		)
Net liabilities recognized in the consolidated balance sheets	$	(161,595	)	$	(50,260	)	$	(152,005	)	$	(48,968	)
Net amounts recognized in accumulated other comprehensive income consist of:
Prior service cost	$	—		$	—		$	(278	)	$	—
Actuarial assumptions as of the year-end measurement date:
Discount rate	1.34		%	3.01		%	2.07		%	4.05		%
Rate of compensation increase	3.36		%	None			3.48		%	None

Actuarial assumptions used to determine net periodic pension cost during the year were as follows:

	December 29, 2019				December 30, 2018				December 31, 2017
	Non-U.S.		U.S.		Non-U.S.		U.S.		Non-U.S.		U.S.
Discount rate	2.07	%	4.05	%	1.99	%	3.56	%	2.06	%	4.06	%
Rate of compensation increase	3.48	%	None		3.50	%	None		3.64	%	None
Expected rate of return on assets	5.30	%	7.25	%	5.90	%	7.25	%	6.00	%	7.25	%

Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets [Table Text Block]

The following table provides a breakdown of the non-U.S. benefit obligations and fair value of assets for pension plans that have benefit obligations in excess of plan assets:

	December 29, 2019		December 30, 2018
	(In thousands)
Pension Plans with Projected Benefit Obligations in Excess of Plan Assets
Projected benefit obligations	$	198,294	$	183,424
Fair value of plan assets	—		—
Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets
Accumulated benefit obligations	$	195,657	$	180,560
Fair value of plan assets	—		—

Schedule of Allocation of Plan Assets

Assets of the defined benefit pension plans are primarily equity and debt securities. Asset allocations as of December 29, 2019 and December 30, 2018, and target asset allocations for fiscal year 2020 are as follows:

	Target Allocation				Percentage of Plan Assets at
	January 3, 2021				December 29, 2019				December 30, 2018
Asset Category	Non-U.S.		U.S.		Non-U.S.		U.S.		Non-U.S.		U.S.
Equity securities	0-5%		40-60%		—	%	41	%	48	%	39	%
Debt securities	85-90%		40-60%		87	%	59	%	51	%	61	%
Other	10-15%		0-10%		13	%	—	%	1	%	—	%
Total	100	%	100	%	100	%	100	%	100	%	100	%

Schedule of Changes in Fair Value of Plan Assets

The fair values of the Company’s pension plan assets as of December 29, 2019 and December 30, 2018 by asset category, classified in the three levels of inputs described in Note 22 to the consolidated financial statements are as follows:

			Fair Value Measurements at December 29, 2019 Using:
	Total Carrying Value at December 29, 2019		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable  Inputs (Level 3)
	(In thousands)
Cash	$	6,177	$	6,177	$	—	$	—
Equity securities:
U.S. large-cap	57,797		57,797		—		—
International large-cap value	26,914		26,914		—		—
U.S. small mid-cap	2,700		2,700		—		—
Emerging markets growth	12,853		12,853		—		—
Domestic real estate funds	2,010		2,010		—		—
Foreign real estate funds	22,688		—		—		22,688
Fixed income securities:
Non-U.S. treasury securities	93,473		—		93,473		—
Corporate and U.S. debt instruments	139,300		47,104		92,196		—
Corporate bonds	29,846		—		29,846		—
High yield bond funds	5,734		5,734		—		—
Other types of investments:
Multi-strategy hedge funds	1,721		—		—		1,721
Non-U.S. government index linked bonds	33,097		—		33,097		—
Total assets measured at fair value	$	434,310	$	161,289	$	248,612	$	24,409

			Fair Value Measurements at December 30, 2018 Using:
	Total Carrying Value at December 30, 2018		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable  Inputs (Level 3)
	(In thousands)
Cash	$	6,326	$	6,326	$	—	$	—
Equity Securities:
U.S. large-cap	35,072		35,072		—		—
International large-cap value	24,175		24,175		—		—
U.S. small-cap	1,928		1,928		—		—
Emerging markets growth	11,993		11,993		—		—
Equity index funds	54,342		—		54,342		—
Domestic real estate funds	1,353		1,353		—		—
Foreign real estate funds	22,196		—		—		22,196
Commodity funds	886		886		—		—
Fixed income securities:
Non-U.S. Treasury Securities	23,352		—		23,352		—
Corporate and U.S. debt instruments	131,211		48,133		83,078		—
Corporate bonds	24,848		—		24,848		—
High yield bond funds	5,186		5,186		—		—
Other types of investments:
Multi-strategy hedge funds	16,934		—		—		16,934
Non-U.S. government index linked bonds	33,703		—		33,703		—
Total assets measured at fair value	$	393,505	$	135,052	$	219,323	$	39,130

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets

A reconciliation of the beginning and ending Level 3 assets for fiscal years 2019, 2018 and 2017 is as follows:

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3):
		Foreign Real Estate Funds		Multi-strategy Hedge Funds			Total
	(In thousands)
Balance at January 1, 2017		$	—	$	23,790		$	23,790
Sales		—		(8,189		)	(8,189		)
Realized gains		—		1,542			1,542
Unrealized losses		—		(354		)	(354		)
Balance at December 31, 2017		—		16,789			16,789
Purchases		22,196		—			22,196
Unrealized gains		—		145			145
Balance at December 30, 2018		22,196		16,934			39,130
Sales		—		(15,586		)	(15,586		)
Realized gains		—		4,175			4,175
Unrealized gains (losses)		492		(3,802		)	(3,310		)
Balance at December 29, 2019		$	22,688	$	1,721		$	24,409

Schedule of Expected Benefit Payments

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid as follows:

	Non-U.S.		U.S.
	(In thousands)
2020	$	11,540	$	19,200
2021	12,006		19,346
2022	12,083		19,449
2023	12,362		19,561
2024	13,119		19,539
2025-2029	66,950		94,159

Other Postretirement Benefit Plans, Defined Benefit [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Components of Net Periodic Benefit Cost (Credit)

Net periodic postretirement medical benefit (credit) cost included the following components for the fiscal years ended:

	December 29, 2019			December 30, 2018			December 31, 2017
	(In thousands)
Service cost	$	87		$	106		$	92
Interest cost	116			120			125
Expected return on plan assets	(1,175		)	(1,254		)	(1,114		)
Actuarial (gain) loss	(1,776		)	1,621			(741		)
Net periodic postretirement medical benefit (credit) cost	$	(2,748	)	$	593		$	(1,638	)

Schedule of Net Funded Status

The following table sets forth the changes in the postretirement medical plan’s funded status and the amounts recognized in the Company’s consolidated balance sheets as of December 29, 2019 and December 30, 2018.

	December 29, 2019			December 30, 2018
	(In thousands)
Actuarial present value of benefit obligations:
Retirees	$	583		$	688
Active employees eligible to retire	362			408
Other active employees	1,966			2,317
Accumulated benefit obligations at beginning of year	2,911			3,413
Service cost	87			106
Interest cost	116			120
Benefits paid	(122		)	(117		)
Actuarial loss (gain)	108			(611		)
Change in accumulated benefit obligations during the year	189			(502		)
Retirees	611			583
Active employees eligible to retire	420			362
Other active employees	2,069			1,966
Accumulated benefit obligations at end of year	$	3,100		$	2,911
Change in plan assets:
Fair value of plan assets at beginning of year	$	16,279		$	17,374
Actual return on plan assets	2,937			(993		)
Benefits reimbursements paid	—			(102		)
Fair value of plan assets at end of year	$	19,216		$	16,279
Net assets recognized in the consolidated balance sheets	$	16,116		$	13,368
Net amounts recognized in the consolidated balance sheets consist of:
Other assets	$	16,116		$	13,368
Net amounts recognized in accumulated other comprehensive income consist of:
Prior service cost	$	—		$	—
Actuarial assumptions as of the year-end measurement date:
Discount rate	3.09		%	4.09		%

Actuarial assumptions used to determine net cost during the year are as follows:

	December 29, 2019		December 30, 2018		December 31, 2017
Discount rate	4.09	%	3.60	%	4.11	%
Expected rate of return on assets	7.25	%	7.25	%	7.25	%

Schedule of Changes in Fair Value of Plan Assets

The fair values of the Company’s plan assets at December 29, 2019 and December 30, 2018 by asset category, classified in the three levels of inputs described in Note 22, are as follows:

			Fair Value Measurements at December 29, 2019 Using:
	Total Carrying Value at December 29, 2019		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable  Inputs (Level 3)
	(In thousands)
Cash	$	408	$	408	$	—	$	—
Equity securities:
U.S. large-cap	4,365		4,365		—		—
International large-cap value	2,033		2,033		—		—
U.S. small mid-cap	204		204		—		—
Emerging markets growth	971		971		—		—
Domestic real estate funds	152		152		—		—
Fixed income securities:
Corporate debt instruments	10,520		3,557		6,963		—
High yield bond funds	433		433		—		—
Other types of investments:
Multi-strategy hedge funds	130		—		—		130
Total assets measured at fair value	$	19,216	$	12,123	$	6,963	$	130

			Fair Value Measurements at December 30, 2018 Using:
	Total Carrying Value at December 30, 2018		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable  Inputs (Level 3)
	(In thousands)
Cash	$	390	$	390	$	—	$	—
Equity securities:
U.S. large-cap	2,436		2,436		—		—
International large-cap value	1,679		1,679		—		—
U.S. small mid-cap	134		134		—		—
Emerging markets growth	833		833		—		—
Domestic real estate funds	94		94		—		—
Commodity funds	62		62		—		—
Fixed income securities:
Corporate debt instruments	9,115		3,344		5,771		—
High yield bond funds	360		360		—		—
Other types of investments:
Multi-strategy hedge funds	1,176		—		—		1,176
Total assets measured at fair value	$	16,279	$	9,332	$	5,771	$	1,176

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets

A reconciliation of the beginning and ending Level 3 assets for fiscal years 2019, 2018 and 2017 is as follows:

	Fair Value  Measurements  Using Significant  Unobservable Inputs (Level 3):
	Multi-strategy Hedge Funds
	(In thousands)
Balance at January 1, 2017	$	1,508
Sales	(562		)
Realized gains	229
Unrealized losses	(24		)
Balance at December 31, 2017	1,151
Unrealized gains	25
Balance at December 30, 2018	1,176
Sales	(1,074		)
Realized gains	315
Unrealized losses	(287		)
Balance at December 29, 2019	$	130

Schedule of Expected Benefit Payments

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid as follows:

Postretirement Medical Plan
	(In thousands)
2020	$	130
2021	146
2022	165
2023	177
2024	187
2025-2029	995