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Pension and Other Postretirement Benefit Plans (Tables)
12 Months Ended
Oct. 02, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Change In Plans' Combined Net Benefit Obligations
The following table sets forth the changes in the plans’ combined net benefit obligation (segregated between plans existing within and outside the U.S.) for the years ended October 2, 2020 and September 27, 2019 (in thousands):
 U.S. PlansNon-U.S. Plans
 October 2, 2020September 27, 2019October 2, 2020September 27, 2019
Net benefit obligation at the beginning of the year$448,540 $448,402 $2,258,129 $2,149,246 
Service cost409 2,784 5,710 7,171 
Interest cost12,673 16,697 39,469 52,627 
Participants’ contributions— 243 167 367 
Actuarial (gains)/losses15,584 52,720 35,626 314,889 
Benefits paid(22,836)(30,648)(64,395)(72,453)
Curtailments/settlements/plan amendments(16,450)(39,388)(4,782)30,124 
Disposition of ECR Plans— — — (99,504)
Effect of exchange rate changes and other, net— (2,270)118,153 (124,338)
Net benefit obligation at the end of the year$437,920 $448,540 $2,388,077 $2,258,129 
Schedule of Change in Combined Fair Value of the Plans' Assets The following table sets forth the changes in the combined Fair Value of the plans’ assets (segregated between plans existing within and outside the U.S.) for the years ended October 2, 2020 and September 27, 2019 (in thousands):
 U.S. PlansNon-U.S. Plans
 October 2, 2020September 27, 2019October 2, 2020September 27, 2019
Fair value of plan assets at the beginning of the year$390,210 $390,829 $1,916,637 $1,867,481 
Actual return on plan assets33,345 31,140 61,221 280,785 
Employer contributions88 10,668 33,192 32,063 
Participants’ contributions— 243 167 367 
Gross benefits paid(22,836)(30,648)(64,395)(72,453)
Curtailments/settlements/plan amendments(18,557)(9,751)(4,782)(5,814)
Disposition of ECR Plans— — — (76,111)
Effect of exchange rate changes and other, net— (2,271)101,316 (109,681)
Fair value of plan assets at the end of the year$382,250 $390,210 $2,043,356 $1,916,637 
Reconciliation of Combined Funded Status of Plans and Recognized in Consolidated Balance Sheet
The following table reconciles the combined funded statuses of the plans recognized in the accompanying Consolidated Balance Sheets at October 2, 2020 and September 27, 2019 (segregated between plans existing within and outside the U.S.) (in thousands):
 U.S. PlansNon-U.S. Plans
 October 2, 2020September 27, 2019October 2, 2020September 27, 2019
Net benefit obligation at the end of the year$437,920 $448,540 $2,388,077 $2,258,129 
Fair value of plan assets at the end of the year382,250 390,210 2,043,356 1,916,637 
Underfunded amount recognized at the end of the year$55,670 $58,330 $344,721 $341,492 
Schedule of Accumulated and Projected Benefit Obligations
The following table presents the accumulated benefit obligation at October 2, 2020 and September 27, 2019 (segregated between plans existing within and outside the U.S.) (in thousands):
 U.S. PlansNon-U.S. Plans
 October 2, 2020September 27, 2019October 2, 2020September 27, 2019
Accumulated benefit obligation at the end of the year$436,770 $447,609 $2,376,059 $2,244,710 
Schedule of Amount Recognized in Accompanying Balance Sheets
The following table presents the amounts recognized in the accompanying Consolidated Balance Sheets at October 2, 2020 and September 27, 2019 (segregated between plans existing within and outside the U.S.) (in thousands): 
 U.S. PlansNon-U.S. Plans
 October 2, 2020September 27, 2019October 2, 2020September 27, 2019
Prepaid benefit cost included in noncurrent assets$— $— $1,037 $2,939 
Accrued benefit cost included in current liabilities85 85 4,375 4,177 
Accrued benefit cost included in noncurrent liabilities57,919 58,245 339,049 340,254 
Net amount recognized at the end of the year$58,004 $58,330 $342,387 $341,492 
Schedule of Pension Plans Recorded In Accumulated Other Comprehensive Loss Not Yet Recognized As Component of Net Periodic Pension Cost
The following table presents certain amounts relating to our plans recorded in accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit cost at October 2, 2020 and September 27, 2019 (segregated between U.S. and non-U.S. plans) (in thousands):
 U.S. PlansNon-U.S. Plans
 October 2, 2020September 27, 2019October 2, 2020September 27, 2019
Net actuarial loss$67,530 $71,083 $401,930 $365,661 
Prior service cost1,345 — 27,921 28,346 
Total$68,875 $71,083 $429,851 $394,007 
Schedule of Accumulated Comprehensive Income Amortized Against Earnings In Next Year
The following table presents the amount of accumulated comprehensive income that will be amortized against earnings as part of our net periodic benefit cost in fiscal 2021 based on 2020 exchange rates (segregated between U.S. and non-U.S. plans) (in thousands):
 U.S. PlansNon-U.S. Plans
Unrecognized net actuarial loss$4,249 $10,016 
Unrecognized prior service cost431 1,431 
Accumulated comprehensive loss to be recorded against earnings$4,680 $11,447 
Schedule of Weighted Average Measurement Of Assets And Liabilities The plans’ weighted average asset allocations at October 2, 2020 and September 27, 2019 (the measurement dates used in valuing the plans’ assets and liabilities) were as follows:
 
 U.S. PlansNon-U.S. Plans
 October 2, 2020September 27, 2019October 2, 2020September 27, 2019
Equity securities%%21 %20 %
Debt securities58 %58 %56 %52 %
Real estate investments— %— %%%
Other39 %39 %17 %21 %
Anticipated Cash Contributions
The following table presents the amount of cash contributions we anticipate making into the plans during fiscal 2021 (in thousands):  
 U.S. PlansNon-U.S. Plans
Anticipated cash contributions$— $31,258 
Schedule of Expected Payments to Participants in Pension Plan
The following table presents the total benefit payments expected to be paid to plan participants during each of the next five fiscal years, and in total for the five years thereafter (in thousands):
 U.S. PlansNon-U.S. Pans
2021$34,757 $70,264 
202232,690 69,594 
202332,022 71,386 
202430,710 72,131 
202529,312 73,217 
For the periods 2026 through 2030129,516 406,156 
Schedule of Contribution to Multiemployer Pension Plans
The following table presents the Company’s contributions to these multiemployer plans for the years ended October 2, 2020, September 27, 2019 and September 28, 2018 (in thousands):
 October 2, 2020September 27, 2019September 28, 2018
Canada$— $16,625 $36,354 
Europe1,922 9,413 10,677 
United States6,637 7,149 9,536 
Contributions to multiemployer pension plans$8,559 $33,187 $56,567 
U.S. Plans  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Significant Actuarial Assumptions In Determining Funded Status Plans
The following table presents the significant actuarial assumptions used in determining the funded statuses and the following year's benefit cost of the Company’s U.S. plans for the years ended October 2, 2020, September 27, 2019 and September 28, 2018:
 For the Years Ended
 October 2, 2020September 27, 2019September 28, 2018
Discount rates
2.0% to 2.7%
2.8% to 3.1%
3.9% to 4.2%
Rates of compensation increases3.5%3.5%3.5%
Expected long-term rates of return on assets
4.6% to 4.7%
5.1%
5.8% to 5.9%
Schedule of Pension Plans Recognized In Accumulated Other Comprehensive Loss
The following table presents certain amounts relating to our U.S. plans recognized in accumulated other comprehensive (gain) loss at October 2, 2020, September 27, 2019 and September 28, 2018 (in thousands):
 October 2, 2020September 27, 2019September 28, 2018
Arising during the period:   
Net actuarial (gain) loss$(900)$36,108 $(7,514)
Prior service cost (benefit)1,589— 
Total 68936,108(7,514)
Reclassification adjustments:   
Net actuarial losses(2,653)(2,282)(2,913)
Prior service cost (benefit)(244)— — 
Total (2,897)(2,282)(2,913)
Total$(2,208)$33,826 $(10,427)
Schedule of Fair Value of Pension Plan Assets
The following table presents the Fair Value of the Company’s Domestic U.S. plan assets at October 2, 2020, segregated by level of Fair Value measurement inputs within the Fair Value hierarchy promulgated by U.S. GAAP (in thousands):
 October 2, 2020
 Fair Value, Determined Using Fair Value Measurement Inputs
 Level 1Level 2Level 3Investments measured at Net Asset ValueTotal
Domestic equities$12,376 $— $— $— $12,376 
Domestic bonds68,324 131,534 — — 199,858 
Overseas bonds— 19,223 — — 19,223 
Cash and equivalents18,226 — — — 18,226 
Mutual funds132,567 — — — 132,567 
Total$231,493 $150,757 $— $— $382,250 
The following table presents the Fair Value of the Company’s U.S. plan assets at September 27, 2019, segregated by level of Fair Value measurement inputs within the Fair Value hierarchy promulgated by U.S. GAAP (in thousands):
 September 27, 2019
 Fair Value, Determined Using Fair Value Measurement Inputs
 Level 1Level 2Level 3Investments measured at Net Asset ValueTotal
Domestic equities$10,890 $— $— $— $10,890 
Domestic bonds65,490 134,594 — — 200,084 
Overseas bonds— 20,020 — — 20,020 
Cash and equivalents28,972 — — — 28,972 
Mutual funds130,244 — — — 130,244 
Total$235,596 $154,614 $— $— $390,210 
Schedule of Components of Net Periodic Pension Cost Recognized
The following table presents the components of net periodic benefit cost for the Company’s U.S. plans recognized in the accompanying Consolidated Statements of Earnings for the years ended October 2, 2020, September 27, 2019 and September 28, 2018 (in thousands):
 October 2, 2020September 27, 2019September 28, 2018
Service cost$409 $2,784 $4,765 
Interest cost12,673 16,697 13,778 
Expected return on plan assets(17,670)(21,508)(19,663)
Actuarial loss3,518 3,026 3,845 
Prior service cost323 — — 
Net pension cost, before special items$(747)$999 $2,725 
Curtailment expense/Settlement (gain) loss3,436 (35,020)4,146 
Total net periodic pension cost recognized$2,689 $(34,021)$6,871 
Non-U.S. Plans  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Significant Actuarial Assumptions In Determining Funded Status Plans
The following table presents the significant actuarial assumptions used in determining the funded statuses and the following year's benefit cost of the Company’s non-U.S. plans for the years ended October 2, 2020, September 27, 2019 and September 28, 2018:
For the Years Ended
 October 2, 2020September 27, 2019September 28, 2018
Discount rates
0.4% to 6.6%
 
0.2% to 7.1%
 
1.3% to 8.1%
Rates of compensation increases
2.7% to 7.5%
 
3.7% to 7.5%
 
3.8% to 7.5%
Expected long-term rates of return on assets
1.8% to 7.0%
 
2.3% to 7.5%
 
3.8% to 7.5%
Schedule of Pension Plans Recognized In Accumulated Other Comprehensive Loss
The following table presents certain amounts relating to our non-U.S. plans recognized in accumulated other comprehensive (gain) loss at October 2, 2020, September 27, 2019 and September 28, 2018 (in thousands):
 October 2, 2020September 27, 2019September 28, 2018
Arising during the period:   
Net actuarial (gain) loss$71,676 $83,368 $59,827 
Net (gain) loss on Sale of ECR— (12,520)— 
Prior service cost (benefit)— 29,829 215 
Total71,676 100,677 60,042 
Reclassification adjustments:   
Net actuarial losses(6,322)(6,546)(5,507)
Prior service cost(1,169)(1,075)181 
Total(7,491)(7,621)(5,326)
Total$64,185 $93,056 $54,716 
Schedule of Fair Value of Pension Plan Assets
The following table presents the Fair Value of the Company’s non-U.S. plan assets at October 2, 2020, segregated by level of Fair Value measurement inputs within the Fair Value hierarchy promulgated by U.S. GAAP (in thousands):
 October 2, 2020
 Fair Value, Determined Using Fair Value Measurement Inputs
 Level 1Level 2Level 3Investments measured at Net Asset ValueTotal
Domestic equities$— $103,036 $— $5,745 $108,781 
Overseas equities— 229,576 — 87,725 317,301 
Domestic bonds— 34,469 — 1,175 35,644 
Overseas bonds— 1,049,119 — 58,493 1,107,612 
Cash and equivalents24,568 — — — 24,568 
Real estate— 10,383 105,422 — 115,805 
Insurance contracts— 4,402 67,709 17,909 90,020 
Hedge funds— — 171,730 7,153 178,883 
Mutual funds— 64,742 — — 64,742 
Total$24,568 $1,495,727 $344,861 $178,200 $2,043,356 
The following table presents the Fair Value of the Company’s non-U.S. plan assets at September 27, 2019, segregated by level of Fair Value measurement inputs within the Fair Value hierarchy promulgated by U.S. GAAP (in thousands):
 September 27, 2019
 Fair Value, Determined Using Fair Value Measurement Inputs
 Level 1Level 2Level 3Investments measured at Net Asset ValueTotal
Domestic equities$— $17,255 $— $19,413 $36,668 
Overseas equities— 182,600 — 50,127 232,727 
Domestic bonds— 306,225 — 34,408 340,633 
Overseas bonds— 728,616 — 39,292 767,908 
Cash and equivalents37,811 (16)— — 37,795 
Real estate— 24,735 97,539 15,198 137,472 
Insurance contracts— 4,478 72,788 — 77,266 
Derivatives— — — — — 
Hedge funds— — 130,200 7,156 137,356 
Mutual funds— 148,812 — — 148,812 
Total$37,811 $1,412,705 $300,527 $165,594 $1,916,637 
Summary of Changes in the Fair Value of Plans Level 3 Assets
The following table summarizes the changes in the Fair Value of the Company’s non-U.S. Pension Plans’ Level 3 assets for the years ended September 27, 2019 and October 2, 2020 (in thousands):
 Real EstateInsurance ContractsHedge Funds
Balance at Balance at September 28, 2018$99,587 $95,782 $135,786 
Purchases, sales, and settlements(17,902)(5,126)(26,591)
Realized and unrealized gains21,838 9,134 29,161 
Disposition of ECR Assets— (22,885)— 
Effect of exchange rate changes(5,984)(4,117)(8,156)
Balance at September 27, 2019$97,539 $72,788 $130,200 
Purchases, sales, and settlements(475)(7,375)29,999 
Realized and unrealized gains (losses)3,337 (1,399)5,435 
Effect of exchange rate changes5,021 3,695 6,096 
Balance at October 2, 2020$105,422 $67,709 $171,730 
Schedule of Components of Net Periodic Pension Cost Recognized
The following table presents the components of net periodic benefit cost for the Company’s Non-U.S. plans recognized in the accompanying Consolidated Statements of Earnings for the years ended October 2, 2020, September 27, 2019 and September 28, 2018 (in thousands):
 October 2, 2020September 27, 2019September 28, 2018
Service cost$5,710 $7,171 $8,269 
Interest cost39,469 52,627 49,324 
Expected return on plan assets(93,407)(82,274)(83,328)
Actuarial loss7,578 7,854 6,655 
Prior service cost1,405 1,263 (257)
Net pension cost, before special items$(39,245)$(13,359)$(19,337)
Curtailment expense/Settlement (gain) loss1,341 1,933 1,268 
Total net periodic pension (income) cost recognized$(37,904)$(11,426)$(18,069)
Total net periodic pension (income) cost recognized from Discontinued Operations$— $2,282 $3,606 
Total net periodic pension (income) cost recognized from Continuing Operations$(37,904)$(13,708)$(21,675)