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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 29, 2024
Retirement Benefits [Abstract]  
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan
The tables presented below set forth the funded status of the Company’s significant foreign defined benefit plans and required disclosures in accordance with applicable accounting standards:
 
 Fiscal Year
 20242023
 (in thousands)
Change in benefit obligation:  
Benefit obligation, beginning of year$214,428 $195,440 
Service cost500 458 
Interest cost7,933 8,169 
Benefits and expenses paid(10,709)(10,832)
Actuarial loss (gain)
(4,321)12,760 
Currency translation adjustment(6,943)8,433 
Benefit obligation, end of year$200,888 $214,428 
 
Change in plan assets:  
Plan assets, beginning of year$199,348 $187,485 
Actual return on assets(5,144)11,596 
Company contributions2,626 2,497 
Benefits paid(10,709)(10,832)
Currency translation adjustment(4,968)8,602 
Plan assets, end of year$181,153 $199,348 
 
Funded status $(19,735)$(15,080)
 
Amounts recognized in consolidated balance sheets:
Other assets
$15,465 $25,235 
Current liabilities
(1,170)(1,182)
Other long-term liabilities, net of current portion
(34,030)(39,133)
Under-funded status at end of fiscal year$(19,735)$(15,080)
Amounts recognized in accumulated other comprehensive loss, after tax:  
Unrecognized actuarial loss$36,323 $29,918 
Total amount recognized, end of year
$36,323 $29,918 
 
Accumulated benefit obligation$200,888 $214,428 
The following table summarizes this information as of December 29, 2024 and December 31, 2023.
 
 End of Fiscal Year
 20242023
 (in thousands)
UK Plan  
Projected benefit obligation$106,865 $108,424 
Accumulated benefit obligation106,865 108,424 
Plan assets122,330 133,658 
 
Dutch Plan
  
Projected benefit obligation$63,938 $71,422 
Accumulated benefit obligation63,938 71,422 
Plan assets58,823 65,690 
 
nora Plan  
Projected benefit obligation$30,085 $34,582 
Accumulated benefit obligation30,085 34,582 
Plan assets— — 
The tables presented below set forth the required disclosures in accordance with applicable accounting standards, and amounts recognized in the consolidated financial statements related to the domestic SCP. There is no service cost component in the change in benefit obligation in 2024 and 2023 as there are no longer any participants accruing benefits in the plan.
 
 Fiscal Year
 20242023
 (in thousands)
Change in benefit obligation:  
Benefit obligation, beginning of year$22,659 $22,731 
Interest cost1,065 1,134 
Benefits paid(1,872)(1,873)
Actuarial loss (gain)
(787)667 
Benefit obligation, end of year$21,065 $22,659 
Schedule of Net Periodic Benefit Cost
 Fiscal Year
 202420232022
 (in thousands)
Components of net periodic benefit cost:   
Service cost$500 $458 $840 
Interest cost7,933 8,169 3,793 
Expected return on plan assets(7,858)(7,933)(3,957)
Amortization of prior service cost180 137 117 
Amortization of net actuarial losses1,080 468 1,201 
Net periodic benefit cost$1,835 $1,299 $1,994 
Schedule of Assumptions Used to Determine Net Periodic Benefit Cost
 Fiscal Year
 202420232022
Weighted average assumptions used to determine net periodic benefit cost:   
Discount rate3.9 %4.1 %1.4 %
Expected return on plan assets4.6 %4.6 %3.0 %
Weighted average assumptions used to determine benefit obligations:   
Discount rate4.7 %4.1 %4.4 %
The accumulated benefit obligation related to the SCP was $21.1 million at December 29, 2024, and $22.7 million at December 31, 2023. The SCP is currently unfunded; as such, the benefit obligations disclosed are also the benefit obligations in excess of the plan assets. The Company uses insurance instruments to help limit its exposure under the SCP.
Fiscal Year
 202420232022
 (in thousands, except for assumptions)
Assumptions used to determine net periodic benefit cost:   
Discount rate4.90 %5.20 %2.65 %
 
Assumptions used to determine benefit obligations:   
Discount rate5.45 %4.90 %5.20 %
 
Components of net periodic benefit cost:   
Interest cost$1,065 $1,134 $771 
Amortization of actuarial losses
239 195 557 
Net periodic benefit cost$1,304 $1,329 $1,328 
Schedule of Allocation of Plan Assets
The Company’s actual weighted average asset allocations for 2024 and 2023, and the targeted asset allocation for 2025, of the foreign defined benefit plans by asset category, are as follows:
 
 Fiscal Year
 202520242023
Asset CategoryTarget AllocationPercentage of Plan Assets at Year End
Debt and debt securities65%—70%58%59%
Short-term investments—%—2%9%8%
Other investments30%—35%33%33%
 100%100%100%
As noted above, the Dutch Plan assets as represented by the insurance contract are classified as a level 3 asset and included in the “Other” asset category.
 Pension Plan Assets by Category as of December 29, 2024
 Dutch PlanUK PlanTotal
 (in thousands)
Level 1$— $16,182 $16,182 
Level 2— 90,330 90,330 
Level 358,823 15,818 74,641 
Total$58,823 $122,330 $181,153 
 
 Pension Plan Assets by Category as of December 31, 2023
 Dutch PlanUK PlanTotal
 (in thousands)
Level 1$— $16,232 $16,232 
Level 2— 92,200 92,200 
Level 365,690 25,226 90,916 
Total$65,690 $133,658 $199,348 
The tables below detail the foreign defined benefit plans’ assets by asset allocation and fair value hierarchy:
 
 End of Fiscal Year 2024
Asset CategoryLevel 1Level 2Level 3
 (in thousands) 
Debt and debt securities$— $90,330 $14,950 
Short-term investments (1)
16,182 — — 
Other investments (2)
— — 59,691 
 $16,182 $90,330 $74,641 
 
 End of Fiscal Year 2023
Asset CategoryLevel 1Level 2Level 3
 (in thousands)
Debt and debt securities$— $92,200 $24,325 
Short-term investments (1)
16,232 — — 
Other investments (2)
— — 66,591 
 $16,232 $92,200 $90,916 
(1) Short-term investments are generally invested in interest-bearing accounts.
(2) Other investments are comprised of insurance contracts.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets
The table below indicates the change in value related to these level 3 assets during 2024 and 2023:

Fiscal Year
 20242023
 (in thousands)
Balance of level 3 assets, beginning of year$90,916 $89,864 
Actual return on plan assets (1)
(2,463)3,429 
Purchases, sales and settlements, net(10,138)(5,734)
Currency translation adjustment
(3,674)3,357 
Balance of level 3 assets, end of year$74,641 $90,916 

(1) Includes $(2.1) million and $2.7 million for 2024 and 2023, respectively, of unrealized (losses) / gains recognized during the period in other comprehensive loss for assets held at year end.
Schedule of Expected Future Benefit Payments
During 2025, the Company expects to contribute $2.4 million to the foreign defined benefit plans. It is anticipated that future benefit payments for the foreign defined benefit plans will be as follows:
 
Fiscal YearExpected Payments
 (in thousands)
2025$10,551 
202610,672 
202710,775 
202811,041 
202911,242 
2030-2034
56,744 
During 2024, the Company contributed $1.9 million in the form of direct benefit payments for its domestic SCP. It is anticipated that future benefit payments for the SCP will be as follows:
 
Fiscal YearExpected Payments
 (in thousands)
2025$1,873 
20261,873 
20271,873 
20281,873 
20291,838 
2030-20348,601 
Schedule of Amounts Recognized in Consolidated Balance Sheet and Accumulated Other Comprehensive Loss
The amounts recognized in the consolidated balance sheets are as follows:
 
End of Fiscal Year
 20242023
 (in thousands)
Current liabilities$1,873 $1,873 
Non-current liabilities19,192 20,786 
Total benefit obligation$21,065 $22,659 
The components of the amounts in accumulated other comprehensive loss, after tax, are as follows:
 
Fiscal Year
 20242023
 (in thousands)
Unrecognized actuarial loss$3,428 $4,098