Employee Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Schedule of Defined Benefit Plans Disclosures

A summary of the plans’ net periodic pension cost, benefit obligations, funded status, and net balance sheet position is as follows (dollars in thousands):

	Fiscal 2016						Fiscal 2015
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Net Periodic Pension Cost (Benefit):
Service cost	$	456		$	3,364		$	505		$	1,216
Interest cost	1,280			41,606			1,254			12,992
Expected return on assets	(777		)	(68,845		)	(813		)	(20,547		)
Amortization of net loss (gain)	126			35			694			—
Curtailment (gain) loss	—			(632		)	—			3,202
Pension settlement	—			—			—			—
	$	1,085		$	(24,472	)	$	1,640		$	(3,137	)
Change in Benefit Obligation:
Benefit obligation – beginning of year	$	31,830		$	1,476,370		$	33,907		$	16,114
Benefit obligation – acquisition	—			—			—			1,495,089
Service cost	456			3,364			505			1,216
Interest on benefit obligations	1,280			41,606			1,254			12,992
Employee contributions	—			404			—			182
Actuarial (gain) loss	(722		)	297,754			(2,969		)	8,668
Pension settlement	—			—			—			—
Net benefit payments	(895		)	(64,466		)	(867		)	(24,179		)
Curtailment (gain) loss	—			(706		)	—			3,202
Exchange effect	—			(275,833		)	—			(36,914		)
Benefit obligation – end of year	$	31,949		$	1,478,493		$	31,830		$	1,476,370
Change in Plan Assets:
Plan assets at fair value – beginning of year	$	12,987		$	1,287,723		$	13,575		$	15,306
Plan assets at fair value – acquisition	—			—			—			1,305,506
Company contributions	754			17,758			823			16,950
Investment gain (loss)	743			161,405			(544		)	6,173
Employee contributions	—			404			—			182
Benefit payments and plan expenses	(895		)	(64,466		)	(867		)	(24,179		)
Exchange effect	—			(228,959		)	—			(32,215		)
Plan assets at fair value – end of year	$	13,589		$	1,173,865		$	12,987		$	1,287,723
Funded Status:
Unfunded benefit obligation	$	(18,360	)	$	(304,628	)	$	(18,843	)	$	(188,647	)
Amounts recognized in balance sheet at year end:
Accrued pension benefits	$	(18,360	)	$	(304,628	)	$	(18,843	)	$	(188,647	)
Pre-tax components in accumulated other comprehensive income at period end:
Net actuarial loss	$	4,908		$	206,490		$	5,725		$	25,141
Pre-tax components in recognized in other comprehensive income for the period:
Current year actuarial (gain) loss	$	(691	)	$	181,384		$	(1,612	)	$	25,141
Actuarial loss recognized	(126		)	(35		)	(694		)	—
Total amount recognized	$	(817	)	$	181,349		$	(2,306	)	$	25,141
Accumulated Benefit Obligation	$	31,041		$	1,478,435		$	30,106		$	1,475,631
Salary growth rate	n/a			1.6		%	n/a			1.5		%
Assumed discount rate	3.9		%	2.5		%	4.1		%	3.7		%
Expected return on assets	6.0		%	6.2		%	6.0		%	6.2		%

Schedule of Allocation of Plan Assets

The assets of the plans were invested in the following classes of securities (none of which were securities of the company):

U.S. Plans:

	Target Allocation		Percentage of Plan Assets
			2016		2015
Equity	48	%	51	%	47	%
Fixed income	40		39		39
Money market	4		3		5
Other (real estate investment trusts & commodities contracts)	8		7		9
	100	%	100	%	100	%

Non-U.S. Plans:

	Target Allocation		Percentage of Plan Assets
			2016		2015
Equity	16	%	20	%	19	%
Fixed income	45		55		44
Alternatives/Other	28		8		20
Real Estate	11		12		12
Cash and cash equivalents	—		5		5
	100	%	100	%	100	%

Pension Plans Fair Value Of Investments

The following tables summarize the basis used to measure the pension plans’ assets at fair value as of December 31, 2016 and January 2, 2016 (in thousands):

U.S. Plans:

	Fiscal 2016						Fiscal 2015
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Net Asset Value		Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Net Asset Value
Short Term Investment Fund (a)	$	368	$	—	$	368	$	540	$	—	$	540
Equity Securities:
Large Cap	3,055		3,055		—		3,149		3,149		—
Mid Cap	512		512		—		383		383		—
Small Cap	455		455		—		383		383		—
International	2,917		2,917		—		2,291		2,291		—
Fixed Income:
Government/Corporate	4,367		4,367		—		4,311		4,311		—
High Yield	971		971		—		778		778		—
Alternative:
Global Real Estate Investment Trust	539		539		—		771		771		—
Commodities Contracts	405		405		—		381		381		—
Total	$	13,589	$	13,221	$	368	$	12,987	$	12,447	$	540

(a) Represents collective short term investment fund, composed of high-grade money market instruments with short maturities.

Non-U.S. Plans:

	Fiscal 2016
Asset Category	Total			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Net Asset Value
Cash and cash equivalents	$	58,131		$	4,730	$	2,886	$	—	$	50,515
Equity Securities:
UK	87,828			2,098		—		—		85,730
International:
Developed	135,186			3,547		—		—		131,639
Emerging	6,803			79		—		—		6,724
Unquoted/Private Equity	3189			0		—		—		3,189
Fixed Income:
Government/Corporate:
UK	317,621			11,203		14,009		—		292,409
International	107,882			—		103		—		107,779
Index Linked	212,327			4,205		—		—		208,122
Other	3,812			—		—		—		3,812
Convertible Bonds	160			—		—		—		160
Real Estate:
Direct	121,612			—		121,612		—		—
Indirect	10,693			138		—		—		10,555
Hedge Fund Strategy:
Equity Long/Short	61,612			—		—		—		61,612
Arbitrage & Event	64,961			—		—		—		64,961
Directional Trading & Fixed Income	30,430			—		—		—		30,430
Cash & Other	38,099			—		—		—		38,099
Direct Sourcing	1,379			—		—		—		1,379
Leveraged Loans	11,025			—		—		—		11,025
Alternative/Other	(98,885		)	—		—		95		(98,980		)
Total	$	1,173,865		$	26,000	$	138,610	$	95	$	1,009,160

	Fiscal 2015
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Net Asset Value
Cash and cash equivalents	$	73,006	$	3,937	$	3,288	$	—	$	65,781
Equity Securities:
UK	91,269		2,565		194		—		88,510
International:
Developed	147,277		3,294		2,414		—		141,569
Emerging	6,375		77		—		—		6,298
Unquoted/Private Equity	759		—		—		—		759
Fixed Income:
Government/Corporate:
UK	168,706		10,816		19,952		—		137,938
International	126,735		—		1,046		—		125,689
Index Linked	258,502		—		—		—		258,502
Other	3,518		—		—		—		3,518
Convertible Bonds	1,471		—		—		—		1,471
Real Estate:
Direct	140,765		—		140,765		—		—
Indirect	13,617		177		—		—		13,440
Hedge Fund Strategy:
Equity Long/Short	80,230		—		—		—		80,230
Arbitrage & Event	92,635		—		—		—		92,635
Directional Trading & Fixed Income	55,424		—		—		—		55,424
Cash & Other	2,557		—		—		—		2,557
Direct Sourcing	1,655		—		—		—		1,655
Leveraged Loans	10,824		—		—		—		10,824
Alternative/Other	12,398		288		—		—		12,110
Total	$	1,287,723	$	21,154	$	167,659	$	—	$	1,098,910

Schedule of Expected Benefit Payments

Estimated future benefit payments under the plans are as follows (dollars in thousands):

	U.S. Plans		Non-U.S. Plans
2017	$	977	$	54,702
2018	1,648		56,430
2019	1,653		57,493
2020	1,674		59,525
2021 through 2026	10,634		368,206