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Postretirement Benefit Plans (Tables)
12 Months Ended
Mar. 25, 2017
Postretirement Benefit Plans [Abstract]  
Schedule of Net Funded Status



 

 

 

 

 



 

 

 

 

 



March 25,

 

March 26,



2017

 

2016

Change in benefit obligation:

 

 

 

 

 

Beginning balance

$

23,968 

 

$

27,091 

Expenses

 

 -

 

 

15 

Interest cost

 

759 

 

 

821 

Plan settlements

 

(4,517)

 

 

 -

Benefits paid and expenses

 

(264)

 

 

(1,095)

Change in foreign currency exchange rate

 

(2,763)

 

 

(1,221)

Actuarial (gain) / loss

 

3,940 

 

 

(1,643)

Total benefit obligation ending balance

 

21,123 

 

 

23,968 



 

 

 

 

 

Change in plan assets:

 

 

 

 

 

Beginning balance

 

25,688 

 

 

26,735 

Actual return on plan assets

 

3,933 

 

 

(155)

Employer contributions

 

990 

 

 

1,409 

Plan settlements

 

(5,243)

 

 

 -

Change in foreign currency exchange rate

 

(2,961)

 

 

(1,206)

Benefits paid and expenses

 

(264)

 

 

(1,095)

Fair value of plan assets ending balance

 

22,143 

 

 

25,688 



 

 

 

 

 

Funded status of Scheme at end of year

$

1,020 

 

$

1,720 



Schedule of Net Benefit Costs



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



Fiscal Years Ended



March 25,

 

March 26,

 

March 28,



2017

 

2016

 

2015

Expenses

$

 -

 

$

15 

 

$

16 

Interest cost

 

759 

 

 

821 

 

 

544 

Expected return on plan assets

 

(1,126)

 

 

(1,212)

 

 

(792)

Settlement (gain) loss

 

1,063 

 

 

 -

 

 

 -

Amortization of actuarial (gain) loss 

 

(89)

 

 

49 

 

 

 -



$

607 

 

$

(327)

 

$

(232)



Schedule of Assumptions



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



2017

 

2016

 

2015

 

Discount rate

 

3.60 

%

 

3.20 

%

 

4.00 

%

Expected long-term return on plan assets

 

4.93 

%

 

4.65 

%

 

5.36 

%



Schedule of Fair Value of Pension Assets



 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Quoted Prices

 

 

 

 

 

 

 

 

 



in Active

 

Significant

 

 

 

 

 

 



Markets for

 

Other

 

Significant

 

 

 



Identical

 

Observable

 

Unobservable

 

 

 



Assets

 

Inputs

 

Inputs

 

 

 



Level 1

 

Level 2

 

Level 3

 

Total

Plan Assets:

 

 

 

 

 

 

 

 

 

 

 

Cash

$

160 

 

$

 -

 

$

 -

 

$

160 

Pension funds

 

 -

 

 

21,983 

 

 

 -

 

 

21,983 



$

160 

 

$

21,983 

 

$

 -

 

$

22,143 

The table below sets forth the fair value of our plan assets as of March 26, 2016, (in thousands):





 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Quoted Prices

 

 

 

 

 

 

 

 

 



in Active

 

Significant

 

 

 

 

 

 



Markets for

 

Other

 

Significant

 

 

 



Identical

 

Observable

 

Unobservable

 

 

 



Assets

 

Inputs

 

Inputs

 

 

 



Level 1

 

Level 2

 

Level 3

 

Total

Plan Assets:

 

 

 

 

 

 

 

 

 

 

 

Cash

$

42 

 

$

 -

 

$

 -

 

$

42 

Pension funds

 

 -

 

 

25,646 

 

 

 -

 

 

25,646 



$

42 

 

$

25,646 

 

$

 -

 

$

25,688 



Schedule of Amounts Recognized in Other Comprehensive Income (Loss)



 

 



 

 



 

Fiscal Year



 

2017

Net actuarial loss

$

(79)



 

 

Accumulated other comprehensive income, before tax

$

(79)



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



 

 



 

 



 

Fiscal Year



 

2018

Transition (asset) obligation

$

 -

Prior service cost

 

 -

Actuarial loss (gain)

 

(37)



Schedule of Defined Benefit Plans Disclosures



 

 



 

Benefit



 

Payments

2018

$

266 

2019

 

411 

2020

 

481 

2021

 

472 

2022

 

415 

Thereafter

 

2,765 



Schedule of Allocation of Plan Assets



 

 

 

 

 

 



 

 

 

 

 

 



Actual Allocation



2017

 

2016

 

Equity securities

 

33 

%

 

32 

%

Corporate bonds

 

48 

 

 

47 

 

Diversified growth

 

19 

 

 

21 

 

Cash

 

 -

 

 

 -

 

Total

 

100 

%

 

100 

%



Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates



 

 



 

 

Change

 

Approximate impact on liabilities

Decrease discount rate by 0.1%, per year

 

2% increase

Increase inflation linked assumptions by 0.1%, per year

 

2% increase (of inflation-linked liabilities)

Increase life expectancy by 1 year

 

2% increase