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PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)
 6 Months Ended
Jun. 30, 2019
Defined Benefit Plan [Abstract]  
Schedule of Defined Benefit Plan Obligations and Assets
The change in benefit obligation, change in fair value of plan assets, funded status and amounts recognized in the Condensed Consolidated Balance Sheets for the defined benefit plans were as follows:
 
Twenty-Six Weeks Ended 
 June 30, 2019
 
Twenty-Six Weeks Ended 
 July 1, 2018
 
Pension Benefits
 
Other Benefits
 
Pension Benefits
 
Other Benefits
Change in projected benefit obligation:
(In thousands)
Projected benefit obligation, beginning of period
$
157,619

 
$
1,462

 
$
178,247

 
$
1,603

Interest cost
2,934

 
26

 
2,731

 
23

Actuarial losses (gains)
13,734

 
96

 
(9,465
)
 
(62
)
Benefits paid
(3,020
)
 
(74
)
 
(4,473
)
 
(74
)
Curtailments and settlements
(5,718
)
 
—

 
—

 
—

          Projected benefit obligation, end of period
$
165,549

 
$
1,510

 
$
167,040

 
$
1,490

 
Twenty-Six Weeks Ended 
 June 30, 2019
 
Twenty-Six Weeks Ended 
 July 1, 2018
 
Pension Benefits
 
Other Benefits
 
Pension Benefits
 
Other Benefits
Change in plan assets:
(In thousands)
Fair value of plan assets, beginning of period
$
102,414

 
$
—

 
$
112,570

 
$
—

Actual return on plan assets
12,504

 
—

 
97

 
—

Contributions by employer
3,924

 
74

 
5,581

 
74

Benefits paid
(3,020
)
 
(74
)
 
(4,473
)
 
(74
)
Curtailments and settlements
(5,718
)
 
—

 
—

 
—

          Fair value of plan assets, end of period
$
110,104

 
$
—

 
$
113,775

 
$
—

 
June 30, 2019
 
December 30, 2018
 
Pension Benefits
 
Other Benefits
 
Pension Benefits
 
Other Benefits
Funded status:
(In thousands)
Unfunded benefit obligation, end of period
$
(55,445
)
 
$
(1,510
)
 
$
(55,205
)
 
$
(1,462
)
 
June 30, 2019
 
December 30, 2018
 
Pension Benefits
 
Other Benefits
 
Pension Benefits
 
Other Benefits
Amounts recognized in the Condensed Consolidated Balance Sheets at end of period:
(In thousands)
Current liability
$
(8,239
)
 
$
(148
)
 
$
(8,267
)
 
$
(149
)
Long-term liability
(47,206
)
 
(1,362
)
 
(46,938
)
 
(1,313
)
          Recognized liability
$
(55,445
)
 
$
(1,510
)
 
$
(55,205
)
 
$
(1,462
)
 
June 30, 2019
 
December 30, 2018
 
Pension Benefits
 
Other Benefits
 
Pension Benefits
 
Other Benefits
Amounts recognized in accumulated other
   comprehensive loss at end of period:
(In thousands)
Net actuarial loss (gain)
$
55,685

 
$
62

 
$
54,343

 
$
(34
)
Schedule of Net Defined Benefit Pension and Other Postretirement Costs
Net defined benefit pension and other postretirement costs included the following components:
 
Thirteen Weeks Ended June 30, 2019
 
Thirteen Weeks Ended July 1, 2018
 
Twenty-Six Weeks Ended June 30, 2019
 
Twenty-Six Weeks Ended July 1, 2018
 
Pension Benefits
 
Other Benefits
 
Pension Benefits
 
Other Benefits
 
Pension Benefits
 
Other Benefits
 
Pension Benefits
 
Other Benefits
 
(In thousands)
Interest cost
$
1,467

 
$
13

 
$
1,365

 
$
11

 
$
2,934

 
$
26

 
$
2,731

 
$
23

Estimated return on plan assets
(1,349
)
 
—

 
(1,516
)
 
—

 
(2,698
)
 
—

 
(3,033
)
 
—

Settlement loss
1,930

 
—

 
—

 
—

 
1,930

 
—

 
—

 
—

Amortization of net loss
328

 
—

 
301

 
—

 
656

 
—

 
602

 
—

          Net costs
$
2,376

 
$
13

 
$
150

 
$
11

 
$
2,822

 
$
26

 
$
300

 
$
23
Schedule of Economic Assumptions, and Impact of Change in Discount Rate on Benefit Obligation
The weighted average assumptions used in determining pension and other postretirement plan information were as follows:
 
June 30, 2019
 
December 30, 2018
 
Pension Benefits
 
Other Benefits
 
Pension Benefits
 
Other Benefits
Assumptions used to measure benefit obligation at end
   of period:
 
 
 
 
 
 
 
Discount rate
3.60
%
 
3.15
%
 
4.40
%
 
4.07
%
 
Twenty-Six Weeks Ended 
 June 30, 2019
 
Twenty-Six Weeks Ended 
 July 1, 2018
 
Pension Benefits
 
Other Benefits
 
Pension Benefits
 
Other Benefits
Assumptions used to measure net pension and other
   postretirement cost:
 
 
 
 
 
 
 
Discount rate
4.40
%
 
4.07
%
 
3.69
%
 
3.39
%
Expected return on plan assets
5.50
%
 
NA

 
5.50
%
 
NA


The sensitivity of the projected benefit obligation for pension benefits to changes in the discount rate is set out below. The impact of a change in the discount rate of 0.25% on the projected benefit obligation for other benefits is less than $1,000. This sensitivity analysis is based on changing one assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to variations in significant actuarial assumptions, the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as for calculating the liability recognized in the Condensed Consolidated Balance Sheets.
 
Increase in Discount Rate of 0.25%
 
Decrease in Discount Rate of 0.25%
 
(In thousands)
Impact on projected benefit obligation for pension benefits
$
(4,122
)
 
$
4,329
Schedule of Plan Asset Allocations
The following table reflects the pension plans’ actual asset allocations:
 
June 30, 2019
 
December 30, 2018
Cash and cash equivalents
1
%
 
—
%
Interest income receivable
—
%
 
—
%
Pooled separate accounts(a):
 
 
 
Equity securities
5
%
 
4
%
Fixed income securities
4
%
 
5
%
Common collective trust funds(a):
 
 
 
Equity securities
45
%
 
45
%
Fixed income securities
40
%
 
41
%
Real estate
5
%
 
5
%
Total assets
100
%
 
100
%
(a)
Pooled separate accounts (“PSAs”) and common collective trust funds (“CCTs”) are two of the most common types of alternative vehicles in which benefit plans invest. These investments are pooled funds that look like mutual funds, but they are not registered with the SEC. Often times, they will be invested in mutual funds, real estate trusts or other marketable securities, but the unit price generally will be different from the value of the underlying securities because the fund may also hold cash for liquidity purposes, and the fees imposed by the fund are deducted from the fund value rather than charged separately to investors. Some PSAs and CCTs have no restrictions as to their investment strategy and can invest in riskier investments, such as derivatives, hedge funds, private equity funds, or similar investments.
Schedule of Fair Value Measurements of Plan Assets
The fair value measurements of plan assets fell into the following levels of the fair value hierarchy as of June 30, 2019 and December 30, 2018:
 
June 30, 2019
 
December 30, 2018
 
Level 1(a)
 
Level 2(b)
 
Level 3(c)
 
Total
 
Level 1(a)
 
Level 2(b)
 
Level 3(c)
 
Total
 
(In thousands)
Cash and cash equivalents
$
966

 
$
—

 
$
—

 
$
966

 
$
110

 
$
—

 
$
—

 
$
110

Interest income receivable
1

 
—

 
—

 
1

 
—

 
—

 
—

 
—

Pooled separate accounts:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Large U.S. equity funds(d)
—

 
3,036

 
—

 
3,036

 
—

 
2,491

 
—

 
2,491

Small/Mid U.S. equity funds(e)
—

 
364

 
—

 
364

 
—

 
292

 
—

 
292

International equity funds(f)
—

 
1,730

 
—

 
1,730

 
—

 
1,489

 
—

 
1,489

Fixed income funds(g)
—

 
4,670

 
—

 
4,670

 
—

 
4,763

 
—

 
4,763

Common collective trusts funds:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Large U.S. equity funds(d)
—

 
20,013

 
—

 
20,013

 
—

 
17,351

 
—

 
17,351

Small U.S. equity funds(e)
—

 
6,475

 
—

 
6,475

 
—

 
5,880

 
—

 
5,880

International equity funds(f)
—

 
23,376

 
—

 
23,376

 
—

 
22,516

 
—

 
22,516

Fixed income funds(g)
—

 
44,003

 
—

 
44,003

 
—

 
42,217

 
—

 
42,217

Real estate(h)
—

 
5,470

 
—

 
5,470

 
—

 
5,305

 
—

 
5,305

          Total assets
$
967

 
$
109,137

 
$
—

 
$
110,104

 
$
110

 
$
102,304

 
$
—

 
$
102,414

(a)
Unadjusted quoted prices in active markets for identical assets are used to determine fair value.
(b)
Quoted prices in active markets for similar assets and inputs that are observable for the asset are used to determine fair value.
(c)
Unobservable inputs, such as discounted cash flow models or valuations, are used to determine fair value.
(d)
This category is comprised of investment options that invest in stocks, or shares of ownership, in large, well-established U.S. companies. These investment options typically carry more risk than fixed income options but have the potential for higher returns over longer time periods.
(e)
This category is generally comprised of investment options that invest in stocks, or shares of ownership, in small to medium-sized U.S. companies. These investment options typically carry more risk than larger U.S. equity investment options but have the potential for higher returns.
(f)
This category is comprised of investment options that invest in stocks, or shares of ownership, in companies with their principal place of business or office outside of the U.S.
(g)
This category is comprised of investment options that invest in bonds, or debt of a company or government entity (including U.S. and non-U.S. entities). These investment options typically carry more risk than short-term fixed income investment options, but less overall risk than equities.
(h)
This category is comprised of investment options that invest in real estate investment trusts or private equity pools that own real estate. These long-term investments are primarily in office buildings, industrial parks, apartments or retail complexes. These investment options typically carry more risk, including liquidity risk, than fixed income investment options.
Schedule of Benefit Payments
The following table reflects the benefits as of June 30, 2019 expected to be paid through 2028 from the Company's pension and other postretirement plans. Because its pension plans are primarily funded plans, the anticipated benefits with respect to these plans will come primarily from the trusts established for these plans. Because the Company's other postretirement plans are unfunded, the anticipated benefits with respect to these plans will come from its own assets.
 
Pension Benefits
 
Other Benefits
 
(In thousands)
2019 (remaining)
$
8,986

 
$
74

2020
11,526

 
147

2021
11,200

 
145

2022
10,891

 
141

2023
10,627

 
137

2024-2028
48,429

 
589

     Total
$
101,659

 
$
1,233
Schedule of Unrecognized Benefit Amounts
The amounts in accumulated other comprehensive loss that were not recognized as components of net periodic benefits cost and the changes in those amounts are as follows:
 
Twenty-Six Weeks Ended 
 June 30, 2019
 
Twenty-Six Weeks Ended 
 July 1, 2018
 
Pension Benefits
 
Other Benefits
 
Pension Benefits
 
Other Benefits
 
(In thousands)
Net actuarial loss (gain), beginning of period
$
54,343

 
$
(34
)
 
$
54,235

 
$
35

Amortization
(656
)
 
—

 
(602
)
 
—

Curtailment and settlement adjustments
(1,930
)
 
—

 
—

 
—

Actuarial loss (gain)
13,734

 
96

 
(9,465
)
 
(62
)
Asset loss (gain)
(9,806
)
 
—

 
2,936

 
—

     Net actuarial loss (gain), end of period
$
55,685

 
$
62

 
$
47,104

 
$
(27
)