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PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)
 12 Months Ended
Dec. 25, 2022
Retirement Benefits [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 Consolidated Balance Sheets for these plans were as follows:
 Pension BenefitsOther Benefits
 2022202120222021
Change in projected benefit obligation(In thousands)
Projected benefit obligation, beginning of year$373,062 $404,194 $1,346 $1,593 
Interest cost6,777 5,763 23 18 
Actuarial gains(106,909)(14,535)(184)(33)
Benefits paid(12,867)(13,483)(16)— 
Curtailments and settlements(5,053)(6,714)— (232)
Currency translation gain(18,863)(2,163)— — 
Projected benefit obligation, end of year$236,147 $373,062 $1,169 $1,346 
 Pension BenefitsOther Benefits
 2022202120222021
Change in plan assets(In thousands)
Fair value of plan assets, beginning of year$326,409 $305,983 $— $— 
Actual return on plan assets(89,479)29,126 — — 
Contributions by employer9,789 14,393 16 232 
Benefits paid(12,867)(13,483)(16)— 
Curtailments and settlements(5,053)(6,714)— (232)
Expenses paid from assets (337)(425)— — 
Currency translation loss(18,329)(2,471)— — 
Fair value of plan assets, end of year$210,133 $326,409 $— $— 

 Pension BenefitsOther Benefits
 2022202120222021
Funded status(In thousands)
Unfunded benefit obligation, end of year$(26,014)$(46,653)$(1,169)$(1,346)
 Pension BenefitsOther Benefits
2022202120222021
Amounts recognized in the Consolidated Balance Sheets as of end of year(In thousands)
Current liabilities$(841)$(6,063)$(177)$(157)
Long-term liabilities(25,173)(40,590)(992)(1,189)
Recognized liabilities$(26,014)$(46,653)$(1,169)$(1,346)
Pension BenefitsOther Benefits
2022202120222021
Amounts recognized in accumulated other comprehensive loss at end of year(In thousands)
Net actuarial loss (gain)$48,121 $58,143 $(66)$118 
Schedule of Net Periodic Benefit Cost (Income) Net benefit costs include the following components:
 Pension BenefitsOther Benefits
 202220212020202220212020
 (In thousands)
Interest cost$6,777 $5,763 $8,102 $23 $18 $36 
Estimated return on plan assets(10,298)(10,562)(13,071)— — — 
Settlement loss1,591 2,313 3,371 — 21 7 
Expenses paid from assets337 425 735 — — — 
Amortization of net loss 1,364 2,257 1,503 — 2 — 
Amortization of past service cost17 19 — — — — 
Net cost (income)$(212)$215 $640 $23 $41 $43 
Schedule of Economic Assumptions, and Impact of Change in Discount Rate on Benefit Obligation
The weighted average assumptions used in determining pension and other postretirement plan information were as follows:
 Pension BenefitsOther Benefits
 202220212020202220212020
Benefit obligation
Discount rate5.04 %2.23 %1.83 %5.16 %2.38 %1.80 %
Net pension and other postretirement cost
Discount rate3.67 %2.08 %2.16 %2.38 %1.80 %2.77 %
Expected return on plan assets4.68 %3.53 %4.34 %NANANA
The sensitivity of the projected benefit obligation for pension benefits to changes in the discount rate is set out below. The impact of a change in the discount rate of 0.25% on the projected benefit obligation for other benefits is immaterial. This sensitivity analysis is based on changing one assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to variations in significant actuarial assumptions, the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as that for calculating the liability recognized in the Consolidated Balance Sheets.
Increase in Discount Rate of 0.25%Decrease in Discount Rate of 0.25%
(In thousands)
Impact on projected benefit obligation for pension benefits$(6,321)$6,655 
Schedule of Plan Asset Allocations
The following table reflects the pension plans’ actual asset allocations:
20222021
Cash and cash equivalents6 %2 %
Pooled separate accounts for the Union Plan(a):
Equity securities2 %2 %
Fixed income securities2 %2 %
Pooled separate accounts and common collective trust funds for the GK Pension Plan(a):
Equity securities23 %19 %
Fixed income securities15 %12 %
Real estate3 %1 %
Pooled separate accounts for the U.K. Plans(a):
Equity securities27 %37 %
Fixed income funds1 %19 %
Liability driven investments13 %— %
Real estate8 %6 %
Total assets100 %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 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 Assumptions of Plan Assets The fair value measurements of plan assets fell into the following levels of the fair value hierarchy as of December 25, 2022 and December 26, 2021:
20222021
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$12,072 $— $— $12,072 $6,166 $— $— $6,166 
PSAs for the Union Plan:
Large U.S. equity funds(d)
— 1,995 — 1,995 — 2,595 — 2,595 
Small/Mid U.S. equity funds(e)
— 1,055 — 1,055 — 1,338 — 1,338 
International equity funds(f)
— 1,672 — 1,672 — 1,954 — 1,954 
Fixed income funds(g)
— 3,838 — 3,838 — 5,186 — 5,186 
PSAs and CCTs for the GK Pension Plan:
Large U.S. equity funds(d)
— 23,541 — 23,541 — 31,960 — 31,960 
Small/Mid U.S. equity funds(e)
— 12,446 — 12,446 — 16,232 — 16,232 
International equity funds(f)
— 13,171 — 13,171 — 15,710 — 15,710 
Fixed income funds(g)
— 30,865 — 30,865 — 40,470 — 40,470 
Real estate(h)
— 6,458 — 6,458 — 5,405 — 5,405 
PSAs for the U.K. Plans:
Large U.S. equity funds(d)
— 23,149 — 23,149 — 47,995 — 47,995 
International equity funds(f)
— 31,767 — 31,767 — 71,883 — 71,883 
Fixed income funds(g)
— 3,081 — 3,081 — 60,914 — 60,914 
Real estate(h)
— 16,297 — 16,297 — 18,601 — 18,601 
Liability driven investments(i)
— 28,726 — 28,726 — — — — 
Total assets$12,072 $198,061 $— $210,133 $6,166 $320,243 $— $326,409 
(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.
(i)This category is comprised of investments that seek to ensure availability of funds to cover current and future liabilities. These investments are typically focused on both the assets and liabilities of the plan.
Schedule of Benefit Payments The following table reflects the benefits as of December 25, 2022 expected to be paid through 2032 from the Company’s pension and other postretirement plans. The Company’s pension plans are primarily funded plans. Therefore, anticipated benefits with respect to these plans will come primarily from the trusts established for these plans. The Company’s other postretirement plans are unfunded. Therefore, anticipated benefits with respect to these plans will come from the Company’s own assets.
Pension BenefitsOther
Benefits
 (In thousands)
2023$24,013 $177 
202415,656 166 
202515,430 154 
202615,296 142 
202715,351 130 
2028-203274,062 471 
Total$159,808 $1,240 
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:
 Pension BenefitsOther Benefits
 202220212020202220212020
 (In thousands)
Net actuarial loss, beginning of year$58,143 $95,522 $58,239 $118 $174 $91 
Amortization(1,381)(2,276)(1,503)— (2)— 
Settlement adjustments(1,591)(2,313)(3,371)— (21)(7)
Actuarial loss (gain)(106,909)(14,535)38,822 (184)(33)90 
Asset loss (gain)99,777 (18,563)400 — — — 
Net prior service cost— — 378 — — — 
Currency translation loss82 308 2,557 — — — 
Net actuarial loss (gain), end of year$48,121 $58,143 $95,522 $(66)$118 $174