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Postretirement Benefits (Notes)
 12 Months Ended
Dec. 28, 2014
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]  
Pension and Other Postretirement Benefits Disclosure [Text Block]
Postretirement Benefits
The Company sponsors a postretirement medical and life insurance plan covering substantially all Burger King administrative and restaurant management personnel who retire or terminate after qualifying for such benefits.
The following was the plan status and accumulated postretirement benefit obligation (APBO) at December 28, 2014 and December 29, 2013:
 
 
December 28, 2014
 
December 29, 2013
Change in benefit obligation:
 
 
 
Benefit obligation at beginning of year
$
2,370

 
$
2,622

Service cost
85

 
89

Interest cost
92

 
91

Plan participants' contributions
89

 
77

Actuarial loss (gain)
808

 
(285
)
Benefits paid
(342
)
 
(249
)
Medicare part D prescription drug subsidy
19

 
25

Benefit obligation at end of year
$
3,121

 
$
2,370

Change in plan assets:
 

 
 

Fair value of plan assets at beginning of year
$
—

 
$
—

Employer contributions
234

 
147

Plan participants' contributions
89

 
77

Benefits paid
(342
)
 
(249
)
Medicare part D prescription drug subsidy
19

 
25

Fair value of plan assets at end of year
—

 
—

Funded status
$
(3,121
)
 
$
(2,370
)
Weighted average assumptions:
 

 
 

Discount rate used to determine benefit obligations
3.83
%
 
4.48
%
Discount rate used to determine net periodic benefit cost
4.48
%
 
3.64
%

The discount rate is determined based on high-quality fixed income investments that match the duration of expected retiree medical and life insurance benefits. The Company has typically used the corporate AA/Aa bond rate for this assumption. The actuarial loss in 2014 was due primarily to the Company utilizing an updated mortality table as well as increased medical and prescription drug cost trend rates.
Components of net periodic postretirement benefit income recognized in the consolidated statements of operations were:
 
Year ended
 
December 28, 2014
 
December 29, 2013
 
December 30, 2012
Service cost
$
85

 
$
89

 
$
60

Interest cost
92

 
91

 
106

Amortization of net gains and losses
104

 
135

 
134

Amortization of prior service credit
(355
)
 
(357
)
 
(359
)
Net periodic postretirement benefit income
$
(74
)
 
$
(42
)
 
$
(59
)

Amounts recognized in accumulated other comprehensive income that have not yet been recognized as components of net periodic benefit income, consisted of:
 
Year ended
 
December 28, 2014
 
December 29, 2013
Prior service credit
$
2,682

 
$
3,037

Net loss
(2,595
)
 
(1,891
)
Deferred income taxes
(444
)
 
(444
)
Accumulated other comprehensive income
$
(357
)
 
$
702


The estimated net loss that will be amortized from accumulated other comprehensive income into net periodic postretirement benefit income over the next fiscal year is $160. The amount of prior service credit for the postretirement benefit plan that will be amortized from accumulated other comprehensive income into net periodic postretirement benefit income over the next fiscal year is $355.
The following table reflects the changes in accumulated other comprehensive income for the years ended December 28, 2014 and December 29, 2013:  
 
Year ended
 
December 28, 2014
 
December 29, 2013
Net actuarial loss (gain)
$
808

 
$
(285
)
Amortization of net loss
(104
)
 
(135
)
Amortization of prior service credit
355

 
357

Deferred income taxes
—

 
30

Total recognized in accumulated other comprehensive loss
$
1,059

 
$
(33
)

Assumed health care cost trend rates at year end were as follows:      
 
December 28, 2014
 
December 29, 2013
 
December 30, 2012
Medical benefits cost trend rate assumed for the following year pre-65
8.00
%
 
7.50
%
 
8.00
%
Medical benefits cost trend rate assumed for the following year post-65
7.00
%
 
5.88
%
 
6.00
%
Prescription drug benefit cost trend rate assumed for the following year
9.00
%
 
6.75
%
 
7.00
%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)
3.89
%
 
5.00
%
 
5.00
%
Year that the rate reaches the ultimate trend rate
2075

 
2021

 
2021


The assumed healthcare cost trend rate represents the Company's estimate of the annual rates of change in the costs of the healthcare benefits currently provided by the Company's postretirement plan. The healthcare cost trend rate implicitly considers estimates of healthcare inflation, changes in healthcare utilization and delivery patterns, technological advances and changes in the health status of the plan participants. Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. A one-percentage-point change in the health care cost trend rates would have the following effects:  
 
1% Point Increase
 
1% Point Decrease
Effect on total of service and interest cost components
$
44

 
$
31

Effect on postretirement benefit obligation
568

 
426


During 2015, the Company expects to contribute approximately $124 to its postretirement benefit plan. The benefits, net of Medicare Part D subsidy receipts, expected to be paid in each year from 2015 through 2019 are $124, $97, $125, $155 and $159 respectively, and for the years 2020-2024 the aggregate amount is $912.