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Retirement and Post Retirement Health Care Plans (Tables)
 12 Months Ended
Dec. 28, 2019
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]  
Schedule Of Defined Benefit Pension Assets Investment
The Company's target allocation, target return and actual weighted-average asset allocation by asset category are as follows:
 
Target
 
Actual Allocation
 
Allocation
 
Return
 
2019
 
2018
Equity Investments
73.0%
 
6.6 - 8.0%
 
70.0%
 
67.5%
Fixed Income
22.0%
 
2.7 - 5.5%
 
25.0%
 
27.4%
Other
5.0%
 
5.2%
 
5.0%
 
5.1%
Total
100.0%
 
7.0%
 
100.0%
 
100.0%
Schedule Of Reconciliation Of Funded Status Of The Defined Benefit Plans
The following table presents a reconciliation of the funded status of the defined benefit pension plans (in millions):
 
2019
 
2018
Change in Projected Benefit Obligation:
 
 
 
Obligation at Beginning of Period
$
265.1

 
$
278.0

Service Cost
6.2

 
7.3

Interest Cost
10.6

 
9.3

Actuarial (Gain) Loss
34.9

 
(14.9
)
Curtailment Gain (1)
(19.4
)
 
—

Less: Benefits Paid
14.8

 
13.3

Foreign Currency Translation
0.2

 
(1.3
)
Obligation at End of Period
$
282.8

 
$
265.1

Change in Fair Value of Plan Assets:
 
 
 
Fair Value of Plan Assets at Beginning of Period
174.0

 
185.3

Actual Return on Plan Assets
33.1

 
(8.2
)
Employer Contributions
10.8

 
10.9

Less: Benefits Paid
14.8

 
13.3

Foreign Currency Translation
0.3

 
(0.7
)
Fair Value of Plan Assets at End of Period
$
203.4

 
$
174.0

Funded Status
$
(79.4
)
 
$
(91.1
)
 (1) The curtailment gain is the result of a plan freeze announced to associates during the fourth quarter of fiscal 2019.
 
 

The following table presents a reconciliation of the accumulated benefit obligation of the post retirement health care plan (in millions):
Change in Accumulated Post Retirement Benefit Obligation
 
2019
 
2018
Obligation at Beginning of Period
 
$
9.2

 
$
12.1

Service Cost
 
—

 
0.1

Interest Cost
 
0.3

 
0.4

Actuarial Gain
 
(0.7
)
 
(2.8
)
Amendments
 
(1.9
)
 
—

Curtailment Gain
 
(0.5
)
 
—

Participant Contributions
 
0.2

 
0.4

Less: Benefits Paid
 
0.7

 
1.0

Obligation at End of Period
 
$
5.9

 
$
9.2
Schedule Of Fair Value Of Plan Assets
The following table sets forth additional disclosures for the fair value measurement of the fair value of pension plan assets that calculate fair value based on NAV per share practical expedient as of December 28, 2019 and December 29, 2018 (in millions):
 
2019
 
2018
Common Collective Trust Funds
$
72.1

 
$
61.7

Global Emerging Markets Fund Limited Partnership
—

 
7.4

Total
$
72.1

 
$
69.1



Pension assets by type and level are as follows (in millions):
 
December 28, 2019
 
Total
 
Level 1
 
Level 2
 
Level 3
Cash and Cash Equivalents
$
5.1

 
$
5.1

 
$
—

 
$
—

Common Stocks:
 
 
 
 
 
 
 
Domestic Equities
26.4

 
26.4

 
—

 
—

International Equities
19.2

 
19.2

 
—

 
—

Mutual Funds:
 
 
 
 
 
 
 
US Equity Funds
30.1

 
30.1

 
—

 
—

International Equity Funds
3.1

 
3.1

 
—

 
—

Balanced Funds
9.5

 
9.5

 
—

 
—

Fixed Income Funds
18.0

 
18.0

 
—

 
—

Other
1.7

 
1.7

 
—

 
—

Limited Liability Company
8.3

 
—

 
8.3

 
—

Real Estate Fund
9.9

 
—

 
—

 
9.9


$
131.3

 
$
113.1

 
$
8.3

 
$
9.9

Investments Measured at Net Asset Value
72.1

 
 
 
 
 
 
Total
$
203.4

 
 
 
 
 
 

 
December 29, 2018
 
Total
 
Level 1
 
Level 2
 
Level 3
Cash and Cash Equivalents
$
3.9

 
$
3.9

 
$
—

 
$
—

Common Stocks:
 
 
 
 
 
 
 
Domestic Equities
22.4

 
22.4

 
—

 
—

International Equities
13.7

 
13.7

 
—

 
—

Mutual Funds:
 
 
 
 
 
 
 
US Equity Funds
24.8

 
24.8

 
—

 
—

International Equity Funds
2.5

 
2.5

 
—

 
—

Balanced Funds
8.5

 
8.5

 
—

 
—

   Fixed Income Funds
17.3

 
17.3

 
—

 
—

   Other
1.5

 
1.5

 
—

 
—

Real Estate Fund
10.3

 
—

 
—

 
10.3


$
104.9

 
$
94.6

 
$
—

 
$
10.3

Investments Measured at Net Asset Value
69.1

 
 
 
 
 
 
Total
$
174.0

 
 
 
 
 
 
Schedule of Level Three Defined Benefit Plan Assets The table below sets forth a summary of changes in the Company's Level 3 assets in its pension plan investments as of December 28, 2019 and December 29, 2018 (in millions):
 
 
2019
 
2018
Beginning Balance
 
$
10.3

 
$
9.6

Net Purchases (Sales)
 
(1.6
)
 
0.6

Net Gains
 
1.2

 
0.1

Ending Balance
 
$
9.9

 
$
10.3


The following table sets forth a summary of quantitative information about the significant unobservable inputs used in the fair value measurement of the Level 3 real estate fund as of December 28, 2019 (in millions):
Fair Value
 
Significant Unobservable Inputs
$9.9
 
Exit Capitalization Rate
5.0% to 7.0%
 
 
Discount Rate
6.5% to 8.0%
The following table sets forth a summary of quantitative information about the significant unobservable inputs used in the fair value measurement of the Level 3 real estate fund as of December 29, 2018 (in millions):
Fair Value
 
Significant Unobservable Inputs
$10.3
 
Exit Capitalization Rate
4.9% to 7.0%
 
 
Discount Rate
6.6% to 7.8%
Schedule Of Amounts Recognized in Balance Sheet of Defined Benefit Plans
The Company recognized the funded status of its defined benefit pension plans on the Consolidated Balance Sheets as follows (in millions):
 
 
2019
 
2018
Accrued Compensation and Benefits
 
$
4.0

 
$
3.4

Pension and Other Post Retirement Benefits
 
75.4

 
87.7

Total
 
$
79.4

 
$
91.1

 
 
 
 
 
Amounts Recognized in Accumulated Other Comprehensive Loss
 
 
 
 
Net Actuarial Loss
 
$
45.2

 
$
52.3

Prior Service Cost
 
1.1

 
1.4

Total
 
$
46.3

 
$
53.7


The Company recognized the funded status of its post retirement health care plan on the balance sheet as follows (in millions):


2019

2018
Accrued Compensation and Benefits

$
0.5

 
$
0.7

Pension and Other Post Retirement Benefits

5.4

 
8.5

Total

$
5.9

 
$
9.2

Amounts Recognized in Accumulated Other Comprehensive Loss



 


Net Actuarial Gain

$
(4.1
)
 
$
(3.7
)
Prior Service Cost
 
(1.7
)
 
—

Total
 
$
(5.8
)
 
$
(3.7
)
Schedule Of Weighted-Average Assumptions Used To Determine Projected Benefit Obligation
The following weighted average assumptions were used to determine the projected benefit obligation as of December 28, 2019 and December 29, 2018, respectively:
 
2019
 
2018
Discount Rate
3.3%
 
4.4%
Schedule Of Net Periodic Pension Benefit Costs For The Defined Benefit Plans
Net periodic post retirement health care benefit costs for the post retirement health care plan were as follows (in millions):


2019

2018
 
2017
Service Cost

$
—

 
$
0.1

 
$
0.1

Interest Cost

0.3

 
0.4

 
0.4

Amortization of Net Actuarial Gain

(0.4
)
 
—

 
—

Amortization of Prior Service Cost
 
(0.1
)
 
—

 
—

Curtailment Gain
 
(0.5
)
 
—

 
—

Net Periodic Post Retirement Health Care Benefit Cost
 
$
(0.7
)
 
$
0.5

 
$
0.5

 
 
 
 
 
 
 
Change in Obligations Recognized in OCI, Net of Tax
 
 
 
 
 
 
    Prior Service Cost
 
$
(0.1
)
 
$
—

 
$
—

    Net Actuarial Gain
 
(0.3
)
 
—

 
—

Total Recognized in OCI
 
$
(0.4
)
 
$
—

 
$
—


Net periodic pension benefit costs and the net actuarial loss and prior service cost recognized in OCI for the defined benefit pension plans were as follows (in millions):
 
 
2019
 
2018
 
2017
Service Cost
 
$
6.2

 
$
7.3

 
$
7.2

Interest Cost
 
10.6

 
9.3

 
9.3

Expected Return on Plan Assets
 
(12.5
)
 
(11.9
)
 
(11.2
)
Amortization of Net Actuarial Loss
 
2.2

 
3.5

 
2.3

Amortization of Prior Service Cost
 
0.3

 
0.2

 
0.2

Net Periodic Benefit Cost
 
$
6.8

 
$
8.4

 
$
7.8

 
 
 
 
 
 
 
Change in Obligations Recognized in OCI, Net of Tax
 
 
 
 
 
 
    Prior Service Cost
 
$
0.2

 
$
0.2

 
$
0.1

    Net Actuarial Loss
 
1.7

 
2.7

 
1.5

Total Recognized in OCI
 
$
1.9

 
$
2.9

 
$
1.6
Schedule Of Assumptions Used To Determine Net Periodic Pension Cost
The following assumptions were used to determine net periodic post retirement health care benefit cost for fiscal years 2019, 2018 and 2017, respectively.
 
 
2019
 
2018
 
2017
Discount Rate
 
4.2%
 
3.5%
 
3.9%

The following weighted average assumptions were used to determine net periodic pension cost for fiscal years 2019, 2018 and 2017, respectively.
 
 
2019
 
2018
 
2017
Discount Rate
 
4.4%
 
3.8%
 
4.3%
Expected Long-Term Rate of Return on Assets
 
7.0%
 
6.9%
 
7.0%

The following assumptions were used to determine the accumulated post retirement benefit obligation as of December 28, 2019 and December 29, 2018, respectively.
 
 
2019
 
2018
Discount Rate
 
3.2%
 
4.2%
Schedule Of Pension Benefit Payments Expected Future Service
The following post retirement benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in millions):
Year
 
Expected Payments
2020
 
$
0.5

2021
 
0.5

2022
 
0.5

2023
 
0.4

2024
 
0.4

2025-2028
 
1.7


The following pension benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in millions):
Year
 
Expected Payments
2020
 
$
16.5

2021
 
16.1

2022
 
15.9

2023
 
16.7

2024
 
16.7

2025-2028
 
82.8