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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 30, 2015
Compensation and Retirement Disclosure [Abstract]  
Schedule of pension and other defined benefit plan obligations and funded status
The obligations and funded status for the Pension Plan and other defined benefit plans were as follows:

 
Pension Plan
 
Other Defined Benefit Plans
 
December 30, 2015
 
December 31, 2014
 
December 30, 2015
 
December 31, 2014
 
(In thousands)
Change in Benefit Obligation:
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
74,208

 
$
64,391

 
$
2,713

 
$
2,716

Service cost
380

 
380

 

 

Interest cost
2,983

 
3,099

 
107

 
123

Actuarial (gains) losses
(5,780
)
 
12,313

 
43

 
298

Benefits paid
(4,056
)
 
(5,975
)
 
(194
)
 
(195
)
Settlements

 

 

 
(229
)
Benefit obligation at end of year
$
67,735

 
$
74,208

 
$
2,669

 
$
2,713

Accumulated benefit obligation
$
67,735

 
$
74,208

 
$
2,669

 
$
2,713

 
 
 
 
 
 
 
 
Change in Plan Assets:
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
$
62,820

 
$
61,094

 
$

 
$

Actual return on plan assets
(386
)
 
5,201

 

 

Employer contributions

 
2,500

 
194

 
424

Benefits paid
(4,056
)
 
(5,975
)
 
(194
)
 
(195
)
Settlements

 

 

 
(229
)
Fair value of plan assets at end of year
$
58,378

 
$
62,820

 
$

 
$

Funded status
$
(9,357
)
 
$
(11,388
)
 
$
(2,669
)
 
$
(2,713
)
Schedule of amounts recognized in the Consolidated Balance Sheets
The amounts recognized in our Consolidated Balance Sheets were as follows:

 
Pension Plan
 
Other Defined Benefit Plans
 
December 30, 2015
 
December 31, 2014
 
December 30, 2015
 
December 31, 2014
 
(In thousands)
Other current liabilities 
$
(9,357
)
 
$

 
$
(291
)
 
$
(224
)
Other noncurrent liabilities and deferred credits

 
(11,388
)
 
(2,378
)
 
(2,489
)
Net amount recognized 
$
(9,357
)
 
$
(11,388
)
 
$
(2,669
)
 
$
(2,713
)
Schedule of net periodic benefit cost not yet recognized
The amounts recognized in accumulated other comprehensive income, that have not yet been recognized as a component of net periodic benefit cost, were as follows:
 
Pension Plan
 
Other Defined Benefit Plans
 
December 30, 2015
 
December 31, 2014
 
December 30, 2015
 
December 31, 2014
 
(In thousands)
Unamortized actuarial losses, net
$
(23,955
)
 
(27,574
)
 
(1,045
)
 
(1,081
)
Components of the change in accumulated other comprehensive loss
 
The components of the change in unamortized actuarial losses, net, included in accumulated other comprehensive loss were as follows:
 
 
Fiscal Year Ended
 
December 30, 2015
 
December 31, 2014
 
(In thousands)
Pension Plan:
 
 
 
Balance, beginning of year
$
(27,574
)
 
$
(17,433
)
Benefit obligation actuarial gain (loss)
5,780

 
(12,313
)
Net (loss) gain
(3,894
)
 
1,248

Amortization of net loss
1,733

 
924

Balance, end of year
$
(23,955
)
 
$
(27,574
)
 
 
 
 
Other Defined Benefit Plans:
 
 
 
Balance, beginning of year
$
(1,081
)
 
$
(899
)
Benefit obligation actuarial loss
(43
)
 
(298
)
Amortization of net loss
79

 
66

Settlement loss recognized

 
50

Balance, end of year
$
(1,045
)
 
$
(1,081
)
Components of net periodic benefit cost
The components of net periodic benefit cost were as follows:
 
 
Fiscal Year Ended
 
December 30, 2015
 
December 31, 2014
 
December 25, 2013
 
(In thousands)
Pension Plan:
 
 
 
 
 
Service cost
$
380

 
$
380

 
$
400

Interest cost
2,983

 
3,099

 
2,977

Expected return on plan assets
(3,508
)
 
(3,953
)
 
(4,488
)
Amortization of net loss
1,733

 
924

 
1,653

Net periodic benefit cost
$
1,588

 
$
450

 
$
542

Other comprehensive (income) loss
$
(3,619
)
 
$
10,141

 
$
(10,364
)
 
 
 
 
 
 
Other Defined Benefit Plans:
 
 
 
 
 
Interest cost
$
107

 
$
123

 
$
111

Amortization of net loss
79

 
66

 
71

Settlement loss recognized

 
50

 

Net periodic benefit cost
$
186

 
$
239

 
$
182

Other comprehensive (income) loss
$
(36
)
 
$
182

 
$
(109
)
Schedule of assumptions used to determine benefit obligations
 
December 30, 2015
 
December 31, 2014
 
December 25, 2013
Assumptions used to determine benefit obligations:
 
 
 
 
 
Pension Plan:
 
 
 
 
 
Discount rate
1.34
%
 
4.12
%
 
 
Other Defined Benefit Plans:
 
 
 
 
 
Discount rate
3.62
%
 
4.12
%
 
 
 
 
 
 
 
 
Assumptions used to determine net periodic pension cost:
 
 
 
 
 
Discount rate
4.12
%
 
4.98
%
 
4.18
%
Rate of increase in compensation levels
N/A

 
N/A

 
N/A

Expected long-term rate of return on assets
5.75
%
 
6.50
%
 
7.75
%
Schedule of fair values of pension plan assets
The fair values of the Pension Plan assets were as follows:

 
 
Fair Value Measurements as of December 30, 2015
Asset Category
 
Total
 
Quoted Prices in Active Markets for Identical Assets/Liabilities
(Level 1)
 
Significant Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
 
 
(In thousands)
Cash equivalents 
 
$
1,777

 
$
1,777

 
$

 
$

Fixed income securities:
 
 
 
 
 
 
 
 
U.S. Treasuries
 
3,500

 
3,500

 

 

Corporate bonds (a)
 
53,101

 
53,101

 

 

Total
 
$
58,378

 
$
58,378

 
$

 
$



(a)
This category includes intermediate and long-term investment grade bonds from diverse industries.

 
 
Fair Value Measurements as of December 31, 2014
Asset Category
 
Total
 
Quoted Prices in Active Markets for Identical Assets/Liabilities
(Level 1)
 
Significant Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
 
 
(In thousands)
Cash equivalents 
 
$
1,812

 
$
1,812

 
$

 
$

Equity securities:
 
 
 
 
 
 
 
 
U.S. large-cap (a)
 
7,154

 
7,154

 

 

U.S. mid-cap (b)
 
2,182

 
2,182

 

 

U.S. small-cap (c)
 
506

 
506

 

 

International large-cap
 
4,185

 
4,185

 

 

Fixed income securities:
 
 
 
 
 
 
 
 
U.S. Treasuries
 
5,202

 
5,202

 

 

Corporate bonds (d)
 
40,226

 
40,226

 

 

Other types of investments:
 
 
 
 
 
 
 
 
Commingled funds (e)
 
1,553

 

 
1,553

 

Total
 
$
62,820

 
$
61,267

 
$
1,553

 
$


(a)
The majority of this category represents a fund with the objective of approximating the return of the S&P 500 Index. The remaining securities include both a large-value fund and a large-growth fund investing in diverse industries.
(b)
This category includes both a mid-growth fund with the objective of outperforming the Russell Mid Cap Growth Index and a mid-value fund investing in diverse industries.
(c)
This category includes both a small-value fund and a small-growth fund investing in diverse industries.
(d)
This category includes intermediate and long-term investment grade bonds from diverse industries.
(e)
This category represents a fund of well diversified mutual funds with the objective of providing a low-volatility means to access equity-like returns.
Schedule of expected benefit payments

Taking into consideration the termination and planned liquidation of the Pension Plan, benefits expected to be paid for each of the next five years and in the aggregate for the five fiscal years from 2021 through 2025 are as follows:
 
 
Pension Plan
 
Other Defined
Benefit Plans
 
(In thousands)
2016
$
67,735

 
$
291

2017

 
241

2018

 
244

2019

 
430

2020

 
230

2021 through 2025

 
1,097