Employee Benefit Plans (Tables)

12 Months Ended

Jan. 02, 2016

Schedule of Net Funded Status [Table Text Block]

The following table sets forth the plans’ funded status for the Company's domestic and foreign defined benefit plans and amounts recognized in the Company's consolidated balance sheets based on the measurement date (December 31, 2015 and January 3, 2015) (in thousands):



	January 2, 2016			January 3, 2015
Change in projected benefit obligation:
Projected benefit obligation at beginning of period	$	395,142		$	129,966
Acquisitions	—			199,996
Service cost	6,638			5,208
Interest cost	10,536			13,214
Employee contributions	1,862			1,946
Plan amendments	90			(1,371		)
Actuarial loss/(gain)	(24,436		)	88,592
Benefits paid	(11,197		)	(13,045		)
Effect of curtailment	(9,545		)	—
Effect of settlement	(162,600		)	—
Other	(24,214		)	(29,364		)
Projected benefit obligation at end of period	182,276			395,142

Change in plan assets:
Fair value of plan assets at beginning of period	328,220			118,898
Acquisitions	—			171,117
Actual return on plan assets	(17,888		)	67,090
Employer contributions	9,612			7,061
Employee contributions	1,862			1,946
Benefits paid	(11,197		)	(13,045		)
Effect of settlement	(162,600		)	—
Other	(20,039		)	(24,847		)
Fair value of plan assets at end of period	127,970			328,220

Funded status	(54,306		)	(66,922		)
Net amount recognized	$	(54,306	)	$	(66,922	)

Amounts recognized in the consolidated balance sheets consist of:
Noncurrent assets	$	—		$	—
Current liability	(1,086		)	(993		)
Noncurrent liability	(53,220		)	(65,929		)
Net amount recognized	$	(54,306	)	$	(66,922	)

Amounts recognized in accumulated other comprehensive loss consist of:
Net actuarial loss	$	51,921		$	59,207
Prior service cost/(credit)	359			(1,131		)
Net amount recognized (a)	$	52,280		$	58,076


(a)	Amounts do not include deferred taxes of $19.7 million and $21.3 million at January 2, 2016 and January 3, 2015, respectively.

Schedule of Accumulated and Projected Benefit Obligations [Table Text Block]



	January 2, 2016		January 3, 2015
Projected benefit obligation	$	182,276	$	395,142
Accumulated benefit obligation	171,530		376,043
Fair value of plan assets	127,970		328,220

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

Net pension cost includes the following components (in thousands):



	January 2, 2016			January 3, 2015			December 28, 2013
Service cost	$	6,638		$	5,208		$	507
Interest cost	10,536			13,214			5,307
Expected return on plan assets	(12,229		)	(14,439		)	(7,277		)
Net amortization and deferral	5,034			2,094			5,261
Curtailment	(1,181		)	7			83
Settlement	(2,353		)	—			—
Net pension cost	$	6,445		$	6,084		$	3,881

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

Amounts recognized in accumulated other comprehensive income (loss) for the year ended (in thousands):



	2015			2014
Actuarial (loss)/gain recognized:
Reclassification adjustments	$	3,115		$	1,272
Actuarial (loss)/gain recognized during the period	(2,323		)	(22,546		)
Amortization of settlement	3,823			—
Prior service (cost) credit recognized:
Reclassification adjustments	(31		)	14
Prior service cost arising during the period	—			879
Amortization of curtailment	(853		)	—
Other	471			—
	$	4,202		$	(20,381	)

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]

The estimated amount that will be amortized from accumulated other comprehensive loss into net periodic pension cost in fiscal 2016 is as follows (in thousands):



	2016
Net actuarial loss	$	4,628
Prior service cost	26
	$	4,654

Schedule of Assumptions Used [Table Text Block]

Weighted average assumptions used to determine benefit obligations were:



	January 2, 2016	January 3, 2015	December 28, 2013

Discount rate	4.13%	2.79%	4.66%
Rate of compensation increase	0.31%	1.82%	3.00%

Weighted average assumptions used to determine net periodic benefit cost for the employee benefit pension plans were:



	January 2, 2016	January 3, 2015	December 28, 2013
Discount rate	3.47%	4.15%	3.96%
Rate of increase in future compensation levels	0.38%	1.70%	—%
Expected long-term rate of return on assets	6.62%	5.06%	7.35%

Schedule of Target Allocation of Plan Assets [Table Text Block]



Fixed Income	35% - 80%
Equities	20% - 65%

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]

The following table presents fair value measurements for the Company's defined benefit plans’ assets as categorized using the fair value hierarchy under FASB authoritative guidance (in thousands):



	Total		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
(In thousands of dollars)	Fair Value		(Level 1)		(Level 2)		(Level 3)
Balances as January 3, 2015
Fixed Income:
Long Term	$	71,820	$	23,619	$	48,201	$	—
Short Term	1,419		—		1,419		—
Equity Securities:
Domestic equities	41,813		35,946		5,867		—
International equities	18,259		16,953		1,306		—
Insurance contracts	194,909		—		—		194,909
Totals	$	328,220	$	76,518	$	56,793	$	194,909

Balances as January 2, 2016
Fixed Income:
Long Term	$	51,145	$	21,079	$	30,066	$	—
Short Term	2,647		1,341		1,306		—
Equity Securities:
Domestic equities	43,757		34,864		8,893		—
International equities	22,300		21,190		1,110		—
Insurance contracts	8,121		—		5,801		2,320
Totals	$	127,970	$	78,474	$	47,176	$	2,320

Schedule of Expected Benefit Payments [Table Text Block]

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands):



Year Ending	Pension Benefits
2016	$	9,434
2017	8,381
2018	8,493
2019	9,394
2020	9,737
Years 2021 – 2025	53,893

Multiemployer plans

The following table provides more detail on these significant multiemployer plans (contributions in thousands):



											Expiration
Pension	EIN Pension	Pension Protection Act Zone Status		FIP/RP Status Pending/	Contributions						Date of Collective Bargaining
Fund	Plan Number	2015	2014	Implemented	2015		2014		2013		Agreement
Western Conference of Teamsters Pension Plan	91-6145047 / 001	Green	Green	No	$	1,387	$	1,384	$	1,254	April 2020 (b)
Central States, Southeast and Southwest Areas Pension Plan (a)	36-6044243 / 001	Red	Red	Yes	858		876		782		August 2018 (c)
All other multiemployer plans					986		1,042		1,113
		Total Company Contributions			$	3,231	$	3,302	$	3,149


(a)	In July 2005 this plan received a 10 year extension from the IRS for amortizing unfunded liabilities.


(b)	The Company has several plants that participate in the Western Conference of Teamsters Pension Plan under collective bargaining agreements that require minimum funding contributions. Certain of these agreements have expired and are being renegotiated with others having expiration dates through April 1, 2020.


(c)	The Company has several processing plants that participate in the Central States, Southeast and Southwest Areas Pension Plan under collective bargaining agreements that require minimum funding contributions. Certain of these agreements have expired and are being renegotiated with others having expiration dates through August 6, 2018.

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]

The fair value measurement of plan assets using significant unobservable inputs (level 3) changed due to the following:



	Insurance
(in thousands of dollars)	Contracts
Balance as of January 3, 2015	$	194,909
Unrealized gains/(losses) relating to instruments still held in the reporting period.	(12,601		)
Purchases, sales, and settlements	(161,402		)
Exchange rate changes	(18,586		)
Balance as of January 2, 2016	$	2,320