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Retirement Plans (Tables)
 12 Months Ended
Dec. 29, 2012
Compensation and Retirement Disclosure [Abstract]  
Pension and Other Post Retirement Benefit Plans [Table Text Block]
 
Schedule of Changes in Projected Benefit Obligations [Table Text Block]
The following table provides a reconciliation of the Company’s benefit obligation:
 
Pensions
 
SERPs
 
OPEBs
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
Benefit obligation at beginning of year
$
328,523

 
$
280,275

 
$
19,538

 
$
18,881

 
$
2,551

 
$
2,801

Service cost                                                     
1,932

 
1,382

 
—

 
—

 
—

 
—

Interest cost                                                     
13,657

 
14,299

 
786

 
940

 
103

 
138

Actuarial (gain) loss                                                     
23,733

 
47,115

 
1,398

 
1,773

 
(24
)
 
(219
)
Benefits paid                                                     
(15,836
)
 
(15,160
)
 
(2,119
)
 
(2,056
)
 
(151
)
 
(169
)
Prior service cost due to acquisition                  
—

 
612

 
—

 
—

 
—

 
—

Benefit obligation at end of year
$
352,009

 
$
328,523

 
$
19,603

 
$
19,538

 
$
2,479

 
$
2,551
Schedule of Changes in Fair Value of Plan Assets [Table Text Block]
The following table provides a reconciliation of the Company’s fair value of plan assets:
 
Pensions
 
SERPs
 
OPEBs
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
Fair value of plan assets at beginning of year
$
210,577

 
$
202,839

 
$
—

 
$
—

 
$
—

 
$
—

Actual return on plan assets
21,198

 
3,735

 
—

 
—

 
—

 
—

Employer contributions                                                     
15,958

 
19,163

 
2,119

 
2,056

 
151

 
169

Benefits paid                                                     
(15,836
)
 
(15,160
)
 
(2,119
)
 
(2,056
)
 
(151
)
 
(169
)
Fair value of plan assets at end of year
231,897

 
210,577

 
—

 
—

 
—

 
—
Schedule of Net Funded Status [Table Text Block]
The following table shows the funded status at the end of the year:
 
Pensions
 
SERPs
 
OPEBs
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
Funded status at end of year
$
(120,112
)
 
$
(117,946
)
 
$
(19,603
)
 
$
(19,538
)
 
$
(2,479
)
 
$
(2,551
)
Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block]
The following table shows amounts recognized in accumulated other comprehensive loss:
 
Pensions
 
SERPs
 
OPEBs
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
Net actuarial loss                                                     
$
110,682

 
$
97,567

 
$
4,766

 
$
3,502

 
$
(200
)
 
$
(181
)
Prior service cost                                                     
—

 
—

 
—

 
—

 
(23
)
 
(29
)
Total                                               
$
110,682

 
$
97,567

 
$
4,766

 
$
3,502

 
$
(223
)
 
$
(210
)
Schedule of Amounts Recognized in Balance Sheet [Table Text Block]
The following table shows amounts recognized in the consolidated balance sheets:
 
Pensions
 
SERPs
 
OPEBs
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
Other current liabilities                                                     
$
—

 
$
—

 
$
2,135

 
$
2,059

 
$
262

 
$
267

Other liabilities                                                     
120,112

 
117,946

 
17,468

 
17,479

 
2,217

 
2,284

Total liabilities                                                           
$
120,112

 
$
117,946

 
$
19,603

 
$
19,538

 
$
2,479

 
$
2,551
Schedule of Net Benefit Costs [Table Text Block]
The following table provides components of the net periodic cost for the pension, SERP and OPEB plans for the years ended 2012, 2011 and 2010 (in thousands):

 
2012
 
2011
 
2010
Service cost
$
1,932

 
$
1,382

 
$
439

Interest cost on projected benefit obligation
14,546

 
15,377

 
16,383

Expected return on plan assets
(16,875
)
 
(16,426
)
 
(14,478
)
Net amortization and deferral
(6
)
 
(5
)
 
2

Recognized actuarial loss
6,424

 
1,015

 
2,304

Net periodic cost
$
6,021

 
$
1,343

 
$
4,650


Interest cost on projected benefit obligation includes $0.9 million, $1.1 million and $1.6 million related to the Company’s SERP and OPEB plans in 2012, 2011 and 2010, respectively.
Schedule of Assumptions Used [Table Text Block]
The assumptions used in computing the net periodic cost and the funded status were as follows:

 
2012
 
2011
 
2010
Weighted average discount rate
3.75
%
 
4.25
%
 
5.25
%
Expected long-term rate of return on plan assets
8.00
%
 
8.00
%
 
8.00
%
Rate of compensation increase
—
%
 
3.00
%
 
4.00
%
The discount rate assumption used to determine the Company’s pension obligations as of the years ended 2012 and 2011 takes into account the projected future benefit cash flow and the underlying individual yields in the Citigroup Pension Liability Index that would be available to provide for the payment of those benefits. The ultimate rate is developed by calculating an equivalent discounted present value of the benefit cash flow as of the years ended 2012 and 2011, respectively, using a single discount rate rounded to the nearest quarter percent.
The expected long-term rate of return on plan assets of 8.0% for the years ended 2012 and 2011 was based on historical returns and the expectations for future returns for each asset class in which plan assets are invested as well as the target asset allocation of the investments of the plan assets.
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]
The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the Company’s pension and other postretirement plans with accumulated benefit obligations in excess of plan assets were as follows (in thousands):

 
2012
 
2011
Projected benefit obligation                                                                           
$
371,612

 
$
348,061

Accumulated benefit obligation                                                                           
371,612

 
347,638

Fair value of plan assets                                                                           
231,897

 
210,577
Schedule of Expected Benefit Payments [Table Text Block]
The estimated pension benefit payments expected to be paid by the pension plans and the estimated SERP and OPEB payments expected to be paid by the Company for the years 2013 through 2017, and in the aggregate for the years 2018 through 2022, are as follows (in thousands):
 
 
Pension Plans
 
SERP
 
OPEB 
2013:
$
16,030

 
$
2,175

 
$
267

2014:
16,533

 
2,050

 
250

2015:
16,899

 
1,975

 
233

2016:
17,263

 
1,946

 
217

2017:
17,722

 
1,795

 
201

2018 through 2022:
95,663

 
7,376

 
815
Schedule of Level Three Defined Benefit Plan Assets Roll Forward [Table Text Block]
The following table provides a summary of changes in the fair value of the Company’s Level 3 assets (in thousands):

 
Alternative Investments
Balance as of the year ended 2010
$
37,422

Purchases, sales and settlements
(9,002
)
Unrealized gains
342

Balance as of the year ended 2011
28,762

Purchases, sales and settlements
14,056

Unrealized gains
3,479

Balance as of the year ended 2012
$
46,297
Schedule of Allocation of Plan Assets [Table Text Block]
The range of asset allocations and the target allocations for the pension and other post-retirement asset investments were as follows:

 
2012
 
2011
 
Target
Equity securities                                                                           
51
%
64
%
 
55
%
55
%
 
60
%
75
%
Fixed income securities
25
%
32
%
 
25
%
39
%
 
25
%
35
%
Alternative investments and other
4
%
24
%
 
6
%
20
%
 
10
%
30
%
Fair Value of Assets. The Company's investment objective is to maximize the long-term return on its pension plan assets within prudent levels of risk. Investments are primarily diversified with a blend of equity securities, fixed income securities and alternative investments. The intent is to minimize plan expenses by outperforming plan liabilities over the long run.

The Company segregated its plan assets by the following major categories and levels for determining their fair value as of the years ended 2012 and 2011:

Cash and cash equivalents - Carrying value approximates fair value. As such, these assets were classified as Level 1.

Equity - Equity investments are diversified by including United States and non-United States stock, growth stocks, value stocks and stocks of large and small companies. The values of individual equity securities are based on quoted prices in active markets and are classified as Level 1.

Fixed income - Fixed income securities are primarily United States governmental and corporate bonds including mutual funds. The Company invests in certain fixed income funds that were priced on active markets and were classified as Level 1. The Company also invests in certain fixed income securities that are priced based on valuation models rather than a last trade basis and are not exchange-traded and are classified as Level 2.

Other - The Company also invests in group annuity contracts, which are invested in certain fixed income securities and are classified as Level 2.

Alternative investments - Alternative investments are primarily private equity hedge funds and hedge fund-of-funds. The fair value of alternative investments has been estimated using their Net Asset Values (“NAV”) as reported by the investment manager of the respective alternative investment funds. NAV reported by the hedge funds is used as a practical expedient to estimate the fair value. The investment manager values these investments on a periodic basis with models that use market, income and valuation methods. The valuation inputs are not highly observable, and these interests are not actively traded on an open market. These investments were classified as Level 3.

The methods described above may produce a fair value calculation that may not be indicative of net realizable value, or reflective of future fair values. While the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement. The Company invests in various assets in which valuation is determined by NAV. The Company believes that the NAV is representative of fair value, as there are no significant restrictions on redemption on these investments or other reasons that indicate the investment would be redeemed at an amount different than the NAV.
The fair values of the Company’s pension plan assets as of the years ended 2012 and 2011, by asset category are as follows (in thousands):

 
2012
 
Level 1
 
Level 2
 
Level 3
 
Total
Cash and cash equivalents
$
6,817

 
$
—

 
$
—

 
$
6,817

Equity
121,600

 
—

 
—

 
121,600

Fixed income
15,229

 
40,152

 
—

 
55,381

Other
—

 
1,802

 
—

 
1,802

Alternative investments
—

 
—

 
46,297

 
46,297

Total pension plan assets
$
143,646

 
$
41,954

 
$
46,297

 
$
231,897


 
2011
 
Level 1
 
Level 2
 
Level 3
 
Total
Cash and cash equivalents
$
27,066

 
$
—

 
$
—

 
$
27,066

Equity
101,716

 
—

 
—

 
101,716

Fixed income
44,093

 
7,018

 
—

 
51,111

Other
—

 
1,922

 
—

 
1,922

Alternative investments
—

 
—

 
28,762

 
28,762

Total pension plan assets
$
172,875

 
$
8,940

 
$
28,762

 
$
210,577
Schedule of Multiemployer Plans [Table Text Block]
Multi-Employer Plans. Certain of the Company’s employees are included in multi-employer pension plans to which the Company makes contributions in accordance with contractual union agreements. Such contributions are made on a monthly basis in accordance with the requirements of the plans and the actuarial computations and assumptions of the administrators of the plans. Contributions to multi-employer plans were $1.1 million in 2012, $1.6 million in 2011 and $2.4 million in 2010. In 2012 and 2011, the Company recorded withdrawal liabilities of $5.1 million and $1.4 million, respectively, as a result of exiting certain multi-employer pension plans in connection with its cost savings and restructuring plans.
The Company's participation in these plans for the year ended 2012, is outlined in the table below:
Pension Fund
EIN
Pension Plan Number
Pension Protection Act Reported Status (1)
FIP/RP Status (2)
Contributions
Surcharge imposed
Expiration Date of Collective Bargaining Agreement
 
 
 
2012
2011
 
2012
2011
2010
 
 
 
 
 
 
 
 
(in thousands)
 
 
GCC/IBT National Pension Fund
526118568
001
Red
Red
Implemented
$236
$249
$231
Yes
6/30/2013
GCC/IBT National Pension Fund
526118568
001
Red
Red
Implemented
102
206
333
Yes
12/31/2014
GCC/IBT National Pension Fund
526118568
001
Red
Red
Implemented
15
25
41
Yes
4/30/2014
Graphic Communications Pension Trust Fund Of Canada
M5000050
223
Red
Red
Implemented
225
250
250
No
6/30/2012
Graphic Communications Supplemental Retirement and Disability Fund
M5000050
226, 251
Red
Red
Implemented
479
523
575
No
6/30/2012
CWA/ITU Negotiated Pension Plan
136212879
001
Red
Red
Implemented
86
347
408
No
2/28/2013
 
 
 
 
Total contributions
$
1,143

$
1,600

$
1,838

 
 

(1)
Unless otherwise noted, the most recent Pension Protection Act (“PPA”) zone status available in 2012 and 2011 is for the plan's year end, not the Company's year end. The zone status is based on information that the Company received from the plan and is certified by the plan's actuary. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded.
(2)
The FIP/RP Status column indicates plans for which a financial improvement plan (“FIP”) or a rehabilitation plan (“RP”) is either pending or has been implemented.