XML 18 R48.htm IDEA: XBRL DOCUMENT v2.4.0.6
Pension and Postretirement Benefit Plans (Tables)
 12 Months Ended
Dec. 29, 2012
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Allocation of Plan Assets
The plans’ weighted-average asset allocations by asset category are as follows:
 
December 29, 2012
 
December 31, 2011
Cash
1
%
 
3
%
Equity Securities
31
%
 
29
%
Fixed Income Securities
68
%
 
68
%
Total
100
%
 
100
%
Schedule of Expected Benefit Payments
The expected level of payments to, or on the behalf of, participants is as follows:
In thousands
Pension
 
Postretirement
2013
$
5,532

 
$
441

2014
5,314

 
414

2015
5,539

 
404

2016
5,940

 
392

2017
6,359

 
380

2018 to 2022
41,464

 
1,705
Pension Plans
  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Net Funded Status
The following table details information regarding the Company's pension plans:
In thousands
U.S. Pension Plans
 
Non-U.S. Pension Plans
Successor
 
 
Predecessor
 
Successor
 
 
Predecessor
Fiscal Year Ended
December 29,
2012
 
Eleven Months
Ended
December 31,
2011
 
 
One Month
Ended
January 28,
2011
 
Fiscal Year Ended
December 29,
2012
 
Eleven Months
Ended
December 31,
2011
 
 
One Month
Ended
January 28,
2011
Pension Plans
 
 
 
 
 
 
 
 
 
 
 
 
 
Change in Projected Benefit Obligation:
 
 
 
 
 
 
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
(15,219
)
 
$
(13,125
)
 
 
$
(13,367
)
 
$
(105,637
)
 
$
(104,758
)
 
 
$
(102,909
)
Service costs
—

 
—

 
 
—

 
(2,002
)
 
(1,917
)
 
 
(162
)
Interest costs
(620
)
 
(646
)
 
 
(58
)
 
(5,032
)
 
(5,262
)
 
 
(458
)
Participant contributions
—

 
—

 
 
—

 
(173
)
 
(173
)
 
 
(12
)
Actuarial gain / (loss)
(1,451
)
 
(2,349
)
 
 
219

 
(25,848
)
 
(4,089
)
 
 
448

Settlements / curtailments
—

 
—

 
 
—

 
5,520

 
—

 
 
—

Benefit payments
981

 
901

 
 
81

 
4,556

 
4,410

 
 
398

Currency translation
—

 
—

 
 
—

 
(2,964
)
 
6,152

 
 
(2,061
)
Benefit obligation at end of year
$
(16,309
)
 
$
(15,219
)
 
 
$
(13,125
)
 
$
(131,580
)
 
$
(105,637
)
 
 
$
(104,756
)
Change in Plan Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair value at beginning of year
$
11,341

 
$
11,974

 
 
$
11,965

 
$
129,365

 
$
115,718

 
 
$
117,398

Actual return on plan assets
1,091

 
(392
)
 
 
29

 
12,611

 
21,492

 
 
(3,786
)
Employer and participant contributions
721

 
660

 
 
61

 
3,493

 
3,970

 
 
222

Settlements / curtailments
—

 
—

 
 
—

 
(4,542
)
 
—

 
 
—

Benefit payments
(981
)
 
(901
)
 
 
(81
)
 
(4,556
)
 
(4,410
)
 
 
(398
)
Currency translation
—

 
—

 
 
—

 
2,693

 
(7,405
)
 
 
2,282

Fair value at end of year
$
12,172

 
$
11,341

 
 
$
11,974

 
$
139,064

 
$
129,365

 
 
$
115,718

Funded (unfunded) status
$
(4,137
)
 
$
(3,878
)
 
 
$
(1,151
)
 
$
7,484

 
$
23,728

 
 
$
10,962

Amounts included in the balance sheet:
 
 
 
 
 
 
 
 
 
 
 
 
 
Current assets
$
—

 
$
—

 
 
$
—

 
$
263

 
$
—

 
 
$
—

Other noncurrent assets
—

 
—

 
 
—

 
15,087

 
31,688

 
 
17,462

Accounts payable and accrued liabilities
—

 
—

 
 
—

 
(334
)
 
(895
)
 
 
(317
)
Other noncurrent liabilities
(4,137
)
 
(3,878
)
 
 
(1,151
)
 
(7,532
)
 
(7,065
)
 
 
(6,183
)
Net amount recognized
$
(4,137
)
 
$
(3,878
)
 
 
$
(1,151
)
 
$
7,484

 
$
23,728

 
 
$
10,962
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year
The following table summarizes the pretax amounts recorded in Accumulated other comprehensive income (loss) for the Company’s pension plans as of December 29, 2012 and December 31, 2011:
In thousands
U.S. Pension Plans
 
 
Non-U.S. Pension Plans
December 29, 2012
 
December 31, 2011
 
 
December 29, 2012
 
December 31, 2011
Transition net asset
$
—

 
$
—

 
 
$
—

 
$
—

Net actuarial (gain) loss
4,688

 
3,610

 
 
7,737

 
(10,949
)
Prior service cost
—

 
—

 
 
—

 
—

Net amounts recognized
$
4,688

 
$
3,610

 
 
$
7,737

 
$
(10,949
)
Components of net periodic benefit costs
The components of the Company's pension related costs for the following periods are as follows:
 
U.S. Pension Plans
 
Non-U.S. Pension Plans
In thousands, except percentage data
Fiscal Year Ended
December 29,
2012
 
Eleven Months
Ended
December 31,
2011
 
 
One Month
Ended
January 28,
2011
 
Fiscal Year Ended January 1, 2011
 
Fiscal Year Ended
December 29,
2012
 
Eleven Months
Ended
December 31,
2011
 
 
One Month
Ended
January 28,
2011
 
Fiscal Year Ended January 1, 2011
Pension Benefit Plans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Components of net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
—

 
$
—

 
 
$
—

 
$
—

 
$
2,002

 
$
1,917

 
 
$
162

 
$
1,984

Interest cost
620

 
646

 
 
58

 
730

 
5,032

 
5,262

 
 
458

 
5,215

Return on plan assets
(1,091
)
 
392

 
 
(29
)
 
(1,584
)
 
(12,611
)
 
(21,492
)
 
 
3,785

 
(10,454
)
Curtailment / settlement (gain) loss
—

 
—

 
 
—

 
—

 
792

 
—

 
 
—

 
—

Net amortization of:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Transition costs and other
373

 
(1,260
)
 
 
(36
)
 
894

 
6,911

 
16,043

 
 
(4,293
)
 
5,336

Net periodic benefit cost
$
(98
)
 
$
(222
)
 
 
$
(7
)
 
$
40

 
$
2,126

 
$
1,730

 
 
$
112

 
$
2,081

Weighted average assumptions used:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Return on plan assets
8.0
%
 
8.0
%
 
 
8.0
%
 
8.0
%
 
1.5 - 6.0%
 
2.4 - 6.0%

 
 
2.5 - 6.0%

 
2.5 - 6.0%

Discount rate
3.8
%
 
5.6
%
 
 
5.4
%
 
5.4
%
 
3.7 - 7.0%
 
4.0 - 7.3%

 
 
4.8 - 8.5%

 
4.8 - 8.5%

Salary and wage escalation rate
N/A

 
N/A

 
 
N/A

 
N/A

 
2.0 - 4.5%
 
2.0 - 4.5%

 
 
2.0 - 4.5%

 
2.0 - 4.5%
Schedule of Allocation of Plan Assets
The fair value of the Company's pension plan assets at December 29, 2012 by asset category is as follows:
In thousands
Total
 
Level 1
 
Level 2
 
Level 3
Cash
$
1,942

 
$
1,942

 
$
—

 
$
—

Equity securities:
 
 
 
 
 
 
 
U.S. equities (a)
7,877

 
6,190

 
1,687

 
—

Foreign equities (b)
10,509

 
522

 
9,987

 
—

Global equity funds (c)
25,483

 
—

 
25,483

 
—

Emerging markets (d)
2,424

 
1,094

 
1,330

 
—

Total equity securities
46,293

 
7,806

 
38,487

 
—

Fixed income securities:
 
 
 
 
 
 
 
U.S. fixed income funds (e)
4,121

 
4,121

 
—

 
—

Foreign fixed income funds (f)
98,880

 
—

 
98,880

 
—

Total fixed income securities
103,001

 
4,121

 
98,880

 
—

Total
$
151,236

 
$
13,869

 
$
137,367

 
$
—

(a)
This category consists of commingled and registered mutual funds that focus on equity securities of U.S companies. It includes both indexed and actively managed funds.
(b)
This category consists of commingled and registered mutual funds that focus on equity securities of companies outside of the U.S. It includes both indexed and actively managed funds.
(c)
This category consists of commingled and registered mutual funds that invest in equity securities of both U.S. and foreign companies. It includes actively managed funds
(d)
This category consists of commingled and registered mutual funds that invest in equity securities of companies in emerging market economies. It includes actively managed funds.
(e)
This category consists of actively managed funds that invest in investment-grade bonds of U.S. issuers from diverse industries and U.S. government bonds and treasury notes.
(f)
This category consists of funds that invest in investment-grade bonds of foreign companies and Euro region government bonds.
The fair value of the Company's pension plan assets at December 31, 2011 by asset category is as follows:
In thousands
Total
 
Level 1
 
Level 2
 
Level 3
Cash
$
4,209

 
$
384

 
$
3,825

 
$
—

Equity securities:
 
 
 
 
 
 
 
U.S. equities (a)
7,012

 
5,381

 
1,631

 
—

Foreign equities (b)
10,071

 
842

 
9,229

 
—

Global equity funds (c)
21,991

 
—

 
21,991

 
—

Emerging markets (d)
1,559

 
413

 
1,146

 
—

Total equity securities
40,633

 
6,636

 
33,997

 
—

Fixed income securities:
 
 
 
 
 
 
 
U.S. fixed income funds (e)
4,321

 
4,321

 
—

 
—

Foreign fixed income funds (f)
91,543

 
—

 
91,543

 
—

Total fixed income securities
95,864

 
4,321

 
91,543

 
—

Total
$
140,706

 
$
11,341

 
$
129,365

 
$
—

(a)
This category consists of commingled and registered mutual funds that focus on equity securities of U.S companies. It includes both indexed and actively managed funds.
(b)
This category consists of commingled and registered mutual funds that focus on equity securities of companies outside of the U.S. It includes both indexed and actively managed funds.
(c)
This category consists of commingled and registered mutual funds that invest in equity securities of both U.S. and foreign companies. It includes actively managed funds
(d)
This category consists of commingled and registered mutual funds that invest in equity securities of companies in emerging market economies. It includes actively managed funds.
(e)
This category consists of actively managed funds that invest in investment-grade bonds of U.S. issuers from diverse industries and U.S. government bonds and treasury notes.
(f)
This category consists of funds that invest in investment-grade bonds of foreign companies and Euro region government bonds.
Postretirement Benefit Plans
  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Net Funded Status
The following table details information regarding the Company's postretirement plans:
In thousands
U.S. Postretirement Plans
 
Non-U.S. Postretirement Plans
Successor
 
 
Predecessor
 
Successor
 
 
Predecessor
Fiscal Year Ended
December 29,
2012
 
Eleven Months
Ended
December 31,
2011
 
 
One Month
Ended
January 28,
2011
 
Fiscal Year Ended
December 29,
2012
 
Eleven Months
Ended
December 31,
2011
 
 
One Month
Ended
January 28,
2011
Postretirement Benefit Plans
 
 
 
 
 
 
 
 
 
 
 
 
 
Change in Projected Benefit Obligation:
 
 
 
 
 
 
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
—

 
$
—

 
 
$
—

 
$
(4,908
)
 
$
(5,599
)
 
 
$
(5,715
)
Additional benefit obligations
—

 
—

 
 
—

 
—

 
—

 
 
—

Service costs
—

 
—

 
 
—

 
(69
)
 
(75
)
 
 
(7
)
Interest costs
—

 
—

 
 
—

 
(218
)
 
(279
)
 
 
(24
)
Actuarial gain / (loss)
—

 
—

 
 
—

 
(394
)
 
(323
)
 
 
128

Settlements / curtailments
—

 
—

 
 
—

 
364

 
556

 
 
—

Benefit payments
—

 
—

 
 
—

 
407

 
614

 
 
34

Currency translation
—

 
—

 
 
—

 
(46
)
 
198

 
 
(15
)
Benefit obligation at end of year
$
—

 
$
—

 
 
$
—

 
$
(4,864
)
 
$
(4,908
)
 
 
$
(5,599
)
Change in Plan Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair value at beginning of year
$
—

 
$
—

 
 
$
—

 
$
—

 
$
—

 
 
$
—

Actual return on plan assets
—

 
—

 
 
—

 
—

 
—

 
 
—

Employer and participant contributions
—

 
—

 
 
—

 
407

 
614

 
 
34

Benefit payments
—

 
—

 
 
—

 
(407
)
 
(614
)
 
 
(34
)
Currency translation
—

 
—

 
 
—

 
—

 
—

 
 
—

Fair value at end of year
$
—

 
$
—

 
 
$
—

 
$
—

 
$
—

 
 
$
—

Funded status
$
—

 
$
—

 
 
$
—

 
$
(4,864
)
 
$
(4,908
)
 
 
$
(5,599
)
Amounts included in the balance sheet:
 
 
 
 
 
 
 
 
 
 
 
 
 
Other noncurrent assets
$
—

 
$
—

 
 
$
—

 
$
—

 
$
—

 
 
$
—

Accounts payable and accrued liabilities
—

 
—

 
 
—

 
(449
)
 
(531
)
 
 
(483
)
Other noncurrent liabilities
—

 
—

 
 
—

 
(4,415
)
 
(4,377
)
 
 
(5,116
)
Net amount recognized
$
—

 
$
—

 
 
$
—

 
$
(4,864
)
 
$
(4,908
)
 
 
$
(5,599
)
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year
The following table summarizes the pretax amounts recorded in Accumulated other comprehensive income (loss) for the Company’s postretirement benefit plans as of December 29, 2012 and December 31, 2011:
In thousands
Non-U.S. Postretirement Plans
December 29, 2012
 
December 31, 2011
Transition net asset
$
—

 
$
—

Net actuarial (gain) loss
443

 
295

Prior service cost
—

 
—

Net amounts recognized
$
443

 
$
295
Components of net periodic benefit costs
The components of the Company's postretirement related costs for the following periods are as follows:
 
U.S. Postretirement Plans
 
Non-U.S. Postretirement Plans
In thousands, except percentage data
Fiscal Year Ended
December 29,
2012
 
Eleven Months
Ended
December 31,
2011
 
 
One Month
Ended
January 28,
2011
 
Fiscal Year Ended January 1, 2011
 
Fiscal Year Ended
December 29,
2012
 
Eleven Months
Ended
December 31,
2011
 
 
One Month
Ended
January 28,
2011
 
Fiscal Year Ended January 1, 2011
Postretirement Benefit Plans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Components of net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
—

 
$
—

 
 
$
—

 
$
—

 
$
69

 
$
75

 
 
$
7

 
$
76

Interest cost
—

 
—

 
 
—

 
—

 
218

 
279

 
 
24

 
345

Curtailment / settlement (gain) loss
—

 
—

 
 
—

 
—

 
186

 
(556
)
 
 
—

 
—

Net amortization of:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Transition costs and other
—

 
—

 
 
—

 
(97
)
 
26

 
—

 
 
(26
)
 
(241
)
Net periodic benefit cost
$
—

 
$
—

 
 
$
—

 
$
(97
)
 
$
499

 
$
(202
)
 
 
$
5

 
$
180

Weighted average assumptions used:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Discount rate
N/A

 
N/A

 
 
N/A

 
N/A

 
3.5 - 7.0%

 
5.3 - 8.0%

 
 
5.0 - 8.5%

 
5.0 - 8.5%

Salary and wage escalation rate
N/A

 
N/A

 
 
N/A

 
N/A

 
3.0 - 4.5%

 
3.0 - 4.5%

 
 
3.0 - 4.5%

 
3.0 - 4.5%
Canadian Benefit Plans
  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Health Care Cost Trend Rates
The health care cost trend rate assumptions for the Company provided health care benefits for retirees in Canada are reflected in the following table. The Company does not provide post-employment health care benefits for retirees in other countries.
 
December 29, 2012
 
December 31, 2011
Weighted average health care cost trend rate assumed for next year
6.42
%
 
6.42
%
Rate to which the cost trend is expected to decline (the ultimate trend rate)
4.50
%
 
4.50
%
Year that the rate reached the ultimate trend rate
2028

 
2028