| Compensation and Retirement Disclosure [Abstract] | Period [Axis] |
|---|
2015-06-29 - 2016-07-03 |
|---|
Compensation and Retirement Disclosure [Abstract] | |
Schedule of Reconciliation of Obligations, Plan Assets and Funded Status | The following provides a reconciliation of obligations, plan assets and funded status of the plans for the two years indicated (in thousands): | | | | | | | | | | | | | | | | | | | | Pension Benefits | | Other Postretirement Benefits | Actuarial Assumptions: | | 2016 | | 2015 | | 2016 | | 2015 | Discounted Rate Used to Determine Present Value of Projected Benefit Obligation | | 3.75 | % | | 4.55 | % | | 3.60 | % | | 4.20 | % | Expected Long-Term Rate of Return on Plan Assets | | 7.25 | % | | 7.50 | % | | n/a |
| | n/a |
| Change in Benefit Obligations: | | | | | | | | | Projected Benefit Obligation at Beginning of Year | | $ | 1,186,777 |
| | $ | 1,173,147 |
| | $ | 81,290 |
| | $ | 96,457 |
| Service Cost | | 3,532 |
| | 3,432 |
| | 262 |
| | 295 |
| Interest Cost | | 52,110 |
| | 49,782 |
| | 3,170 |
| | 3,568 |
| Plan Settlements | | (47,102 | ) | | — |
| | — |
| | — |
| Plan Participant Contributions | | — |
| | — |
| | 1,572 |
| | 1,510 |
| Actuarial (Gain) Loss | | 75,135 |
| | 35,287 |
| | (1,909 | ) | | (5,961 | ) | Benefits Paid | | (73,527 | ) | | (74,871 | ) | | (13,891 | ) | | (14,579 | ) | Projected Benefit Obligation at End of Year | | $ | 1,196,925 |
| | $ | 1,186,777 |
| | $ | 70,494 |
| | $ | 81,290 |
| Change in Plan Assets: | | | | | | | | | Fair Value of Plan Assets at Beginning of Year | | $ | 974,926 |
| | $ | 1,043,466 |
| | $ | — |
| | $ | — |
| Actual Return on Plan Assets | | 26,059 |
| | 3,317 |
| | — |
| | — |
| Plan Participant Contributions | | — |
| | — |
| | 1,572 |
| | 1,510 |
| Employer Contributions | | 3,229 |
| | 3,014 |
| | 12,319 |
| | 13,069 |
| Benefits Paid | | (73,527 | ) | | (74,871 | ) | | (13,891 | ) | | (14,579 | ) | Plan Settlements | | (47,102 | ) | | — |
| | — |
| | — |
| Fair Value of Plan Assets at End of Year | | $ | 883,585 |
| | $ | 974,926 |
| | $ | — |
| | $ | — |
| Funded Status: | | | | | | | | | Plan Assets (Less Than) in Excess of Projected Benefit Obligation | | $ | (313,340 | ) | | $ | (211,851 | ) | | $ | (70,494 | ) | | $ | (81,290 | ) | Amounts Recognized on the Balance Sheets: | | | | | | | | | Accrued Pension Cost | | $ | (310,378 | ) | | $ | (208,623 | ) | | $ | — |
| | $ | — |
| Accrued Wages and Salaries | | (2,962 | ) | | (3,228 | ) | | — |
| | — |
| Accrued Postretirement Health Care Obligation | | — |
| | — |
| | (38,441 | ) | | (47,545 | ) | Accrued Liabilities | | — |
| | — |
| | (9,125 | ) | | (12,025 | ) | Accrued Employee Benefits | | — |
| | — |
| | (22,928 | ) | | (21,720 | ) | Net Amount Recognized at End of Year | | $ | (313,340 | ) | | $ | (211,851 | ) | | $ | (70,494 | ) | | $ | (81,290 | ) | Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Net of Tax: | | | | | | | | | Net Actuarial Loss | | $ | (303,714 | ) | | $ | (249,279 | ) | | $ | (12,301 | ) | | $ | (15,468 | ) | Prior Service Credit (Cost) | | (334 | ) | | (443 | ) | | 2,873 |
| | 4,487 |
| Net Amount Recognized at End of Year | | $ | (304,048 | ) | | $ | (249,722 | ) | | $ | (9,428 | ) | | $ | (10,981 | ) |
|
Schedule of Income and Expense for Retirement Plans | The following table summarizes the plans’ income and expense for the three years indicated (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pension Benefits | | Other Postretirement Benefits | | | 2016 | | 2015 | | 2014 | | 2016 | | 2015 | | 2014 | Components of Net Periodic (Income) Expense: | | | | | | | | | | | | | Service Cost-Benefits Earned During the Year | | $ | 3,532 |
| | $ | 3,432 |
| | $ | 7,645 |
| | $ | 262 |
| | $ | 295 |
| | $ | 333 |
| Interest Cost on Projected Benefit Obligation | | 52,110 |
| | 49,782 |
| | 53,743 |
| | 3,170 |
| | 3,568 |
| | 4,565 |
| Expected Return on Plan Assets | | (71,202 | ) | | (74,638 | ) | | (74,152 | ) | | — |
| | — |
| | — |
| Amortization of: | | | | | | | | | | | | | Prior Service Cost (Credit) | | 180 |
| | 180 |
| | 180 |
| | (2,659 | ) | | (2,758 | ) | | (2,895 | ) | Actuarial Loss | | 13,007 |
| | 13,262 |
| | 25,105 |
| | 3,234 |
| | 4,316 |
| | 5,527 |
| Plan Settlements | | 20,245 |
| | — |
| | — |
| | — |
| | — |
| | — |
| Net Periodic Expense (Income) | | $ | 17,872 |
| | $ | (7,982 | ) | | $ | 12,521 |
| | $ | 4,007 |
| | $ | 5,421 |
| | $ | 7,530 |
|
|
Schedule of Significant Assumptions Used in Determining Net Periodic Expense | Significant assumptions used in determining net periodic expense for the fiscal years indicated are as follows: | | | | | | | | | | | | | | | | Pension Benefits | | Other Postretirement Benefits | | | 2016 | | 2015 | | 2014 | | 2016 | | 2015 | | 2014 | Discount Rate | | 4.55% | | 4.40% | | 5.00% | | 4.20% | | 3.95% | | 4.40% | Expected Return on Plan Assets | | 7.50% | | 8.00% | | 8.25% | | n/a | | n/a | | n/a | Compensation Increase Rate | | n/a | | n/a | | 3.0-4.0% | | n/a | | n/a | | n/a |
|
Schedule of Accumulated Other Comprehensive Income (Loss) that are Expected to be Recognized as Components of Net Periodic (Income) Expense During the Next Fiscal Year | The amounts in Accumulated Other Comprehensive Income (Loss) that are expected to be recognized as components of net periodic (income) expense during the next fiscal year are as follows (in thousands): | | | | | | | | | | | | Pension Plans | | Other Postretirement Plans | Prior Service Cost (Credit) | | $ | 180 |
| | $ | (2,654 | ) | Net Actuarial Loss | | 16,809 |
| | 2,746 |
|
|
Schedule of Defined Benefit Plan Targeted and Actual Plan Asset Allocations | The Company’s pension plan’s current target and asset allocations at July 3, 2016 and June 28, 2015, by asset category are as follows: | | | | | | | | | | | | Plan Assets at Year-end | Asset Category | | Target % | | 2016 | | 2015 | Domestic Equities | | 20%-28% | | 23% | | 22% | International Equities | | 7%-17% | | 14% | | 13% | Alternatives | | 0%-15% | | 10% | | 12% | Fixed Income | | 48%-52% | | 50% | | 50% | Cash Equivalents | | 0%-2% | | 3% | | 3% | | | | | 100% | | 100% |
|
Schedule of The Fair Value of the Major Categories of Plan Assets | The fair value of the major categories of the pension plans’ investments are presented below (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | July 3, 2016 | Category | | | | Total | | Level 1 | | Level 2 | | Level 3 | Short-Term Investments: | | | | $ | 26,558 |
| | $ | 26,558 |
| | $ | — |
| | $ | — |
| Fixed Income Securities: | | | | 441,869 |
| | — |
| | 441,869 |
| | — |
| Equity Securities: | | | | | | | | | | | U.S. common stocks | | | | 205,343 |
| | 205,343 |
| | — |
| | — |
| International mutual funds | | | | 126,589 |
| | 126,589 |
| | — |
| | — |
| Other Investments: | | | | | | | | | | | Venture capital funds | | (A) (E) | | 40,470 |
| | — |
| | — |
| | — |
| Debt funds | | (B) (E) | | 7,227 |
| | — |
| | — |
| | — |
| Real estate funds | | (C) (E) | | 2,608 |
| | — |
| | — |
| | — |
| Private equity funds | | (D) (E) | | 32,921 |
| | — |
| | — |
| | — |
| Fair Value of Plan Assets at End of Year | | | | $ | 883,585 |
| | $ | 358,490 |
| | $ | 441,869 |
| | $ | — |
|
| | | | | | | | | | | | | | | | | | | | | | | | June 28, 2015 | Category | | | | Total | | Level 1 | | Level 2 | | Level 3 | Short-Term Investments: | | | | $ | 28,378 |
| | $ | 28,378 |
| | $ | — |
| | $ | — |
| Fixed Income Securities: | | | | 481,576 |
| | — |
| | 481,576 |
| | — |
| Equity Securities: | | | | | | | | | | | U.S. common stocks | | | | 216,131 |
| | 216,131 |
| | — |
| | — |
| International mutual funds | | | | 127,423 |
| | 127,423 |
| | — |
| | — |
| Other Investments: | | | | | | | | | | | Venture capital funds | | (A) (E) | | 47,289 |
| | — |
| | — |
| | — |
| Debt funds | | (B) (E) | | 14,042 |
| | — |
| | — |
| | — |
| Real estate funds | | (C) (E) | | 6,104 |
| | — |
| | — |
| | — |
| Private equity funds | | (D) (E) | | 53,983 |
| | — |
| | — |
| | — |
| Fair Value of Plan Assets at End of Year | | | | $ | 974,926 |
| | $ | 371,932 |
| | $ | 481,576 |
| | $ | — |
|
| | (A) | This category invests in a combination of public and private securities of companies in financial distress, spin-offs, or new projects focused on technology and manufacturing. |
| | (B) | This fund primarily invests in the debt of various entities including corporations and governments in emerging markets, mezzanine financing, or entities that are undergoing, are considered likely to undergo or have undergone a reorganization. |
| | (C) | This category invests primarily in real estate related investments, including real estate properties, securities of real estate companies and other companies with significant real estate assets as well as real estate related debt and equity securities. |
| | (D) | Primarily represents investments in all sizes of mostly privately held operating companies in the following core industry sectors: healthcare, energy, financial services, technology-media-telecommunications and industrial and consumer. |
| | (E) | Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. |
|
Schedule of Projected Benefit Payments | Projected benefit payments from the plans as of July 3, 2016 are estimated as follows (in thousands): | | | | | | | | | | | | | | | | | | | | Pension Benefits | | Other Postretirement Benefits | Year Ending | | Qualified | | Non-Qualified | | Retiree Medical | | Retiree Life | 2017 | | $ | 74,476 |
| | $ | 2,964 |
| | $ | 7,778 |
| | $ | 1,345 |
| 2018 | | 74,240 |
| | 2,983 |
| | 7,094 |
| | 1,365 |
| 2019 | | 74,093 |
| | 3,136 |
| | 5,924 |
| | 1,383 |
| 2020 | | 73,811 |
| | 3,159 |
| | 5,104 |
| | 1,398 |
| 2021 | | 73,367 |
| | 3,200 |
| | 4,250 |
| | 1,409 |
| 2022-2026 | | 352,067 |
| | 16,887 |
| | 12,984 |
| | 7,082 |
|
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