Compensation and Retirement Disclosure [Abstract] | Period [Axis] |
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2015-12-27 - 2016-12-31 |
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Compensation and Retirement Disclosure [Abstract] | |
Reconciliation of Benefit Obligations and Plans Assets of the Company's Pension Plans | The following table provides a reconciliation of benefit obligations and plan assets of the Company’s pension, DCP and ESLIRP plans: | | | | | | | | | | December 31, 2016 | | December 26, 2015 | | | | | | (in thousands) | Change in projected benefit obligations: | |
| | |
| Benefit obligation at beginning of year | $ | 345,220 |
| | $ | 359,130 |
| Service cost | 2,453 |
| | 4,293 |
| Interest cost | 12,046 |
| | 12,974 |
| Benefit payments | (13,383 | ) | | (8,191 | ) | Curtailment | (279 | ) | | — |
| Settlements | (5,499 | ) | | — |
| Plan amendments | 188 |
| | — |
| Transfer in from acquisition | 5,271 |
| | — |
| Actuarial loss (gain) | 71,006 |
| | (10,362 | ) | Administrative expenses paid | (605 | ) | | (411 | ) | Effect of foreign exchange | (36,476 | ) | | (12,213 | ) | Benefit obligation at end of year | $ | 379,942 |
| | $ | 345,220 |
| Change in fair value of plan assets: | | | | Fair value of plan assets at beginning of year | $ | 275,480 |
| | $ | 281,290 |
| Actual return on plan assets | 23,388 |
| | 6,263 |
| Employer contributions | 10,551 |
| | 6,762 |
| Settlements | (5,499 | ) | | — |
| Transfer in from acquisition | 508 |
| | — |
| Benefit payments | (13,383 | ) | | (8,191 | ) | Administrative expenses paid | (605 | ) | | (411 | ) | Effect of foreign exchange | (33,537 | ) | | (10,233 | ) | Fair value of plan assets at end of year | $ | 256,903 |
| | $ | 275,480 |
| | | | | Net balance sheet liability | $ | 123,039 |
| | $ | 69,740 |
| | | | | Amounts recognized in balance sheet: | | | | Noncurrent assets | $ | — |
| | $ | 261 |
| Current liabilities | 1,120 |
| | 6,133 |
| Noncurrent liabilities | 121,919 |
| | 63,868 |
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Amounts Recognized in Accumulated Other Comprehensive Loss Related to the Company's Pensions Plans | Amounts recognized in accumulated other comprehensive loss related to the Company’s pension, DCP and ESLIRP plans are as follows: | | | | | | | | | | Fiscal Year | | 2016 | | 2015 | | | | | | (in thousands) | Net actuarial loss | $ | 123,743 |
| | $ | 73,412 |
| Net prior service cost (credit) | (3,300 | ) | | (4,584 | ) | Net amount recognized | $ | 120,443 |
| | $ | 68,828 |
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Accumulated Benefit Obligation and Fair of Plan Assets | The accumulated benefit obligation and fair value of plan assets for the Company’s pension, DCP and ESLIRP plans with accumulated benefit obligations in excess of plan assets are as follows: | | | | | | | | | | December 31, 2016 | | December 26, 2015 | | | | | | (in thousands) | Accumulated benefit obligation | $ | 346,122 |
| | $ | 306,433 |
| Fair value of plan assets | 242,172 |
| | 253,225 |
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Projected Benefit Obligation and Fair Value of Plan Assets | The projected benefit obligation and fair value of plan assets for the Company’s pension, DCP and ESLIRP plans with projected benefit obligations in excess of plan assets are as follows: | | | | | | | | | | December 31, 2016 | | December 26, 2015 | | | | | | (in thousands) | Projected benefit obligation | $ | 379,942 |
| | $ | 336,155 |
| Fair value of plan assets | 256,903 |
| | 266,154 |
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Amounts in Accumulated Other Comprehensive Income Expected to Be Recognized as Components of Net Periodic Benefit Cost Over the Next Fiscal Year | The amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost over the next fiscal year are as follows: | | | | | | December 31, 2016 | | (in thousands) | Amortization of net actuarial loss | $ | 3,867 |
| Amortization of net prior service credit | (475 | ) |
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Components of Net Periodic Benefit Costs for the Company's Pension Plans | Components of net periodic benefit cost for the Company’s pension, DCP and ESLIRP plans are as follows: | | | | | | | | | | | | | | Fiscal Year | | 2016 | | 2015 | | 2014 | | | | | | | | (in thousands) | Service cost | $ | 2,453 |
| | $ | 4,293 |
| | $ | 4,155 |
| Interest cost | 12,046 |
| | 12,974 |
| | 13,831 |
| Expected return on plan assets | (14,164 | ) | | (16,987 | ) | | (17,444 | ) | Amortization of prior service cost (credit) | (292 | ) | | (581 | ) | | 1,211 |
| Amortization of net loss (gain) | 2,003 |
| | 3,198 |
| | 23 |
| Curtailment | (279 | ) | | — |
| | — |
| Settlements | 788 |
| | — |
| | — |
| Net periodic cost (benefit) | $ | 2,555 |
| | $ | 2,897 |
| | $ | 1,776 |
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Weighted-average Assumptions | Weighted-average assumptions used to determine projected benefit obligations are as follows: | | | | | | | | December 31, 2016 | | December 26, 2015 | Discount rate | 3.01 | % | | 3.89 | % | Rate of compensation increase | 3.25 | % | | 3.17 | % |
Weighted-average assumptions used to determine net periodic benefit cost are as follows: | | | | | | | | | | | December 31, 2016 | | December 26, 2015 | | December 27, 2014 | Discount rate | 3.89 | % | | 3.75 | % | | 4.44 | % | Expected long-term return on plan assets | 5.83 | % | | 6.24 | % | | 6.41 | % | Rate of compensation increase | 3.17 | % | | 3.18 | % | | 3.36 | % |
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Fair Value of the Company's Pension Plan Assets by Asset Category | The fair value of the Company’s pension plan assets by asset category are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2016 | | December 26, 2015 | | Level 1 | | Level 2 | | Level 3 | | Total | | Level 1 | | Level 2 | | Level 3 | | Total | | | | | | | | | | | | | | | | | | (in thousands) | Cash | $ | 108 |
| | $ | — |
| | $ | — |
| | $ | 108 |
| | $ | 92 |
| | $ | — |
| | $ | — |
| | $ | 92 |
| Equity securities(1) | 63,348 |
| | 6,252 |
| | — |
| | 69,600 |
| | 65,890 |
| | 5,941 |
| | — |
| | 71,831 |
| Debt securities(2) | 59,294 |
| | 3,269 |
| | — |
| | 62,563 |
| | 68,489 |
| | 2,822 |
| | — |
| | 71,311 |
| Mutual funds(3) | 64,698 |
| | 56,596 |
| | — |
| | 121,294 |
| | 63,689 |
| | 65,725 |
| | — |
| | 129,414 |
| Other | 1,318 |
| | 586 |
| | 1,434 |
| | 3,338 |
| | 1,021 |
| | 49 |
| | 1,762 |
| | 2,832 |
| Total | $ | 188,766 |
| | $ | 66,703 |
| | $ | 1,434 |
| | $ | 256,903 |
| | $ | 199,181 |
| | $ | 74,537 |
| | $ | 1,762 |
| | $ | 275,480 |
| (1) This category comprises equity securities held by non-U.S. pension plans valued at the quoted closing price, and translated into U.S. dollars using a foreign currency exchange rate at year end. | (2) This category comprises debt securities held by non-U.S. pension plans valued at the quoted closing price, and translated into U.S. dollars using a foreign currency exchange rate at year end. | (3) This category comprises mutual funds valued at the net asset value of shares held at year end. |
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Estimated Future Benefit Payments Over the Next Five Years | Estimated future benefit payments during the next five years and in the aggregate for fiscal years thereafter, are as follows: | | | | | | Fiscal Year | | Pension Plans | | | (in thousands) | 2017 | | $ | 8,610 |
| 2018 | | 8,818 |
| 2019 | | 9,682 |
| 2020 | | 10,014 |
| 2021 | | 30,717 |
| Thereafter | | 57,705 |
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