FY2021 10-K Document - FINAL 11 15 21 - Flipbook - Page 68
Table of Contents
(1)
Certain investments that are measured at fair value using the NAV 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 total retirement plan assets.
The following is a roll forward of the consolidated plan assets classified as Level 3 within the fair value hierarchy:
U.S. Plans
$
505
4
—
(509)
—
—
—
—
—
—
$
—
Balance at September 28, 2019
Return on assets
Purchases from contributions to Plans
Settlements paid in cash
Foreign currency translation
Balance at October 3, 2020
Return on assets
Purchases from contributions to Plans
Settlements paid in cash
Foreign currency translation
Balance at October 2, 2021
NonU.S. Plans
$
56,213
(4,671)
2,508
(1,274)
3,685
56,461
2,882
1,914
(59,180)
914
$
2,991
Total
56,718
(4,667)
2,508
(1,783)
3,685
56,461
2,882
1,914
(59,180)
914
2,991
$
$
The following table summarizes investments measured at fair value based on NAV per share as of October 2, 2021:
Fair Value
Collective investment trusts
Limited partnerships (1)
Total
(1)
October 2,
2021
$
128,941
23,423
$
152,364
October 3,
2020
$
—
21,316
21,316
$
Unfunded
Commitments
$
—
4,280
$
4,280
Redemption
Frequency
Daily
Varies
Redemption
Notice Period
5 days
10-45 days
Investments in limited partnerships held by us invest primarily in emerging markets, equity and equity related
securities. The strategy for the partnerships is to have exposure to certain markets or to securities that are
judged to achieve superior earnings growth and/or judged undervalued relative to intrinsic value.
The preceding methods may produce a fair value calculation that may not be indicative of net realizable value or
reflective of future fair values. Furthermore, although we believe the 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 at the reporting date.
Expense for all defined benefit plans is as follows:
U.S. Plans
Service cost
Interest cost
Expected return on plan assets
Amortization of prior service cost (credit)
Amortization of actuarial loss
Curtailment (gain) loss
Settlement (gain) loss
Total expense for defined benefit plans
2021
$ 22,488
17,103
(30,543)
—
13,721
—
—
$ 22,769
68
2020
$ 23,033
30,597
(44,084)
133
25,316
—
121,324
$ 156,319
Non-U.S. Plans
2019
$ 21,003
36,924
(45,054)
187
26,639
—
—
$ 39,699
2021
5,290
2,277
(4,102)
45
5,568
(5,830)
(44)
$ 3,204
$
2020
6,771
2,785
(4,577)
(3)
4,943
100
676
$ 10,695
$
2019
4,988
4,393
(5,182)
(18)
2,532
—
—
$ 6,713
$