v3.22.4
Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]  
Obligations and Funded Status The following information is as of December 31, 2022 and January 1, 2022 and for the years ended December 31, 2022, January 1, 2022 and January 2, 2021: 
 20222021
 PensionHealthcarePensionHealthcare
 benefits& Life Ins.benefits& Life Ins.
Change in benefit obligations:
Beginning of period$25,266 $9,790 $27,827 $9,229 
Service cost68 35 58 194 
Interest cost640 239 550 189 
Actuarial (gain) loss(5,360)(1,454)(1,594)1,143 
Change in plan provision— (2,014)— — 
Benefits paid(1,577)(1,025)(1,575)(965)
End of period$19,037 $5,571 $25,266 $9,790 
Change in fair value of plan assets:
Beginning of period$20,004 $— $19,058 $— 
Actual return on plan assets(1,606)— 1,304 — 
Employer contributions222 1,025 1,217 965 
Benefits paid(1,577)(1,025)(1,575)(965)
End of period$17,043 $— $20,004 $— 
Funded status of plans$(1,994)$(5,571)$(5,262)$(9,790)
Current liabilities$— $(484)$— $(723)
Noncurrent liabilities(1,994)(5,087)(5,262)(9,067)
Liability recognized$(1,994)$(5,571)$(5,262)$(9,790)
Amounts recognized in accumulated other comprehensive income:
Net actuarial loss $5,170 $1,919 $8,261 $3,591 
Prior service cost— (3,167)— (1,449)
Total amount recognized$5,170 $(1,248)$8,261 $2,142 
Amounts Recognized in Other Comprehensive (Income) Loss
The amount recognized in accumulated other comprehensive income (“AOCI”) is the actuarial loss (gain) and prior service cost, which has not yet been recognized in periodic benefit cost.
 
 202220212020
 PensionHealthcarePensionHealthcarePensionHealthcare
 benefits & Life Ins.benefits& Life Ins.benefits& Life Ins.
Amounts recognized in other comprehensive (income) loss:
Net actuarial (gain) loss$(2,785)$(1,454)$(2,000)$1,143 $1,728 $675 
Prior service credit— (2,013)— — — — 
Amortization of prior year service credit— 296 — 241 — 241 
Amortization of loss(307)(218)(428)(259)(326)(89)
Total amount recognized$(3,092)$(3,389)$(2,428)$1,125 $1,402 $827 

The pension and postretirement healthcare and life programs experienced significant actuarial gains during the year ended December 31, 2022 due to the change in discount rate. This change was partially offset by lower than expected investment returns.
Schedule of Net Benefit Costs
202220212020
PensionHealthcarePensionHealthcarePensionHealthcare
benefits & Life Ins.benefits& Life Ins.benefits& Life Ins.
Components of net periodic benefit cost:
Service cost$68 $35 $58 $194 $71 $176 
Interest cost640 239 550 189 733 242 
Amortization of loss307 218 428 259 326 89 
Expected return on plan assets(970)— (898)— (1,221)— 
Amortization of prior service credit— (296)— (241)— (241)
Net periodic benefit (expense) cost$45 $196 $138 $401 $(91)$266 
Schedule of Assumptions Used Weighted-average assumptions used to determine the benefit obligations as of year-end 2022 and 2021 are:
 20222021
        Healthcare        Healthcare
Pension benefits & Life Ins. Pension benefits & Life Ins. 
Discount rate    
5.16%
5.09%
2.63%
2.31%
Expected long-term rate of return on plan assets5.00%N/A5.00%N/A
 
Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31, 2022, January 1, 2022 and January 2, 2021:
 202220212020
        Healthcare        HealthcareHealthcare
Pension benefits & Life Ins.Pension benefits & Life Ins. Pension benefits & Life Ins. 
Discount rate    
2.63%
2.31%
2.04%
1.82%
2.90%
2.79%
Expected long-term rate of return on plan assets5.00%N/A5.00%N/A7.00%N/A
Fair Value of Company's Pension Plans' Assets
The fair value of the Plans’ assets by asset class and fair value hierarchy level as of December 31, 2022 and January 1, 2022 are as follows:
 
 2022
  Quoted prices in active 
 Total fairmarkets for identicalObservable
 valueassets (Level 1)inputs (Level 2)
Fixed income securities:            
Intermediate—government$4,849 $4,849 $— 
Intermediate—corporate2,754 — 2,754 
Short-term—government531 531 — 
Short-term—corporate538 — 538 
International836 — 836 
Equity securities:
U.S. Large cap value1,635 1,635 — 
U.S. Large cap growth997 997 — 
U.S. Mid cap value630 630 — 
U.S. Mid cap growth439 439 — 
U.S. Small cap value607 607 — 
U.S. Small cap growth422 422 — 
International745 — 745 
Emerging Markets740 740 — 
Commodities Broad Basket185 185 — 
Cash1,135 1,135 — 
Total$17,043 $12,170 $4,873 
 
 2021
  Quoted prices in active 
 Total fairmarkets for identicalObservable
 valueassets (Level 1)inputs (Level 2)
Fixed income securities:
Intermediate—government$3,412 $3,412 $— 
Intermediate—corporate4,424 — 4,424 
Short-term—government1,727 1,727 — 
Short-term—corporate79 — 79 
International821 — 821 
Equity securities:
U.S. Large cap value1,912 1,912 — 
U.S. Large cap growth1,330 1,330 — 
U.S. Mid cap value750 750 — 
U.S. Mid cap growth526 526 — 
U.S. Small cap value730 730 — 
U.S. Small cap growth491 491 — 
International1,188 396 792 
Emerging Markets374 374 — 
Commodities Broad Basket1,058 202 856 
Cash1,182 1,182 — 
Total$20,004 $13,032 $6,972 
Estimated Benefit Payments
The estimated benefit payments for each of the next five years and the five-year period thereafter are as follows:
 
 PensionHealthcare and Life
 benefitsInsurance Benefits
2023$1,698 $484 
20241,684 496 
20251,640 515 
20261,604 531 
20271,575 555 
2028 - 20327,215 2,560 
Schedule of Multiemployer Plans The Company's participation in these plans for the annual period ended December 31, 2022, is outlined in the table below. The ''EIN/Pension Plan Number" column provides the Employer Identification Number (EIN) and the three-digit plan number, if applicable. Unless otherwise noted, the most recent Pension Protection Act (PPA) zone status available in 2022 and 2021 is for the plan 's year end at December 31, 2022, and December 31, 2021, respectively. The zone status is based on information the Company received from the plan and is certified by the plan's actuary. Among other factors, plans in the red zone are generally less than 65% funded, plans in the yellow zone are less than 80% funded and plans in the green zone are at least 80% funded. The "FIP/RP Status Pending/Implemented" column indicates plans for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented. The "Surcharge Imposed" column indicates whether a surcharge has been imposed on contributions to the plan. The last column lists the expiration date(s) of the collective-
bargaining agreement(s) to which the plans are subject. There have been no significant changes that affect the comparability of 2022 and 2021 contributions.
Expiration Date of
Pension Protection ActFIP/RP StatusContributions of CompanyCollective-
PensionEIN/ PensionZone StatusPending/($ in thousands)SurchargeBargaining
Trust FundPlan Number20222021Implemented20222021ImposedAgreement
Construction Industry Laborers Pension Fund43-6060737/001Green - as of December 31, 2021Green - as of December 31, 2020None$108 $107 No3/31/2026
Operating Engineers Local 101 Pension Plan43-6059213/001Green - as of December 31, 2021Green - as of December 31, 2020None21 19 No3/31/2026
Total Contributions$129 $126 
Summit Materials, LLC  
Defined Benefit Plan Disclosure [Line Items]  
Obligations and Funded Status The following information is as of December 31, 2022 and January 1, 2022 and for the years ended December 31, 2022, January 1, 2022 and January 2, 2021:  
 20222021
PensionHealthcarePensionHealthcare
benefits& Life Ins.benefits& Life Ins.
Change in benefit obligations:
Beginning of period$25,266 $9,790 $27,827 $9,229 
Service cost68 35 58 194 
Interest cost640 239 550 189 
Actuarial (gain) loss(5,360)(1,454)(1,594)1,143 
Change in plan provision— (2,014)— — 
Benefits paid(1,577)(1,025)(1,575)(965)
End of period$19,037 $5,571 $25,266 $9,790 
Change in fair value of plan assets:
Beginning of period$20,004 $— $19,058 $— 
Actual return on plan assets(1,606)— 1,304 — 
Employer contributions222 1,025 1,217 965 
Benefits paid(1,577)(1,025)(1,575)(965)
End of period$17,043 $— $20,004 $— 
Funded status of plans$(1,994)$(5,571)$(5,262)$(9,790)
Current liabilities$— $(484)$— $(723)
Noncurrent liabilities(1,994)(5,087)(5,262)(9,067)
Liability recognized$(1,994)$(5,571)$(5,262)$(9,790)
Amounts recognized in accumulated other comprehensive income:
Net actuarial loss $5,170 $1,919 $8,261 $3,591 
Prior service cost— (3,167)— (1,449)
Total amount recognized$5,170 $(1,248)$8,261 $2,142 
Amounts Recognized in Other Comprehensive (Income) Loss
 202220212020
PensionHealthcarePensionHealthcarePensionHealthcare
benefits& Life Ins.benefits& Life Ins.benefits& Life Ins.
Amounts recognized in other comprehensive (income) loss:
Net actuarial (gain) loss$(2,785)$(1,454)$(2,000)$1,143 $1,728 $675 
Prior service credit— (2,013)— — — — 
Amortization of prior year service credit— 296 — 241 — 241 
Amortization of loss(307)(218)(428)(259)(326)(89)
Total amount recognized$(3,092)$(3,389)$(2,428)$1,125 $1,402 $827 
Components of net periodic benefit cost:
Service cost$68 $35 $58 $194 $71 $176 
Interest cost640 239 550 189 733 242 
Amortization of loss307 218 428 259 326 89 
Expected return on plan assets(970)— (898)— (1,221)— 
Amortization of prior service credit— (296)— (241)— (241)
Net periodic benefit (expense) cost$45 $196 $138 $401 $(91)$266 

The pension and postretirement healthcare and life programs experienced significant actuarial gains during the year ended December 31, 2022 due to the change in discount rate. This change was partially offset by lower than expected investment returns.
Schedule of Net Benefit Costs
 202220212020
PensionHealthcarePensionHealthcarePensionHealthcare
benefits& Life Ins.benefits& Life Ins.benefits& Life Ins.
Amounts recognized in other comprehensive (income) loss:
Net actuarial (gain) loss$(2,785)$(1,454)$(2,000)$1,143 $1,728 $675 
Prior service credit— (2,013)— — — — 
Amortization of prior year service credit— 296 — 241 — 241 
Amortization of loss(307)(218)(428)(259)(326)(89)
Total amount recognized$(3,092)$(3,389)$(2,428)$1,125 $1,402 $827 
Components of net periodic benefit cost:
Service cost$68 $35 $58 $194 $71 $176 
Interest cost640 239 550 189 733 242 
Amortization of loss307 218 428 259 326 89 
Expected return on plan assets(970)— (898)— (1,221)— 
Amortization of prior service credit— (296)— (241)— (241)
Net periodic benefit (expense) cost$45 $196 $138 $401 $(91)$266 

The pension and postretirement healthcare and life programs experienced significant actuarial gains during the year ended December 31, 2022 due to the change in discount rate. This change was partially offset by lower than expected investment returns.
Schedule of Assumptions Used Weighted-average assumptions used to determine the benefit obligations as of year-end 2022 and 2021 are:
 20222021
HealthcareHealthcare
Pension benefits& Life Ins.Pension benefits& Life Ins.
Discount rate
5.16%
5.09%
2.63%
2.31%
Expected long-term rate of return on plan assets5.00%N/A5.00%N/A
 
Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31, 2022, January 1, 2022 and January 2, 2021:
 
 202220212020
HealthcareHealthcareHealthcare
Pension benefits& Life Ins.Pension benefits& Life Ins.Pension benefits& Life Ins.
Discount rate
2.63%
2.31%
2.04%
1.82%
2.90%
2.79%
Expected long-term rate of return on plan assets5.00%N/A5.00%N/A7.00%N/A
Fair Value of Company's Pension Plans' Assets
The fair value of the Plans’ assets by asset class and fair value hierarchy level as of December 31, 2022 and January 1, 2022 are as follows:
 
 2022
  Quoted prices in active 
 Total fairmarkets for identicalObservable
 valueassets (Level 1)inputs (Level 2)
Fixed income securities:            
Intermediate—government$4,849 $4,849 $— 
Intermediate—corporate2,754 — 2,754 
Short-term—government531 531 — 
Short-term—corporate538 — 538 
International836 — 836 
Equity securities:
U.S. Large cap value1,635 1,635 — 
U.S. Large cap growth997 997 — 
U.S. Mid cap value630 630 — 
U.S. Mid cap growth439 439 — 
U.S. Small cap value607 607 — 
U.S. Small cap growth422 422 — 
International745 — 745 
Emerging Markets740 740 — 
Commodities Broad Basket185 185 — 
Cash1,135 1,135 — 
Total$17,043 $12,170 $4,873 
 
 
 2021
  Quoted prices in active 
 Total fairmarkets for identicalObservable
 valueassets (Level 1)inputs (Level 2)
Fixed income securities:   
Intermediate—government$3,412 $3,412 $— 
Intermediate—corporate4,424 — 4,424 
Short-term—government1,727 1,727 — 
Short-term—corporate79 — 79 
International821 — 821 
Equity securities:
U.S. Large cap value1,912 1,912 — 
U.S. Large cap growth1,330 1,330 — 
U.S. Mid cap value750 750 — 
U.S. Mid cap growth526 526 — 
U.S. Small cap value730 730 — 
U.S. Small cap growth491 491 — 
International1,188 396 792 
Emerging Markets374 374 — 
Commodities Broad Basket1,058 202 856 
Cash1,182 1,182 — 
Total$20,004 $13,032 $6,972 
Estimated Benefit Payments
The estimated benefit payments for each of the next five years and the five-year period thereafter are as follows:
 
 PensionHealthcare and Life
 benefitsInsurance Benefits
2023$1,698 $484 
20241,684 496 
20251,640 515 
20261,604 531 
20271,575 555 
2028 - 20327,215 2,560 
Schedule of Multiemployer Plans The Company's participation in these plans for the annual period ended December 31, 2022, is outlined in the table below. The ''EIN/Pension Plan Number" column provides the Employer Identification Number (EIN) and the three-digit plan number, if applicable. Unless otherwise noted, the most recent Pension Protection Act (PPA) zone status available in 2022 and 2021 is for the plan 's year end at December 31, 2022, and December 31, 2021, respectively. The zone status is based on information 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% funded, plans in the yellow zone are less than 80% funded and plans in the green zone are at least 80% funded. The "FIP/RP Status Pending/Implemented" column indicates plans for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented. The "Surcharge Imposed" column indicates
whether a surcharge has been imposed on contributions to the plan. The last column lists the expiration date(s) of the collective-bargaining agreement(s) to which the plans are subject. There have been no significant changes that affect the comparability of 2022 and 2021 contributions.

Expiration Date of
Pension Protection ActFIP/RP StatusContributions of CompanyCollective-
PensionEIN/ PensionZone StatusPending/($ in thousands)SurchargeBargaining
Trust FundPlan Number20222021Implemented20222021ImposedAgreement
Construction Industry Laborers Pension Fund43-6060737/001Green - as of December 31, 2021Green - as of December 31, 2020None$108 $107 No3/31/2026
Operating Engineers Local 101 Pension Plan43-6059213/001Green - as of December 31, 2021Green - as of December 31, 2020None21 19 No3/31/2026
Total Contributions$129 $126