Rogers 2010 Annual Report Download - page 103

Download and view the complete annual report

Please find page 103 of the 2010 Rogers annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 120

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
ROGERS COMMUNICATIONS INC. 2010 ANNUAL REPORT 107
16. OTHER LONG-TERM LIABILITIES:
2010 2009
CRTC commitments $ 31 $ 45
Supplemental executive retirement plan (note 17) 30 29
Restricted share units 17 12
Deferred compensation 16 18
Program rights liability 10 11
Deferred gain on contribution of spectrum licences,
net of accumulated amortization of $14 million (2009 – $10 million) (note 5) 10 14
Liabilities related to stock options 32
Other 72
$ 124 $ 133
The liability for CRTC committed expenditures is recorded upon
granting of the licence. The liability is reduced as the qualifying
expenditures are made. The amount of these liabilities, included in
accounts payable and accrued liabilities and other long-term liabilities,
is $45 million at December 31, 2010 (2009 – $62 million).
2010 2009
Plan assets, at fair value $ 614 $ 518
Accrued benefit obligations 766 526
Deficiency of plan assets over accrued benefit obligations (152) (8)
Employer contributions after measurement date 14 14
Unrecognized transitional asset –(1)
Unamortized past service costs 69
Unamortized net actuarial loss 295 120
Deferred pension asset $ 163 $ 134
2010 2009
Plan assets, beginning of year $ 518 $ 556
Actual return on plan assets 48 25
Contributions by employees 21 21
Contributions by employer 61 120
Benefits paid (34) (32)
Net transfer out on settlement (d) –(172)
Plan assets, end of year $ 614 $ 518
The Company maintains both contributory and non-contributory
defined benefit pension plans that cover most of its employees. The
plans provide pensions based on years of service, years of contributions
and earnings. The Company does not provide any non-pension post-
retirement benefits.
Actuarial estimates are based on projections of employees’
compensation levels at the time of retirement. Maximum retirement
benefits are primarily based upon career average earnings, subject to
certain adjustments. The most recent actuarial valuations were
completed as at January 1, 2010 for two of the plans and January 1,
2009 for one of the other plans. The next actuarial valuation for funding
purposes must be of a date no later than January 1, 2011 for certain of
the plans and January 1, 2012 for one of the other plans.
The estimated present value of accrued plan benefits and the estimated
market value of the net assets available to provide for these benefits
measured at September 30 for the year ended December 31 are
as follows:
Pension fund assets consist primarily of fixed income and equity
securities, valued at fair value. The following information is provided on
pension fund assets measured at September 30 for the year ended
December 31:
17. PENSIONS: