Shaw 2009 Annual Report Download - page 93

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to the plan. The plan is unfunded. There are no minimum required contributions and no
discretionary contributions are currently planned. The plan has remained unchanged since 2007.
The table below shows the change in benefit obligations.
2009
$
2008
$
Accrued benefit obligation and plan deficit, beginning of year 184,795 158,491
Current service cost 5,002 4,610
Interest cost 11,817 8,931
Actuarial losses (gains) (4,507) 14,211
Payment of benefits to employees (1,448) (1,448)
Accrued benefit obligation and plan deficit, end of year 195,659 184,795
Reconciliation of accrued benefit obligation to Consolidated Balance
Sheet accrued pension benefit liability
2009
$
2008
$
Balance of unamortized pension obligation:
Unamortized past service costs 28,817 33,648
Unamortized actuarial loss 60,430 70,787
89,247 104,435
Accrued pension benefit liability recognized in Consolidated
Balance Sheet:
Accounts payable and accrued liabilities 1,448 1,448
Other long-term liability 104,964 78,912
106,412 80,360
Accrued benefit obligation, end of year as above 195,659 184,795
The tables below show the significant weighted-average assumptions used to measure the pension
obligation and cost.
Accrued benefit obligation
2009
%
2008
%
Discount rate 6.75 6.25
Rate of compensation increase 5.00 5.00
Benefit cost for the year
2009
%
2008
%
2007
%
Discount rate 6.25 5.50 5.25
Rate of compensation increase 5.00 5.00 5.00
89
Shaw Communications Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
August 31, 2009, 2008 and 2007
[all amounts in thousands of Canadian dollars except share and per share amounts]