Shaw 2009 Annual Report Download - page 94

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The table below shows the components of the net benefit plan expense.
2009
$
2008
$
2007
$
Current service cost 5,002 4,610 2,956
Interest cost 11,817 8,931 6,129
Past service cost –– 25,767
Actuarial losses (gains) (4,507) 14,211 13,881
Difference between amortization of actuarial loss
recognized for the year and actual actuarial loss on
the accrued benefit obligation for the year 10,357 (9,067) (9,721)
Difference between amortization of past service costs
recognized for the year and actual past service costs
on the accrued benefit obligation for the year 4,831 4,831 (18,204)
Pension expense 27,500 23,516 20,808
The actuarial losses (gains) resulted primarily from changes in interest rate assumptions, salary
escalation assumptions, and changes in the mortality table. The past service costs result from
amendments to the plan, including new entrants.
The table below shows the expected benefit payments in each of the next five fiscal years as
actuarially determined, and in aggregate, for the five fiscal years thereafter:
$
2010 1,448
2011 1,432
2012 1,424
2013 5,918
2014 6,962
2015 – 2019 62,049
18. RELATED PARTY TRANSACTIONS
The following sets forth transactions in which the Company and its affiliates, directors or executive
officers are involved.
Normal course transactions
The Company has entered into certain transactions and agreements in the normal course of
business with certain of its related parties. These transactions are measured at the exchange
amount, which is the amount of consideration established and agreed to by the related parties.
Corus Entertainment Inc. (“Corus”)
The Company and Corus are subject to common voting control. During the year, network fees of
$121,659 (2008 – $108,094; 2007 – $108,801), advertising fees of $621 (2008 – $617;
2007 – $415) and programming fees of $1,066 (2008 – $1,062; 2007 – $1,047) were paid
to various Corus subsidiaries and entities subject to significant influence. In addition, the Company
90
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]