Shaw 2011 Annual Report Download - page 125

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Shaw Communications Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
August 31, 2011, 2010 and 2009
[all amounts in thousands of Canadian dollars except share and per share amounts]
The table below shows the components of the net defined benefit plan expense.
2011
$
Current service cost 4,146
Interest cost 5,966
Actual return on plan assets (1,346)
Actuarial gains (7,317)
Difference between amortization of actuarial gain recognized for the year and
actual actuarial gain on the accrued benefit obligation for the year 7,317
Difference between expected return and actual return on plan assets for the year (4,973)
Pension expense 3,793
The actuarial gains resulted primarily from changes in interest rate assumptions, salary
escalation assumptions, and changes in the mortality table.
Other Benefit Plans
As part of the broadcasting business acquisition in the current year, the Company assumed post
employments benefits plans that provide post retirement health and life insurance coverage.
2011
$
Accrued benefit obligation, beginning of year –
Media business acquisition 14,878
Current service cost 381
Interest cost 700
Actuarial loss 107
Plan amendment (430)
Payment of benefits (266)
Accrued benefit obligation and plan deficit, end of year 15,370
Reconciliation of accrued benefit obligation to Consolidated Balance Sheet accrued benefit liability
2011
$
Balance of unamortized obligation:
Actuarial loss 107
Plan amendment (430)
(323)
Accrued post-retirement liability recognized in Consolidated Balance Sheet:
Other long-term liabilities 15,693
Accrued benefit obligation, end of year as above 15,370
121