Shaw 2011 Annual Report Download - page 126
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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 post-retirement benefit plan expense.
2011
$
Current service cost 381
Interest cost 700
Actuarial loss 107
Plan amendment (430)
Difference between amortization of actuarial loss recognized for the year and actual
actuarial loss on the accrued benefit obligation for the year (107)
Difference between amortization of the plan amendment for the year and the actual
plan amendment on the accrued benefit obligation for the year 430
Post-retirement expense 1,081
The discount rate used to measure the post-retirement benefit cost for the year and the accrued
benefit obligation as at August 31, 2011 was 5.50%. The assumed health care cost trend rate
for the next year used to measure expected benefit costs is 6.49% decreasing to an ultimate
rate of 4.57% in 2029. A one percentage point increase in the assumed health care cost trend
rate would have increased the service and interest costs and accrued obligation by $208 and
$2,414, respectively. A one percentage point decrease in the assumed health care cost trend
rate would have lowered the service and interest costs and accrued obligation by $161 and
$1,934, respectively.
Benefit Payments
The table below shows the expected benefit payments for all defined benefit plans and other
post employment benefit plans in each of the next five fiscal years as actuarially determined,
and in aggregate, for the five fiscal years there after:
Pensions
$
Other
Benefits
$
2012 13,673 458
2013 14,185 493
2014 18,838 532
2015 26,940 580
2016 26,978 624
2017 – 2021 138,517 3,866
122