Shaw 2013 Annual Report Download - page 117
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S
haw
C
ommunications Inc
.
N
O
TE
S
T
OCO
N
SO
LIDATED FINAN
C
IAL
S
TATEMENT
S
August 31, 2013 and 201
2
[all amounts in millions of Canadian dollars exce
p
t share and
p
er share amounts
]
The tables below show the significant weighted-average assumptions used to measure the
p
ension obli
g
ation and cost for these
p
lans.
A
ccrued benefit obligatio
n
2
01
3
%
2012
%
Discount rate 4.8
4
4.67
Rate of compensation increase
3
.
50
3
.
50
Benefit cost for the year
2
01
3
%
2012
%
Discount rate 4.67
5
.
75
Rate o
f
compensat
i
on
i
ncrease
3
.
50
4.
00
The calculation of the accrued benefit obligation is sensitive to the assumptions above. A one
p
ercenta
g
e
p
oint decrease in the discount rate would have increased the accrued benefi
t
o
bli
g
ation at Au
g
ust 31, 2013 b
y
$25. A one
p
ercenta
g
e
p
oint increase in the rate o
f
compensation increase would have increased the accrued benefit obligation by
$
5.
W
hen calculating the sensitivity of the defined benefit obligation to significant actuaria
l
assum
p
tions, the
p
resent value of the defined benefit obli
g
ation has been calculated usin
g
the
p
ro
j
ected bene
fi
t method wh
i
ch
i
s the same method that
i
sa
pp
l
i
ed
i
n calculat
i
n
g
the de
fi
ne
d
benefit liability recognized in the statement of financial position. The sensitivity analysis
p
resented above ma
y
not be re
p
resentative of the actual chan
g
e in the accrued benefi
t
o
bl
ig
at
i
on as
i
t
i
s unl
i
kel
y
that the chan
g
e
i
n assum
p
t
i
ons would occur
i
n
i
solat
i
on o
f
one
another as some assumptions may be correlated
.
The net pension benefit plan expense, which is included in employee salaries and benefits
ex
p
ense, is com
p
rised of the followin
g
com
p
onents:
2013
$
2012
$
C
urrent service cost
5
4
In
te
r
est cost
7
7
Interest
i
ncom
e
(6)
(
7
)
A
dministrative expenses
1
1
Pension expense
7
5
113