Shaw 2014 Annual Report Download - page 115
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Shaw Communications Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
August 31, 2014 and 2013
[all amounts in millions of Canadian dollars except share and per share amounts]
The table below shows the change in the benefit obligations, change in fair value of plan assets
and the funded status of these defined benefit plans.
2014
$
2013
$
Accrued benefit obligation, beginning of year 152 149
Current service cost 55
Interest cost 77
Employee contributions 11
Payment of benefits to employees (10) (7)
Remeasurements:
Effect of changes in demographic assumptions 15
Effect of changes in financial assumptions 15 (4)
Effect of experience adjustments –(4)
Accrued benefit obligation, end of year 171 152
Fair value of plan assets, beginning of year 133 116
Employer contributions 12 13
Employee contributions 11
Interest income 76
Payment of benefit (10) (7)
Administrative expenses paid from plan assets (1) (1)
Return on plan assets, excluding interest income 18 5
Fair value of plan assets, end of year 160 133
Accrued benefit liability and plan deficit, end of year 11 19
The weighted average duration of the defined benefit obligation at August 31, 2014 is
16.7 years.
The plan assets at August 31, 2014 are comprised of investments in pooled funds as follows:
$
Equity – Canadian 40
Equity – Foreign 21
Fixed income – Canadian 99
160
The underlying securities in the pooled funds have quoted prices in an active market.
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