Shaw 2014 Annual Report Download - page 116

Download and view the complete annual report

Please find page 116 of the 2014 Shaw annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 129

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129

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 tables below show the significant weighted-average assumptions used to measure the
pension obligation and cost for these plans.
Accrued benefit obligation
2014
%
2013
%
Discount rate 4.09 4.84
Rate of compensation increase 3.00 3.50
Benefit cost for the year
2014
%
2013
%
Discount rate 4.84 4.67
Rate of compensation increase 3.50 3.50
The calculation of the accrued benefit obligation is sensitive to the assumptions above. A one
percentage point decrease in the discount rate would have increased the accrued benefit
obligation at August 31, 2014 by $31. A one percentage point increase in the rate of
compensation increase would have increased the accrued benefit obligation by $6.
When calculating the sensitivity of the defined benefit obligation to significant actuarial
assumptions, the present value of the defined benefit obligation has been calculated using the
projected benefit method which is the same method that is applied in calculating the defined
benefit liability recognized in the statement of financial position. The sensitivity analysis
presented above may not be representative of the actual change in the accrued benefit
obligation as it is unlikely that the change in assumptions would occur in isolation of one
another as some assumptions may be correlated.
The net pension benefit plan expense, which is included in employee salaries and benefits
expense, is comprised of the following components:
2014
$
2013
$
Current service cost 55
Interest cost 77
Interest income (7) (6)
Administrative expenses 11
Pension expense 67
112