Shaw 2015 Annual Report Download - page 100

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Shaw Communications Inc.
Notes to the Consolidated Financial Statements
August 31, 2015 and 2014
[all amounts in millions of canadian dollars except share and per share amounts]
Other benefit plans
The Company has post-employment benefits plans that provide post-retirement health and life insurance coverage to certain
executive level retirees and retirees in the media business and are funded on a pay-as-you-go basis. The table below shows the
change in the accrued post-retirement obligation which is recognized in the statement of financial position.
2015
$
2014
$
Accrued benefit obligation and plan deficit, beginning of year 18 15
Current service cost 21
Interest cost 11
Payment of benefits (1) (1)
Remeasurements:
Effect of changes in demographic assumptions 2–
Effect of changes in financial assumptions (1) 2
Effect of experience adjustments 1–
Accrued benefit obligation and plan deficit, end of year 22 18
The weighted average duration of the benefit obligation at August 31, 2015 is 17.6 years.
The post-retirement benefit plan expense, which is included in employee salaries and benefits expense, is $3 (2014 – $2) and
is comprised of current service and interest cost.
The discount rates used to measure the post-retirement benefit cost for the year and the accrued benefit obligation as at
August 31, 2015 were 4.00% and 4.20%, respectively (2014 – 4.75% and 4.00%, respectively). A one percentage point
decrease in the discount rate would have increased the accrued benefit obligation at August 31, 2015 by $4.
Employer contributions
The Company’s estimated contributions to the defined benefit plans in fiscal 2016 are $37.
27. RELATED PARTY TRANSACTIONS
Controlling shareholder
The majority of the Class A Shares are indirectly held by the Shaw Family Living Trust (“SFLT”). The sole trustee of SFLT is a
private company owned and controlled by JR Shaw and has a Board of Directors which includes JR Shaw and members of his
family (the “Shaw Family Group”). The Shaw Family Group includes Directors and Senior Executive and Corporate Officers of
the Company.
98 Shaw Communications Inc. 2015 Annual Report