Air Canada 2014 Annual Report Download - page 109

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109
2014 Consolidated Financial Statements and Notes
The following table presents financial information related to the changes in the pension and other post-
employment benefits plans:
PENSION BENEFITS OTHER EMPLOYEE FUTURE
BENEFITS
2014 2013 2014 2013
CHANGE IN BENEFIT OBLIGATION
Benefit obligation at beginning of year $ 16,147 $ 16,446 $ 1,183 $ 1,230
Current service cost 213 264 55 60
Past service cost (13) (82) - -
Interest cost 783 704 56 53
Employees’ contributions 73 71 - -
Benefits paid (844) (850) (51) (50)
Settlement payments for transfer to Aeroplan (68) ---
Remeasurements:
Experience loss (gain) (9) 30 (110) (28)
Loss (gain) from change in demographic assumptions (66) 764 (1) 32
Loss (gain) from change in financial assumptions 2,117 (1,245) 137 (101)
Plan settlements (10) - - (26)
Foreign exchange loss 29 45 16 13
Total benefit obligation 18,352 16,147 1,285 1,183
CHANGE IN PLAN ASSETS
Fair value of plan assets at beginning of year 14,745 13,253 - -
Return on plan assets, excluding amounts included in Net
financing expense 2,353 1,199 - -
Interest income 714 563 - -
Employer contributions 445 475 51 50
Employees’ contributions 73 71 - -
Benefits paid (844) (850) (51) (50)
Plan settlements for transfer to Aeroplan (68) ---
Administrative expenses paid from plan assets (8) (7) - -
Foreign exchange gain 23 41 - -
Total plan assets 17,433 14,745 - -
DEFICIT AT END OF YEAR 919 1,402 1,285 1,183
Additional minimum funding liability 264 176 - -
NET BENEFIT OBLIGATION $ 1,183 $ 1,578 $ 1,285 $ 1,183
The actual return on plan assets was $3,067 (2013 – $1,762).
The pension benefit deficit of only those plans that are not fully funded is as follows:
2014 2013
Domestic registered plans $ 52 $ 574
US, UK and Japan 102 63
Supplementary plans 952 798
$ 1,106 $ 1,435