Cogeco 2005 Annual Report Download - page 53

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13 EMPLOYEES FUTURE BENEFITS (continued)
The following table provides a reconciliation of the change in the plans’ benefit obligations and plans’ assets at fair value and a statement of
the funded status as at August 31:
(amounts are in thousands of dollars) 2005 2004
$$
Accrued benefit obligation
Accrued benefit obligation at beginning of year 6,474 6,469
Current service cost 454 355
Interest cost 462 388
Contributions by plans’ participants 160 133
Benefits paid (205) (192)
Actuarial loss (gain) on obligation 1,934 (679)
Accrued benefit obligation at end of year 9,279 6,474
Plans’ assets at fair value
Plans’ assets at fair value at beginning of year 4,561 3,887
Actual return on plans’ assets 730 283
Contributions by plans’ participants 160 133
Employer contributions 458 450
Benefits paid (205) (192)
Plans’ assets at fair value at end of year 5,704 4,561
Funded Status
Plans’ assets at fair value 5,704 4,561
Accrued benefit obligation 9,279 6,474
Plans’ deficit 3,575 1,913
Net actuarial losses not recognized (2,328) (865)
Net accrued benefit liability 1,247 1,048
The accrued benefit liability is included in the Corporation’s balance sheet under pension plans liabilities and accrued employee benefits.
(amounts are in thousands of dollars) 2005 2004
$$
Defined benefit pension costs
Current service cost 454 355
Interest cost 462 388
Actual return on plans’ assets (730) (283)
Difference between expected return and actual return on plans’ assets 385 (9)
Amortization of net actuarial loss 86 99
Net periodic benefit cost 657 550
Cogeco Cable Inc. 2005
51
Notes to Consolidated Financial Statements