Cogeco 2006 Annual Report Download - page 63
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Notes to Consolidated Financial Statements COGECO CABLE INC. 2006 61
(amounts are in thousands of dollars) 2006 2005
$ $
DEFINED BENEFIT PENSION COSTS
CURRENT SERVICE COST 794 454
PAST SERVICE COST 197 —)
INTEREST COST 517 462
ACTUAL RETURN ON PLANS’ ASSETS (280) (730)
ACTUARIAL LOSS (GAIN) ON OBLIGATION (747) 1,934
DIFFERENCE BETWEEN PAST SERVICE COST AND AMORTIZATION OF PAST SERVICE COST (184) —)
DIFFERENCE BETWEEN EXPECTED RETURN AND ACTUAL RETURN ON PLANS’ ASSETS (160) 385
DIFFERENCE BETWEEN ACTUARIAL LOSS (GAIN) AND AMORTIZATION OF NET ACTUARIAL LOSS 907 (1,848)
NET PERIODIC BENEFIT COST 1,044 657
Plans’ assets consist of:
2006 2005
% %
EQUITY SECURITIES 32 62
DEBT SECURITIES 64 32
OTHER 4 6
TOTAL 100 100
The signifi cant weighted average assumptions used in measuring the Corporation’s pension and other obligations are as follows:
2006 2005
% %
ACCRUED BENEFIT OBLIGATION
DISCOUNT RATE 5.50 5.00
RATE OF COMPENSATION INCREASE 5.00 5.00
DEFINED BENEFIT PENSION COSTS
DISCOUNT RATE 5.00 6.25
EXPECTED LONG-TERM RATE OF RETURN ON PLANS’ ASSETS 7.25 7.25
RATE OF COMPENSATION INCREASE 5.00 5.00
16. EMPLOYEES FUTURE BENEFITS (continued)