TD Bank 2011 Annual Report Download - page 136

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TD BANK GROUP ANNUAL REPORT 2011 FINANCIAL RESULTS134
The following table presents only those plans with projected benefit
obligations in excess of plan assets at fair value.
Employee Future Benefit Plans’ Obligations, Assets and Funded Status
(millions of Canadian dollars) Principal Non-Pension
Post-Retirement Other Pension and
Principal Pension Plans Benefit Plan Retirement Plans
2011 2010 2009 2011 2010 2009 2011 2010 2009
Projected benefit obligation at end of period $ – $ – $ 13 $ 444 $ 418 $ 351 $ 2,039 $ 1,164 $ 782
Plan assets at fair value at end of period – – 1 – – – 1,368 755 413
Excess (deficit) of plan assets over
projected benefit obligation $ – $ – $ (12) $ (444) $ (418) $ (351) $ (671) $ (409) $ (369)
CASH FLOWS AND AMOUNTS RECOGNIZED IN THE
CONSOLIDATED BALANCE SHEET
The Bank’s contributions to its principal pension plans, principal non-
pension post-retirement benefit plan, and significant other pension and
retirement plans are as follows:
Plan Contributions
(millions of Canadian dollars) 2011 2010 2009
Principal pension plans $ 187 $ 168 $ 626
Principal non-pension post-retirement benefit plan 10 9 10
Other pension and retirement plans 20 17 18
Total $ 217 $ 194 $ 654
Estimated Contributions
In 2012, the Bank or its subsidiaries expect to contribute $190 million
to its principal pension plans, $15 million to its principal non-pension
post-retirement benefit plan, and $32 million to its other pension and
retirement plans. Future contribution amounts may change upon the
Bank’s review of its contribution levels during the year.
Estimated Future Benefit Payments
Estimated future benefit payments under the principal pension plans
are $137 million for 2012; $142 million for 2013; $146 million for
2014; $152 million for 2015; $157 million for 2016; and $867 million
for 2017 to 2021.
Estimated future benefit payments under the principal non-pension
post-retirement benefit plan are $15 million for 2012; $16 million for
2013; $17 million for 2014; $18 million for 2015; $20 million for
2016; and $120 million for 2017 to 2021.
The Bank recognized the following amounts in the Consolidated
Balance Sheet for the year ended October 31:
Amounts Recognized in the Consolidated Balance Sheet
(millions of Canadian dollars) 2011 2010
Other assets
Principal pension plans $ 986 $ 1,001
Other pension and retirement plans
CT defined benefit pension plan 63 64
TD Banknorth defined benefit retirement plan 125 158
TD Auto Finance retirement plans 26 –
Other employee future benefits – net 3 –
Prepaid pension expense 1,203 1,223
Other liabilities
Principal non-pension post-retirement benefit plan 405 384
Other pension and retirement plans
TD Banknorth defined benefit retirement plan – 28
TD Auto Finance retirement plans 122 –
Supplemental employee retirement plans 353 328
Other employee future benefits – net 191 183
Accrued benefit liability 1,071 923
Net amount recognized as at October 31 $ 132 $ 300