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Pension Plans and Other Post-Retirement Benefits (Tables) | 12 Months Ended
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Dec. 31, 2022
Employee Benefits [Abstract] |
Schedule of benefit obligations in excess of fair value of plan assets | The following tables set forth the status of the defined benefit pension and other post-retirement benefit plans:
|  | 2022 |  | 2021
| Pension | Other post-retirement |  | Total |  | Pension | Other post-retirement |  | Total
Change in defined benefit obligations: |  |  |  |  |  |  |  |  |  |  |  |
Defined benefit obligation, January 1 |  | $ | 3,836 |  |  | $ | 252 |  |  | $ | 4,088 |  |  | $ | 4,060 |  |  | $ | 277 |  |  | $ | 4,337 |
Current service cost |  | 49 |  |  | 7 |  |  | 56 |  |  | 59 |  |  | 7 |  |  | 66 |
Interest cost |  | 106 |  |  | 8 |  |  | 114 |  |  | 98 |  |  | 7 |  |  | 105 |
Actuarial losses (gains) |  | (1,027) |  |  | (51) |  |  | (1,078) |  |  | (169) |  |  | (23) |  |  | (192) |
Benefits paid |  | (194) |  |  | (14) |  |  | (208) |  |  | (192) |  |  | (15) |  |  | (207) |
Foreign exchange rate movement |  | (7) |  |  | 4 |  |  | (3) |  |  | (20) |  |  | (1) |  |  | (21) |
Defined benefit obligation, December 31 |  | $ | 2,763 |  |  | $ | 206 |  |  | $ | 2,969 |  |  | $ | 3,836 |  |  | $ | 252 |  |  | $ | 4,088 |
Change in plan assets: |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets, January 1 |  | $ | 3,643 |  |  | $ | — |  |  | $ | 3,643 |  |  | $ | 3,909 |  |  | $ | — |  |  | $ | 3,909 |
Administrative expense |  | (1) |  |  | — |  |  | (1) |  |  | (1) |  |  | — |  |  | (1) |
Interest income on plan assets |  | 101 |  |  | — |  |  | 101 |  |  | 92 |  |  | — |  |  | 92 |
Return on plan assets (excluding amounts included in net interest expense) |  | (825) |  |  | — |  |  | (825) |  |  | (234) |  |  | — |  |  | (234) |
Employer contributions |  | 85 |  |  | 14 |  |  | 99 |  |  | 94 |  |  | 15 |  |  | 109 |
Benefits paid |  | (194) |  |  | (14) |  |  | (208) |  |  | (192) |  |  | (15) |  |  | (207) |
Foreign exchange rate movement |  | (10) |  |  | — |  |  | (10) |  |  | (25) |  |  | — |  |  | (25) |
Fair value of plan assets, December 31 |  | $ | 2,799 |  |  | $ | — |  |  | $ | 2,799 |  |  | $ | 3,643 |  |  | $ | — |  |  | $ | 3,643 |
Amounts recognized on Statement of Financial Position: |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets |  | $ | 2,799 |  |  | $ | — |  |  | $ | 2,799 |  |  | $ | 3,643 |  |  | $ | — |  |  | $ | 3,643 |
Defined benefit (obligation) | (2,763) |  |  | (206) |  |  | (2,969) |  |  | (3,836) |  |  | (252) |  |  | (4,088) |
Net recognized (liability) asset, December 31 |  | $ | 36 |  |  | $ | (206) |  |  | $ | (170) |  |  | $ | (193) |  |  | $ | (252) |  |  | $ | (445) |
Components of net benefit expense recognized: |  |  |  |  |  |  |  |  |  |  |  |
Current service cost |  | $ | 49 |  |  | $ | 7 |  |  | $ | 56 |  |  | $ | 59 |  |  | $ | 7 |  |  | $ | 66 |
Administrative expense |  | 1 |  |  | — |  |  | 1 |  |  | 1 |  |  | — |  |  | 1 |
Net interest expense (income) |  | 5 |  |  | 8 |  |  | 13 |  |  | 6 |  |  | 7 |  |  | 13 |
Other long-term employee benefit losses (gains) |  | — |  |  | (6) |  |  | (6) |  |  | — |  |  | (3) |  |  | (3) |
Net benefit expense |  | $ | 55 |  |  | $ | 9 |  |  | $ | 64 |  |  | $ | 66 |  |  | $ | 11 |  |  | $ | 77 |
Remeasurement of net recognized (liability) asset: |  |  |  |  |  |  |  |  |  |  |  |
Return on plan assets (excluding amounts included in net interest expense) |  | $ | (825) |  |  | $ | — |  |  | $ | (825) |  |  | $ | (234) |  |  | $ | — |  |  | $ | (234) |
Actuarial gains (losses) arising from changes in demographic assumptions |  | 18 |  |  | — |  |  | 18 |  |  | 2 |  |  | — |  |  | 2 |
Actuarial gains (losses) arising from changes in financial assumptions |  | 1,027 |  |  | 45 |  |  | 1,072 |  |  | 187 |  |  | 13 |  |  | 200 |
Actuarial gains (losses) arising from experience adjustments |  | (18) |  |  | — |  |  | (18) |  |  | (20) |  |  | 7 |  |  | (13) |
Foreign exchange rate movement | (1) |  |  | (3) |  |  | (4) |  |  | (3) |  |  | — |  |  | (3) |
Components of defined benefit costs recognized in Other comprehensive income (loss) | $ | 201 |  |  | $ | 42 |  |  | $ | 243 |  |  | $ | (68) |  |  | $ | 20 |  |  | $ | (48) |
Schedule of assumptions used |
|  | 2022 |  | 2021
|  | Canada % |  | UK % |  | U.S. % | Canada % |  | UK % |  | U.S. %
To determine defined benefit obligation at end of year: |  |  |  |  |  |  |  |  |  |
Discount rate for pension plans |  | 5.00 |  |  | 4.75 |  |  | 5.55 |  |  | 3.00 |  |  | 1.90 |  |  | 3.00 |
Rate of compensation increase |  | 2.75 |  |  | n/a |  | n/a |  | 2.80 |  |  | n/a |  | n/a
Pension increases |  | 0.00-0.05 |  | 3.05 |  |  | n/a |  | 0.00-0.05 |  | 3.30 |  |  | n/a
To determine net benefit expense for year: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate for pension plans |  | 3.00 |  |  | 1.90 |  |  | 3.00 |  |  | 2.70 |  |  | 1.30 |  |  | 2.65 |
Rate of compensation increase |  | 2.80 |  |  | n/a |  | n/a |  | 2.80 |  |  | n/a |  | n/a
Pension increases |  | 0.00-0.05 |  | 3.30 |  |  | n/a |  | 0.00-0.05 |  | 2.95 |  |  | n/a
Health care trend rates: |  |  |  |  |  |  |  |  |  |  |  |
Initial health care trend rate |  | 5.16 |  |  | n/a |  | 7.00 |  |  | 5.10 |  |  | n/a |  | 6.50 |
Ultimate health care trend rate |  | 4.00 |  |  | n/a |  | 5.00 |  |  | 4.00 |  |  | n/a |  | 5.00 |
Year ultimate health care trend rate reached |  | 2040 |  |  | n/a |  | 2031 |  |  | 2040 |  |  | n/a |  | 2025 |
|  | 2022 |  | 2021
|  | Canada |  | UK |  | U.S. | Canada |  | UK |  | U.S.
Mortality rates: |  |  |  |  |  |  |  |  |  |  |  |
Life expectancy (in years) for individuals currently at age 65: |  |  |  |  |  |  |  |  |  |  |  |
Male |  | 23 |  |  | 23 |  |  | 22 |  |  | 23 |  |  | 23 |  |  | 22 |
Female |  | 25 |  |  | 25 |  |  | 23 |  |  | 25 |  |  | 25 |  |  | 23 |
Life expectancy (in years) at 65 for individuals currently at age 45: |  |  |  |  |  |  |  |  |  |  |  |
Male |  | 24 |  |  | 25 |  |  | 23 |  |  | 24 |  |  | 24 |  |  | 23 |
Female |  | 26 |  |  | 27 |  |  | 25 |  |  | 26 |  |  | 27 |  |  | 25 |
Average duration (in years) of pension obligation |  | 13.2 |  | 12.9 |  | 10.0 |  | 16.9 |  | 17.4 |  | 12.2
Schedule of effect of percentage-point changes for sensitives | The impact of changes in each key assumption may result in greater than proportional changes in sensitivities.
| Pension | Post-retirement benefits
Interest/discount rate sensitivity:(1) |  |  |  |
1% decrease |  | $ | 391 |  |  | $ | 20 |
1% increase |  | $ | (309) |  |  | $ | (17) |
Rate of compensation increase assumption: |  |  |  |
1% decrease |  | $ | (39) |  |  | n/a
1% increase |  | $ | 44 |  |  | n/a
Health care trend rate assumption: |  |  |  |
1% decrease |  | n/a |  | $ | (10) |
1% increase |  | n/a |  | $ | 12 |
Mortality rates:(2) |  |  |  |
10% decrease |  | $ | 64 |  |  | $ | 3 |
(1) Represents a parallel shift in interest rates across the entire yield curve, resulting in a change in the discount rate assumption. (2) Represents 10% decrease in mortality rates at each age.
Schedule of allocation of plan assets | Composition of fair value of plan assets, December 31:
|  | 2022 |  | 2021
Equity investments |  | 3 | % |  | 3 | %
Fixed income investments |  | 65 | % |  | 64 | %
Real estate investments |  | 11 | % |  | 9 | %
Qualifying insurance contract |  | 15 | % |  | 19 | %
Other |  | 6 | % |  | 5 | %
Total composition of fair value of plan assets |  | 100 | % |  | 100 | %
Schedule of expected future benefit contributions and benefit payments | The following tables set forth the expected contributions and expected future benefit payments of the defined benefit pension and other post-retirement benefit plans:
| Pension | Post-retirement |  | Total
Expected contributions for the next 12 months |  | $ | 70 |  |  | $ | 16 |  |  | $ | 86 |
Expected Future Benefit Payments
|  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 | 2028 to 2032
Pension |  | $ | 158 |  |  | $ | 159 |  |  | $ | 167 |  |  | $ | 171 |  |  | $ | 174 |  |  | $ | 911 |
Post-retirement |  | 16 |  |  | 17 |  |  | 17 |  |  | 18 |  |  | 18 |  |  | 97 |
Total |  | $ | 174 |  |  | $ | 176 |  |  | $ | 184 |  |  | $ | 189 |  |  | $ | 192 |  |  | $ | 1,008 |

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