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Employee Future Benefits (Tables)
 12 Months Ended
Dec. 31, 2021
Text block [abstract]  
Summary of Pension and Retiree Welfare Plans
(c) Pension and retiree welfare plans
 
    Pension plans           Retiree welfare plans  
For the years ended December 31,
  
2021
     2020          
2021
     2020  
Changes in defined benefit obligation:
                                        
Opening balance
  
$
4,901
 
   $   4,817            
$
638
 
   $ 645  
Current service cost
  
 
44
 
     41            
 
–
 
     –  
Interest cost
  
 
115
 
     150            
 
15
 
     20  
Plan participants’ contributions
  
 
–
 
     –            
 
3
 
     3  
Actuarial losses (gains) due to:
                                        
Experience
  
 
3
 
     2            
 
–
 
     (14 ) 
Demographic assumption changes
  
 
7
 
     (67 )           
 
1
 
     (12 ) 
Economic assumption changes
  
 
(194
) 
     333            
 
(29
) 
     49  
Benefits paid
  
 
(303
) 
     (318 )           
 
(42
) 
     (45 ) 
Impact of changes in foreign exchange rates
  
 
(13
) 
     (57 )           
 
(2
) 
     (8 ) 
Defined benefit obligation, December 31
  
$
  4,560
 
   $ 4,901            
$
  584
 
   $   638  
       
    Pension plans           Retiree welfare plans  
For the years ended December 31,
  
2021
     2020          
2021
     2020  
Change in plan assets:
                                        
Fair value of plan assets, opening balance
  
$
4,595
 
   $ 4,453            
$
606
 
   $   598  
Interest income
  
 
109
 
     140            
 
14
 
     19  
Return on plan assets (excluding interest income)
  
 
70
 
     310            
 
(1
) 
     33  
Employer contributions
  
 
61
 
     71            
 
11
 
     11  
Plan participants’ contributions
  
 
–
 
     –            
 
3
 
     3  
Benefits paid
  
 
(303
) 
     (318 )           
 
(42
) 
     (45 ) 
Administration costs
  
 
(9
) 
     (7 )           
 
(2
) 
     (2 ) 
Impact of changes in foreign exchange rates
  
 
(13
) 
     (54 )           
 
(2
) 
     (11 ) 
Fair value of plan assets, December 31
  
$
  4,510
 
   $ 4,595            
$
587
 
   $   606  
 
Summary of Amounts Recognized in Consolidated Statements of Financial Position
(d) Amounts recognized in the Consolidated Statements of Financial Position
 
    Pension plans           Retiree welfare plans  
As at December 31,
  
2021
     2020          
2021
     2020  
Development of net defined benefit liability
                                        
Defined benefit obligation
  
$
4,560
 
   $   4,901            
$
584
 
   $   638  
Fair value of plan assets
  
 
4,510
 
     4,595            
 
587
 
     606  
Deficit (surplus)
  
 
50
 
     306            
 
(3
) 
     32  
Effect of asset limit
(1)
  
 
37
 
     –            
 
–
 
     –  
Deficit (surplus) and net defined benefit liability (asset)
  
 
87
 
     306            
 
(3
) 
     32  
Deficit is comprised of:
                                        
Funded or partially funded plans
  
 
(600
) 
     (446 )           
 
(154
) 
     (134 ) 
Unfunded plans
  
 
687
 
     752            
 
151
 
     166  
Deficit (surplus) and net defined benefit liability (asset)
  
$
    87
 
   $ 306            
$
(3
) 
   $ 32  
Summary of Disaggregation of Defined Benefit Obligation
(e) Disaggregation of defined benefit obligation
 
    U.S. plans           Canadian plans  
    Pension plans     Retiree welfare plans           Pension plans     Retiree welfare plans  
As at December 31,
  
2021
     2020    
2021
     2020          
2021
     2020    
2021
     2020  
Active members
  
$
537
 
   $ 551    
$
17
 
   $ 27            
$
184
 
   $ 211    
$
–
 
   $ –  
Inactive and retired members
  
 
2,371
 
     2,528    
 
416
 
     445            
 
1,468
 
     1,611    
 
151
 
     166  
Total
  
$
    2,908
 
   $   3,079    
$
    433
 
   $   472            
$
    1,652
 
   $   1,822    
$
    151
 
   $   166  
Summary of Major Categories of Plan Assets and Actual Per Cent Allocation to Each Category
(f) Fair value measurements
The major categories of plan assets and the allocation to each category are as follows.
 
    U.S. plans
(1)
           Canadian plans
(2)
  
    Pension plans     Retiree welfare plans           Pension plans     Retiree welfare plans  
As at December 31, 2021
   Fair value     % of total     Fair value     % of total           Fair value     % of total     Fair value     % of total  
Cash and cash equivalents
  
$
90
 
  
 
3%
 
  
$
    21
 
  
 
4%
 
          
$
14
 
  
 
1%
 
  
$
–
 
  
 
–
 
Public equity securities
(3)
  
 
600
 
  
 
20%
 
  
 
57
 
  
 
10%
 
          
 
322
 
  
 
22%
 
  
 
–
 
  
 
–
 
Public debt securities
  
 
1,863
 
  
 
61%
 
  
 
501
 
  
 
85%
 
          
 
1,144
 
  
 
77%
 
  
 
–
 
  
 
–
 
Other investments
(4)
  
 
475
 
  
 
16%
 
  
 
8
 
  
 
1%
 
          
 
2
 
  
 
0%
 
  
 
–
 
  
 
–
 
Total
  
$
3,028
 
  
 
100%
 
  
$
587
 
  
 
100%
 
          
$
1,482
 
  
 
100%
 
  
$
–
 
  
 
–
 
       
    U.S. plans
(1)
           Canadian plans
(2)
  
    Pension plans     Retiree welfare plans           Pension plans     Retiree welfare plans  
As at December 31, 2020   Fair value     % of total     Fair value     % of total           Fair value     % of total     Fair value     % of total  
Cash and cash equivalents
   $ 83       3%     $ 30       5%             $ 10       1%     $ –       –  
Public equity securities
(3)
     593       19%       49       8%               339       22%       –       –  
Public debt securities
     2,009       66%       520       86%               1,186       77%       –       –  
Other investments
(4)
     373       12%       7       1%               2       0%       –       –  
Total
   $    3,058       100%     $ 606       100%             $    1,537       100%     $             –       –  
Summary of Components of Net Benefit Cost for Pension Plans and Retiree Welfare Plans
(g) Net benefit cost recognized in the Consolidated Statements of Income
Components of the net benefit cost for the pension plans and retiree welfare plans were as follows.
 
    Pension plans           Retiree welfare plans  
For the years ended December 31,
  
2021
     2020          
2021
     2020  
Defined benefit current service cost
  
$
44
 
   $ 41            
$
–
 
   $ –  
Defined benefit administrative expenses
  
 
9
 
     7            
 
2
 
     2  
Service cost
  
 
53
 
     48            
 
2
 
     2  
Interest on net defined benefit (asset) liability
  
 
6
 
     10            
 
1
 
     1  
Defined benefit cost
  
 
59
 
     58            
 
3
 
     3  
Defined contribution cost
  
 
90
 
     84            
 
–
 
     –  
Net benefit cost
  
$
    149
 
   $       142            
$
    3
 
   $         3  
Summary of Re-measurement Effects Recognized in Other Comprehensive Income
(h)
Re-measurement
effects recognized in Other Comprehensive Income
 
    Pension plans           Retiree welfare plans  
For the years ended December 31,
  
2021
     2020          
2021
     2020  
Actuarial gains (losses) on defined benefit obligations due to:
                                        
Experience
  
$
(3
) 
   $ (2 )           
$
–
 
   $ 14  
Demographic assumption changes
  
 
(7
) 
     67            
 
(1
) 
     12  
Economic assumption changes
  
 
194
 
     (333 )           
 
29
 
     (49 ) 
Return on plan assets (excluding interest income)
  
 
70
 
     310            
 
(1
) 
     33  
Change in effect of asset limit
  
 
(37
) 
     5            
 
–
 
     –  
Total
re-measurement
effects
  
$
    217
 
   $         47            
$
    27
 
   $       10  
Summary of Key Assumptions Used by to Determine Defined Benefit Obligation and Net Benefit Cost for Defined Benefit Pension Plans and Retiree Welfare Plans
The key assumptions used by the Company to determine the defined benefit obligation and net benefit cost for the defined benefit pension plans and retiree welfare plans were as follows.
 
    U.S. Plans            Canadian Plans  
    Pension plans     Retiree welfare plans            Pension plans     Retiree welfare plans  
For the years ended December 31,
  
2021
     2020    
2021
     2020           
2021
     2020    
2021
     2020  
To determine the defined benefit obligation at end of year
(1)
:
                                                                        
Discount rate
  
 
2.7%
 
     2.4%    
 
2.7%
 
     2.4%            
 
3.1%
 
     2.5%    
 
3.2%
 
     2.6%  
Initial health care cost trend rate
(2)
  
 
n/a
 
     n/a    
 
7.0%
 
     7.3%            
 
n/a
 
     n/a    
 
5.4%
 
     5.5%  
To determine the defined benefit cost for the year
(1)
:
                                                                        
Discount rate
  
 
2.4%
 
     3.2%    
 
2.4%
 
     3.2%            
 
2.5%
 
     3.1%    
 
2.6%
 
     3.1%  
Initial health care cost trend rate
(2)
  
 
n/a
 
     n/a    
 
7.3%
 
     7.5%    
 
 
 
  
 
n/a
 
     n/a    
 
5.5%
 
     5.6%  
Summary of Life Expectancies Underlying Values of Obligations in Defined Benefit Pension and Retiree Welfare Plans The current life expectancies underlying the values of the obligations in the defined benefit pension and retiree welfare plans are as follows.
 
As at December 31, 2021
   U.S.     Canada  
Life expectancy (in years) for those currently age 65
                
Males
  
 
22.0
 
  
 
23.8
 
Females
  
 
23.6
 
  
 
25.7
 
Life expectancy (in years) at age 65 for those currently age 45
                
Males
  
 
23.4
 
  
 
24.8
 
Females
  
 
24.9
 
  
 
26.6
 
 
Summary of Potential Impact on Obligations Arising From Changes in Key Assumptions The potential impact on the obligations arising from changes in the key assumptions is set out in the following table. The sensitivities assume all other assumptions are held constant. In actuality, inter-relationships with other assumptions may exist.
 
As at December 31, 2021
   Pension plans     Retiree welfare plans  
Discount rate:
                
Impact of a 1% increase
  
$
(417
) 
  
$
(58
) 
Impact of a 1% decrease
  
 
492
 
  
 
70
 
Health care cost trend rate:
                
Impact of a 1% increase
  
 
n/a
 
  
 
17
 
Impact of a 1% decrease
  
 
n/a
 
  
 
(15
) 
Mortality rates
(1)
                
Impact of a 10% decrease
  
 
    130
 
  
 
    15
 
 
(1)
If the actuarial estimates of mortality are adjusted in the future to reflect unexpected decreases in mortality, the effect of a 10% decrease in mortality rates at each future age would be an increase in life expectancy at age 65 of 0.8 years for U.S. and Canadian males and females, respectively.
Summary of Weighted Average Duration of the Defined Benefit Obligations
(k) Maturity profile
The weighted average duration (in years) of the defined benefit obligations is as follows.
 
    Pension plans           Retiree welfare plans  
As at December 31,
  
2021
     2020          
2021
     2020  
U.S. plans
  
 
9.7
 
     9.9            
 
9.5
 
     9.8  
Canadian plans
  
 
    12.4
 
       12.5            
 
13.3
 
                 14.3  
Summary of Cash Payments
(l) Cash flows – contributions
Total cash payments for all employee future benefits, comprised of cash contributed by the Company to funded defined benefit pension and retiree welfare plans, cash payments directly to beneficiaries in respect of unfunded pension and retiree welfare plans, and cash contributed to defined contribution pension plans, are as follows.
 
    Pension plans           Retiree welfare plans  
For the years ended December 31,
  
2021
     2020          
2021
     2020  
Defined benefit plans
  
$
61
 
   $ 71            
$
11
 
   $ 11  
Defined contribution plans
  
 
90
 
     84            
 
–
 
     –  
Total
  
$
        151
 
   $   155            
$
        11
 
   $         11