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Retirement Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2017
Text block1 [abstract] |
Summary of Actuarial Valuation of Plans |
a) | Actuarial Valuation of Plans
|  | 2017 |  |  | 2016 |
(CAD$ in millions) |  | Defined Benefit Pension Plans |  |  | Non-Pension Post- Retirement Benefit Plans |  |  | Defined Benefit Pension Plans |  |  | Non-Pension Post- Retirement Benefit Plans |
Defined benefit obligation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of year |  | $ | 2,106 |  |  | $ | 538 |  |  | $ | 2,112 |  |  | $ | 518 |
Current service cost |  |  | 48 |  |  |  | 24 |  |  |  | 46 |  |  |  | 21 |
Past service costs arising from plan improvements |  |  | 10 |  |  |  | — |  |  |  | 7 |  |  |  | 1 |
Benefits paid |  |  | (153 | ) |  |  | (23 | ) |  |  | (151 | ) |  |  | (19 | )
Interest expense |  |  | 79 |  |  |  | 22 |  |  |  | 79 |  |  |  | 21 |
Obligation experience adjustments |  |  | 27 |  |  |  | (22 | ) |  |  | (8 | ) |  |  | 2 |
Effect from change in financial assumptions |  |  | 119 |  |  |  | 25 |  |  |  | 33 |  |  |  | 8 |
Effect from change in demographic assumptions |  |  | — |  |  |  | (104 | ) |  |  | (6 | ) |  |  | (13 | )
Changes in foreign exchange rates |  |  | (12 | ) |  |  | (5 | ) |  |  | (6 | ) |  |  | (1 | )
Balance at end of year |  |  | 2,224 |  |  |  | 455 |  |  |  | 2,106 |  |  |  | 538 |
Fair value of plan assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value at beginning of year |  |  | 2,342 |  |  |  | — |  |  |  | 2,312 |  |  |  | — |
Interest income |  |  | 88 |  |  |  | — |  |  |  | 87 |  |  |  | — |
Return on plan assets, excluding amounts included in interest income |  |  | 212 |  |  |  | — |  |  |  | 63 |  |  |  | — |
Benefits paid |  |  | (153 | ) |  |  | (23 | ) |  |  | (151 | ) |  |  | (19 | )
Contributions by the employer |  |  | 31 |  |  |  | 23 |  |  |  | 36 |  |  |  | 19 |
Changes in foreign exchange rates |  |  | (10 | ) |  |  | — |  |  |  | (5 | ) |  |  | — |
Fair value at end of year |  |  | 2,510 |  |  |  | — |  |  |  | 2,342 |  |  |  | — |
Funding surplus (deficit) |  |  | 286 |  |  |  | (455 | ) |  |  | 236 |  |  |  | (538 | )
Less effect of the asset ceiling |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of year |  |  | 58 |  |  |  | — |  |  |  | 36 |  |  |  | — |
Interest on asset ceiling |  |  | 3 |  |  |  | — |  |  |  | 1 |  |  |  | — |
Change in asset ceiling |  |  | (17 | ) |  |  | — |  |  |  | 21 |  |  |  | — |
Balance at end of year |  |  | 44 |  |  |  | — |  |  |  | 58 |  |  |  | — |
Net accrued retirement benefit asset (liability) |  | $ | 242 |  |  | $ | (455 | ) |  | $ | 178 |  |  | $ | (538 | )
Represented by: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pension assets (Note 13) |  | $ | 339 |  |  | $ | — |  |  | $ | 283 |  |  | $ | — |
Accrued retirement benefit liability |  |  | (97 | ) |  |  | (455 | ) |  |  | (105 | ) |  |  | (538 | )
Net accrued retirement benefit asset (liability) |  | $ | 242 |  |  | $ | (455 | ) |  | $ | 178 |  |  | $ | (538 | )
Summary of Weighted Average Assumptions Used to Calculate the Defined Benefit Obligation | Weighted average assumptions used to calculate the defined benefit obligation at the end of each year are as follows:
|  | 2017 |  |  | 2016 |
|  | Defined Benefit Pension Plans |  |  | Non-Pension Post- Retirement Benefit Plans |  |  | Defined Benefit Pension Plans |  |  | Non-Pension Post- Retirement Benefit Plans |
Discount rate |  |  | 3.36 | % |  |  | 3.44 | % |  |  | 3.74 | % |  |  | 3.79 | %
Rate of increase in future compensation |  |  | 3.25 | % |  |  | 3.25 | % |  |  | 3.25 | % |  |  | 3.25 | %
Initial medical trend rate |  |  | — |  |  |  | 5.00 | % |  |  | — |  |  |  | 5.50 | %
Ultimate medical trend rate |  |  | — |  |  |  | 5.00 | % |  |  | — |  |  |  | 5.00 | %
Years to reach ultimate medical trend rate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2 |
Summary of Sensitivity of Defined Benefit Obligation to Changes in Weighted Average Assumptions |
c) | Sensitivity of the defined benefit obligation to changes in the weighted average assumptions:
|  | 2017 |
|  | Effect on Defined Benefit Obligation |
|  | Change in Assumption |  |  | Increase in Assumption |  |  | Decrease in Assumption |
Discount rate |  |  | 1.0 | % |  |  | Decrease by 15 | % |  |  | Increase by 17 | %
Rate of increase in future compensation |  |  | 1.0 | % |  |  | Increase by 1 | % |  |  | Decrease by 1 | %
Medical cost claim trend rate |  |  | 1.0 | % |  |  | Increase by 2 | % |  |  | Decrease by 2 | %
|  | 2016 |
|  | Effect on Defined Benefit Obligation |
|  | Change in Assumption |  |  | Increase in Assumption |  |  | Decrease in Assumption |
Discount rate |  |  | 1.0 | % |  |  | Decrease by 13 | % |  |  | Increase by 15 | %
Rate of increase in future compensation |  |  | 1.0 | % |  |  | Increase by 1 | % |  |  | Decrease by 1 | %
Medical cost claim trend rate |  |  | 1.0 | % |  |  | Increase by 2 | % |  |  | Decrease by 2 | %
Summary of Life Expectancies for Employee Retiring at Age 65 | Assumptions regarding future mortality are set based on management’s best estimate in accordance with published mortality tables and expected experience. These assumptions translate into the following average life expectancies for an employee retiring at age 65:
|  | 2017 |  |  | 2016 |
|  | Male |  |  | Female |  |  | Male |  |  | Female |
Retiring at the end of the reporting period |  |  | 85.2 years |  |  |  | 87.6 years |  |  |  | 85.1 years |  |  |  | 87.6 years |
Retiring 20 years after the end of the reporting period |  |  | 86.3 years |  |  |  | 88.6 years |  |  |  | 86.3 years |  |  |  | 88.6 years |
Summary of Defined Benefit Pension Plan Assets | The defined benefit pension plan assets at December 31, 2017 and 2016 are as follows:
|  | 2017 |  |  | 2016 |
(CAD$ in millions) |  | Quoted |  |  | Unquoted |  |  | Total % |  |  | Quoted |  |  | Unquoted |  |  | Total % |
Equity securities |  | $ | 1,184 |  |  | $ | — |  |  |  | 47 | % |  | $ | 1,124 |  |  | $ | — |  |  |  | 48 | %
Debt securities |  | $ | 935 |  |  | $ | — |  |  |  | 37 | % |  | $ | 850 |  |  | $ | — |  |  |  | 36 | %
Real estate and other |  | $ | 74 |  |  | $ | 317 |  |  |  | 16 | % |  | $ | 49 |  |  | $ | 319 |  |  |  | 16 | %

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- Definition The disclosure of the fair value of defined benefit plan assets. [Refer: Plan assets [member]; Defined benefit plans [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2017-01-01 -Paragraph 142 -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=19&date=2017-03-01&anchor=para_142&doctype=Standard -URIDate 2017-03-09 + Details
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- Definition The disclosure of a net defined benefit liability (asset). [Refer: Net defined benefit liability (asset)] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2017-01-01 -Paragraph 140 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=19&date=2017-03-01&anchor=para_140_a&doctype=Standard -URIDate 2017-03-09 + Details
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- Definition The disclosure of a sensitivity analysis for significant actuarial assumptions used to determine the present value of a defined benefit obligation. [Refer: Actuarial assumptions [member]; Defined benefit obligation, at present value] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2017-01-01 -Paragraph 145 -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=19&date=2017-03-01&anchor=para_145&doctype=Standard -URIDate 2017-03-09 + Details
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- Definition The disclosure of defined benefit obligation weighted average assumptions. + References No definition available. + Details
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- Definition The disclosure of life expectation of an average plan participant. + References No definition available. + Details
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