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Retirement Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2021
Employee Benefits [Abstract] |
Summary of Actuarial Valuation of Plans | Actuarial Valuation of Plans
(CAD$ in millions) |  | 2021 |  | 2020
|  | 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 |  | $ | 2,558 |  |  | $ | 445 |  |  | $ | 2,337 |  |  | $ | 404 |
Current service cost |  | 72 |  |  | 14 |  |  | 55 |  |  | 19 |
Past service costs arising from plan improvements |  | 13 |  |  | 3 |  |  | — |  |  | — |
Benefits paid |  | (144) |  |  | (14) |  |  | (146) |  |  | (17) |
Interest expense |  | 59 |  |  | 11 |  |  | 69 |  |  | 13 |
Obligation experience adjustments |  | 4 |  |  | (13) |  |  | 27 |  |  | (3) |
Effect from change in financial assumptions |  | (159) |  |  | (24) |  |  | 221 |  |  | 33 |
Effect from change in demographic assumptions |  | 4 |  |  | 3 |  |  | 1 |  |  | (3) |
Changes in foreign exchange rates |  | — |  |  | (5) |  |  | (6) |  |  | (1) |
Balance at end of year |  | 2,407 |  |  | 420 |  |  | 2,558 |  |  | 445 |
Fair value of plan assets |  |  |  |  |  |  |  |
Fair value at beginning of year |  | 2,812 |  |  | — |  |  | 2,659 |  |  | — |
Interest income |  | 66 |  |  | — |  |  | 79 |  |  | — |
Return on plan assets, excluding amounts included in interest income |  | 102 |  |  | — |  |  | 204 |  |  | — |
Benefits paid |  | (144) |  |  | (14) |  |  | (146) |  |  | (17) |
Contributions by the employer |  | 22 |  |  | 14 |  |  | 21 |  |  | 17 |
Changes in foreign exchange rates |  | — |  |  | — |  |  | (5) |  |  | — |
Fair value at end of year |  | 2,858 |  |  | — |  |  | 2,812 |  |  | — |
Funding surplus (deficit) |  | 451 |  |  | (420) |  |  | 254 |  |  | (445) |
Less effect of the asset ceiling |  |  |  |  |  |  |  |
Balance at beginning of year |  | 72 |  |  | — |  |  | 63 |  |  | — |
Interest on asset ceiling |  | 2 |  |  | — |  |  | 2 |  |  | — |
Change in asset ceiling |  | 25 |  |  | — |  |  | 7 |  |  | — |
Balance at end of year |  | 99 |  |  | — |  |  | 72 |  |  | — |
Net accrued retirement benefit asset (liability) |  | $ | 352 |  |  | $ | (420) |  |  | $ | 182 |  |  | $ | (445) |
Represented by: |  |  |  |  |  |  |  |
Pension assets (Note 13) |  | $ | 449 |  |  | $ | — |  |  | $ | 301 |  |  | $ | — |
Accrued retirement benefit liability |  | (97) |  |  | (420) |  |  | (119) |  |  | (445) |
Net accrued retirement benefit asset (liability) |  | $ | 352 |  |  | $ | (420) |  |  | $ | 182 |  |  | $ | (445) |
Summary of Defined Benefit Plans |
|  | 2021 |  | 2020
|  | Defined Benefit Pension Plans |  | Non-Pension Post- Retirement Benefit Plans |  | Defined Benefit Pension Plans |  | Non-Pension Post- Retirement Benefit Plans
Discount rate |  | 2.88 | % |  | 2.96 | % |  | 2.39 | % |  | 2.50 | %
Rate of increase in future compensation |  | 3.25 | % |  | 3.25 | % |  | 3.25 | % |  | 3.25 | %
Medical trend rate |  | — |  |  | 5.00 | % |  | — |  |  | 5.00 | %
Summary of Sensitivity of Defined Benefit Obligation to Changes in Weighted Average Assumptions |
|  | 2021
|  | 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 1% |  | Decrease by 1%
|  | 2020
|  | Effect on Defined Benefit Obligation
|  | Change in Assumption |  | Increase in Assumption |  | Decrease in Assumption
Discount rate |  | 1.0 | % |  | Decrease by 12% |  | Increase by 14%
Rate of increase in future compensation |  | 1.0 | % |  | Increase by 1% |  | Decrease by 1%
Medical cost claim trend rate |  | 1.0 | % |  | Increase by 1% |  | Decrease by 1%
|  | 2021 |  | 2020
|  | Male |  | Female |  | Male |  | Female
Retiring at the end of the reporting period |  | 85.3 years |  | 87.7 years |  | 85.3 years |  | 87.7 years
Retiring 20 years after the end of the reporting period |  | 86.4 years |  | 88.7 years |  | 86.4 years |  | 88.7 years
Summary of Defined Benefit Pension Plan Assets | The defined benefit pension plan assets at December 31, 2021 and 2020 are as follows:
(CAD$ in millions) |  | 2021 |  | 2020
|  | Quoted |  | Unquoted |  | Total % |  | Quoted |  | Unquoted |  | Total %
Equity securities |  | $ | 1,069 |  |  | $ | — |  |  | 37 | % |  | $ | 1,058 |  |  | $ | — |  |  | 38 | %
Debt securities |  | $ | 1,389 |  |  | $ | — |  |  | 49 | % |  | $ | 1,385 |  |  | $ | — |  |  | 49 | %
Real estate and other |  | $ | 71 |  |  | $ | 329 |  |  | 14 | % |  | $ | 62 |  |  | $ | 307 |  |  | 13 | %

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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 2021-01-01 -Paragraph 142 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=19&code=ifrs-tx-2021-en-r&anchor=para_142&doctype=Standard -URIDate 2021-03-24 + 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 2021-01-01 -Paragraph 140 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=19&code=ifrs-tx-2021-en-r&anchor=para_140_a&doctype=Standard -URIDate 2021-03-24 + 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 2021-01-01 -Paragraph 145 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=19&code=ifrs-tx-2021-en-r&anchor=para_145&doctype=Standard -URIDate 2021-03-24 + Details
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