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Retirement Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Employee Benefits [Abstract] |
Summary of Actuarial Valuation of Plans | Actuarial Valuation of Plans
(CAD$ in millions) |  | 2024 |  | 2023
|  | 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 |  | $ | 1,929 |  |  | $ | 370 |  |  | $ | 1,834 |  |  | $ | 343 |
Current service cost |  | 29 |  |  | 16 |  |  | 39 |  |  | 22 |
Benefits paid |  | (104) |  |  | (28) |  |  | (138) |  |  | (21) |
Interest expense |  | 61 |  |  | 15 |  |  | 90 |  |  | 16 |
Sale of steelmaking coal business |  | (599) |  |  | (52) |  |  | — |  |  | — |
Obligation experience adjustments |  | 34 |  |  | (13) |  |  | 11 |  |  | (5) |
Effect from change in financial assumptions |  | (5) |  |  | (1) |  |  | 93 |  |  | 14 |
Effect from change in demographic assumptions |  | 5 |  |  | — |  |  | 1 |  |  | — |
Changes in foreign exchange rates |  | 10 |  |  | — |  |  | (1) |  |  | 1 |
Balance at end of year |  | 1,360 |  |  | 307 |  |  | 1,929 |  |  | 370 |
Fair value of plan assets |  |  |  |  |  |  |  |
Fair value at beginning of year |  | 2,491 |  |  | — |  |  | 2,371 |  |  | — |
Interest income |  | 80 |  |  | — |  |  | 117 |  |  | — |
Return on plan assets, excluding amounts included in interest income |  | 56 |  |  | — |  |  | 115 |  |  | — |
Benefits paid |  | (104) |  |  | (28) |  |  | (138) |  |  | (21) |
Sale of steelmaking coal business |  | (730) |  |  | — |  |  | — |  |  | — |
Contributions by the employer |  | 7 |  |  | 28 |  |  | 28 |  |  | 21 |
Changes in foreign exchange rates |  | 9 |  |  | — |  |  | (2) |  |  | — |
Fair value at end of year |  | 1,809 |  |  | — |  |  | 2,491 |  |  | — |
Funding surplus (deficit) |  | 449 |  |  | (307) |  |  | 562 |  |  | (370) |
Less effect of the asset ceiling |  |  |  |  |  |  |  |
Balance at beginning of year |  | 191 |  |  | — |  |  | 390 |  |  | — |
Sale of steelmaking coal business |  | (45) |  |  | — |  |  | — |  |  | — |
Interest on asset ceiling |  | 7 |  |  | — |  |  | 19 |  |  | — |
Change in asset ceiling |  | 42 |  |  | — |  |  | (218) |  |  | — |
Balance at end of year |  | 195 |  |  | — |  |  | 191 |  |  | — |
Net accrued retirement benefit asset (liability) |  | $ | 254 |  |  | $ | (307) |  |  | $ | 371 |  |  | $ | (370) |
Represented by: |  |  |  |  |  |  |  |
Pension assets (Note 20) |  | $ | 320 |  |  | $ | — |  |  | $ | 446 |  |  | $ | — |
Accrued retirement benefit liability |  | (66) |  |  | (307) |  |  | (75) |  |  | (370) |
Net accrued retirement benefit asset (liability) |  | $ | 254 |  |  | $ | (307) |  |  | $ | 371 |  |  | $ | (370) |
Summary of Defined Benefit Plans | Weighted average assumptions used to calculate the defined benefit obligation at the end of each year are as follows:
|  | December 31, 2024 |  | December 31, 2023
|  | Defined Benefit Pension Plans |  | Non-Pension Post- Retirement Benefit Plans |  | Defined Benefit Pension Plans |  | Non-Pension Post- Retirement Benefit Plans
Discount rate |  | 4.60 | % |  | 4.72 | % |  | 4.63 | % |  | 4.64 | %
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 |
|  | 2024
|  | Effect on Defined Benefit Obligation
|  | 1% Increase in Assumption |  | 1% Decrease in Assumption
Discount rate |  | Decrease by 10% |  | Increase by 11%
Rate of increase in future compensation |  | Increase by 0% |  | Decrease by 0%
Medical cost claim trend rate |  | Increase by 1% |  | Decrease by 1%
|  | 2023
|  | Effect on Defined Benefit Obligation
|  | 1% Increase in Assumption |  | 1% Decrease in Assumption
Discount rate |  | Decrease by 11% |  | Increase by 12%
Rate of increase in future compensation |  | Increase by 1% |  | Decrease by 1%
Medical cost claim trend rate |  | Increase by 1% |  | Decrease by 1%
|  | 2024 |  | 2023
|  | Male |  | Female |  | Male |  | Female
Retiring at the end of the reporting period |  | 85.4 years |  | 87.8 years |  | 85.4 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, 2024 and 2023 are as follows:
(CAD$ in millions) |  | 2024 |  | 2023
|  | Quoted |  | Unquoted |  | Total % |  | Quoted |  | Unquoted |  | Total %
Equity securities |  | $ | 559 |  |  | $ | — |  |  | 31 | % |  | $ | 829 |  |  | $ | — |  |  | 33 | %
Debt securities |  | $ | 847 |  |  | $ | — |  |  | 47 | % |  | $ | 1,138 |  |  | $ | — |  |  | 46 | %
Real estate and other |  | $ | 100 |  |  | $ | 303 |  |  | 22 | % |  | $ | 69 |  |  | $ | 455 |  |  | 21 | %

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- Definition The disclosure of the fair value of defined benefit plan assets. [Refer: Plan assets [member]; Defined benefit plans [domain]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2024-01-01 -Paragraph 142 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=19&code=ifrs-tx-2024-en-r&anchor=para_142&doctype=Standard -URIDate 2024-03-27 + 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 2024-01-01 -Paragraph 140 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=19&code=ifrs-tx-2024-en-r&anchor=para_140_a&doctype=Standard -URIDate 2024-03-27 + 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 [domain]; Defined benefit obligation, at present value] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2024-01-01 -Paragraph 145 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=19&code=ifrs-tx-2024-en-r&anchor=para_145&doctype=Standard -URIDate 2024-03-27 + Details
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