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Employee Defined Benefit Obligations (Tables)
 12 Months Ended
Dec. 31, 2018
Text block [abstract]  
Summary of Employee Defined Benefit Obligations
                 December 31                   December 31  
     2018     2017  
      $     $  

Net defined benefit pension asset

      (10.0 )      (12.7 ) 

Net defined benefit pension liability

      55.5       31.2  

End of employment benefit plans

      13.1       13.6  
      68.6     44.8  
Summary of Reconciliation for Net Defined Benefit Liability

The following table shows a reconciliation from the opening balances to the closing balances for the net defined benefit liability and its components:

 

            2018                   2017         
         Net           Net  
     Defined       Fair Value       Defined       Defined       Fair Value       Defined  
     Benefit       of Plan       Benefit       Benefit       of Plan       Benefit  
     Obligation       Assets       Liability       Obligation       Assets       Liability  
     $       $       $       $       $       $  

Balance, beginning of the year

      397.7       (379.2 )      18.5       374.6       (324.1 )      50.5  

Acquisition of PBA

      80.9       (64.4 )      16.5       -       -       -  

Included in pre-tax profit or loss

             

Interest expense (income)

      10.8       (10.2 )      0.6       10.4       (8.9 )      1.5  

Past service cost

      10.5       -       10.5       -       -       -  
Administrative expenses paid by the Plans    -     1.7     1.7     -     1.0     1.0  
       21.3       (8.5 )      12.8       10.4       (7.9 )      2.5  

Included in other comprehensive income

             

Return on the plan assets (excluding interest income)

      -       17.4       17.4       -       (30.1 )      (30.1 ) 

Actuarial (gains) losses arising from:

             

Changes in demographic assumptions

      (0.8 )      -       (0.8 )      (8.1 )      -       (8.1 ) 

Changes in financial assumptions

      (9.3 )      -       (9.3 )      29.5       -       29.5  

Experience adjustments

      5.5       -       5.5       (5.3 )      -       (5.3 ) 

Effect of movement in exchange rates

      11.5       (10.3 )      1.2       10.2       (9.4 )      0.8  
       6.9       7.1       14.0       26.3       (39.5 )      (13.2 ) 

Other

             

Benefits paid

      (12.5 )      12.3       (0.2 )      (13.6 )      13.6       -  

Contributions by employer

      -       (16.1 )      (16.1 )      -       (21.3 )      (21.3 ) 
       (12.5 )      (3.8 )      (16.3 )      (13.6 )      (7.7 )      (21.3 ) 

Balance, end of the year

      494.3       (448.8 )      45.5       397.7       (379.2 )      18.5  

 

               December 31                 December 31  
     2018     2017  
      $     $  

Included in the statement of financial position as:

     

  Net defined benefit asset

      (10.0 )      (12.7 ) 
  Net defined benefit liability    55.5     31.2  
      45.5     18.5  
Summary of Net Defined Benefit Asset

 

                      December 31                  December 31  
            2018      2017  
      Note      $      $  

Included in the statement of income as:

         

  Continuing operations - administrative and marketing expenses

         6.6        1.5  

  Discontinued operations

      8        6.2        1.0  
                12.8        2.5  
Summary of Major Categories of Plan Assets, Measured at Fair Value

Major categories of plan assets, measured at fair value, are as follows:

                        December 31                  December 31  
            2018      2017  
              $      $  

Cash and cash equivalents

         3.3        2.9  

Investments quoted in active markets (mutual, exchange-traded, and pooled funds):

         

  Equities

         138.1        110.1  

  Corporate bonds and fixed income

         57.5        45.0  

  Pooled fund liability-driven investments

         15.5        -  

  Property funds

         10.6        6.6  

Unquoted investments:

         

  Annuity policies

         110.8        102.9  

  Insurance contract:

         

    Equities and property

         80.2        69.5  

    Corporate bonds

         19.2        22.7  

    Cash and cash equivalents

               13.6        19.5  

  Fair value of the plan assets

               448.8        379.2  
Summary of Principal Assumptions Used In Determining Pension Benefit Obligations

The principal assumptions used in determining pension benefit obligations for the Plans are shown below (expressed as weighted averages):

 

             December 31                    December 31
      2018    2017

Discount rate

    2.77%    2.47%

Rate of increase in salaries

    4.47%    3.51%

Rate of inflation, pre-retirement

    2.55%    2.40%

Rate of increase in future pensions payment

    3.51%    3.53%

Life expectancy at age 65 for current pensioners:

      

  Male

    22 years    22 years

  Female

    24 years    24 years

Life expectancy at age 65 for current members aged 40 or 45:

      

  Male

    23 years    23 years

  Female

    25 years    26 years
Summary of Quantitative Sensitivity Analyses Impact on Defined Benefit Obligation for Significant Assumptions

Quantitative sensitivity analyses showing the impact on the defined benefit obligation for significant assumptions are as follows:

 

     December 31     December 31  
     2018     2017  
         Increase         Decrease       Increase       Decrease  
      $     $     $     $  

Change in discount rate by 0.25%

      (15.6 )      17.0       (11.2 )      11.8  

Change in pre-retirement inflation rate by 0.25%

      5.0       (4.8 )      3.9       (3.8 ) 

Change in salary growth by 0.25%

      0.9       (0.8 )      0.5       (0.5 ) 

Change in pension increase assumption by 0.25%

      8.4       (8.1 )      6.4       (6.1 ) 

Increase of one year in the life expectancy

      9.4       n/a       6.0       n/a