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Employee Defined Benefit Obligations (Tables)
12 Months Ended
Dec. 31, 2021
Employee Benefits [Abstract]  
Summary of Employee Defined Benefit Obligations
December 31,
2021
December 31,
2020
$$
Net defined benefit pension asset(17.0)(47.3)
Net defined benefit pension liability42.8 73.7 
End of employment benefit plans15.9 17.5 
58.7 91.2 
December 31,
2021
December 31,
2020
$$
Included in the consolidated statement of financial position within:
Net defined benefit asset(17.0)(47.3)
Net defined benefit liability42.8 73.7 
25.8 26.4 
Summary of Reconciliation for Net Defined Benefit Liability
The following table presents a reconciliation from the opening balances to the closing balances for the net defined benefit liability and its components:
20212020
Defined
Benefit
 Obligation
$
Fair Value
of Plan
Assets
$
Net
Defined
Benefit
Liability
$
Defined
Benefit
 Obligation
$
Fair Value
of Plan
Assets
$
Net
Defined
Benefit
Liability
$
Balance, beginning of the year601.6 (575.2)26.4 563.1 (519.3)43.8 
Administrative and marketing expenses
Interest expense (income)6.8 (6.7)0.1 10.6 (10.0)0.6 
Past service cost   0.3 — 0.3 
Administrative expenses paid by the Plans 1.0 1.0 — 1.1 1.1 
6.8 (5.7)1.1 10.9 (8.9)2.0 
Other comprehensive loss (income)
Return on the plan assets, excluding interest income 11.1 11.1 — (41.1)(41.1)
Actuarial (gains) losses arising from:
Changes in demographic assumptions5.0  5.0 1.0 — 1.0 
Changes in financial assumptions0.5  0.5 40.0 — 40.0 
Experience adjustments(1.8) (1.8)0.6 — 0.6 
Remeasurement loss (gain) on net employee defined benefit liability, before tax3.7 11.1 14.8 41.6 (41.1)0.5 
Effect of movement in exchange rates(10.4)10.1 (0.3)6.1 (5.8)0.3 
(6.7)21.2 14.5 47.7 (46.9)0.8 
Other
Benefits paid(15.6)15.6  (20.1)20.1 — 
Contributions by employer (16.2)(16.2)— (20.2)(20.2)
(15.6)(0.6)(16.2)(20.1)(0.1)(20.2)
Balance, end of the year586.1 (560.3)25.8 601.6 (575.2)26.4 
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,
20212020
$$
Cash and cash equivalents23.1 9.6 
Investments quoted in active markets (mutual, exchange-traded, and pooled funds):
  Equities43.1 149.1 
  Corporate bonds and fixed income9.9 130.6 
  Pooled fund liability-driven investments26.2 21.2 
  Property funds1.6 10.1 
Unquoted investments:
  Annuity policies317.5 127.0 
  Insurance contracts:
Equities and property100.7 85.5 
Corporate bonds27.9 41.2 
Cash and cash equivalents10.3 0.9 
Fair value of plan assets560.3 575.2 
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,
2021
December 31,
2020
Discount rate1.80 %1.15 %
Rate of increase in salaries4.27 %4.17 %
Rate of inflation, pre-retirement2.74 %2.40 %
Rate of increase in future pensions payment3.49 %3.41 %
Life expectancy at age 65 for current pensioners:
  Male22 years22 years
  Female24 years24 years
Life expectancy at age 65 for current members aged 45:
  Male23 years23 years
  Female25 years25 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,
2021
December 31,
2020
Increase
$
Decrease
$
Increase
$
Decrease
$
Change in discount rate by 0.25%
(22.3)23.8 (19.6)20.3 
Change in pre-retirement inflation rate by 0.25%
5.1 (5.1)5.6 (5.3)
Change in salary growth by 0.25%
1.1 (1.1)1.2 (1.2)
Change in pension increase assumption by 0.25%
12.3 (11.6)12.9 (12.3)
Change in one year in the life expectancy12.0 (12.0)13.3 (13.3)