XML 92 R63.htm IDEA: XBRL DOCUMENT v3.25.4
Pension and Other Post-Employment Benefits (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits, Description [Abstract]  
Changes In Benefit Obligation And Fair Value Of Plan Assets

The following tables set forth changes in the benefit obligations and fair value of plan assets for the Company’s defined benefit pension and other post-employment benefit plans for the years ended December 31, 2025, and 2024, as well as the funded status of the plans and amounts recognized in the Consolidated Financial Statements as at December 31, 2025, and 2024.

 

 

 

Defined Benefits

 

 

OPEB

 

As at December 31

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in Benefit Obligations

 

 

 

 

 

 

 

 

 

 

 

 

Projected Benefit Obligation, Beginning of Year

 

$

124

 

 

$

138

 

 

$

45

 

 

$

48

 

Service Cost

 

 

-

 

 

 

-

 

 

 

2

 

 

 

2

 

Interest Cost

 

 

6

 

 

 

6

 

 

 

2

 

 

 

2

 

Actuarial (Gains) Losses

 

 

(2

)

 

 

3

 

 

 

-

 

 

 

(1

)

Exchange Differences

 

 

5

 

 

 

(11

)

 

 

2

 

 

 

(1

)

Employee Contributions

 

 

-

 

 

 

-

 

 

 

1

 

 

 

1

 

Benefits Paid

 

 

(12

)

 

 

(12

)

 

 

(6

)

 

 

(6

)

Curtailment

 

 

-

 

 

 

-

 

 

 

(2

)

 

 

-

 

Projected Benefit Obligation, End of Year

 

$

121

 

 

$

124

 

 

$

44

 

 

$

45

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in Plan Assets

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value of Plan Assets, Beginning of Year

 

$

110

 

 

$

123

 

 

$

-

 

 

$

-

 

Actual Return on Plan Assets

 

 

4

 

 

 

9

 

 

 

-

 

 

 

-

 

Exchange Differences

 

 

6

 

 

 

(10

)

 

 

-

 

 

 

-

 

Employee Contributions

 

 

-

 

 

 

-

 

 

 

1

 

 

 

1

 

Employer Contributions

 

 

-

 

 

 

-

 

 

 

5

 

 

 

5

 

Benefits Paid

 

 

(12

)

 

 

(12

)

 

 

(6

)

 

 

(6

)

Transfers to Defined Contribution Plan

 

 

(1

)

 

 

-

 

 

 

-

 

 

 

-

 

Fair Value of Plan Assets, End of Year

 

$

107

 

 

$

110

 

 

$

-

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Funded Status of Plan Assets, End of Year

 

$

(14

)

 

$

(14

)

 

$

(44

)

 

$

(45

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Recognized Amounts in the

 

 

 

 

 

 

 

 

 

 

 

 

     Consolidated Balance Sheet Consist of:

 

 

 

 

 

 

 

 

 

 

 

 

Other Assets

 

$

7

 

 

$

6

 

 

$

-

 

 

$

-

 

Current Liabilities

 

 

-

 

 

 

-

 

 

 

(5

)

 

 

(5

)

Non-Current Liabilities

 

 

(21

)

 

 

(20

)

 

 

(39

)

 

 

(40

)

Total

 

$

(14

)

 

$

(14

)

 

$

(44

)

 

$

(45

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Recognized Amounts in Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

     Other Comprehensive Income Consist of:

 

 

 

 

 

 

 

 

 

 

 

 

Net Actuarial (Gains) Losses

 

$

12

 

 

$

13

 

 

$

(67

)

 

$

(73

)

Net Prior Service Costs

 

 

(7

)

 

 

(7

)

 

 

6

 

 

 

7

 

Total Recognized in Accumulated Other Comprehensive

 

 

 

 

 

 

 

 

 

 

 

 

     Income, Before Tax

 

$

5

 

 

$

6

 

 

$

(61

)

 

$

(66

)
Accumulated Benefit Obligation And Projected Benefit Obligation In Excess Of The Plan Assets Fair Value

The following table sets forth the defined benefit plans where the accumulated benefit obligation and projected benefit obligation are in excess of the fair value of the plan assets:

 

 

 

Defined Benefits

 

 

OPEB

 

As at December 31

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Projected Benefit Obligation

 

$

(40

)

 

$

(40

)

 

$

(44

)

 

$

(45

)

Accumulated Benefit Obligation

 

 

(40

)

 

 

(40

)

 

 

(44

)

 

 

(45

)

Fair Value of Plan Assets (1)

 

 

18

 

 

 

20

 

 

 

-

 

 

 

-

 
(1)
The Company does not aggregate benefit plans.
Weighted Average Assumptions Used

Following are the weighted average assumptions used by the Company in determining the defined benefit pension and other post-employment benefit obligations:

 

 

 

Defined Benefits

 

 

OPEB

 

For the years ended December 31

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Discount Rate

 

 

4.60

%

 

 

4.50

%

 

 

5.09

%

 

 

5.12

%

Rates of Increase in Compensation Levels

 

 

3.49

%

 

 

3.37

%

 

 

4.93

%

 

 

4.93

%
Total Benefit Plans Expense Recognized

The following sets forth the total benefit plans expense recognized by the Company:

 

 

 

Pension Benefits

 

 

OPEB

 

For the years ended December 31

 

2025

 

 

2024

 

 

2023

 

 

2025

 

 

2024

 

 

2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Defined Periodic Benefit Cost

 

$

1

 

 

$

1

 

 

$

2

 

 

$

(3

)

 

$

(3

)

 

$

(4

)

Defined Contribution Plan Expense

 

 

23

 

 

 

26

 

 

 

25

 

 

 

-

 

 

 

-

 

 

 

-

 

Total Benefit Plans Expense

 

$

24

 

 

$

27

 

 

$

27

 

 

$

(3

)

 

$

(3

)

 

$

(4

)
Schedule of Net Defined Periodic Benefit Cost

The net defined periodic benefit cost is as follows:

 

 

 

Defined Benefits

 

 

OPEB

 

For the years ended December 31

 

2025

 

 

2024

 

 

2023

 

 

2025

 

 

2024

 

 

2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service Cost

 

$

-

 

 

$

-

 

 

$

-

 

 

$

2

 

 

$

2

 

 

$

2

 

Interest Cost

 

 

6

 

 

 

6

 

 

 

7

 

 

 

2

 

 

 

2

 

 

 

2

 

Expected Return on Plan Assets

 

 

(5

)

 

 

(5

)

 

 

(5

)

 

 

-

 

 

 

-

 

 

 

-

 

Amounts Reclassified from Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Comprehensive Income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of net actuarial (gains) and losses

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(6

)

 

 

(7

)

 

 

(8

)

Curtailment of net prior service costs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1

 

 

 

-

 

 

 

-

 

Curtailment

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(2

)

 

 

-

 

 

 

-

 

Total Net Defined Periodic Benefit Cost (1)

 

$

1

 

 

$

1

 

 

$

2

 

 

$

(3

)

 

$

(3

)

 

$

(4

)

 

(1)
The components of total net defined periodic benefit cost, excluding the service cost component, are included in other (gains) losses, net.
Recognized Amounts In Other Comprehensive Income

The amounts recognized in other comprehensive income are as follows:

 

 

 

Defined Benefits

 

 

OPEB

 

For the years ended December 31

 

2025

 

 

2024

 

 

2023

 

 

2025

 

 

2024

 

 

2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Actuarial (Gains) Losses

 

$

(1

)

 

$

(1

)

 

$

(4

)

 

$

-

 

 

$

(1

)

 

$

1

 

Amortization of Net Actuarial Gains and (Losses)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

6

 

 

 

7

 

 

 

8

 

Curtailment of Net Prior Service Costs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(1

)

 

 

-

 

 

 

-

 

Total Amounts Recognized in Other Comprehensive

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    (Income) Loss, Before Tax

 

$

(1

)

 

$

(1

)

 

$

(4

)

 

$

5

 

 

$

6

 

 

$

9

 

Total Amounts Recognized in Other Comprehensive

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    (Income) Loss, After Tax

 

$

(1

)

 

$

(1

)

 

$

(3

)

 

$

4

 

 

$

5

 

 

$

7

 
Weighted Average Assumptions Used In Determining Net Periodic Pension And Other Post Retirement Benefit Cost

Following are the weighted average assumptions used by the Company in determining the net periodic pension and other post-retirement benefit costs:

 

 

 

Defined Benefits

 

 

OPEB

 

For the years ended December 31

 

2025

 

 

2024

 

 

2023

 

 

2025

 

 

2024

 

 

2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Discount Rate

 

 

4.60

%

 

 

4.50

%

 

 

5.10

%

 

 

5.25

%

 

 

4.96

%

 

 

5.30

%

Long-Term Rate of Return on Plan Assets

 

 

3.95

%

 

 

4.00

%

 

 

3.85

%

 

 

-

 

 

 

-

 

 

 

-

 

Rates of Increase in Compensation Levels

 

 

3.49

%

 

 

3.37

%

 

 

3.24

%

 

 

4.93

%

 

 

4.93

%

 

 

4.93

%
Assumed Health Care Cost Trend Rates

The Company’s assumed health care cost trend rates are as follows:

 

For the years ended December 31

 

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Health Care Cost Trend Rate for Next Year

 

 

 

 

 

 

 

 

7.15

%

 

 

7.04

%

 

 

6.96

%

Rate to Which the Cost Trend Rate is Assumed to Decline (Ultimate Trend Rate)

 

 

 

 

5.00

%

 

 

5.00

%

 

 

5.00

%

Year that the Rate Reaches the Ultimate Trend Rate

 

 

 

 

 

 

 

2033

 

 

2032

 

 

2030

 
Estimate Of Benefit Payments For The Next 10 Years

The following provides an estimate of benefit payments for the next 10 years. These estimates reflect benefit increases due to continuing employee service.

 

 

 

 

 

 

Defined Benefit
Pension Payments

 

 

Other Benefit
Payments

 

 

 

 

 

 

 

 

 

 

 

 

2026

 

 

 

 

 

$

11

 

 

$

5

 

2027

 

 

 

 

 

 

11

 

 

 

4

 

2028

 

 

 

 

 

 

11

 

 

 

4

 

2029

 

 

 

 

 

 

11

 

 

 

4

 

2030

 

 

 

 

 

 

10

 

 

 

3

 

2031 - 2035

 

 

 

 

 

 

45

 

 

 

17

 
Schedule of Allocation of Plan Assets

The Company’s registered and other defined benefit pension plan assets are presented by investment asset category and input level within the fair value hierarchy as follows:

 

As at December 31

 

2025

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Cash and Cash Equivalents

 

$

11

 

 

$

-

 

 

$

-

 

 

$

11

 

Fixed Income

 

 

-

 

 

 

60

 

 

 

-

 

 

 

60

 

Equity

 

 

-

 

 

 

36

 

 

 

-

 

 

 

36

 

Fair Value of Plan Assets, End of Year

 

$

11

 

 

$

96

 

 

$

-

 

 

$

107

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As at December 31

 

2024

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Cash and Cash Equivalents

 

$

13

 

 

$

-

 

 

$

-

 

 

$

13

 

Fixed Income

 

 

-

 

 

 

61

 

 

 

-

 

 

 

61

 

Equity

 

 

-

 

 

 

36

 

 

 

-

 

 

 

36

 

Fair Value of Plan Assets, End of Year

 

$

13

 

 

$

97

 

 

$

-

 

 

$

110