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Defined benefit plans (Tables) | 12 Months Ended
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Dec. 31, 2017
Text block1 [abstract] |
Summary of Defined Benefit Plans |
|  | December 31, 2017 |  |  | December 31, 2016 |
|  | $ |  |  | $ |
Balance sheet obligations (asset) for: |  |  |  |  |  |  |  |
Pension Plan |  |  | 13,599 |  |  |  | 10,882 |
Supplemental Pension Plan |  |  | (9,919) |  |  |  | (11,620) |
|  | December 31, 2017 |  |  | December 31, 2016 |
|  | $ |  |  | $ |
Income statement charge for: |  |  |  |  |  |  |  |
Pension plan |  |  | 2,841 |  |  |  | 4,409 |
Supplemental Pension Plan |  |  | 610 |  |  |  | 1,193 |
|  |  | 3,451 |  |  |  | 5,602 |
Actuarial losses (gains) recognised in the statement of other comprehensive income in the period (before tax) |  |  | 3,121 |  |  |  | 1,188 |
Cumulative actuarial losses recognised in the statement of other comprehensive income (before tax) |  |  | 18,641 |  |  |  | 15,520 |
Summary of Amounts Recognised in the Balance Sheet for All Pension Plans | The amounts recognised in the balance sheet for all pension plans are determined as follows:
|  | December 31, 2017 |  |  |  |  |  | December 31, 2016 |  |  |  |
|  | Pension Plan |  |  | SERP |  |  | Total |  |  | Pension Plan |  |  | SERP |  |  | Total |
|  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |
Present value of obligations |  |  | 16,028 |  |  |  | 43,956 |  |  |  | 59,984 |  |  |  | 12,936 |  |  |  | 37,686 |  |  |  | 50,622 |
Fair value of plan assets |  |  | (2,429) |  |  |  | (53,875) |  |  |  | (56,304) |  |  |  | (2,054) |  |  |  | (49,306) |  |  |  | (51,360) |
Liability (asset) on balance sheet |  |  | 13,599 |  |  |  | (9,919) |  |  |  | 3,680 |  |  |  | 10,882 |  |  |  | (11,620) |  |  |  | (738) |
Summary of Movement in the Defined Benefit Obligation Over the Year | The movement in the defined benefit obligation over the year is as follows:
|  | 2017 |  |  |  |  |  | 2016 |  |  |  |
|  | Pension Plan |  |  | SERP |  |  | Total |  |  | Pension Plan |  |  | SERP |  |  | Total |
|  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |
Balance at January 1, |  |  | 12,936 |  |  |  | 37,686 |  |  |  | 50,622 |  |  |  | 8,688 |  |  |  | 31,565 |  |  |  | 40,253 |
Current service cost |  |  | 2,102 |  |  |  | 877 |  |  |  | 2,979 |  |  |  | 520 |  |  |  | 1,483 |  |  |  | 2,003 |
Past service cost |  |  | 206 |  |  |  | 208 |  |  |  | 414 |  |  |  | 3,494 |  |  |  | 193 |  |  |  | 3,687 |
Interest cost |  |  | 620 |  |  |  | 1,508 |  |  |  | 2,128 |  |  |  | 476 |  |  |  | 1,340 |  |  |  | 1,816 |
Actuarial loss (gain) |  |  | 292 |  |  |  | 2,390 |  |  |  | 2,682 |  |  |  | 445 |  |  |  | 1,939 |  |  |  | 2,384 |
Benefit payments |  |  | (1,060 | ) |  |  | (1,485 | ) |  |  | (2,545 | ) |  |  | (26 | ) |  |  | (445 | ) |  |  | (471 | )
Exchange (gain) loss |  |  | 932 |  |  |  | 2,772 |  |  |  | 3,704 |  |  |  | (661 | ) |  |  | 1,611 |  |  |  | 950 |
Balance at December 31, |  |  | 16,028 |  |  |  | 43,956 |  |  |  | 59,984 |  |  |  | 12,936 |  |  |  | 37,686 |  |  |  | 50,622 |
Summary of Movement in the Fair Value of Plan Assets of the Year | The movement in the fair value of plan assets of the year is as follows:
|  | 2017 |  |  |  |  |  | 2016 |  |  |  |
|  | Pension Plan |  |  | SERP |  |  | Total |  |  | Pension Plan |  |  | SERP |  |  | Total |
|  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |
At January 1, |  |  | 2,054 |  |  |  | 49,306 |  |  |  | 51,360 |  |  |  | 1,968 |  |  |  | 43,016 |  |  |  | 44,984 |
Interest income on plan assets |  |  | 86 |  |  |  | 1,983 |  |  |  | 2,069 |  |  |  | 81 |  |  |  | 1,823 |  |  |  | 1,904 |
Actuarial gain (loss) |  |  | (55) |  |  |  | (384) |  |  |  | (439) |  |  |  | (32) |  |  |  | (1,164) |  |  |  | (1,196) |
Contributions by employer |  |  | 219 |  |  |  | 1,196 |  |  |  | 1,415 |  |  |  | - |  |  |  | 1,728 |  |  |  | 1,728 |
Benefit payments |  |  | (57) |  |  |  | (1,485) |  |  |  | (1,542) |  |  |  | (26) |  |  |  | (445) |  |  |  | (471) |
Exchange gain |  |  | 182 |  |  |  | 3,259 |  |  |  | 3,441 |  |  |  | 63 |  |  |  | 4,348 |  |  |  | 4,411 |
At December 31, |  |  | 2,429 |  |  |  | 53,875 |  |  |  | 56,304 |  |  |  | 2,054 |  |  |  | 49,306 |  |  |  | 51,360 |
Summary of Amounts Recognised in the Income Statement | The amounts recognised in the income statement are as follows:
|  | 2017 |  |  |  |  |  | 2016 |  |  |  |
|  | Pension Plan |  |  | SERP |  |  | Total |  |  | Pension Plan |  |  | SERP |  |  | Total |
|  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |
Current service cost |  |  | 2,102 |  |  |  | 877 |  |  |  | 2,979 |  |  |  | 520 |  |  |  | 1,483 |  |  |  | 2,003 |
Interest cost |  |  | 620 |  |  |  | 1,508 |  |  |  | 2,128 |  |  |  | 476 |  |  |  | 1,340 |  |  |  | 1,816 |
Past Service Cost |  |  | 206 |  |  |  | 208 |  |  |  | 414 |  |  |  | 3,494 |  |  |  | 193 |  |  |  | 3,687 |
Expected return on plan assets |  |  | (87 | ) |  |  | (1,983 | ) |  |  | (2,070 | ) |  |  | (81 | ) |  |  | (1,823 | ) |  |  | (1,904 | )
Defined benefit plans expense |  |  | 2,841 |  |  |  | 610 |  |  |  | 3,451 |  |  |  | 4,409 |  |  |  | 1,193 |  |  |  | 5,602 |
Summary of Principal Actuarial Assumptions | The principal actuarial assumptions used were as follows:
|  | 2017 |  |  | 2016 |
|  | Pension Plan |  |  | SERP |  |  | Pension Plan |  |  | SERP |
|  | Greece |  |  | Turkey |  |  | Canada |  |  | Canada |  |  | Greece |  |  | Turkey |  |  | Canada |  |  |  |
|  | % |  |  | % |  |  | % |  |  | % |  |  | % |  |  | % |  |  | % |  |  | % |
Expected return on plan assets |  |  | - |  |  |  | - |  |  |  | 3.9 |  |  |  | 3.9 |  |  |  | - |  |  |  | - |  |  |  | 3.9 |  |  |  | 3.9 |
Discount rate - beginning of year |  |  | 1.6 |  |  |  | 10.5 |  |  |  | 3.9 |  |  |  | 3.9 |  |  |  | 2.0 |  |  |  | 10.5 |  |  |  | 4.0 |  |  |  | 4.0 |
Discount rate - end of year |  |  | 1.7 |  |  |  | 11.0 |  |  |  | 3.4 |  |  |  | 3.4 |  |  |  | 1.6 |  |  |  | 10.5 |  |  |  | 3.9 |  |  |  | 3.9 |
Rate of salary escalation |  |  | 2.8 |  |  |  | 6.5 |  |  |  | 2.0 |  |  |  | 2.0 |  |  |  | 2.8 |  |  |  | 6.0 |  |  |  | 2.0 |  |  |  | 2.0 |
Average remaining service period of active employees expected to receive benefits |  |  | - |  |  |  | - |  |  |  | 8.2 years |  |  |  | 8.2 years |  |  |  | - |  |  |  | - |  |  |  | 7.1 years |  |  |  | 7.1 years |
Summary of Defined Benefit Plans' Weighted Average Asset Allocation Percentages by Asset Category | The following table summarizes the defined benefit plans’ weighted average asset allocation percentages by asset category:
|  | December 31, 2017 |  |  | December 31, 2016 |  |  |
|  | Pension Plan |  |  | SERP |  |  | Pension Plan |  |  | SERP |  |  |
Investment funds |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market |  |  | 0 | % |  |  | 6 | % |  |  | 2 | % |  |  | 3 | % |  |
Canadian fixed income |  |  | 100 | % |  |  | 2 | % |  |  | 98 | % |  |  | 4 | % |  |
Canadian equities |  |  |  | - |  |  | 20 | % |  |  |  | - |  |  | 21 | % |  |
US equities |  |  |  | - |  |  | 19 | % |  |  |  | - |  |  | 20 | % |  |
International equities |  |  |  | - |  |  | 7 | % |  |  |  | - |  |  | 8 | % |  |
Other (1) |  |  |  | - |  |  | 46 | % |  |  |  | - |  |  | 44 | % |  |
Total |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |
1 Assets held by the Canada Revenue Agency in the refundable tax account
Summary of Sensitivity of the Overall Pension Obligation to Changes in the Weighted Principal Assumptions | The sensitivity of the overall pension obligation to changes in the weighted principal assumptions is:
|  | Change in assumption |  | Impact on overall obligation |  |
Discount rate |  | Increase by 0.5% |  | Decrease by $2,855 |  |
|  | Decrease by 0.5% |  | Increase by $3,157 |  |
Salary escalation rate |  | Increase by 0.5% |  | Increase by $8 |  |
|  | Decrease by 0.5% |  | decrease by $14 |  |

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- Definition Disclosure of amount recognized in the statement of income in respect of defined benefit plans. + References No definition available. + Details
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- Definition Disclosure of defined benefit plan actuarial assumptions. + References No definition available. + Details
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- Definition The disclosure of defined benefit plans. [Refer: Defined benefit plans [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2017-01-01 -Paragraph 138 -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=19&date=2017-03-01&anchor=para_138&doctype=Standard -URIDate 2017-03-09 + Details
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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 2017-01-01 -Paragraph 142 -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=19&date=2017-03-01&anchor=para_142&doctype=Standard -URIDate 2017-03-09 + 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 2017-01-01 -Paragraph 140 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=19&date=2017-03-01&anchor=para_140_a&doctype=Standard -URIDate 2017-03-09 + 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 2017-01-01 -Paragraph 145 -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=19&date=2017-03-01&anchor=para_145&doctype=Standard -URIDate 2017-03-09 + Details
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