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Employee Future Benefits (Tables) | 12 Months Ended
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Dec. 31, 2018
Employee Benefits [Abstract] |
Costs Recognized | The costs recognized in net earnings during the year on the defined benefit, defined contribution and other post-employment benefits plans are as follows:
Year ended Dec. 31, 2018 | Registered |  | Supplemental |  | Other |  | Total |
Current service cost | 9 |  | 2 |  | 1 |  | 12 |
Administration expenses | 1 |  | — |  | — |  | 1 |
Interest cost on defined benefit obligation | 18 |  | 3 |  | 1 |  | 22 |
Interest on plan assets | (13 | ) | — |  | — |  | (13 | )
Defined benefit expense | 15 |  | 5 |  | 2 |  | 22 |
Defined contribution expense | 10 |  | — |  | — |  | 10 |
Net expense | 25 |  | 5 |  | 2 |  | 32 |
Year ended Dec. 31, 2017 | Registered |  | Supplemental |  | Other |  | Total |
Current service cost | 7 |  | 2 |  | 1 |  | 10 |
Administration expenses | 2 |  | — |  | — |  | 2 |
Interest cost on defined benefit obligation | 20 |  | 3 |  | 1 |  | 24 |
Interest on plan assets | (15 | ) | — |  | — |  | (15 | )
Defined benefit expense | 14 |  | 5 |  | 2 |  | 21 |
Defined contribution expense | 11 |  | — |  | — |  | 11 |
Net expense | 25 |  | 5 |  | 2 |  | 32 |
Year ended Dec. 31, 2016 | Registered |  | Supplemental |  | Other |  | Total |
Current service cost | 7 |  | 2 |  | 2 |  | 11 |
Administration expenses | 2 |  | — |  | — |  | 2 |
Interest cost on defined benefit obligation | 21 |  | 3 |  | 1 |  | 25 |
Interest on plan assets | (16 | ) | — |  | — |  | (16 | )
Defined benefit expense | 14 |  | 5 |  | 3 |  | 22 |
Defined contribution expense | 15 |  | — |  | — |  | 15 |
Net expense | 29 |  | 5 |  | 3 |  | 37 |
The expected employer contributions for 2019 for the defined benefit pension and other post-employment benefit plans are as follows:
| Registered |  | Supplemental |  | Other |  | Total |
Expected employer contributions | 5 |  | 4 |  | 2 |  | 11 |
Defined Benefit Obligation | The status of the defined benefit pension and other post-employment benefit plans is as follows:
As at Dec. 31, 2018 | Registered |  | Supplemental |  | Other |  | Total |
Fair value of plan assets | 368 |  | 13 |  | — |  | 381 |
Present value of defined benefit obligation | (514 | ) | (80 | ) | (25 | ) | (619 | )
Funded status - plan deficit | (146 | ) | (67 | ) | (25 | ) | (238 | )
Amount recognized in the consolidated financial statements: |  |  |  |  |  |  |  |
Accrued current liabilities | (5 | ) | (5 | ) | (1 | ) | (11 | )
Other long-term liabilities | (141 | ) | (62 | ) | (24 | ) | (227 | )
Total amount recognized | (146 | ) | (67 | ) | (25 | ) | (238 | )
As at Dec. 31, 2017 | Registered |  | Supplemental |  | Other |  | Total |
Fair value of plan assets | 416 |  | 12 |  | — |  | 428 |
Present value of defined benefit obligation | (561 | ) | (87 | ) | (27 | ) | (675 | )
Funded status - plan deficit | (145 | ) | (75 | ) | (27 | ) | (247 | )
Amount recognized in the consolidated financial statements: |  |  |  |  |  |  |  |
Accrued current liabilities | (4 | ) | (6 | ) | (2 | ) | (12 | )
Other long-term liabilities | (141 | ) | (69 | ) | (25 | ) | (235 | )
Total amount recognized | (145 | ) | (75 | ) | (27 | ) | (247 | )
The present value of the obligation for the defined benefit pension and other post-employment benefit plans is as follows:
| Registered |  | Supplemental |  | Other |  | Total |
Present value of defined benefit obligation as at Dec. 31, 2016 | 554 |  | 82 |  | 27 |  | 663 |
Current service cost | 7 |  | 2 |  | 1 |  | 10 |
Interest cost | 20 |  | 3 |  | 1 |  | 24 |
Benefits paid | (51 | ) | (4 | ) | — |  | (55 | )
Actuarial gain arising from demographic assumptions | 4 |  | 1 |  | — |  | 5 |
Actuarial loss arising from financial assumptions | 26 |  | 3 |  | — |  | 29 |
Actuarial gain (loss) arising from experience adjustments | 3 |  | — |  | (1 | ) | 2 |
Effect of translation on US plans | (2 | ) | — |  | (1 | ) | (3 | )
Present value of defined benefit obligation as at Dec. 31, 2017 | 561 |  | 87 |  | 27 |  | 675 |
Current service cost | 9 |  | 2 |  | 1 |  | 12 |
Interest cost | 18 |  | 3 |  | 1 |  | 22 |
Benefits paid | (42 | ) | (5 | ) | (1 | ) | (48 | )
Actuarial (gain) loss arising from financial assumptions | (35 | ) | (7 | ) | (2 | ) | (44 | )
Actuarial (gain) loss arising from experience adjustments | — |  | — |  | (1 | ) | (1 | )
Effect of translation on US plans | 3 |  | — |  | — |  | 3 |
Present value of defined benefit obligation as at Dec. 31, 2018 | 514 |  | 80 |  | 25 |  | 619 |
Plan Assets | The fair value of the plan assets of the defined benefit pension and other post-employment benefit plans is as follows:
| Registered |  | Supplemental |  | Other |  | Total |
As at Dec. 31, 2016 | 423 |  | 10 |  | — |  | 433 |
Interest on plan assets | 15 |  | — |  | — |  | 15 |
Net return on plan assets | 26 |  | — |  | — |  | 26 |
Contributions | 6 |  | 6 |  | — |  | 12 |
Benefits paid | (51 | ) | (4 | ) | — |  | (55 | )
Administration expenses | (2 | ) | — |  | — |  | (2 | )
Effect of translation on US plans | (1 | ) | — |  | — |  | (1 | )
As at Dec. 31, 2017 | 416 |  | 12 |  | — |  | 428 |
Interest on plan assets | 13 |  | — |  | — |  | 13 |
Net return on plan assets | (25 | ) | — |  | — |  | (25 | )
Contributions | 5 |  | 6 |  | 1 |  | 12 |
Benefits paid | (42 | ) | (5 | ) | (1 | ) | (48 | )
Administration expenses | (1 | ) | — |  | — |  | (1 | )
Effect of translation on US plans | 2 |  | — |  | — |  | 2 |
As at Dec. 31, 2018 | 368 |  | 13 |  | — |  | 381 |
The fair value of the Corporation’s defined benefit plan assets by major category is as follows:
Year ended Dec. 31, 2018 | Level I |  | Level II |  | Level III |  | Total |
Equity securities |  |  |  |  |  |  |  |
Canadian | — |  | 65 |  | — |  | 65 |
US | — |  | 26 |  | — |  | 26 |
International | — |  | 101 |  | — |  | 101 |
Private | — |  | — |  | 1 |  | 1 |
Bonds |  |  |  |  |  |  |  |
AAA | — |  | 48 |  | — |  | 48 |
AA | — |  | 64 |  | — |  | 64 |
A | — |  | 39 |  | — |  | 39 |
BBB | 1 |  | 21 |  | — |  | 22 |
Below BBB | — |  | 3 |  | — |  | 3 |
Money market and cash and cash equivalents | (2 | ) | 14 |  | — |  | 12 |
Total | (1 | ) | 381 |  | 1 |  | 381 |
Year ended Dec. 31, 2017 | Level I |  | Level II |  | Level III |  | Total |
Equity securities |  |  |  |  |  |  |  |
Canadian | — |  | 76 |  | — |  | 76 |
US | — |  | 31 |  | — |  | 31 |
International | — |  | 118 |  | — |  | 118 |
Private | — |  | — |  | 1 |  | 1 |
Bonds |  |  |  |  |  |  |  |
AAA | — |  | 43 |  | — |  | 43 |
AA | — |  | 71 |  | — |  | 71 |
A | — |  | 44 |  | — |  | 44 |
BBB | 1 |  | 25 |  | — |  | 26 |
Below BBB | — |  | 5 |  | — |  | 5 |
Money market and cash and cash equivalents | (1 | ) | 14 |  | — |  | 13 |
Total | — |  | 427 |  | 1 |  | 428 |
Assumptions | Assumptions The significant actuarial assumptions used in measuring the Corporation’s defined benefit obligation for the defined benefit pension and other post-employment benefit plans are as follows:
| As at Dec. 31, 2018 |  | As at Dec. 31, 2017
(per cent) | Registered |  | Supplemental |  | Other |  |  | Registered |  | Supplemental |  | Other |
Accrued benefit obligation |  |  |  |  |  |  |  |
Discount rate | 3.9 |  | 3.8 |  | 3.9 |  |  | 3.3 |  | 3.3 |  | 3.4 |
Rate of compensation increase | 2.5 |  | 3.0 |  | — |  |  | 2.9 |  | 3.0 |  | — |
Assumed health care cost trend rate |  |  |  |  |  |  |  |  |  |  |  |  |
Health care cost escalation(1)(3) | — |  | — |  | 7.1 |  |  | — |  | — |  | 7.8 |
Dental care cost escalation | — |  | — |  | 4.0 |  |  | — |  | — |  | 4.0 |
Benefit cost for the year |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate | 3.3 |  | 3.3 |  | 3.4 |  |  | 3.7 |  | 3.6 |  | 3.7 |
Rate of compensation increase | 2.6 |  | 3.0 |  | — |  |  | 2.6 |  | 3.0 |  | — |
Assumed health care cost trend rate |  |  |  |  |  |  |  |  |  |  |  |  |
Health care cost escalation(2)(4) | — |  | — |  | 7.6 |  |  | — |  | — |  | 7.9 |
Dental care cost escalation | — |  | — |  | 4.0 |  |  | — |  | — |  | 4.0 |
Provincial health care premium escalation | — |  | — |  | — |  |  | — |  | — |  | — |
(1) 2018 Post- and pre-65 rates: decreasing gradually to 4.5% by 2029 and remaining at that level thereafter for the US and decreasing gradually by 0.3% per year to 4.5% in 2027 for Canada. (2) 2018 Post- and pre-65 rates: decreasing gradually to 4.5% by 2027 and remaining at that level thereafter for the US and decreasing gradually by 0.30% per year to 4.5% in 2027 for Canada. (3) 2017 Post- and pre-65 rates: decreasing gradually to 4.5% by 2027 and remaining at that level thereafter for the US and decreasing gradually by 0.30% per year to 4.5% in 2027 for Canada. (4) 2017 Post- and pre-65 rates: decreasing gradually to 4.5% by 2026 and remaining at that level thereafter for the US and decreasing gradually by 0.30% per year to 5% in 2024 for Canada.
Schedule of Estimated Increase In The Net Defined Benefit Obligation Assuming Certain Changes In Key Assumptions | The following table outlines the estimated increase in the net defined benefit obligation assuming certain changes in key assumptions:
| Canadian plans |  | US plans
Year ended Dec. 31, 2018 | Registered |  | Supplemental |  | Other |  |  | Pension |  | Other |
1% decrease in the discount rate | 70 |  | 11 |  | 3 |  |  | 2 |  | 1 |
1% increase in the salary scale | 10 |  | 1 |  | — |  |  | — |  | — |
1% increase in the health care cost trend rate | — |  | — |  | 2 |  |  | — |  | — |
10% improvement in mortality rates | 18 |  | 3 |  | — |  |  | 1 |  | — |

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