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Employee Future Benefits (Tables) | 12 Months Ended
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Dec. 31, 2021
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, 2021 | Registered | Supplemental | Other | Total
Current service cost | 3 |  | 2 |  | 1 |  | 6 |
Administration expenses | 1 |  | — |  | — |  | 1 |
Interest cost on defined benefit obligation | 12 |  | 2 |  | — |  | 14 |
Interest on plan assets | (8) |  | — |  | — |  | (8) |
Curtailment and amendment gain | (7) |  | — |  | — |  | (7) |
Defined benefit expense | 1 |  | 4 |  | 1 |  | 6 |
Defined contribution expense | 8 |  | — |  | — |  | 8 |
Net expense | 9 |  | 4 |  | 1 |  | 14 |
Year ended Dec. 31, 2020 | Registered | Supplemental | Other | Total
Current service cost | 5 |  | 2 |  | 1 |  | 8 |
Administration expenses | 1 |  | — |  | — |  | 1 |
Interest cost on defined benefit obligation | 16 |  | 3 |  | 1 |  | 20 |
Interest on plan assets | (11) |  | (1) |  | — |  | (12) |
Curtailment and amendment gain | (2) |  | — |  | — |  | (2) |
Defined benefit expense | 9 |  | 4 |  | 2 |  | 15 |
Defined contribution expense | 9 |  | — |  | — |  | 9 |
Net expense | 18 |  | 4 |  | 2 |  | 24 |
Year ended Dec. 31, 2019 | Registered | Supplemental | Other | Total
Current service cost | 7 |  | 2 |  | 1 |  | 10 |
Administration expenses | 2 |  | — |  | — |  | 2 |
Interest cost on defined benefit obligation | 19 |  | 3 |  | 1 |  | 23 |
Interest on plan assets | (12) |  | (1) |  | — |  | (13) |
Curtailment and amendment gain | (3) |  | — |  | — |  | (3) |
Defined benefit expense | 13 |  | 4 |  | 2 |  | 19 |
Defined contribution expense | 9 |  | — |  | — |  | 9 |
Net expense | 22 |  | 4 |  | 2 |  | 28 |
The expected employer contributions for 2022 for the defined benefit pension and other post-employment benefit plans are as follows:
| Registered | Supplemental | Other | Total
Expected employer contributions | 5 |  | 6 |  | 2 |  | 13 |
Defined Benefit Obligation | The status of the defined benefit pension and other post-employment benefit plans is as follows:
Year ended Dec. 31, 2021 | Registered | Supplemental | Other | Total
Fair value of plan assets | 339 |  | 14 |  | — |  | 353 |
Present value of defined benefit obligation | (469) |  | (101) |  | (23) |  | (593) |
Funded status – plan deficit | (130) |  | (87) |  | (23) |  | (240) |
Amount recognized in the consolidated financial statements: |  |  |  |
Accrued current liabilities | (4) |  | (6) |  | (2) |  | (12) |
Other long-term liabilities | (126) |  | (81) |  | (21) |  | (228) |
Total amount recognized | (130) |  | (87) |  | (23) |  | (240) |
Year ended Dec. 31, 2020 | Registered | Supplemental | Other | Total
Fair value of plan assets | 367 |  | 14 |  | — |  | 381 |
Present value of defined benefit obligation | (542) |  | (109) |  | (24) |  | (675) |
Funded status – plan deficit | (175) |  | (95) |  | (24) |  | (294) |
Amount recognized in the consolidated financial statements: |  |  |  |
Accrued current liabilities | (5) |  | (5) |  | (2) |  | (12) |
Other long-term liabilities | (170) |  | (90) |  | (22) |  | (282) |
Total amount recognized | (175) |  | (95) |  | (24) |  | (294) |
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, 2019 | 543 |  | 99 |  | 22 |  | 664 |
Current service cost | 5 |  | 2 |  | 1 |  | 8 |
Interest cost | 16 |  | 3 |  | 1 |  | 20 |
Benefits paid | (45) |  | (5) |  | (1) |  | (51) |
Curtailment | (2) |  | — |  | — |  | (2) |
Actuarial loss arising from financial assumptions | 43 |  | 10 |  | 2 |  | 55 |
Actuarial gain arising from experience adjustments | (17) |  | — |  | — |  | (17) |
Effect of translation on US plans | (1) |  | — |  | (1) |  | (2) |
Present value of defined benefit obligation as at Dec. 31, 2020 | 542 |  | 109 |  | 24 |  | 675 |
Current service cost | 3 |  | 2 |  | 1 |  | 6 |
Interest cost | 12 |  | 2 |  | — |  | 14 |
Benefits paid | (54) |  | (5) |  | (1) |  | (60) |
Curtailment | (7) |  | — |  | — |  | (7) |
Actuarial gain arising from financial assumptions | (26) |  | (7) |  | (1) |  | (34) |
Actuarial gain arising from experience adjustments | (1) |  | — |  | — |  | (1) |
Present value of defined benefit obligation as at Dec. 31, 2021 | 469 |  | 101 |  | 23 |  | 593 |
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, 2019 | 373 |  | 13 |  | — |  | 386 |
Interest on plan assets | 11 |  | 1 |  | — |  | 12 |
Net return on plan assets | 25 |  | (1) |  | — |  | 24 |
Contributions | 6 |  | 6 |  | 1 |  | 13 |
Benefits paid | (45) |  | (5) |  | (1) |  | (51) |
Administration expenses | (1) |  | — |  | — |  | (1) |
Effect of translation on US plans | (2) |  | — |  | — |  | (2) |
As at Dec. 31, 2020 | 367 |  | 14 |  | — |  | 381 |
Interest on plan assets | 8 |  | — |  | — |  | 8 |
Net return on plan assets | 14 |  | (1) |  | — |  | 13 |
Contributions | 5 |  | 6 |  | 1 |  | 12 |
Benefits paid | (54) |  | (5) |  | (1) |  | (60) |
Administration expenses | (1) |  | — |  | — |  | (1) |
As at Dec. 31, 2021 | 339 |  | 14 |  | — |  | 353 |
The fair value of the Company’s defined benefit plan assets by major category is as follows:
Year ended Dec. 31, 2021 | Level I | Level II | Level III | Total
Equity securities |  |  |  |
Canadian | — |  | 29 |  | 4 |  | 33 |
US | — |  | 20 |  | — |  | 20 |
International | 47 |  | 79 |  | — |  | 126 |
Private | — |  | — |  | 1 |  | 1 |
Bonds |  |  |  |
AAA | — |  | 28 |  | — |  | 28 |
AA | — |  | 54 |  | — |  | 54 |
A | — |  | 36 |  | — |  | 36 |
BBB | 1 |  | 24 |  | — |  | 25 |
Below BBB | — |  | 10 |  | — |  | 10 |
Money market and cash and cash equivalents | — |  | 20 |  | — |  | 20 |
Total | 48 |  | 300 |  | 5 |  | 353 |
Year ended Dec. 31, 2020 | Level I | Level II | Level III | Total
Equity securities |  |  |  |
Canadian | — |  | 64 |  | — |  | 64 |
US | — |  | 30 |  | — |  | 30 |
International | — |  | 103 |  | — |  | 103 |
Private | — |  | — |  | 1 |  | 1 |
Bonds |  |  |  |
AAA | — |  | 36 |  | — |  | 36 |
AA | — |  | 67 |  | — |  | 67 |
A | — |  | 34 |  | — |  | 34 |
BBB | 1 |  | 22 |  | — |  | 23 |
Below BBB | — |  | 4 |  | — |  | 4 |
Money market and cash and cash equivalents | — |  | 19 |  | — |  | 19 |
Total | 1 |  | 379 |  | 1 |  | 381 |
Assumptions | Assumptions The significant actuarial assumptions used in measuring the Company’s defined benefit obligation for the defined benefit pension and other post-employment benefit plans are as follows:
| As at Dec. 31, 2021 |  | As at Dec. 31, 2020
(per cent) | Registered | Supplemental | Other |  | Registered | Supplemental | Other
Accrued benefit obligation |  |  |  |  |  |  |
Discount rate | 2.8 |  | 2.8 |  | 2.7 |  |  | 2.4 |  | 2.3 |  | 2.3 |
Rate of compensation increase | 2.9 |  | 3.0 |  | — |  |  | 2.9 |  | 3.0 |  | — |
Assumed health-care cost trend rate |  |  |  |  |  |  |
Health-care cost escalation(1)(3) | — |  | — |  | 6.8 |  |  | — |  | — |  | 6.8 |
Dental-care cost escalation | — |  | — |  | 4.0 |  |  | — |  | — |  | 4.0 |
Benefit cost for the year |  |  |  |  |  |  |
Discount rate | 2.4 |  | 2.3 |  | 2.3 |  |  | 3.0 |  | 3.0 |  | 3.0 |
Rate of compensation increase | 2.9 |  | 3.0 |  | — |  |  | 2.9 |  | 3.0 |  | — |
Assumed health-care cost trend rate |  |  |  |  |  |  |
Health-care cost escalation(2)(4) | — |  | — |  | 7.1 |  |  | — |  | — |  | 7.1 |
Dental-care cost escalation | — |  | — |  | 4.0 |  |  | — |  | — |  | 4.0 |
(1) 2021 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 2030 for Canada. (2) 2021 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 2030 for Canada. (3) 2020 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 2030 for Canada. (4) 2020 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 2030 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, 2021 | Registered | Supplemental | Other |  | Pension | Other
1% decrease in the discount rate | 61 |  | 15 |  | 2 |  |  | 3 |  | 1 |
1% increase in the salary scale | 3 |  | — |  | — |  |  | — |  | — |
1% increase in the health-care cost trend rate | — |  | — |  | 2 |  |  | — |  | — |
10% improvement in mortality rates | 20 |  | 4 |  | — |  |  | 1 |  | — |

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