Pension and Other Benefits

6 Months Ended

Jun. 30, 2021

Retirement Benefits [Abstract]

Pensions and Other Benefits

Pension and other benefits

In the three and six months ended June 30, 2021, the Company made contributions to its defined benefit pension plans of $7 million and $11 million, respectively (three and six months ended June 30, 2020 - $6 million and $15 million, respectively).

Net periodic benefit costs for defined benefit pension plans and other benefits included the following components:

	For the three months ended June 30
	Pensions				Other benefits
(in millions of Canadian dollars)	2021		2020		2021		2020
Current service cost (benefits earned by employees)	$	43	$	35	$	3	$	3
Other components of net periodic benefit (recovery) cost:
Interest cost on benefit obligation	88		101		4		4
Expected return on fund assets	(240)		(236)		—		—
Recognized net actuarial loss	51		44		1		1
Total other components of net periodic benefit (recovery) cost	(101)		(91)		5		5
Net periodic benefit (recovery) cost	$	(58)	$	(56)	$	8	$	8

	For the six months ended June 30
	Pensions				Other benefits
(in millions of Canadian dollars)	2021		2020		2021		2020
Current service cost (benefits earned by employees)	$	86	$	70	$	6	$	6
Other components of net periodic benefit (recovery) cost:
Interest cost on benefit obligation	176		203		8		9
Expected return on fund assets	(480)		(473)		—		—
Recognized net actuarial loss	103		88		2		2
Total other components of net periodic benefit (recovery) cost	(201)		(182)		10		11
Net periodic benefit (recovery) cost	$	(115)	$	(112)	$	16	$	17