Pension and other benefits

6 Months Ended

Jun. 30, 2023

Retirement Benefits [Abstract]

Pension and other benefits

Pension and other benefits

In the three and six months ended June 30, 2023, the Company made contributions to its defined benefit pension plans of $5 million and $9 million, respectively (three and six months ended June 30, 2022 - $4 million and $7 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)	2023		2022		2023		2022
Current service cost (benefits earned by employees)	$	17	$	37	$	3	$	3
Other components of net periodic benefit (recovery) cost:
Interest cost on benefit obligation	122		96		6		4
Expected return on plan assets	(221)		(239)		—		—
Recognized net actuarial loss	8		38		—		—
Amortization of prior service costs	1		—		1		—
Total other components of net periodic benefit (recovery) cost	(90)		(105)		7		4
Net periodic benefit (recovery) cost	$	(73)	$	(68)	$	10	$	7

	For the six months ended June 30
	Pensions				Other benefits
(in millions of Canadian dollars)	2023		2022		2023		2022
Current service cost (benefits earned by employees)	$	35	$	74	$	5	$	5
Other components of net periodic benefit (recovery) cost:
Interest cost on benefit obligation	243		192		11		8
Expected return on plan assets	(441)		(479)		—		—
Recognized net actuarial loss	16		76		—		1
Amortization of prior service costs	1		—		1		—
Total other components of net periodic benefit (recovery) cost	(181)		(211)		12		9
Net periodic benefit (recovery) cost	$	(146)	$	(137)	$	17	$	14