Pension and other benefits

9 Months Ended

Sep. 30, 2023

Retirement Benefits [Abstract]

Pension and other benefits

Pension and other benefits

In the three and nine months ended September 30, 2023, the Company made contributions to its defined benefit pension plans of $4 million and $13 million, respectively (three and nine months ended September 30, 2022 - $5 million and $12 million, respectively).

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

	For the three months ended September 30
	Pensions				Other benefits				Total
(in millions of Canadian dollars)	2023		2022		2023		2022		2023		2022
Current service cost (benefits earned by employees)	$	18	$	37	$	2	$	3	$	20	$	40
Other components of net periodic benefit (recovery) cost:
Interest cost on benefit obligation	122		95		5		4		127		99
Expected return on plan assets	(220)		(240)		—		—		(220)		(240)
Recognized net actuarial loss	8		39		—		—		8		39
Total other components of net periodic benefit (recovery) cost	(90)		(106)		5		4		(85)		(102)
Net periodic benefit (recovery) cost	$	(72)	$	(69)	$	7	$	7	$	(65)	$	(62)

	For the nine months ended September 30
	Pensions				Other benefits				Total
(in millions of Canadian dollars)	2023		2022		2023		2022		2023		2022
Current service cost (benefits earned by employees)	$	53	$	111	$	7	$	8	$	60	$	119
Other components of net periodic benefit (recovery) cost:
Interest cost on benefit obligation	365		287		16		12		381		299
Expected return on plan assets	(661)		(719)		—		—		(661)		(719)
Recognized net actuarial loss	24		115		—		1		24		116
Amortization of prior service costs	1		—		1		—		2		—
Total other components of net periodic benefit (recovery) cost	(271)		(317)		17		13		(254)		(304)
Net periodic benefit (recovery) cost	$	(218)	$	(206)	$	24	$	21	$	(194)	$	(185)