2023 Consolidated Financial Statements and Notes
AIR CANADA
2023 Consolidated Financial Statements and Notes
The pension benefit deficit of only those plans that are not fully funded is as follows:
(Canadian dollars in millions)
Domestic Registered Plans
International plans
Supplementary plans
2023
2022
$
7
$
2
53
57
782
766
$
842
$
825
The weighted average duration of the defined benefit obligation is 12.7 years (2022 - 12.5 years).
Pension and Other Employee Future Benefit Expense
The Corporation has recorded net defined benefit pension and other employee future benefits expense as follows:
(Canadian dollars in millions)
Consolidated Statement of Operations
Components of cost
Current service cost
Past service cost
Administrative and other expenses
SA
$
Pension Benefits
Other Employee Future Benefits
2023
2022
2023
2022
162
SA
$
1
8
242
$
32
12
(2)
9
SA
41
Actuarial losses (gains), including foreign
exchange
Total cost recognized in Wages, salaries and
benefits
$
170
$
263
$
24
(9)
(32)
21
$
6
Net interest relating to employee benefits in
Non-operating-other
$
(78)
$
(70)
$
53
$
46
Total cost recognized in statement of
operations
92
22
$
193
$
74
$
55
Consolidated Other Comprehensive (Income)
Loss
Remeasurements:
Experience loss (gain), including foreign
exchange
4
14
(14)
121
(96)
Loss (gain) from change in demographic
assumptions
Loss (gain) from change in financial
assumptions
1,297
(5,149)
75
(363)
Return on plan assets
(395)
5,138
Change in asset ceiling
(1,085)
492
Total cost (income) recognized in OCI
(179)
$
490
$
61
$
(459)
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