CELESTICA INC | CIK:0001030894 | 3

  • Filed: 3/12/2018
  • Entity registrant name: CELESTICA INC (CIK: 0001030894)
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    • ifrs-full:DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory

    The following tables provide a summary of the financial position of our pension and other benefit plans:
     
    Pension Plans
    Year ended
    December 31
     
    Other Benefit Plans
    Year ended
    December 31
     
    2016
     
    2017
     
    2016
     
    2017
    Plan assets, beginning of year
    $
    365.3

     
    $
    377.2

     
    $
    —

     
    $
    —

    Interest income
    12.7

     
    10.0

     
    —

     
    —

    Actuarial gains (losses) in other comprehensive income (i)
    74.0

     
    (6.1
    )
     
    —

     
    —

    Administrative expenses paid from plan assets
    (1.2
    )
     
    (1.4
    )
     
    —

     
    —

    Employer contributions
    7.4

     
    2.4

     
    —

     
    —

    Employer direct benefit payments
    2.0

     
    0.1

     
    2.2

     
    2.5

    Employer direct settlement payments
    —

     
    —

     
    —

     
    2.0

    Settlement payments from employer
    —

     
    —

     
    —

     
    (2.0
    )
        Settlement payments from plan (see note 19(a))
    —

     
    (11.7
    )
     
    —

     
    —

    Benefit payments from plan
    (14.8
    )
     
    (10.5
    )
     
    —

     
    —

    Benefit payments from employer
    (2.0
    )
     
    (0.1
    )
     
    (2.2
    )
     
    (2.5
    )
    Foreign currency exchange rate changes and other
    (66.2
    )
     
    35.6

     
    —

     
    —

     
     
     
     
     
     
     
     
    Plan assets, end of year
    $
    377.2

     
    $
    395.5

     
    $
    —

     
    $
    —


    (i)
    Actuarial gains or losses are determined based on actual return on plan assets less interest income above. For 2017, includes $17.0 loss resulting from the purchase of annuities in March 2017 (see note 19(a) above).
     
    Pension Plans
    Year ended
    December 31
     
    Other Benefit
    Plans
    Year ended
    December 31
     
    2016
     
    2017
     
    2016
     
    2017
    Accrued benefit obligations, beginning of year
    $
    326.9

     
    $
    325.6

     
    $
    62.7

     
    $
    65.8

    Current service cost
    1.7

     
    2.1

     
    1.9

     
    2.0

        Past service cost and settlement/curtailment losses
    —

     
    1.9

     
    —

     
    0.6

    Interest cost
    11.1

     
    8.7

     
    2.6

     
    2.6

    Actuarial losses (gains) in other comprehensive income from:
     
     
     
     
     
     
     
    — Changes in demographic assumptions
    (13.9
    )
     
    5.4

     
    (6.3
    )
     
    0.2

    — Changes in financial assumptions
    82.9

     
    2.9

     
    5.8

     
    2.9

    — Experience adjustments
    (12.9
    )
     
    0.1

     
    (0.1
    )
     
    0.6

        Settlement payments from employer
    —

     
    —

     
    —

     
    (2.0
    )
        Settlement payments from plan
    —

     
    (11.7
    )
     
    —

     
    —

    Benefit payments from plan
    (14.8
    )
     
    (10.5
    )
     
    —

     
    —

    Benefit payments from employer
    (2.0
    )
     
    (0.1
    )
     
    (2.2
    )
     
    (2.5
    )
    Foreign currency exchange rate changes and other
    (53.4
    )
     
    31.4

     
    1.4

     
    5.3

    Accrued benefit obligations, end of year
    $
    325.6

     
    $
    355.8

     
    $
    65.8

     
    $
    75.5

     
     
     
     
     
     
     
     
    Weighted average duration of benefit obligations (in years)
    19

     
    19

     
    14

     
    14

    The present value of the defined benefit obligations, the fair value of plan assets and the surplus or deficit in our defined benefit pension and other benefit plans are summarized as follows:
     
    Pension Plans
    December 31
     
    Other Benefit Plans
    December 31
     
    2016
     
    2017
     
    2016
     
    2017
    Accrued benefit obligations, end of year
    $
    (325.6
    )
     
    $
    (355.8
    )
     
    $
    (65.8
    )
     
    $
    (75.5
    )
    Plan assets, end of year
    377.2

     
    395.5

     
    —

     
    —

    Excess (deficiency) of plan assets over accrued benefit obligations
    $
    51.6

     
    $
    39.7

     
    $
    (65.8
    )
     
    $
    (75.5
    )